Thought leadership

Continuing the theme of the last two blogs prompted by research that White Papers are rated "the most influential sources of information and their content figures early on in the buying process", leads to how this can help establish market authority. A company publishing an authoritative document confirms a level of expertise and knowledge that helps gain the 'moral high ground'. There is a strong inference that a company that is fully conversant with the technology, the applications and pros and cons will have also transferred such knowledge to developing their products and should there be problems then they are more likely to have the knowledge and skills to solve them. It can be an important differentiator that introduces a value consideration rather than evaluating products on price alone.

According to Wikipedia, "A white paper (or "whitepaper") is an authoritative report or guide that is often oriented toward a particular issue or problem. White papers are used to educate readers and help people make decisions, and are often requested and used in politics, policy, business, and technical fields. In commercial use, the term has also come to refer to documents used by businesses as a marketing or sales tool." 

Similar to the White Paper but nonetheless performing a different role in influencing buyer behaviour is the Guide to a subject.   The Guide also imparts knowledge but the education and information role is different - it seeks to explain how to evaluate or choose the right product for the buyer's application. We have developed guides for several clients over the years and  these can be very useful for introducing products where the prospect may be less familiar with the technology, where by nature of the product purchases are infrequent, or where there are several options to consider to select the optimum product solution. A guide is also an authoritative document but can be a branded sales document more so than a white paper which ideally should be more neutral.

The Guide can be presented as a well designed and branded document that has high retention value to the person that requests it. It offers a great 'call to action' opportunity in advertising too. The offer of a free guide promises greater value than simply asking for a sales brochure and helps generate enquiries and potential sales leads. One technique we have successfully used is to launch the guide content initially as a series of articles in the leading publication in the market, before consolidating the content into a more formal document. The endorsement of the journal then works to confer approval and also be used in response to readers questions. Creating the definitive guide for a market in this way also makes it difficult for competitors to do the same.

Finally by controlling release whether by sending printed copies or offering a download there is a valuable opportunity to engage with interested prospects and nurture their interest. 

Synergy shifting

In the last blog, we noted that the conclusion in a recent survey on B2B purchasing preferences rated White papers as the most influential sources of information, and their content features highly in the early stages of the buying process. 

Presenting sales information to a technical market has always been a subject of hot debate and compromise, usually resulting in a plethora of glossy brochures, data sheets, specifications and catalogues all saying more or less the same thing in different ways, backed up by White Papers, sales scripts, PowerPoints and all manner of peripheral marketing materials. 

In the current atmosphere of belt tightening, it is interesting to see a nascent trend appearing which moves the compromise balance of sales information into condensed print material. One of our recent projects involved marketing a highly technical and specific range of Ethernet devices. The core influencers in the purchasing cycle were identified as technical consultants - not end users or fund holders - and their decision making process was predicated on concise information, simply put. The client’s marketing budget had been slashed - no more separate glossy catalogues, price lists, data sheets etc. More would be squeezed out of the website to provide those searchable details. But there was still a need for a publication that could be supplied to dealers for onward distribution to specifiers for retained reference purposes. 

The result was a ‘briefing booklet’. It developed as a technical white paper with an overview of current system design techniques, a few appropriate case studies, and concise technical specifications of key elements of the system from the company’s broad range. Publishing such a document helps confirm authority and thought/knowledge leadership that regular sales blurb doesn't achieve.

White Papers influential in purchase decisions

According to a recent survey amongst B2B technology buyers, White Papers are rated the most influential sources of information and their content figures early on in the buying process.

Although " brochures and data sheets were cited as the most frequently consumed collateral type, White Papers were rated the most influential in the purchasing decision process." This is a significant insight because in our experience white papers are regarded as something of an oddity by many companies, or even with suspicion by revealing inside knowledge. It is perhaps a hangover to the old way of thinking where the manufacturer controlled the monopoly on information, dribbling out only what was required to make the sale. We would argue that rather than reveal secrets, a well constructed white paper enhances the company's reputation as an authority and by setting out the relevant technical knowledge that  helps inform the prospect and enhances the likelihood of securing a sale. In fact respondents to the survey were more likely to be disappointed when a white paper contained not enough technical information rather than too much.

