Content Creation & Social Media: Jobs for the Entire Company

February 13th, 2012

For many marketers, content and social marketing presents tremendous opportunities, but also some considerable challenges.  We frequently see marketers that get off to a great start, delivering engaging content and participating fully in the social discussion, but run out of steam as they realize that once you start feeding the beast, you can’t slow down.  The best marketers turn to one simple technique to ensure they can keep up with the demands of their audience – leveraging the skills of their entire company.

Frequently, marketers do not realize that there is a bounty of amazing content available right inside their company. When it comes to content development and social media participation, it is important to utilize the strengths of the entire team, as it is entirely possible that a relevant blog post, whitepaper or a podcast could originate from any source within the company.

Ideally, content marketers should create a team of individuals who offer different perspectives from their respective departments. For instance, a developer who has identified a new or interesting way to use your product to solve a specific business problem could be the ideal author of a useful and informative whitepaper.

Unfortunately, this subject matter expert may not necessarily have the writing skills, or time, to sit down and turn it into a finished product. We find that an effective way to tap into this source of knowledge is for your marketing team to create a list of questions for the expert then interview them either on video or audio tape. The original ideas are captured, and once transcribed, a professional writer can turn that interview into an amazing piece of content.

This method is an interesting way to get all kinds of people involved in content creation. At Manticore , we are big believers in recording, transcribing and then editing in order to create relevant, compelling content for use in our overall content marketing effort.  (In fact, this blog post started from a recorded interview.)

The same principals can apply to social media engagement.  Different employees in your company can be given the responsibility to represent the company in different forums based on their area of expertise.  It is important to provide employees with a set of guidelines as to what is appropriate (and not appropriate) to post, but you don’t want to put handcuffs on them that prevents them from doing anything interesting around social networking. They must be allowed to help the company, utilizing the appropriate message and tone. In general, companies need to give people guidelines, provide them with adequate training, and then turn them loose allowing them the trust and freedom to make their own decisions in regard to social media outlets.

In our case, we routinely participate in the various marketing automation forums.  We have a group of people with diverse talents who monitor these groups and participate in the discussion on a regular basis. These are indiviuduals that we fully trust and do not need to monitor their activity. We do not review their answers or put them up for approval. We rely on the training we provided and the choices we made in selecting these employees to represent our company in the social world.

Content creation and social media participation can be overwhelming for the marketing managers responsible for them.  Leveraging non-marketing employees by enabling their participation helps lighten the load and increases the diversity of both your content and your social presence.

For more ideas on content development, see our blog post  “Inspiration for Compelling Content Found in the Simplest of Places”.

 

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Jeff Erramouspe

Interview: Current Marketing Automation Pricing Trends and the Market Impact

February 10th, 2012

Jeff Erramouspe, President of Manticore Technology , and was recently quoted in a DemandGen Report article on the trends around the average selling price of marketing automation solutions and the possible impact for the future of the market.  Following is the complete interview:

DemandGen Report:  We have heard a lot of volatility and competitive pressure in terms of pricing in the marketing automation space. While we heard Average Selling Prices were starting to recover in August around Dreamforce, we’ve heard they have started to dip down again in the fall and toward the end of the year. Have you seen this trend and what do you attribute it to? What’s driving the change/pricing pressure? Are some marketing automation vendors being more aggressive? 

Jeff Erramouspe: We have seen selling prices drop over the past six months, particularly at the lower end of the market.  That is, companies with revenues less than $20M are looking at an increased number of solutions with price points less than $1000 per month.  A lot of this was driven by the Spark by Marketo announcement, and in order to continue to win business, we are required to respond to it.  Fortunately, we target customers who are between $20M - $150M in revenue.  As you get higher in revenue, there is less price sensitivity, but there is still some downward pressure driven by the lower priced products. Marketo, Act-On, and Pardot are all pretty aggressive on the pricing in the small business segment.  Vendors have also gotten more aggressive on payment terms, offering month-to-month agreements with no long term contract required.

DGR: What impact it could have on the marketing automation market—long-term?

JE: There are a couple possible impacts.  First, the low price is causing a lot of people to take a look at marketing automation platforms who otherwise might not.  The closer the pricing gets to that of an Email Service Provider, the more likely people are to buy up.  Unfortunately, many of those that do buy up don’t necessarily have all the skills they need to take full advantage of the technology they are purchasing.  I believe that this could ultimately cause a higher percentage of failed marketing automation implementations.  We are ready struggle with this as an industry, and I think this could add more to the perception that it is difficult to get value from a marketing automation platform.  At the higher end of the market where we target, we have fewer problems with this because we deal with more sophisticated marketing departments who understand the investment they need to make to take full advantage of our platform’s capabilities.

The second issue is that the low monthly cost and the ability to cancel the contract with no strings attached will put a tremendous amount of pressure on the business models of some vendors.  Implementation and training can be both expensive and time consuming to provide to a customer.  Incurring that expense with a less sophisticated customer who could possibly walk away at a moment’s notice is difficult to justify.  Those vendors that have the easiest product to use and provide the right online and automated tools will be in the best position to serve those customers profitably.  Our latest release, Manticore Winter 2012, was designed from the ground up to help us better thrive in such a competitive environment.  It will dramatically decrease our costs of onboarding new customers.

