Katrina Olson

Strategic Communications

Market Boldly 014 – Digital Transformation with Michael Evanko of Fromm Electric Supply, Part 2

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Market Boldly
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Market Boldly 014 - Digital Transformation with Michael Evanko of Fromm Electric Supply, Part 2
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Join me with guest Michael Evanko, VP of Reading, Pennsylvania-based Fromm Electric Supply in this second installment of this discussion about the digital transformation in electrical distribution. If you’re still figuring out how to get started, tune in to learn:

  • What to think about when adopting a new technology like CRM
  • Why marketing must take a strategic leadership role in the digital transformation
  • What to consider when deciding between outsourcing or adding marketing staff
  • How (or if) one person can manage a distributor’s entire marketing function
  • Why you can never stop learning

Michael discusses his experience and offers suggestions for those just beginning their digital journey. It’s not as difficult as you think if you have the right approach and the right people on your team.

Market Boldly 013 – Digital Transformation with Michael Evanko of Fromm Electric, Part 1

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Market Boldly
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Market Boldly 013 - Digital Transformation with Michael Evanko of Fromm Electric, Part 1
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Join me with guest Michael Evanko, Vice President of Marketing for Fromm Electric Supply of Reading, Pennsylvania as we talk about Fromm’s digital transformation and how they’re navigating the challenges of technology. You’ll learn:

  • Why you need a technology roadmap (Hint: it will save you time and money!)
  • How to determine what you need in your marketing technology (martech) stack
  • Why implementing a CRM is not just about buying software
  • How technology makes customer information more easily accessible and readily available
  • Why it’s important to set goals before purchasing technology or software
  • How technology enables omnichannel marketing versus multichannel marketing

If you you’ve been struggling with how to get your company to embrace the digital age, this episode is for you. Watch for Part 2 for even more information to help your company begin its digital transformation.

Includes shout-outs to Rockwell Automation, WebPresented, Salesforce and Infor.

Market Boldly 011 – What about your business is uncopyable?

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Market Boldly
Market Boldly
Market Boldly 011 - What about your business is uncopyable?
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Join me with Steve Miller, marketing consultant and author of the 2017 Amazon #1 Best Seller Uncopyable: How To Create An Unfair Advantage Over Your Competition. Steve has consulted with clients ranging from entrepreneurs to Fortune 100 companies including Proctor and Gamble, Caterpillar, Starbucks and Coca- Cola in addition to several large, North American exhibitions. He has been featured in Fast Company, Business Week, Fortune, the Wall Street Journal, and The Washington Post.

In this episode of Market Boldly, Steve and I discuss:

• the 3 traps most companies fall into when trying to find their competitive advantage
• why “partnership” doesn’t work anymore
• what distributors can learn from the Broadway show, Hamilton
• what revered total quality management consultant Steve hung out with when he was a kid
• what then-high-tech device Steve’s dad invented
• the difference between intrinsic and extrinsic benchmarking
• what fourth element a business needs to succeed in addition to quality products, excellent customer service and a decent price
• what it truly means to be uncopyable and 3 strategies for creating an uncopyable attachment to customers

And if you stay tuned until the end, Steve offers you an ethical bribe to buy his book, Uncopyable. It’s a bonus worth $197 — in addition to all the great stuff you’ll learn from this podcast and in his best-selling book.

Market Boldly 010 – What’s it really like to work in marketing for an electrical distributor?

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Market Boldly
Market Boldly 010 - What's it really like to work in marketing for an electrical distributor?
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In Part 2 of this discussion with April Braun, Director of Marketing for Werner Electric of Cottage Grove, Minnesota and Scott Lepsky Marketing Manager for the F.D. Lawrence Electric Company of Cincinnati, Ohio, we talk about more hands-on issues like:

  • how marketing builds value and supports the sales effort
  • the importance of goal setting and strategy
  • what projects April and Scott are working on
  • how to use technology in your marketing
  • why it’s important to spend “quality time” with your customers
  • why you should consider hiring marketing staff from outside the industry
  • what the role is of organizations like NAED, IMARK and AD
  • what the future holds for distributor marketing
  • why more people should consider a career in electrical distribution
  • how the industry has (and hasn’t) changed in the past 20 years
  • why Scott thinks, “the rising tide lifts all boats”
  • why April is “sharpening her spear” and “putting her stake in the ground”
  • what advice these experts people considering a career in electrical distribution

It’s a lively discussion with two marketing experts — one with a long history in electrical distribution who’s new to marketing, and another with a long marketing history who’s new to electrical distribution — each with a wealth of information and keen insights on distributor marketing. It’s 24.5 minutes of wisdom and humor you won’t want to miss.

Market Boldly 009 – Why electrical distributor marketing matters…especially now. (Is your team ready?)

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Market Boldly
Market Boldly
Market Boldly 009 - Why electrical distributor marketing matters...especially now. (Is your team ready?)
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How will marketers combat Amazon and other new competitors?

What’s it like to work in marketing for electrical distribution?

How has it changed in the last 20 years?

Join me with guests April Braun, Director of Marketing for Werner Electric (MN) and Scott Lepsky, Marketing Manager for the F.D. Lawrence Company (OH) for Part 1 of a two-part podcast: “Why electrical distributor marketing matters…especially now. Is your team ready?” We discuss:

  • The challenges and opportunities of the marketing job
  • Why relationships matter, now more than ever
  • What’s changed over the years…and what hasn’t
  • What industry marketers are good at, and what needs work
  • Why data is critical now and in the future
  • Why distributors have an advantage over Amazon

In the coming months, marketing will be more important than ever as electrical distributors face increasing competition. They need highly skilled marketing teams guided by a strategic plan that’s based on company goals. Learn how two experienced marketers are building their teams and plans for 2018 and beyond.

Subscribe to Market Boldly on iTunes or Google Play.

 

Market Boldly 008 – “Solar is hot in the Midwest & Beyond” with Tim Montague

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Market Boldly 008 - "Solar is hot in the Midwest & Beyond" with Tim Montague
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Solar energy is experiencing a burst of growth in Illinois and throughout the Midwest thanks in part to current state and federal incentives for homeowners, businesses, schools, colleges, local governments, nonprofits, and others who invest in solar photovoltaic (PV) energy systems.

Meet Solar Expert, Tim Montague

Tim Montague, commercial solar developer with Continental Electrical Construction Company of Oakbrook, Illinois, a western suburb of Chicago discusses the benefits and incentives associated with solar energy. Continental started its renewable energy division in 2009 and is one of the largest installers of solar PV (rooftop and ground mount) systems in Illinois. Recent projects include retailers like IKEA and Abt Electronics, a 10-acre solar array at IKEA’s Joliet distribution center, plus several schools and colleges.

Why Solar Makes Sense Now

  • In recent years, the cost of solar technology has dropped significantly. It’s now less than 60 cents per watt; compared to $100 per watt in 1975.
  • Payback periods are the shortest they’ve ever been—only 4 to 6 years, compared to 10 to 15 years just a few years ago.
  • Federal and state legislation are making it possible to get into a solar array for as little as 10 to 15 cents on the dollar.
  • Combining state and federal incentives can fund as much as 80% of a solar PV system.
  • Companies can reduce their power bills by anywhere from 50% to 75%!

Here’s a Breakdown

Following is a breakdown of incentives and rebates for years one through five of a solar project.

Federal ITC (Incentive Tax Credit)                  30%

SRECs (Renewable Energy Credits)                 20%

Smart Inverter Incentive ($250/kW DC)        10%

MACRS Depreciation                                          30%

Electric Bill Savings                                             20%

As a result of all these incentives, the up-front cost to purchase and install a solar PV system can be reduced by as much as 90%!

Incentives Aren’t Forever

Manufacturers, distributors and contractors who want to get into or build their solar businesses need to act while the incentives are still good. Some payouts decrease each year and expire in as few as five years. Listen to the full podcast to learn how to take advantage of these opportunities while solar is hot.

