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Number 5 » October 27, 2008
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Fresh Ideas for a Turbulent Market |
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This month's Edge is focused on innovation and fresh approaches. At a time
when our economy is in turmoil, technology vendors are developing new
messages focused on how they can help their customers weather the storm, and
on new, innovative approaches to solving business problems. This edition is
chock-full of fresh ideas
across a wide variety of technology markets; we
hope some of these ideas inspire new approaches for you to consider!
In our interview, John Ecke offers insights
into vertical market strategies from the industry at the heart of the
turmoil, financial services. Ironically, the turmoil is actually increasing
Wall Street firms' technology usage because of the accelerated transaction
volume. John offers some tips and best practices for developing long-term
relationships through effective vertical market strategies.
Savvy marketers know that advertising during a downturn yields high dividends.
As you navigate the current market shifts, remember that IT is so essential
to business processes, that it will be difficult for most companies to cut
IT expenses dramatically. This is an opportunity for you to build long-term
relationships with your customers. We'd love to hear some of your strategies
for weathering this storm!
Anne Marie Miller
Anne Marie Miller
Corporate Senior Vice President, Sales
amiller@ubm-us.com
P.S. Look for some of our interviews in future editions of the Edge to
feature technology vendors and marketing experts – let us know if you'd be
interested in being featured in the Edge!
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Research: Engage IT Buyers with Virtual Events |
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New InformationWeek Business Technology Network research shows that IT buyers
are using virtual events to gather information in order to make smart buying choices:
- IT buyers are attending about 1 virtual event per quarter
- 82% consider virtual events a valuable source to learn about new technologies
- 64% believe virtual events are valuable to obtain information for a technology purchase
- 93% find the events they attend to be valuable for their professional role
- 52% attended a virtual event while it was live
- 43% attended a virtual event 'on demand'
- The first InformationWeek 500 virtual event (sponsored by CA, SAS and others) on Thursday, September 25th drew over 635 attendees, who spent an average of 2 hours at the show.
- While there, they visited an average of 12 booths for about 7 minutes per booth!
Ask for the complete research on virtual events for more insight on how to
use this platform to engage business technology buyers.
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Interview: Best Practices in Vertical Industry Marketing |
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John Ecke is the VP/Group Publisher of Techweb's Financial Technology
Network - the leading business technology media outlet for senior
business and IT executives in the financial services industries.
Financial Technology Network brands include
Bank Systems & Technology,
Insurance & Technology,
Wall Street & Technology,
and Advanced Trading.
Q. How is the crisis on Wall Street affecting technology spending and planning for 2009?
Financial services firms spend more on IT than virtually any other vertical segment. The reason is simple: the entire market is based on information. The ongoing market turmoil will lead financial services firms to re-examine all spending and projects. Projects will be prioritized. Buying decisions will face increased scrutiny. The buying process will take longer. IT spending overall will see single digit percentage declines. There will be vendor consolidation and re-negotiation where possible. A competitive marketplace will become hyper-competitive.
However, even a cut in IT budgets would still leave over $350 billion of IT spending on the table in the global financial services markets. It's a massive market in which major technology firms have a very large stake, and they will continue to support this customer base with focused marketing efforts.
Q. This is a good time to invest in getting closer to a customer's business. What are some best practices in successfully targeting vertical industries such as financial services?
Well, it starts with knowing their business. Financial services, for instance, actually encompasses an array of different businesses that revolve around banking, securities, and insurance – each of these segments can have very different stakeholders and buying behaviors, so you have to tailor your approach accordingly. And, while you don't need to go overboard, you do need enough knowledge to show how your solutions can help solve business problems for companies in that market. Executives in financial services believe their market is unique and more complex than most. They need to feel like their strategic IT partners have a firm grasp on their industry. Building trust is huge for this segment.
Q. So is tailoring your message to the industry's business problems the key to success?
I'd say it's the first step. A serious vertical effort requires commitment beyond the marketing strategy and budget. The sales team will need to be aligned, as will product management and support. Companies that have done the best job selling into this particular vertical segment all have dedicated sales and marketing teams that have some degree of industry experience. How else can you compete with the industry pure-plays that have catered offerings?
You also need to show that you are a part of the industry. Your firm should participate in the important industry events. It demonstrates a higher level of commitment to the market and helps build trust among potential customers.
Q. What are some examples of companies that are doing this right?
We work with most of the major technology firms – IBM, Oracle, Cisco, Intel, EMC, Sybase, TCS, Microsoft, Adobe, and others to develop financial services industry go-to-market strategies and programs. These companies focus on traditional branding strategies, coupled with deeper thought-leadership and educational activities, branded engagement, and very often a lead-generation component. As in other industries, the most effective programs are multi-platform integrated programs with various degrees of custom elements.
Some recent examples include:
- IBM's sponsorship of EcoTech, a portal our team built that is specifically dedicated to Green Computing best practices within the financial services community.
