| "When doesn't money matter?" exclaimed one of | | | | Click (PPC) advertising, as the name |
| my clients during a recent conversation about | | | | suggests, charges a pre-determined fee every |
| the merits of industrial internet marketing. | | | | time someone clicks to your website from an |
| His company, a medium-sized electric motor | | | | advertisement placed in a search engine's |
| supplier, was earning approximately $15 | | | | results page (e.g. Google or Yahoo). Because |
| million dollars in annual revenue - a long | | | | the majority of web surfers use search |
| way from 1991; his first year in business and | | | | engines to find products and services, it |
| sales of $145,000. We were discussing the | | | | makes a lot of sense for companies to place |
| company's 15 year history and looking over | | | | their advertisements on these pages. |
| his portfolio of trade journal advertisements | | | | Consequently, it also made a lot of sense for |
| and tradeshow booth pictures. Many of the | | | | my client.For over a year and a half my |
| trade journal ads were proudly displayed in | | | | client's business has been using Pay Per |
| the front lobby, laminated on beautiful wood | | | | Click marketing to target online prospects |
| plaques with brass plates denoting the | | | | searching for electric motors, specifically |
| magazine issue and date. Whereas most of the | | | | the type that his company manufactures. |
| tradeshow pictures were kept in a leather | | | | Furthermore, his marketing dollars are |
| binder, casually surfacing at the end of | | | | producing a handsome return on investment - |
| facility tours with vendors and | | | | remember he only pays on advertisements that |
| distributors.My client was proud of his | | | | were clicked, sending a visitor directly to |
| company's success and prominently showcased | | | | his website. Compared with tradeshows and |
| his yesteryear marketing memorabilia. At a | | | | trade journals, Pay Per Click marketing is a |
| glance, most people would suspect his | | | | tough act to follow.Let's assume that the |
| industrial company spent a good deal of money | | | | average industrial tradeshow costs around |
| advertising in multiple trade journals. | | | | $4,500 to attend and that the average |
| Additionally, it would seem a safe bet that | | | | half-page, four color advertisement in a |
| his Sales team spent the better part of their | | | | single trade journal issue costs |
| time on the road attending tradeshows. Both | | | | approximately $3,900. Turning our sights to |
| assumptions would be dead wrong. For the last | | | | Pay Per Click marketing, we'll assume that |
| couple of years, my client's focus has been | | | | the average cost per click is somewhere in |
| squarely set on his company's web presence. | | | | the neighborhood of 0.35 cents...now let's |
| While it's no secret that smart B2B suppliers | | | | work out the math.If my client attended a |
| and manufacturers harness the Internet's | | | | tradeshow ($4,500) instead of Pay Per Click |
| flexibility to save money and bolster sales, | | | | marketing (0.35 cents per click/website |
| there are a large number of industrial | | | | visitor), he'd have to showcase his entire |
| companies behind the proverbial curve.About | | | | product line to at least 12,857 expressly |
| three years ago his company saw a trend | | | | interested people ($4,500 / 0.35 = 12,857). |
| emerging - "no name" competitors were | | | | Furthermore, Pay Per Click marketing only |
| cropping up, seemingly out of nowhere, and | | | | requires a fraction of the resources and |
| reaping the rewards of a strong web presence. | | | | manpower that go into planning and attending |
| Some of these online competitors were | | | | a tradeshow. Lastly, Pay Per Click marketing |
| headquartered overseas, however the majority | | | | is completely measurable, capturing real time |
| of them were U.S. based manufacturers who | | | | marketing data through web-based |
| creatively stretched their modest marketing | | | | reports.Applying the same logic to a single |
| budgets on the Internet. During this time, my | | | | trade journal advertisement ($3,900) vs. Pay |
| client ignored the "hype" surrounding the | | | | Per Click marketing (0.35 cents per click |
| World Wide Web and stayed the course, | | | | website visitor), my client would have to |
| attending his usual roster of tradeshows and | | | | ensure that 11,142 qualified prospects found |
| advertising in a faceless number of trade | | | | his ad page, read his advertisement, and then |
| journals.About one year later, my client | | | | immediately logged onto the Internet to |
| began rethinking his hasty disregard for | | | | access his company's website for more |
| everything Internet. After all, several of | | | | information on the product in question. |
| his largest suppliers were now offering | | | | Additionally, he'd have to account for the |
| web-based e-catalogs in lieu of print | | | | cost of designing a printed advertisement |
| literature and many of his customers were | | | | too. Lastly, the costs associated with this |
| requesting .pdf versions of his motors' | | | | inflexible marketing channel are difficult to |
| specification sheets and user manuals. The | | | | justify since there it is virtually |
| writing was on the wall...or monitor if you | | | | impossible to measure return on |
| will.Once my client moved past his | | | | investment...there is no mechanism in place |
| apprehension surrounding the world of web | | | | to track leads, RFQs, and sales generated |
| marketing, he quickly realized two things. | | | | from this advertisement.Fast forward to |
| 1.) The Internet is an incredibly powerful | | | | present day and I am happy to report that my |
| sales tool, capable of delivering unmatched | | | | client's electric motor business is booming. |
| return on investment and unbeatable market | | | | His annual marketing spend has been slashed |
| penetration 2.) Industrial marketing on the | | | | by 45% and company wide sales are up 18% over |
| Internet enabled him to easily measure and | | | | last year. Furthermore, his Sales team spends |
| track the performance of their marketing | | | | less time "speculating" on their next |
| dollars, making it possible to systematically | | | | marketing expenditure and more time following |
| improve the company's ROI vs. a "gut feel" | | | | up on leads and closing sales. In my client's |
| approach.After some time and effort, my | | | | words, "growing sales becomes a lot easier |
| client's industrial Electric Motor Company | | | | when you can track the marketing responsible |
| had developed their first website and posted | | | | for your success".All of my clients share one |
| it live to the Internet. From a Customer | | | | thing in common - they're forward thinking |
| Support standpoint, it worked like a charm. | | | | businesses, facing today's stiff competition. |
| Visitors could access the company website and | | | | They recognize the winds of change and don't |
| locate distributors, download user manuals, | | | | turn a blind eye to any advantage in the |
| email tech support, and so much more. | | | | marketplace. No matter if it's driving sales, |
| However, my client's website had a very big | | | | generating leads, or simply building product |
| problem - the only people logging on were | | | | and brand awareness, progressive companies |
| existing customers. How could he drive | | | | will always be a step ahead of the |
| qualified visitors to his company's website, | | | | competition.Payton Wolfe is a co-founder of |
| creating product awareness and generating | | | | and their Director of Marketing Campaign |
| online requests for quote (RFQ)?Allow me to | | | | Strategy. Mr. Wolfe welcomes inquires and |
| introduce Pay Per Click advertising - | | | | provides no charge consultations to |
| arguably the most targeted and cost effective | | | | interested parties. |
| form of direct marketing available. Pay Per | | | | |