Summary of Available Incentives

  • Illinois Future Energy Jobs Act (FEJA) passed in 2016 and enacted in 2017 funds $200 million of cash incentives in Illinois project owners who get 20% of project value back as a cash incentive. FEJA also provides for rebates for smart inverters for distributed generation projects. (http://www.futureenergyjobsact.com/about)
  • Modified Accelerated Cost Recovery System (MACRS) – Provides for accelerated depreciation for business owners, worth about 30% of project cost. (https://energy.gov/savings/modified-accelerated-cost-recovery-system-macrs)
  • Solar Renewable Energy Credits (SRECs) – This is the Illinois state incentive that gives solar system owners a cash rebate worth 20 to 25% of a solar PV system. (https://energy.gov/savings/solar-renewable-energy-credits-0)
  • Business Energy Investment Tax Credit (ITC) – This Federal tax credit of 30% for businesses and residents is available through 2020 for qualified solar projects, but phases out starting in 2020 down to 10% for businesses and zero for residents. (https://seia.org/initiatives/solar-investment-tax-credit-itc & https://energy.gov/savings/business-energy-investment-tax-credit-itc)

Use the Database of State Incentives for Renewables & Efficiency (DSIRE®) to research the financial incentives available to you.

For More Information

Check out these resources in Illinois, the Midwest and beyond to learn more about opportunities in solar energy.

  • DSIRE® – Database of State Incentives for Renewables & Efficiency – free resource maintained by North Carolina University with information on thousands of policies and incentives for renewable energy and energy efficiency (http://www.dsireusa.org)
  • SEIA – Solar Energy Industries Association – national trade association for the U.S. solar industry (https://www.seia.org)
  • NABCEP – North American Board of Certified Energy Practitioners® – national certification organization for renewable energy professionals (http://www.nabcep.org/)
  • ELPC – Environmental Law & Policy Center – regional environmental organization focused on Midwest policy for clean air, water and transportation (http://elpc.org)
  • IBEW – International Brotherhood of Electrical Workers – union representing employees in the electrical and utilities industries (ibew.org)
  • ISEA – Illinois Solar Energy Association – non-profit organization that promotes solar and other forms of renewable energy through education and advocacy (illinoissolar.org)
  • MREA – Midwest Renewable Energy Association – offers one of the country’s top solar training programs and runs one of the largest grassroots sustainability events in the nation (www.midwestrenew.org)
  • WOW – Wind on the Wires – works to create new opportunities for renewables to participate in the energy marketplace in Illinois, Indiana, Iowa, Michigan, Minnesota, Missouri, North and South Dakota, and Wisconsin (https://windonthewires.org)

UPDATE: 30% Tariffs on Imported Solar Panels

The week after we recorded this podcast, the Trump administration imposed a tariff of 30% on imported solar panels. This will impact the $28 billion solar industry, which gets about 80% percent of its solar panel products from imports. The Solar Energy Industries Association (SEIA) predicted the tariffs would increase prices and cost approximately 23,000 US jobs. SEIA represents manufacturers as well as installers, sellers and others in the field.

When asked about the new tariff, Montague responded, “It’s bad news, but not fatal. It might kill 23,000 jobs out of 260,000 so just less than 10% of the industry. We’re fine in Illinois because we have SRECS, but it certainly throws a wet towel on the industry.”

Market Boldly 007 – Ted Simpson, VP Marketing, Electrical Division, AD on trends, technology and teams

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Market Boldly
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Market Boldly 007 – Ted Simpson, VP Marketing, Electrical Division, AD on trends, technology and teams
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Join me with my guest, Ted Simpson, Vice President of Marketing for the Electrical Division of AD or Affiliated Distributors as we discuss trends, technology and teams in marketing for electrical distributors and manufacturers. With 580 members across seven different industries, AD is North America’s largest marketing/buying group for construction and industrial supplies.

I met Ted at AD’s 2017 Electrical North American Meeting in Dallas after AD Marketing Manager Peggy Penjuke asked me to kick off their marketing network session. Ted has been with AD for about two-and-a-half years. Prior to that, he Head of Marketing for the North American Division of Phillips lighting, where he worked for nearly 16 years.

