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In part one of setting marketing budgets for 2013, we discussed online marketing. However, B2B businesses don’t just find success through online marketing strategies; offline marketing proves to be valuable for those in the B2B realm. In a 2012 study commissioned by Forrester Consulting, SMBs showed a marked preference for traditional face-to-face techniques as personal networking, trade shows and seminars topped the list. While online marketing is a valuable asset, you can’t ignore offline opportunities as they are valuable, long-term brand builders.

Face-to-Face

Many B2B businesses have a preference for face-to-face offline efforts. Meeting a prospect in-person can sometimes create a deeper relationship than one developed online. While at a trade show, seminar or other face-to-face event, your team has the opportunity to network, gather information for reaching out at a later date and market your brand and business. Trade shows and seminars get all the right people you want to connect with under one roof, help you convert leads, and can propel your business into the position of thought leader as you provide valuable information to those attending.

• Forrester Research found that 16 percent of B2B marketing program budgets was allocated to trade shows and another 9 percent went towards their company’s presence at events.
• A 2011 MarketingSherpa study found that B2B businesses, on average, allocate 21 percent of their marketing budgets to trade shows. If you’re going to be using nearly one-quarter of your budget on tradeshows, make sure it is worth the investment. And be sure to have your pre and post-show email marketing and sales initiatives well planned out to get the most bang for your buck.

Print Marketing

In order to stand out, you may be considering increasing your print marketing b
udget for 2013. From customized direct mail pieces to unique business cards, print marketing can put your business center stage. Since many companies have moved away from it, direct mail can be especially effective at catching the attention of your audience. Effective direct mail is rarely standardized. You’ll need to vary your copy and design based on the segments that emerge from your database analysis, similar to segmenting your email marketing messages.

• According to USPS direct mail stats, 12-15 percent of people went to the company’s website and made a purchase after receiving a letter or catalog.
• The Direct Marketing Association’s “Quarterly Business Review” – based on an online survey in October — found that 75 percent of respondents are confident about the growth prospects of both digital and direct marketing.

When it comes to offline marketing, such as direct mail marketing and networking events, consider the cost per conversion. How much was invested in the fliers, swag bags, travel, etc. and did the company make a significant enough to make these events worthwhile? By analyzing your 2012 offline marketing investments and finding the areas where your business was most successful, you can reallocate your budget for 2013 accordingly.

How is your marketing team getting ready for 2013?

Credit Card Processing & Your Business

Know The Process of Credit Card Processing

It can be tricky at first, but a credit card transaction has basically four stops along the way: the customer's bank, the card company that issues and backs the card (like Visa or MasterCard), a third party clearing the deal (although it might also be the customer's bank), and finally your bank to receive the transfer.

Assess Setup Costs

The upfront costs of credit card processing can include buying equipment to accept credit cards, set-up fees, or putting money into a kind of escrow called a reserve account. Most of this is sunk cost, and can set you back anywhere from $500 to three times are much.

• Many vendors will offer to cut set-up fees or discount credit card processing equipment.
• Some may charge if you choose to change your equipment down the line.

Find a Fee That Fits

Having a credit card merchant account is vital to many small businesses, but be sure you find one that is right for you. Some contracts favor businesses that process thousands of small transactions (like fast-food vendors) whereas others will be better for lower volume, high priced goods (like an antique shop).

• Consider that the per-transaction rate average ranges from 1.5% - 3%.
• Be sure to inquire about the pricing break down – while it may appear to be one, fixed price, there are a number of fees that go into it including annual fees, interchange and assessment fees, and processor markup.

Beware Fine Print in Contracts

Would you agree to eat lunch at the same coffee shop for three years? Buy toilet paper at the same store? Chances are you wouldn’t. If you're not careful, signing on with a credit card processing company could tie you into a lengthy commitment or charge you over $300 in cancellation fees.  

• Look for service cancellation fees, or long-term commitments.
• Look for monthly minimums or maximums; you don’t want to sign up with a service that requires you to have a minimum monthly processing amount if you can’t reach it.

Don’t Forget Online and Mobile Processing

Using a traditional point-of-sale (POS) system keeps you tied to one spot. However, there are a number of other options you can use to make more sales, including online credit card processing and mobile credit card processing.

• Ecommerce sites are quickly becoming a necessity, and having the right processing service in place will be critical for customer service and your finances.
• Mobile processing allows you to sell anywhere, from your bricks and mortar store to the local festival down the road. With minimal fees, you will only have to worry about a fixed swipe fee.  

Top 3 Business Loans

Start-Up Business Loans

Business start-up loans provide funds for the purchase of everything required to get the business up and running. Some businesses borrow enough through their start-up loans to pay the business' expenses for the first three-to-six months in operation.

• These loans can be secured loans on equipment and property or unsecured lines of credit for other expenses.
• Compare business start-up loans carefully. Look at interest rates, terms and the amount the lender will provide. Consider unsecured lines of credit if you’re struggling with credit problems.

Private Business Loans

When it comes to private lenders, business loans are a substantial part of their investing. This type of lending allows for borrowers to obtain money from investors, companies or others that are not associated with commercial banks. Generally, the process requires a less stringent approval process, with lower credit requirements. Some private lenders are every-day citizens.

• Obtain a business loan from a private lender locally by finding a partner or equity investor in the company.
• Third-party resources to find private investors such as Second Venture, which helps businesses build capital by connecting them to investors.

Government Business Loans

Small business loans are available through the federal government. These SBA loans are federally backed loans for a variety of business needs including start-up, real estate purchases, equipment purchases and expenses. These loans typically have lower interest rates and help millions of small businesses to start or remain open.