- IBM's use of video to specifically tailor messages from top IBM executives to specific areas within the community. This has been a very effective way to break through the clutter of information--our team developed over 20 financial services video assets for IBM in 2008.
- Intel's ongoing effort to speak directly with the trading community. Processing speed means everything, and 1 millisecond in latency equates to nearly $100 million in revenue for a large broker/dealer such as Goldman Sachs or Morgan Stanley.
The bottom line is that we have the audiences, the trusted editorial environments, and the market expertise to help vendors craft effective marketing programs tailored to their budgets and objectives.
Get in touch with your UBM global accounts sales person to learn more about how we can help you enhance your financial services go to market plan today!
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Case Studies |
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- Check out Cisco's Marketing Center of the Future
Check out our newest fully-featured concierge site, a TechWeb briefing center developed for Cisco titled the "Data Center of the Future." The engaging concierge takes visitors on a highly educational – and entertaining – tour of solutions and tools for the data center. The site includes links to video, ROI and discussion tools and press information, all packaged in an innovative interface designed to engage and captivate customers. If you haven't yet visited a concierge site, take a moment to visit Data Center of the Future and explore.
- CA's Custom Publication Wins More Awards
Smart Enterprise, published jointly by United Business Media and CA, won a min's Integrated Marketing Award in the Custom Publishing Project category. The mission of the custom publication is to strengthen relationships and build community with existing CA customers and prospects at large enterprises. Smart Enterprise provides business and IT executives with industry insight and practical guidance needed to drive business results. Smart Enterprise also received an APEX (Awards for Publication Excellence) award in July.
- Virtual Event on Green IT Solutions a Big Draw
Everything Channel's Virtual Tradeshow on green IT solutions brought together nearly 2,000 solutions providers and technology vendors. Visitors to "Green Day: Capitalizing on Going Green" heard from top executives from Intel, Hewlett Packard and VMWare who demonstrated products, viewed live presentations and met potential business partners, without ever having to leave the office. During the seven hour-long tradeshow on September 18, attendees were able to meet with other event goers in real-time inside virtual booths in the Exhibit Hall. Everything Channel offered a variety of resources - white papers, marketing collateral, spec sheets and Webcasts – in its Channel Resource Center. In addition, attendees networked with peers and others in the Networking Lounge and extended relationships beyond the virtual tradeshow environment.
Contact us to learn more about these case studies or other innovative technology marketing programs.
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Get Fresh — Marketing Ideas with an Edge. |
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Fresh Idea #1: Reach the Indian Design Community
Reach India's burgeoning electronics community with TechOnline India, an education and technical information portal that features in-country editorial coverage and content, and offers marketers the opportunity to engage with Indian engineers at a critical stage in the design cycle, when product and technology decisions are being made.
Fresh Idea #2: Make Your News Releases Cutting Edge
MultiVu has teamed up with Spot Runner to provide you an easy way to create a custom, original video segment for your Multimedia News Releases. Take advantage of Spot Runner's network of over 2,000 global video professionals and engage your target viewers with your story in a custom video built especially for your Multimedia News Release. Create buzz about your news or campaign in a creative and economical way. Your 30 to 90 second, finished video is integrated into your Multimedia News Release, ready for PR Newswire distribution, and your video is placed across all major video sites on the web. Make your news releases cutting edge– add full video coverage to your MultiVuTM Multimedia News Release.
Fresh Idea #3: Get Your Game on in Vancouver
Target a key region known for interactive entertainment with GDC Canada at the 2009 Vancouver Digital Week. The Game Developers Conference is partnering with Reboot Communications to present Game Developers Conference (GDC) Canada in response to Canada's increasingly important role in the international game development landscape. Don't miss this world-class conference focused on fostering critical information exchange, creating connections and stimulating creativity.
Fresh Idea #4: Reduce. Reuse. Return on Investment
Reach financial services technology buyers focused on saving money with green computing with EcoTech, dedicated to practical applications of green technology and ecologically sound business practices in financial services, with a special focus on reducing power and paper usage, new "green" financial products and services, and general environmental awareness and advocacy programs at commercial/retail banks and insurance companies.
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Fresh Thinking Across Industries |
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Digital Media: Creating New Consumer Experiences
The annual TelcoTV conference, to be held November 11-13 at the Anaheim Convention Center in Orange County, California, will bring together more than 150 vendors--a broad array of content providers and telephone companies looking to forge new partnerships that will bring digital content to market in new formats and platforms. Join a rapidly evolving ecosystem that includes The Weather Channel, WealthTV, Home Shopping Network, Alcatel-Lucent, Cisco Systems, Motorola, Nokia Siemens, Nortel, and others.