The second most valued and influential sources of information were Case Studies with a strong preference - more than two thirds - for these to be in a written format rather than video or audio. Not only does a well crafted case study provide valuable third party endorsement, but provides credibility for the product in use. In the buying process starting when a buyer begins researching products, developing awareness, considering options, making purchase decisions to placing orders, both white papers and case studies provide vital early information. Typically this is downloaded from the company web site or may be received by direct mail, news feeds or links.

At Technical Marketing Ltd these findings come as no surprise but as further confirmation of the importance in developing and sharing important information as part of an integrated marketing programme which is crucially influential in the buying decision process.

Market leadership credibility

Information has never been more universally accessible than now, in the Internet era. Turning to the Internet as a rich source of all knowledge has become the preferred starting point in the purchase cycle to research product/service options and to become better informed before entering into actual price negotiations. With the old business model  an enquiry would be followed by a sales call where the salesman had the upper hand due to superior and jealously guarded product knowledge. However the reluctance to share important information that can influence that final purchase decision is still kept back, at least on many company web sites. Yet that information, that unique knowledge or insight,  is probably what differentiates one company from its rivals. It is what establishes the company's credibility. The authority it commands within its specialist sector. A typical web site will show the company products and offer detailed technical specifications that can be downloaded, but then so do all the competitors. There is nothing to differentiate one product from another other than price!

What too few companies make use of is the White Paper. A document which can provide the essential background information that sets the product in context to the situation where it will be used. Not only can a White Paper be a valuable briefing document for the prospect, but it also establishes the company as an expert in that market, lends credibility to them as preferred suppliers and potentially, as a valuable business partner. Prospective customers will see beyond the headline price to a company that can also provide useful guidance and advice based on knowledge and practical experience. White Papers can provide checklists of what to ask for in a product, which specification points are essential, which are not and lead the prospect towards a product requirement that they are best placed to meet.  This may mean disclosing information that traditionally been withheld, but may also be the critical differentiator that wins a new  customer.

A word on White Papers

White Papers, if understood at all in the UK, probably suggest a government consultation document. But in industrial circles, more so I suspect, in America they are recognised as a means of providing a briefing such as introducing a new technology or manufacturing concept. Marketing Sherpa recently reported that "In 2008, 44% of business prospects said they are reading white papers more often than in the past. That’s an increase from the 39% who said in 2007 they were reading white papers more often. More than half of business decision-makers and influencers said they read two to five white papers per quarter." The article continues, "prospects typically download a white paper in the research phase of a buying decision. They’re looking for content that’s highly relevant to their industry or job description, and that addresses one of their biggest business problems or needs. By downloading your white paper, they’re starting a conversation that should help you gauge over time their product needs, interest level and stage in the buying cycle." So why do so few businesses include White Papers within their PR programme? White Papers are a concept we usually need to work hard with clients to accept, as they seem not to be highly valued or understood. And yet a White Paper can be a very influential tool at the research phase of the purchasing process. It not only provides the rationale but stakes your company out as experts, allowing you to capture the moral high ground. Convince a prospect that you understand the business and readers are more likely to value your business as a supplier. Interestingly LinkedIn is now offering the LinkedIn White Paper Campaign targeting professionals who could be interested in specific white papers and proposing these benefits:-

• "Target niche audiences
• Reach professional decision-makers looking for answers
• Engage your audience with relevant content
• Secure up-to-date, actionable lead information
• Contact qualified well-suited customers".

Downloading the White Paper identifies the person as a prospect, so offer a form to capture the contact information then ensure the lead is qualified and followed up with the offer of more specific product information.