• Apply for a bank business loan through the Small Business Administration, the division of the federal government that provides small business loans. They offer disaster assistance loans, start-up loans, and equity capital and surety bonds.
• To receive an SBA loan, go through a commercial lender that will help you qualify for government funds.
• Some businesses can qualify for specialized economic development loans through the Economic Development Administration, which is part of the U.S. Department of Commerce.

Investments in commercial business loans often require a well-planned, professional looking business plan. Be sure your business plan is comprehensive and shows how to intent to spend each dollar of your loan; this allows the lender to see how the business will be a profitable, viable entity.

According to Biz2Credit Small Business Lending Index in March 2012, small bank lending approval rate was at 47.6%, alternate lender approval was at 63%, and loans by credit unions had a 57.9% approval rate.  Once you have figured out what type of funding your business needs, take all the steps necessary to get your loan approved.

There’s Black Friday for in-store consumers, Cyber Monday for those who like to shop online, and in 2010, American Express started Small Business Saturday. Small Business Saturday is the day to celebrate the Shop Small movement to drive shoppers to local merchants across the United States. This year, Small Business Saturday falls on November 24^th. If there are small businesses in your community that you would like to celebrate, consider shopping there on the Saturday after Thanksgiving. B2B businesses can embrace this holiday and use it to market their companies to customers while boosting end of year sales. Here are 3 steps you can take to make the most of Small Business Saturday.

Get Local

Reach out to businesses and customers in your area to let them know what your business is doing for this Saturday. Small businesses are sometimes dependent on local customers to stay afloat. Make sure you’re marketing to those in your area.

• Send out emails with a Small Business Saturday focus. Because many small businesses are local customer driven, make sure you reach out to those in your area.
• Online and print classifieds are an excellent place to spread the word about local promotions and special offers. Classified ads are perfect for listing everything and anything – and they’re easy for other to sort through.
• Find a cause to contribute to. Getting involved with the community by donating a portion of the day’s sales is another great way to promote your business as a place to shop on the 24^thfor those in the area.

Show Off Your Store

Whether you’re online, site-based or a mix of the two, show off your store. You know what your business’s best assets are, from community involvement to eco-friendly products, and Small Business Saturday is a great time to display the reasons why people need to shop at your store.

• Search for the latest trends in storefront decorations or web design. Changing up the display of your store or website and landing pages to match current holiday trends could bring in a slew of new customers.
• Use what you have in a new way. If you have a TV or tablet, create a photo-driven slideshow of products, your sales, and hint at reasons why people should shop your store for Small Business Saturday. Light up your storefront with the right technology.
• Create a landing page for your website that is Small Business Saturday specific. You can feature deals, product information, and additional details about why customers and businesses should participate.

Market Online

In order to make the most of Small Business Saturday, think long-term and how you can connect with new customers while engaging with current ones. For both those in the B2B and B2C worlds, this means marketing effectively.  Use your online marketing channels to promote Small Business Saturday and how your business is participating.

• Post coupons on your blog or website, advertising Small Business Saturday specials for only those who follow you online or visit your site.
• You can capitalize on Small Business Saturday traffic by encouraging visitors to sign up for text alerts, emails or coupons in the future.
• Promote your business and its participation in Small Business Saturday on NFIB, social media networks, and other platforms where you share content.

According to an Echo Research survey, Small Business Saturday was celebrated by one hundred million people in 2011 and that number looks like it is on the rise for 2012. Make sure your B2B business gets involved, markets its participation, and optimizes traffic generated for future outreach. With eye-catching displays, design and promotion, you can create new customers and retain current ones. Shop small; shop local.

Is your business participating in Small Business Saturday? What methods are you using for marketing?

While content marketing may be the talk of the town, it isn’t just about a blog or social media – especially when it comes to lead generation. B2B sales teams are finding success in other forms of content marketing, including live demos and free trials. While interacting with customers on social media is one for a sales team to generate leads, it isn’t the only option. Software Advice in a survey conducted in partnership with Eloqua and CMO found that some types of content produce better results than others.

High Quality Leads

80 percent of those surveyed rated live demos with a sales representative as delivering high quality leads. “Get pricing/price quote” was rated as generating high-quality leads by 46 percent, with free trials following at 37 percent. And when 10 percent increase in lead quality can generate a 40 percent increase in sales productivity (Marketo), generating high quality leads is one way your business can have a positive impact on its bottom line. Make the most of your demos by starting with these simple steps:

• Narrow your content. Focus on the key features and how these bring value to your audience’s business.
• Show off your product and, if possible, get it into the hands of the customer during the demo. Let prospects see how your products work first hand.
• KISS it. Keep it short, sweet and on point. Keep your audience engaged by staying on topic and let the product sell itself.

High Quantity Leads

Respondents of the survey looked most favorably on free trials. 50 percent rated the quantity of leads generated by free trials as high, while about one-third said the same about live demos with a sales representative and white papers. However, the “B2B Demand Generation Benchmark Survey” revealed free trials came in 10th when it comes to content marketing adoption rate, with 61 percent reporting use. As you pull together your content strategy for 2013, see how you can get free trials for new leads.

• People love getting free stuff – by getting your product for free, they’re more likely to try it. You can start charging once people know how great it is.
• This may not work for every product/service, allowing your potential B2B clients to use what your business offers for a free trial period is one way to convert a lead into a customer.
• Free trials are great for businesses that offer products such as business payroll software or high-margin items, ones in which a positive initial experience gives the potential customer the confidence needed to make a buying decision.

In B2B marketing, online marketing isn’t the only option for generating new leads. Live demos and free trials are a great way for your sales team to get products into the hands of customers who haven’t made a buying decision. While email campaigns and follow up calls are one way to nurture leads, a live demo can place your brand in front of someone who may not be well-versed, while free trials can help your business reach a new audience. If you haven’t begun making the most of these two opportunities, it is time to take a second look at your strategy.