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By Michael Stults
June 24th, 2011

First off, I want to point out how excited I am to be writing this blog. For those who haven’t noticed, I’m new here at Canyon and this is my first post. I am super-excited to be a part of this great and talented team, and I look forward to posting more in the future.

Social Media TechBubbleThere has never been any real doubt that social media is big. However, recent valuations of some of the social media giants provide us some insight as to just how big they really are. While it does not come as a shock to most to see the values of social media bigs like Facebook, Twitter, LinkedIn, and Groupon to be substantial, the fact these companies have annual revenues that are a small fraction of what they are worth is intriguing.

Facebook received a recent valuation of $75 billion, making it more valuable than Disney. This is despite the fact that Facebook only has an annual revenue of $2 billion, while Disney on the other hand has pulled in over $38 billion in 2010.

To see these companies valued at so much more than their revenue is confusing for some. Marketers however, should be enthused by this. The valuation of these social media giants is reflecting their utility. Facebook may only gross $2 billion a year, but how many other mediums allow you to engage, interact, and network with over 700 million people?

The fact that these social networking mediums are growing not only by users but also by value, is testament to the fact that marketers are on to something when then invest in social media marketing. They have recognized that social networks have extreme value and potential in regards to connecting with consumers on multiple levels, and it appears that financial investors have jumped onboard as well.

These extremely high valuations and bubble margins exemplify the effectiveness of social media, and represent just how much potential they have (an apparent potential that is worth about 50 times the annual revenue).

So what are you waiting for? Social media is booming, you don’t want to be left out. While some of these companies like LinkedIn are publicly traded (and trading for a solid $100/share), I don’t mean join into a piece of shareholders pie, but rather, become active in the extremely successful, scalable, and ever-catchy social media world that nearly 10 percent of the world’s population is already involved in.

For some B2B marketers, social media can be a new and unfamiliar, so they have been avoiding it, or afraid to try it. However, there is so much material and guidance available, than anyone can dive into it and with a little research and effort, become effective at it.

The beauty of social media is that there is plenty of room around the fire for whoever wants to join in.

There is so much opportunity and room for growth. This is why investors recognize the immense power and potential that social media has, and why they are willing to place such a large price tag on it. Is your latest B2B campaign tapping into the power social media? Can 700 million people be wrong?

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By Cheryl Johannes
June 3rd, 2011

European company, Baseone Buyersphere, released their 2011 report on the new B2B Buyer Behavior.  I read it and you can, too.

Tony Ambrito with Customer Think provides a great recap of the report. I really enjoyed reading it and would like to conclude with my own pressure points for B2B marketing professionals:

Buyers Take their Appetite for Information Online

Supplier websites and web searches tested highest for most frequently used source of information overall. They’re searching, which means when your website pops up, whether from a direct, referring or organic hit, it needs to be immaculate.

Satisfy their Hunger with More Content

Not too far behind Supplier websites and Web searches were Industry press, Press Advertising and Online Events/Seminars. Which begs the question – are you pumping out valuable, relevant content in the right channels?

The report also detects that buyers are looking for issue-based content – solutions to issues they’re experiencing, not necessarily a new supplier. Some are even saying that intent and context is the future of e-mail marketing.  Content, content, and more content!

Offline Events Still Influence

Although offline events and seminars received a drop in use, it reported still as the most “influencial”. Meaning in-person experiences are just as important as online user experiences.

Tradeshows shall live on!

Bottom line: perfect your content marketing strategy and everything else will fall into place. Is your B2B content marketing strategy up to snuff?

image credit: Buyersphere

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By Dara Schulenberg
May 31st, 2011

When asking “who visits your website?” the response typically falls in two categories:

  1. Visitors are identified by their what – a C-level executive, VP of _________, Manager of such-and-such; or,
  2. Visitors are identified by what they do on the site (how they arrived at the site, how many pages they visit, etc.)

Your poor site visitor! They probably thought they were more to you than a page view or a title.  And no wonder your website stinks – do you know how hard it is to write compelling copy for a title who visits 1.9 pages in 32.6 seconds?!

Don’t get me wrong.  I love the website whats.  You’d be hard pressed to find a bigger fan of Google Analytics at Canyon.

So I will ask again, do you know who your site visitors are?  Not who you want them to be; but who they are really.  Do a little digging, and I promise, sometimes the answers will surprise you.

If you’re in the majority of business-to-business marketers, you are likely in the early stages of moving from outbound marketing to inbound marketing.  And the reality is you may not know who your visitors are.  And without knowing the whos, how can you:

  1. Know if you are reaching your target audience; or
  2. Optimize your site for conversion?

But enough of my bad guy act.  The good news is discovering your website whos can be simple and quick thanks to Bizo – a business targeting platform of rich, anonymous business demographics of 85 million worldwide web users.

