On Words and Business

When it comes to asking for money–whether for the yearly budget or for a specific initiative–you’ve got to have a little finesse. From mobile to SEO to content marketing to lead management to whatever, the people who hold the purse strings don’t care about how trendy this new marketing concept may be. They care about the bottom line.

Some things to think about when creating a business case for a budget or individual project:

• How do the goals of your program fit into the overall goals of the company? How will they improve the bottom line?
• Have you prioritized the goals based on the company’s targets and goals?
• Are your goals measurable? If so, how? If not, why not and why are they important to pursue anyway?
• What are the risks or other variables that could impact your program? Have you forecast how your program will adapt?
• Do you know what key stakeholders think? Did you seek their input and buy-in early on?

It’s a lot of work, but a SWOT analysis can help the marketing team by providing valuable information about the industry and competitors to share as part of a content marketing program.

Strengths and Weaknesses
Mostly internal factors that determine how an organization gains or loses competitive advantage.

Consider things like brand name, reputation, patents, trademarks, business process, access to resources, financial condition. For example, these are strengths if an organization has strong patent protections or easy access to resources. They are weaknesses if the brand name is not well known or regarded.

A strength can also be a weakness. A strong financial position may be a strength in that it allows more robust activities such as marketing or R&D; it may also be a weakness in that it leaves the organization vulnerable to acquisition.

Opportunities and Threats
Mostly external factors that can impact an entire industry or a single organization.

Consider things like new technologies, laws and regulations, demographics, globalization, economy, competitors. For example, these are opportunities when a shift in demographics uncovers a new need and a new market for a product. These are threats when a new law creates onerous and expensive compliance issues.

An opportunity can also be a threat. An economic shift may be an opportunity in that it opens up the market to new suppliers and sources; it may also be a threat in that it reduces demand and makes financing more difficult.

Do you know your audience–the person or group in the organization you are marketing to?

Decision makers can be anyone, but usually is one or more of these folks:

• business line manager (IT, HR, etc.)
• the C-suite
• puchasing department (especially in larger companies)

Marketing isn’t what it used to be.

It isn’t so much about the medium, although that is a key factor. It’s really about producing materials to share with your customers, creating value, and starting conversations.

What have you written lately?

Check out this article on BtoB: Committed to Custom

Do you know what core business goals your product or service helps your customers achieve?

Such as:

• Increased revenues
• Decreased costs
• Improved operational efficiency
• Faster time to market
• Improved customer loyalty
• Increased inventory turns
• Decreased risk
• Improved competitive differentiation
• Increased market share
• Faster sales cycle
• Decreased employee turnover

This is why they’ll listen to you.

A key aspect of content marketing is giving your audience what they need. To do this, you have to learn about and understand trends in your market.  You have to understand what your clients need right now and what they’ll need in the future. That takes a bit of research.

1. Demographics. Who are your clients? Women or men? How old?  What is their job title? Where are they in the country?
2. History. What events or needs have caused them to purchase your product or service in the past? Can you reasonably anticipate these situations in the future? Do you know what signs to look for in their communications and corporate behavior that would indicate these situations?
3. Correlation. Do you understand related businesses and forces that effect your client’s business?
4. Inquiry. Have you asked your customers directly about their needs? Or about where they see the market heading?