Listen in as we discuss:

  • The mission and benefits of AD on behalf of its members
  • How AD is embracing technology to generate leads and drive business to their members
  • Who should be included in your marketing dream team
  • The importance of marketing groups to distributors
  • How to get up to speed on new platforms and technologies

As marketers, we’re always learning how to use data and technology to benefit our customers and grow our businesses. If you’d like to see a specific topic discussed on Market Boldly, email me at katrina@katrinaolson.com and I’ll put it on the editorial calendar!

 

How to Develop a Simple Content Marketing Strategy

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By Katrina Olson

This article originally appeared on tedmag.com on April 22, 2016.

At last year’s NAED AdVenture marketing conference, a whopping 60 percent of attendees were female, and approximately 43 percent were under age 36.

Contrast that with the demographics of electrical contractors.

The average age of the electrical contractor is 56.2, according to Electrical Contractor magazine’s 2014 Profile of the Electrical Contractor. And you probably won’t be surprised to learn that women hold only one percent of all electrician jobs, according to 2009 Census data.

“How do I market to people who are very different from me?”

A good marketer gets to know their customers, inside and out—who they are, what keeps them up at night, and how they make decisions. By understanding customers’ concerns, buying habits, attitudes, preferences and behaviors, you’ll get a feel for what kinds of media and messages they’ll respond to. Along the way, you’ll also learn about trends in their businesses and industry.

“How do I learn more about my customers?”

Following are seven ways you can find out what makes your customers tick. Some are pretty easy; others are more involved. But all should yield valuable insights..

1. Read your customers’ trade publications.

Most industries have trade association and publications. Health Facilities Management, Facilities Manger, Facility Management Decisions, Electrical Contractor, and Buildings and Electrical Contractor are just a few.

2. Join online groups.

Is there a LinkedIn group or social media platform where your customers and prospects hang out? Observe without participating or commenting to learn what’s important to them.

3. Ask your salespeople.

If you can’t talk directly to customers, talk to those who do. Counter staff, inside sales, outside sales, and customer service representatives can give you insight into what your customers care about.

4. Attend company events.

Get out from behind your desk or computer and attend counter days, workshops, training sessions, and other opportunities to get to know your customers. Try to uncover your customers’ hot buttons and pain points.

5. Contact customers directly.

Call or email some of your key customers and ask specific questions—like how they want to learn about new products and services. Or take them out to lunch. Explain that you want to better understand their business so you can better serve them.

6. Conduct a short survey.

Curious about what media your customers are consuming? Want to know what social media platforms they’re using? Wondering how much they use their smartphones? Ask them!

7. Host a focus group or customer advisory council.

To get honest feedback about what your customers think, conduct a focus group or establish a customer advisory council that meets every year. Rotate members out every few years to get fresh perspectives. (To make sure you get candid comments, hire an outside facilitator and leave the room.)

How can I apply this knowledge to be a better marketer?

Here’s an example. The electrical contractor’s role is evolving as they become more heavily involved in design and specification. Also, building systems are becoming more integrated and interdependent, using data hubs that communicate with each other. All systems are tied together; so all the products must be compatible with each other.

As a result, electrical contractors may look to you for comprehensive solutions, not just individual products. Electrical contractors will also rely more heavily on the electrical distributor’s expertise to help them choose the right products for both new and existing systems.

This knowledge should change the way you position and brand your company, and the way your salespeople are trained, too. Instead of just selling and marketing products, you’re marketing your staff’s expertise and product knowledge.

The trick is putting yourself in your customer’s and prospect’s shoes. That means not just understanding their wants and needs—but speaking their language. That takes a little more practice. But the more research you do, the easier it gets.