  • Sign up to get your free Bizo Analyze site tags
  • Put the Analyze tags on the pages of your site you want to track
  • Within 24 hours, you’ll know the whos of your web audience- by industry, job function, company size, seniority and education.
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Soon you too can be wowing your peers with your audience insights and pretty charts.

And even more importantly, you will be empowered to think of your website visitors as more than just another title.

Understanding the business demographics of your web site visitors empowers crucial next steps in optimizing your site for conversion.  Our discussions will quickly migrate to:

  • Personas
  • User Stories
  • Information Architecture
  • Content Strategy
  • Micro and macro conversion paths

And most importantly, you begin to make strides transforming your marketing (from outbound to inbound) and dramatically increasing marketing ROI.

Aren’t you glad to be speaking to your whos and no longer just the whats?

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By Shannon Martin
May 27th, 2011

GigWalkI was recently introduced to a market research app called GigWalk, an app that gives businesses the ability to verify information, conduct market research and more by ‘hiring’ people with smartphones to complete tasks on the fly for varying costs. What’s more – anyone can post a ‘gig’ or project using the app—so within minutes you could have hundreds of people performing tasks or responding to a market research survey across multiple cities for anywhere from $7-25 a gig.

Market research can be incredibly valuable to your company whether you are dealing with consumers or the b2b world. While GigWalk is specific for consumers, there are numerous market research options for businesses that target other businesses.

Market research is often considered an unimportant step in product development. Yet, companies spend hundreds of thousands of dollars investing in concepts, brands and identities that may not have failed if they had just asked their audience what they thought up front. Let me ask you this – how many readers out there purchase or believe in insurance? IMHO (In my humble opinion for you non-texters out there), market research is merely a form of insurance that protects your company’s investments.

While Gigwalk takes this approach with consumers via mobile devices, we at Canyon could help you conduct your market research in a multitude of ways:

It’s also important not to limit market research to your physical brand or products when you can also use market research to perform gut-checks on your company’s employees, processes, programs and more. Recently, Canyon and our sister-company Loop Demand Gen conducted a market research survey with more than 400 of our clients’ ‘best,’ ‘existing’ and ‘dormant’ customers, and what they found both confirmed their concerns regarding one program but pleasantly surprised them on another. And yet, asking your customers what they want and are looking for is a step many of us forget.

Unfortunately for me Gigwalk is a startup and not yet available in Phoenix, but I plan to take advantage of this tool as soon as I can. Do you think an app like Gigwalk would work in the B2B space? Have I convinced you to engage in market research?

Image credit: GigWalk

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By Matt Hensler
May 23rd, 2011

B-E-E-F. This simple acronym was the mantra of the rec league basketball coach who taught me the fundamentals of shooting a free-throw. Balance. Eyes. Elbows. Follow-through. Each of these components is important to creating the fluid motion and focus needed to become a functional contributor to your team at the free throw line. While each component is important, none are more essential than the last one – follow-through.YouTube Preview Image

In B2B marketing, follow-through is also paramount. A great idea is only as good as your ability to follow-through and execute. Ideas it seem, are easy to come by, but absent a clear plan of action, and a business’s ability to execute operationally, even the most attractive ideas become worthless.

How many times have you been in a meeting where a great idea is born? You see a lot of heads nodding yes. Everyone seems excited and on-board. You think the positive vibes swirling about the room will surly culminate into success for the company. But, inevitably, nothing happens. The good ideas become marker dust in the tray of the dry-erase board. Business as usual perseveres and the company continues to fall behind the marketing curve.

Companies that want to buck this trend, make sure they have the resources necessary to carry out those great ideas. They understand that if you take the effort to plan, and are looking to adopt new strategies and methodologies to engage prospects, that there is also a need execute on that plan. If you are like most other B2B organizations, you understand that it is easier said than done.

Too little time, too few resources and political turmoil make execution seem all but impossible. If these challenges sound familiar, then partner with a firm that is willing to spend the time learning about your complex products and services, that has a comprehension of leading marketing communications, sales support and customer engagement techniques, and who has an infrastructure with complementary resources you need to follow-through.

So is the take-away from this blog post really about something as trivial as execution of marketing plans and tactics? The simple answer is yes, but the challenge is to ask yourself how well you are really doing at executing on your best marketing ideas. Now that we’re almost half way through 2011, ask yourself whether you are just getting to the line, or if you are you actually finishing. While it seems like one of the simple ‘fundamentals’, the reality is that a lack of execution keeps a lot of B2B organizations standing idle. It is only by continuing to emphasize and master the fundamentals that you’ll be able to become a functional contributor to your company’s top line.

What great ideas are you lacking the resources to execute? Is it time to open up your file cabinet and start following-through on some of those plans and strategies you worked so hard at the end of last year to develop?

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