Industry
Insiders Speak Out: The High Cost of
Not Having an Online Marketing Strategy
B2B
and industrial companies are slow to embrace online marketing.
It's a curious reluctance given that online marketing is
performance-driven, pays for itself, and consistently delivers
new, qualified business that can mean dramatic increases
in sales and growth.
So,
why are some companies sometimes reticent about using online
marketing when the benefits in terms of exposure and revenue
are so substantial? We thought we'd seek out those with
the answers.
Direct
From the Source
We
talked to CEOs and Marketing Managers of companies that
have embraced online marketing. These industry leaders are
quick to confirm that Internet marketing more than pays
for itself. In addition, in a short period of time online
marketing has become a critical, indispensable channel for
generating customer awareness and sales directly enhancing
the bottom line.
The
message from industry insiders clear: The risk involved
with online marketing is small. The rewards are infinite.
We
asked a number of your B2B colleagues what it would have
cost them to delay embracing the power of online marketing.
This is what they had to say.
Lost
Business
Experts
agree that online search has become the primary source of
information for those making B2B buying decisions. Most
business consumers first turn to a search engine during
the investigation phase of their buying process, and just
about all of them will use the Internet at some point during
the decision-making process. That's right. Nearly all of
them.
That's
a staggering fact, and those who have taken advantage of
online marketing know this trend is some of the best news
in decades for companies willing to exploit the new ways
businesses do business.
The
reliance on search in the buying process means your company
has never had a better opportunity to reach and capture
new business. But it also means that every day you wait
means business lost to your competitors.
Online
Marketing Pays for Itself
Industry
pros understand the bottom line and the need for measurable
returns on any investment, especially when it comes to spends
for advertising and marketing. They also understand that
online marketing is one of the few methods guaranteed to
pay for itself.
Online
marketing, specifically paid placement and search engine
optimization, have a proven track record in giving companies
the highest returns of any vehicle in their marketing mix.
In
addition, online marketing is a low-risk proposition because
it's based on performance. You pay only if a potential customer
clicks on your ad. Utilizing that system, the cost of acquiring
a customer is dramatically reduced.
Those
in the know insist online marketing generates 20-50% of
the qualified sales leads in industries that have traditionally
relied on sales prospecting, word-of-mouth and trade shows.
The
numbers don't lie. What is your company waiting for?
Competition
Everyone
wants a competitive advantage, but even tried and tested
methods can't keep pace with the monumental strides being
made with online marketing.
With
online marketing, you can fend off your competitors and
dominate niche markets. The Internet creates a level playing
field where businesses of all sizes can compete. Anyone
can stake a position as a leader. What would it be worth
to your company to be in that position?
And
here's another insight we heard from B2B pros. One of the
unique benefits of the Internet is that is affords smaller
businesses the chance to appear bigger than they are. Online,
a three-person operation can look slicker than an international
conglomerate. You can turn this to your advantage with a
minimal investment of time and money. Indextree can show
you the way.
So,
why is it important to dive into the world of online marketing
now? The hard fact we hear from B2Bs is that once a company
entrenches itself in a certain arena online, it's hard to
dislodge it. At the moment, in most industries, search rankings
and market dominance aren't set yet. They will be, and it
will cost you more down the road to accomplish what you
can accomplish now with far fewer resources.
As
in most areas of business, in the realm of online marketing,
it pays to act decisively.
Online
Buyers are Ready to Buy
Those
who have reaped the rewards of online marketing will attest
to the fact that customers who research and compare products
and services online are much more predisposed to buying.
It's just the nature of the medium. Much of your job of
selling is done by the time someone reaches your Web site.
In
the world of online marketing, your customer is already
looking for your product. They're actively looking to do
business with someone. That someone should be you.
New
Competitors
It's
not something you like to think about, but they're out there,
and they're after your business. New players are entering
your market every day, and they're capturing your market
share.
The
tools we're talking about are a double-edged sword. If you
don't capitalize on the benefits of online marketing, do
you think your competitors will hesitate to do so? Aggressive,
upstart companies are pulling out all the stops, exploiting
economies of scale and using online marketing to extend
their reach.
Don't
just wait and watch while these companies erode the fiscal
health of your company. Can you really afford to have these
competitors encroach on what you've fought so hard to build?
It's time to reclaim what's yours, and online marketing
is the answer.
Commoditization
Trust
us, we don't just throw around big words because it makes
us feel smart. The Internet has given customers an unprecedented
ability to shop and compare, often reducing the buying decision
to price alone. But this "commoditization" of
products doesn't do your company justice, and your bottom
line may already be suffering because of it.
What's
the answer to the problem of commoditization? How do you
distinguish yourself? How do you communicate your differentiating
qualities to potential customers?
Online
marketing provides an excellent vehicle for branding and
also allows you to capture potential customers earlier in
the buying process.
Quality
business interactions are more than just a price point.
Be heard. Stand out. Reap the windfall.
Build
Buyer Awareness and Drive Traffic
Here's
the ugly truth. Many manufacturers and distributors don't
do a great job with their Web sites. We hear this time and
time again not only from the CEOs and Marketing Managers,
but also from consumers.
Site
visitors are often frustrated by poor online marketing practices.
In fact, studies show two-thirds of B2B site visitors complain
they don't find what they are looking for, and almost half
never return to the site as a result. Now, we're not saying
yours is one of those sites. But are you sure you're turning
Web site traffic into sales consistently? What impression
are you giving potential customers when they visit your
site? Are your customers telling other potential customers
how professional and easy-to-use your site is?
Online
marketing has a lot more to do than simply having a visually
appealing Web site. It's more than simply buying keywords
and hoping they'll bring you more business. Buying unqualified
leads from unknown sources is often like putting your money
into a kiln.
Effective
online marketing requires knowledge, strategy, implementation,
monitoring, and follow-through. Those are the skills and
qualities we pride ourselves on at Indextree.
The
High Cost of Waiting on the Sidelines
As
you read this, there's a good chance your competitors are
working on their online marketing strategies. It's even
possible they're making inroads into capturing key customer
segments you may never be able to recapture.
Is
business good right now? Sure. Is it great? Could be better.
With an effective online marketing strategy, it could be
great.
So,
what's it costing you to wait?
Take
it from those who have seen the benefits of online marketing
firsthand. Standing on the sidelines has never been so costly.
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