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Olson is a marketing and public relations consultant, and principal of Katrina Olson Strategic Communications. She has written for tED magazine’s print edition since 2005, judged tED magazine’s Best of the Best Competition since 2006, and emceed the Best of the Best Awards ceremony for a total of seven years. She can be reached at Katrina@katrinaolson.com or via her website at katrinaolson.com

We’ve been hearing for years that “content is king.” But in case you still need persuading, following are some statistics from the Content Marketing Institute’s “2016 Benchmarks, Budgets and Trends—North American” annual content marketing survey released in September 2015:

  • 88% of business-to-business marketers use content marketing (but only 32% have a documented content marketing strategy).
  • 76% of B2B marketers say they will generate more content in 2016.
  • 94% of B2B marketers use LinkedIn as part of their content strategy. Other popular platforms include Twitter (87%), Facebook (84%), YouTube (74%) and Google+ (62%).
  • The top two most outsourced content marketing activities are writing (44%) and design (41%). (LinkedIn Technology Marketing Community)

“So what, exactly is content marketing?”

A content marketing is “a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience—and ultimately, do drive profitable customer action.”

Anyone can do content marketing! In fact, 51% of the Content Marketing Institute’s study respondents had fewer than 100 employees. Content marketing includes:

  • social media content
  • case studies
  • blogs
  • eNewsletters
  • in-person events
  • articles on your website
  • videos
  • illustrations/photos
  • white papers
  • infographics
  • webinars/webcasts
  • online presentations
  • research reports
  • microsites/separate websites or hubs
  • branded content tools
  • ebooks
  • print magazines
  • books
  • digital magazines
  • mobile apps
  • virtual conferences
  • podcasts
  • print newsletters

“What platforms should I use?”

In answer to the question, “How effective are the social media platforms your organization uses?” the study revealed the following:

  1. LinkedIn was most effective at 66% (up 2% from the previous year)
  2. Twitter came it second at 55% (same as previous year)
  3. YouTube was rated third at 51% in terms of effectiveness
  4. SlideShare (41%)
  5. Facebook (30%; down slightly from the previous year)
  6. Instagram (22%)
  7. Pinterest (20%)
  8. Google+ (13%)

When asked, “Which content offers does your organization ask its audience to subscribe to?” respondents reported primarily eNewsletters (72%) and blogs (56%). So don’t rule out the power of permission-based or opt-in content.

“How much should I spend on content marketing?”

The average proportion of the total marketing budget spent on content marketing was 28%. There was a positive correlation between budget allocated and effectiveness with the most effective marketers allocating 42% on content marketing, up from 37% the previous year. Just over half of B2B marketers surveyed planned to increase their content marketing spending over the next year.

“Why should I bother? It sounds like a lot of work.”

When you deliver high quality, relevant and engaging content to the right audience, you’ll increase leads generated, sales, brand awareness, engagement and customer retention and loyalty. In turn, those loyal customers will also advocate for you and refer you business. The key is a documented strategy that you consistently execute and measure to make sure you’re achieving your content strategy goals.

“How do I get started with content marketing?”

The easiest way is to start simply.Step 1: Choose a platform where you know your audience is actively participating. I chose LinkedIn, Twitter and Facebook—the three places you can find these articles every week.

Step 2: Set a calendar but be flexible. I publish weekly because I enjoy writing them and I have (or make) the time.

Step 3: Search for topic ideas. Attend webinars. Read publications, blogs, white papers, and trade magazines to see what’s trending in your industry. Ask vendors, suppliers, distributors, customers, salespeople, and counter people what questions they frequently get asked or what people are talking about. If that’s not convenient, join LinkedIn groups or survey other social media platforms to see what people in your audience are talking about.

Step 4: Commit. Just do it! Set aside time in your schedule to get it done. You’ll be energized and excited to keep it up when that first lead or project comes in because of your efforts.

“I don’t have time and writing is not really my thing.”

No problem. Fortunately for you, content strategy and writing is my thing. I love learning about new industries and coming up with new content ideas. Just a couple of weeks ago I was writing about legislation affecting the transportation and logistics industry. I’d love to work with you.

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Katrina Olson is a marketing and public relations consultant, freelance writer, training/coach, former college professor, and principal of Katrina Olson Strategic Communications. She can be reached at 217-721-1679,  katrina@katrinaolson.com or via her website at katrinaolson.com.