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Focus to Succeed in Industrial Marketing | Manufacturing Marketing

Focus to Succeed in Industrial Marketing

Target industrial marketing to succeed

Determine your best opportunities, focus your efforts and target your industrial marketing.

Success in any endeavor; business, sports, academics, personal relationships, requires a commitment. A commitment is a decision. Commitment is defined as dedication, devotion and obligation. Commitment is action. You commit to success in your endeavor and direct effort toward the desired result. Your efforts are focused – targeted – in order to succeed.

Look, if you had, one shot
Or one opportunity, to seize everything you ever wanted
In one moment
Would you capture it, or just let it slip?
– Eminem, Lose Yourself

Target marketing isn’t a new concept. What is new is the degree to which you can identify and reach your target. Since the advent of the internet, online use and behavior have evolved to the point where a degree of predictability is now possible.

Your target is online, but there’s a twist. You can identify the existence of a general group, but the majority of individuals remain anonymous. To succeed, your target must find you. This is a complete reversal of how industrial marketing has traditionally functioned. Consider the following statistics:

  • 9 out of 10 business buyers say that when they are ready to buy, they will find you
  • 81% of these buyers start the process with a web search
  • Many of them are 50-60% of the way into the buy cycle before they will even make contact with a vendor

G3Com, Content Preferences Survey

The buyer / seller dance is now initiated by the buyer 90% of the time. They find you. The question becomes “how do you increase your chances of being found AND CHOSEN?” This goes right back to targeting and committing to success. Targeting is the first and most important step of the entire process.

The foundation of any marketing program is in deciding the best, most profitable use for the skills and capabilities of your industrial company. Which companies purchase this best use? What information do they need in their decision making process? What roles are involved? Knowing this information is critical, but impossible, without defining the target.

Let’s be clear. I hear the same objection over and over: “We can do lots of things. We don’t want to turn away potential business.”

Stating clearly what you do is not the same as saying what you won’t do. The fear of narrowing your market keeps you from being able to claim expertise within a specific niche. Your potential buyers are searching for expertise. In a crowded market, expertise is what separates your company from all of the “we do everything” generalists.

Fear is the biggest hurdle in all of this. Fear of commitment to the wrong course of action. Fear of failure. Courage in your convictions, commitment and target is what will ultimately determine success. There is no easy answer, and half measures return half the result. Marketing has always been – and still is – a leap of faith.

This obviously takes a lot of effort and it’s not easy. Success never is.

photo credit: comedy_nose via photopin cc

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