Selling with Content

Is your company newsletter "all about us"?

How many company sponsored newsletters are regularly read? Since most are promotional content packaged in newsletter form, not many. These, "all about us" newsletters contain news about the marketer’s new products and new sales as well as stories about company personnel, testimonials, and user stories.

While this kind of information is interesting to people inside the marketer’s company, customers often see it as just promotion. How many people are thrilled to get ongoing promotions in their e-mail in box? Not many. 

Marketers who use newsletters as a promotional tool are missing the bigger opportunity of creating a newsletter that acts as a direct channel to customers. It is not hard to do. Instead of sending promotional newsletters, build ones with content which is 80% non-commercial information that customers want to read and 20% company promotion. When customers are sent information they want to read about, they often look forward to receiving it. When newsletters with customer centric content are sent out: 

• Customers read them more regularly.
• Newsletter open rates go up.
• More customers subscribe. 
• More customers stay subscribed.
• Newsletters can be sent out more frequently (2x per month or weekly). 
• The newsletter builds a positive brand image.
• No one gets accused of being a spammer.
• When the newsletter carries a promotion, it goes to a wider audience that is more receptive to the sponsors messages.  

A newsletter that first follows the informational needs of customers and not the promotional needs of the sponsoring company open an ongoing marketing channel of communication to customers. Creating a channel to customers it is a much bigger win than just sending promotions and hoping for the best. 

Search is first source for company news, then online news, then print

The British PR company Edelman has been doing an international survey on the topic of "trust" for eleven years now. Because they are a communications company some of the questions always drift over into media topics. This year's study (2011) was no different. With 5,075 responses from 23 countries the study offers an international perspective often hard to find. One finding answers a questions many in the B to B world ask a lot these days: how do people now find out information about companies? This is an important question ask because as potential buyers begin searching for information, understanding where they are looking helps marketers know how to reach them at this critical time.    

When respondent were asked where they "generally go first" for information about a company, search was the top choice (29%), followed by on-line news sites (19%), and then print sources (15%). Going to the company website received only 11%, and social media only 5%.
Some observations:

• When people want news about a company, the perspective of a 3rd party seems very important, otherwise why wouldn't they just go to the website of the company in question?
• With all the consumer buzz over social media, it does not seem to hold up well as a business news source. Great place to keep up with friends? Yes. Place to find information about companies? Not so much.
• For those who say that print is finished as a communications medium, think again. While a third place finish may not be great compared to a few years ago, it is still prominently on the map.  

Download the entire Edelman study HERE.

 

Print magazines still sell

At the recent Folio show the CEO of Red7 Media which publishes Folio magazine, Kerry Smith, offered a surprising view of what the future of print publishing might be. Challenged, like all publishing companies, with the decline of print ad revenue, Smith has diversified his organization's offerings to include marketing services such as research, and consulting.

But even as less of his company's revenue is tied to print he is more committed to it. Why? Because he has found that his magazines are most often the the first point of contact leading to the sale of all the other services he is now selling.

Despite the migration of ad dollars away from print magazines, the dollars flowing into sponsored magazines are going strong as documented early this year by The Financial Times:

"According to the UK research body Mintel, this type of “customer publishing” is booming. It estimates that the industry in the UK alone is likely to be worth £1bn by 2013. Between 2008 and 2009 it grew 16 per cent, and by 2013 it is projected to increase by a further 22 per cent – no mean feat when the rest of the glossy magazine world is in the doldrums."

What attracts companies is the direct impact on consumers. “Our research has shown that these magazines create an eight per cent uptick in sales,” says Julia Hutchison, chief operating officer of the Association of Publishing Agencies, the representative for the customer publishing industry in the UK. “On average, every customer spends 25 minutes reading these titles. That’s 25 minutes spent with the brand. Lots of companies are redirecting their ad and marketing spends to this avenue.”

In the past, some sponsored publications were little more than product promos. But now, savvy marketers are investing in quality writers, photographers, and more objective journalism to attract larger audiences. The FT article continues:

"Whereas in-house magazines used to be glorified advertorials, today the branding is much more subtle and there’s a genuine effort to tap top editorial talents and introduce original material; Inez van Lamsweerde and Vinoodh Matadin, photographic stalwarts of the fashion publications Vogue and Visionaire, shot the latest YSL manifesto.

The investment makes sense: it gives depth to a brand in an environment they can control. It pushes product without the obvious “sell”, and in many instances may be cheaper than advertising.Asos’ title, for instance, which is known for its mix of celebrity, shopping and entertainment, is now the second largest women’s fashion title in the UK with an annual circulation of 471,522.

Terri Westlake, head of media at Asos.com, says, “Customers are savvy; they understand that it’s a brand title (and not independent), but they still appreciate a very good free magazine.”

Print magazines still provide marketers with a "media marquee" that gives them consistent visibility hard to duplicate in the crowed online world. What Kerry Smith, and a growing number of publishers are taking advantage of is the same benefit we marketers have been using for years. The fall off in print magazine advertising has more to do with new online media emerging that are splintering the print ad budget. It has little to do with the effectiveness of the ability of print to sell.

Read the Whole article in FT

Should your emphasis be on earned, owned, or paid media?

When I was a kid, there was one kind of milk you could spend money on only, the white kind. But now you choose from whole, skim, 1%, 2%, organic, and chocolate. Media is a lot like that. You used to spend money on it for one thing only: exposing customers to marketing messages. Now you choose from “bought media”, “owned media”, and “earned media.” The definitions:

Bought media: media you pay for like print ads and banner ads.

Owned media: media you own and control such as your company website and blog or newsletters and digital magazines your organization publishes.

Earned media: exposure you “earn” by posting content on social networks, forums, and websites that you do not own. Examples are comments posted on blogs, photos shared on Facebook, or videos uploaded to YouTube. Here is chart from a presentation from Alex Wong that illustrates this:

Conventional wisdom says each of these media has different strengths:

Owned media is best for reaching your current customer base. Since your organization should have the most complete list of your own customers, publishing a newsletter or digital magazine to that list should provide the best coverage available anywhere.

Bought media is best for reaching new customers. The weakness of “owned media” is that it reaches largely people who are already customers or inclined to become them, so it is less likely you will reach customers of competitors or new customer just coming to your market. “Bought media” strives for total market coverage which will include the groups you miss with owned media.

Earned media enables your biggest fans to advocate for you. Every company has customers who, if properly motivated, will advocate for you online. While this is basically an organic process that you have no direct control over, smart organizations find ways to encourage this process along. Many mistakenly think that earned media is free. While there is no charge for posting content on most social media sites, the task of doing this requires staffing for the function, and adding staff is never free.

Earned, owned, or paid media. Which should you emphasize?  
If your customer are heavily involved in social media, then earned media needs your attention. If you have not asked about your customers social media involvement in a year, you need to ask again.

 If you sell a utilitarian product like car batteries, or commodity products like toothpaste or paper towels, paid media might be best. When was the last time you saw a passionate bog post or successful newsletter about toothpaste?

If most of your business comes from repeat customers, you need to think more about owned media.

Different media work best for different situations. Along those lines, I prefer skim milk in my morning cereal, but 1 or 2% % for hot coca.

See Alex Wong's entire presentation on slide share