DGR: What are customers and prospects now expecting to pay for a marketing automation solution –what is the perceived value? What should customers expect to pay for a marketing automation solution? 

JE: We are seeing some deals being done below $1000 per month in our smallest customers.  However, we’re still seeing plenty of business at$25,000+ per year, paid annually up front.  We believe that over time, we will be able to justify the value that we provide to our customers and will see overall price per customer increasing.

DGR:  Are there comparisons to CRM, Email or other technology platforms? 

JE: I think at the low-end, marketing automation platforms get compared to email marketing platforms all the time, mostly due to the similar capabilities.  We are starting to see some marketing automation vendors adopt a pricing strategy based on email volume.  In fact, the typical $750/month price you see is somewhat misleading as some vendors have an email volume kicker sitting on top of that.  We have not restricted our customers email volume in such a way.

DGR: Can the market scale from entry-level pricing, as CRM vendors have — in terms of users, etc?

JE: For marketing automation vendors, the hard part is that there are many more users or seats that get sold in CRM implementations.  Most companies have far more sales and customer facing employees than they do marketing employees.  Seat based pricing doesn’t have any real way to scale in a marketing department.  One way that this can happen is if there is a part of the marketing automation solution that sales might use.  Again, some of the low-cost products require you to pay extra for the sales oriented functionality.  Like with email volume, we provide our sales functionality as a standard part of our product and do not charge extra for it.

DGR: We’ve heard industry anecdotes about concerns of a “race to the bottom,” in that if vendors aggressively shoot to be the lowest price solution, that drives the category down and devalues the technology in general. What are your thoughts on that?

JE: In my view, there is some truth to this.  It seems really early in the evolution of the market for all of us to be competing on price.  Estimates are that only 25% - 30% of the B2B marketers who need a marketing automation solution have one, so there is a lot of untilled soil out there for us to go farm.  It is clear that some vendors believe that the best way to gain market share is to be the low price provider.

DGR: From a customer and user standpoint, what are the concerns about the service experience?  Have you seen this in the market? How has it affected your brand?

JE: We have acquired some customers from other vendors as a result of a poor initial service experience.  As I stated above, this low cost model puts pressure on margins that could cause some vendors to provide a less than optimal user experience.  When we sign up a customer we are fully committed to their success.  If we can’t do that, we won’t take their business.  I think the advantage that we have in service has very positively impacted our brand.

DGR: What other concerns do you have with regard to pricing and how it will affect the market?

JE: I’ve stated most of them, but my biggest concern is that as an industry we will create the impression that marketing automation is low-value, low-cost software.  If we all focused on delivering value rather than competing on price, it is possible that the market would actually grow faster and be more sustainable than it already is.

 

To see the full DemandGen Report article visit here: Falling Prices At Low End Of Marketing Automation Sector Bring Pain, Pressure For Emerging Category

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Jeff Erramouspe

Reflections on the 2nd Annual Content Market Retreat

February 9th, 2012

As the 2nd Annual Content Marketing Retreat unfolded, the Langley Center for New Media was like a petri dish for best practices, thought leadership, and revolutionary ideas for content marketing. I was honored to be a speaker (and Manticore Technology a sponsor), joining experts from across the U.S. to present on current issues surrounding content marketing and share case studies and tips on how to maximize various aspects of a successful content marketing campaign. The experience was very enlightening. Personally, I acquired enough knowledge on these two days to fill a book (now there's a content marketing idea), and I wanted to take a minute to share a few key ideas from the retreat that had the biggest impact on me as a B2B marketing entrepreneur.

  • Tell stories. Story telling not only creates engaging content, but stories help build rapport with your audience. It is important when building a content marketing campaign to define and construct the story you wish to tell. Your story should create an emotional connection with your audience that turns leads into customers.
  • Content curation is an art form.  You don't always have to create original content to be an effective content marketer.  As a curator, your goal is to precisely select the best content to support a story that is meaningful for your audience. Adding to the conversation by collecting the right content is like being a museum curator; you're helping find relevant content your audience wants to see. 
  • Content turns customers into advocates.  When your not in the room and someone says something bad about you, will your friends defend you?  If you're a company and the room is the Web, who will come to your defense?  Engaging your customers with good content that delivers on your brand promise will turn them into advocates - and your defenders when you're not in the room.
  • Speak to your audience's "wants" not just their "needs". As marketers, we're trained to tell our prospects what and why they need our product.  As Rod Brooks, CMO of Pemco Insurance stated, "People need insurance, it doesn't mean they want to talk about it."  To fully engage your audience, make sure your content talks to their wants, not just their needs.
  • Marketers must become publishers. Content marketing requires a steady flow of quality content to be effective.  As such, marketers must adopt content creation, editing and production processes that mimic publishers' processes.  Even more important, marketers must tell compelling stories and really understand what their audiences want to read in order to be effective.

The 2nd Annual Content Marketing Retreat was a huge success and an exceptional two days of idea sharing and industry best practices for content marketing.  Read more from the speakers at the Content Marketing Retreat here.

Read more about the Content Marketing Retreat here.

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Jeff Erramouspe