Gaming: See 35 Years into the Future
Futurist Bruce Sterling's keynote talk at the 2008 Austin Game Developers conference focused on where computer entertainment will be 35 years from today. The event also hosted the first-ever Worlds in Motion Summit, focused on the intersection of games and interactive worlds. You can download audio recordings of Sterling's talk and all conference proceedings at GDC Radio.
Electronics: See How It Works
ESC Boston attendees will get to look inside an iMac, two never-released Apple products and an Estes Micro-Tiger helicopter at three unique teardown sessions next week. Event sponsors include signature sponsor Windows Embedded and platinum sponsor AMD Embedded Solutions.
Innovation: Create a Sustainable Innovation Process
If you're in London this November, stop in at the Financial Times Innovate conference and hear TechInsights CEO Paul Miller present "Creating a Sustainable Innovation Process" on November 11 at the Cumberland.
Mobile: 'Best iPhone Game' Added to Indie Mobile Competition
iPhone game publisher ngmoco and GDC have teamed up to offer $10,000 'Best iPhone Game' prize at the Independent Games Festival during Game Developers Conference 2009, increasing the maximum amount of prizes in the hotly contested indie mobile competition to a record $30,000. The finalists in the 'Best iPhone Game' category will be invited to showcase their games on the expo floor at the industry-leading Game Developers Conference 2009, to be held in San Francisco from March 23rd-27th, 2009. In addition, the winners of the category will be revealed onstage at the special IGF Mobile awards ceremony at GDC 2009, and also highlighted at the flagship Independent Games Festival Awards event at the show. In addition to the IGF Mobile sponsorship, ngmoco has also partnered as the exclusive sponsor of Think Services' new iPhone and iPod Touch-specific weblog, FingerGaming, which covers business announcements, gaming news, trends, and impressions regarding games for Apple's touch screen handheld.
Software Development: Enter the Jolt Product Excellence Awards
Dr. Dobb's is accepting nominations for the prestigious Jolt awards, which will honor the top software development products of 2008. The winners will be announced on March 11, 2009 at a gala ceremony during the 22nd annual Software Development Conference & Expo West held at the Santa Clara Convention Center. Judges will be looking for the most innovative and useful products in each of 9 categories. For details and to nominate products from your company or a business partner, go to http://www.joltawards.com/.
Technology Marketing: Vendors That Help Mid-size Enterprises Win
Midsize Enterprise Summit attendees judged vendors based on the quality of their midsize marketplace solutions and presented the Midsize Enterprise Summit awards to HP (Hardware), QlikView (Software), Brazil IT (Services), TriGeo Network Security (Execution), LogLogic (Presentation) and TriGeo Network Security (Best of Show).
Web: Think Outside the Box for Success
Visionaries, entrepreneurs, VCs, creatives, and technologists gathered to define the future of the web at the second annual Web 2.0 Expo Europe on October 21 to 23 in Berlin include Timo Arnall, Oslo School of Architecture & Design; Drew Bartkiewicz, Vice President of Cyber and Technology Risk, The Hartford (UK); Markus Beckedahl, Creative Commons Germany / newthinking communications GmbH; Giel de Nijs, Philips Research (Netherlands); Alexandra Deschamps, Sonsino Tinker (UK/Italy/Canada); Bruno Figueiredo, Ideias & Imagens, Lda. (Portugal); and Luis Suarez, IBM (Spain).
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Meet IT Buyers and Solution Providers at the Top Tech Events |
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| Nov 16-18 |
Buy-Side Trading Summit
An invitation-only event for the most senior-level buy-side executive, "Voices from the Desk" focuses on the most critical technology and trading issues that the buy-side faces in today's dynamic trading environment. Sponsors include Credit Suisse and UBS.
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Bonita Springs, FL |
| Nov 16-19 |
Healthcare Summit
CXOs and external influencers now expect IT to be a key differentiator to effectively enable healthcare and business strategies. This conference explores the challenges and actions that IT must take to step up to these important new requirements.
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San Diego, CA |
| Nov 17-19 |
Mashup Camp Silicon Valley
"The Unconference for the Uncomputer" is an event dedicated to bringing together the mashup community for a face-to-face collaborative meet-up where new relationships are formed, old relationships are nurtured, ideas are shared and innovation happens in real time.
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Mountain View, CA |
| Nov 17-19 |
XChange Tech Innovators
XChange Tech Innovators brings together more than 110 of the channel's most unique, forward thinking integrators with the objective of helping them identify and consider alternative technologies and companies to do business with.
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San Jose, CA |
| Dec 3-5 |
Printing & Imaging Summit
A strategic perspective on print and imaging for office and production print executives.
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Bonita Springs, FL |
| Dec 3-5 |
Project & Portfolio Management Summit Europe
Where leading and emerging PPM Vendors meet with CIOs, CFOs, COOs and other IT Decision-Makers who oversee European companies, organizations and departments that are project-based and knowledge-resource intensive. Sponsors include CA and Microsoft.
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Vienna, Austria |
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