Posted by Todd Hockenberry ● Jul 02, 2019
Digital Marketing for Manufacturers
Simply put, a digital marketing strategy for manufacturers determines your ability to connect with modern buyers and answers the question - what are you going to do today to arrive where you want to be tomorrow?
- Do you want to rank number one in search for your key topics?
- Do you want your ideal buyers to find you online when they search for topics related to your business?
- Do you want your content to be viewed as helpful and the authoritative resource for the key prospects for your business?
- Do you want to engage online through social media with influencers, potential partners, employment candidates, and prospects?
- Do you see digital marketing as a way to grow your business or as a cost to be endured?
Or does your digital manufacturing strategy boil down to adding pages to your site when you have a product updates, posting self-indulgent information on LinkedIn every once in a while, and sending boring emails to your list?
If you focus on the tactical side of digital marketing you probably do not see much in the way of results. You probably think of your website and digital marketing as a cost and not as an investment.
I just talked to a prospect that has the goal of driving $2M+ in new revenue by using digital marketing to connect to a new market. They know the market exists, and they know they have a product that is differentiated and effective in this niche. But when I proposed a targeted topic, SEO based, content development, persona focused, digital marketing strategy that was around $60,000 for a year the owner of the business said 'that is a lot of money for a website.' At this point, I am not sure he will change his mindset (though I am pretty convincing and have the case studies to prove we will be successful) because he sees digital marketing as a cost and not as a long term investment. If they ever hope to stand out online, they will need to commit to a strategy to create content and optimize and promote that content. Otherwise, they will rely on outbound tactics like cold calls, list buying, and ads which may or may not be successful - but it will certainly be expensive.
Make no mistake; this is a strategic decision and not just a one-time tactical marketing campaign. Most manufacturers face this same decision - do we invest and commit to a long-term digital marketing strategy, or do we bounce from campaign to tactical campaign and hope we hit a home run?
Why do you need a digital marketing strategy? Because your prospects and customers want you to have one. They want you to be online, sharing helpful content, and being available when they want the information and solutions they are searching for.
I shouldn't even have to say this, but over 95% of B2B searches start with an Internet search. And we all know much of the buying process is over before they ever talk to your sales team (up to 70% of the process in many B2B cases). Search for this data and see the many sources that confirm these behavioral changes for B2B buyers.
So we agree that digital marketing for manufacturers is a critical strategic issue. So now what, where do you start?
You must clearly define why you deliver value to your ideal target customer, how you communicate that promise, and what needs to happen to facilitate the buying process online.
I ask our prospects this question, and too often I hear vague answers like we are great at service or our quality is the best or we have great designs. These things in and of themselves are not value to your customers. Unless you can specify how their world gets better, their problems go away, or their goals are achieved, then you are not adding value by saying quality, service, design.
Many of your customers want the sales process to add value to them, does yours? Could you say that your sales process is a competitive advantage because your team pushed prospects to look at their world in a new way and see how they might take another path to their success? Or does your team talk features and ask lame discovery questions like what keeps you up at night? Is your sales team to be tolerated by prospects or do they add value in each interaction?
You can't focus a digital strategy unless you are very clear on the value you add and why your prospects and customers consider it valuable in the first place.
Targeting Your Ideal Customer
Define your ideal client by answering these questions:
- Who do you help the most?
- What makes you different from their perspective – what do they value that you do?
- Which products and customers do you make the most profit from?
- What are the common behaviors of your most profitable client?
- Who do you and your team get the most passionate about?
- Who are your most loyal customers? What do they have in common?
- What customers are evangelists of your company and why?
- Which customers regularly refer you to other high-value prospects?
- Which buyers will tell you why you were chosen and how they went through the decision-making process?
If your prospects can’t differentiate between you and your competitors -and your team can't make the case that you are different and better - buyers will select a company using the one criterion they can compare – price.
Before you start to execute digital marketing tactics, you need to be very specific about your target market and who you want to work with. You may focus on a particular technology, industry, and product or on solving a specific unique problem.
By identifying your ideal buyer persona, you can create messaging and content that speaks directly to them and their issues, pain, and problems. Your messaging and content will now be helpful in their context about the things they need to know - otherwise, you are stuck just pitching product.
If you do do not choose to focus or your ideal customer, your competition will choose it for you, and it will most likely be the low profit, hard to work with companies that make your life difficult
Targeting the ideal client will help you determine your messaging, while your lead generation activities communicate that message. We typically recommend that our clients use a mix of inbound marketing, outbound marketing, and direct sales prospecting tactics.
Inbound marketing tactics are those that attract prospects using your website, search engine optimization, pay-per-click advertising, blogging, and social media in conjunction with email list building.
Outbound marketing are those more traditional tactics such as direct mail, trade shows, trade journals, advertising, and public relations.
Sales prospecting covers activities that your sales team engages in to generate leads, including warm calling (cold calling should be dead as a tactic), referral generation, and networking.
A good digital marketing strategy for manufacturers incorporates all three tactics. Wait, this article is about digital marketing. Why did you include outbound marketing and sales prospecting? Because they all fit into a digital strategy because they all end up leading back to your digital marketing assets.
If you connect with someone on LinkedIn or a sales prospecting call what is the first thing that prospect does? They go to your website or search for information about your company.
If you send a piece of mail or run an ad in a trade publication, what is the first thing an interested prospect does? You guessed it, they go to your website or search for you or your company online. Yes, I said you, prospects look up the salesperson as well as your company - scary thought for some of you right!
The key to digital marketing tactics is to test small and scale up with what delivers the best prospect leads. Determine the key metrics to measure for each tactic and hold your team accountable for the ultimate results you want to see – generating revenue.
Converting Leads to Customers - The Buyer Journey
A big part of a successful digital marketing for manufacturers strategy is understanding how your ideal customer buys your product or service.
- How do they consume information about solutions like yours? What? Where? When?
- What triggers them to move from digital engagement to talking to a salesperson?
- How long do they take to make buying decisions? Who is involved? Is it one person or a team? How are resources budgeted?
- How and when do prospects interact with your salespeople?
- What encourages prospects to move through the buying process at a faster rate? What friction slows them down?
- Is it required to run demos, send samples, run tests, bring in independent opinions?
- How do they want you to present your solution, pricing, delivery, service?
- How do they feel about the competition?
In other words, how will they get to know you, develop confidence in you, and then decide to invest in you? This is about understanding the buyer's journey from prospect to buying a solution.
Digital Marketing to Your Existing Customers
Digital marketing success is not only about customer acquisition. Good manufacturing marketing also depends on delivering enough value that existing customers buy more often and buy more per transaction. Your strategy should contain a detailed understanding of who is buying from you, how often, how much, and when.
Then you use the digital marketing tactics you developed to find net new customers and apply it to your existing customers. Ever have a customer tell you that they just bought something you supply, but they said they didn't know? Make sure they know. Keep helping. Keep educating. Never lose touch with your customer base and allow a competitor to become their go-to source for information.
Strategy is where you want to end up, and your tactics deliver the results.
Strategy tells how you are going to win in the marketplace, and tactics are the implementation steps that execute the strategy.
Often companies execute marketing tactics very well but lack a coherent strategy. This is frequently the case with small and medium-sized businesses. Companies may have a website, attend trade shows, and run a few ads but lack an overall digital marketing strategy to win in the marketplace. What’s more, by failing to implement a strategy, companies often fail to attract and retain the best, high-margin customers.
You must clearly define why you deliver value to your target customer, how you communicate that promise, and what needs to happen to facilitate the buying process.
Then you have a strategy for digital marketing for a manufacturer.