Marketing Collateral

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Whenever we hear the term Collateral, the first thing that comes to our mind is "Security for a loan", but today we are not discussing bout the collateral and loan process, instead we are going to look into a concept that is related to marketing and strategy.

Some might feel "Marketing Collateral" is a new topic must bee recently added, but the fact is, it is not a new topic. Marketing collateral represents an ongoing trend that has been around for decades. And it will continue to be in the mainstream as long as people will engage in marketing. 

What is Marketing Collateral?

Marketing Collateral is a collection of media (material designed to support brand) used to inform, educate, and guide prospects and customers about the organisation, product or service, and how their problems can be solved. In simple terms, it is used to support sales of a product or service. It can be either print or digital material that encourages customers to contact the business or visit the location. 

Anything that you use to communicate your organisation’s brand message can be considered marketing collateral. It is usually used after the client has made contact with the brand, product, or the organisation via advertising or digital marketing campaigns.

It can run parallel with main campaign or after it has ended, and it often contains calls to action or detailed explanation/information on the product being advertised. The main goal of Marketing Collateral is to provide clients/customers with compelling reasons for making an informed purchase decision and assume them they have made the right choice.

Why is Marketing Collateral Important?

Marketing Collateral lies at the heart of the organisation's content marketing efforts. It doesn't promote self-promotion or trickery to generate sales, instead, it focuses on providing authentic content to solve buyer needs and challenges. No matter what your organisation is (B2B or B2C) marketing collateral represents business and brand. Every organisation, big or small, can get their word out quickly.

Marketing collateral

        - helps you communication communicate your value proposition.

        - connect your audience with your brand. 

        - encourages work of mouth.

        - promotes thought leadership.

After reading you might feel, "everything looks good, now it is time we need to focus Marketing Collateral".

Well, before you take the next step you need to keep in mind that marketing collateral varies in its types i.e., Form, Structure, Usage, Distribution, Method, and Target Audience. That's because, each marketing collateral type has its own purpose, utility, merit, and demerit. it cannot be generic and need to put the buying stage of the prospect buyer/client.

For example, if we look at a buyer's decision making process (behaviour), a buyer explores, examines, evaluates, compares, decides, and finally purchases a product or service. If the buyer is satisfied, the buyer might come back for repeat purchase and may even suggest it to others. 

However, if the buyer is not satisfied, chances are the buyer will exhibit his dissatisfaction to others.

Buyer's journey

Stage 1 - Awareness Stage:

Objective - How to let your buyer know you exist?

In awareness stage the customer is facing a challenge and is looking for solution. He is not aware of existing solution in the market place and is keen on exploring more about his problem. Marketing collateral in this stage should educate customer about their problems and not dump the product or services on them. Ideal types of marketing collateral at the awareness stage are Articles, Blogs, Assessments, Infographics, White papers, Videos, Press Releases.

Stage 2 - Interest Stage:

Objective - How to create interest in your solutions?

In the Interest stage the buyer has a better understanding of his problem. From his research during the awareness stage, he has found a few solutions for it. A company’s marketing collateral for this stage should build interest and direct the buyer to look up your products. Ideal types of marketing collateral at he interest stage are Solution Videos, Worksheets, Sales presentations, Webinars, In-person events, Market Research reports. 

Stage 3 - Consideration stage:

Objective - How to get your solution in the consideration set?

During the consideration stage, the buyer is wishing the pros and cons of the various products or solutions that are available. In a B2C the process might not last beyond a few hours because the transaction size is small and need is not very complicated. However, in a B2B environment, the problems are complex, and the purchase value is high. Ideal types of marketing collateral at consideration stage are Buying/product guides, Brochures, Evaluation tools, Case Studies, Testimonials, Data sheets, Tip sheets, Comparisons. 

Stage 4 -Decision Stage:

Objective - How to make the prospect take the decision to buy

In the Decision stage, the consumer has shortlisted the products that he’d like to purchase. Within the product list, he is undecided about the best option that suits him. So, marketing collateral appropriate for this stage should be convincing enough to help them make an informed decision. For example, user reviews narrate how a user’s challenge was solved using the product. Ideal types of marketing collateral at decision stage are Tailored workshops, Executive presentations, User reviews, Purchasing guides, Proposals.

Stage 5 - Implementation Stage:

Objective - How to ensure a smooth implantation

In the implementation stage the customer has made his choice and purchased your product. Marketing collateral for this stage of the buyer’s journey helps him understand how to use the product and make the most of it. Ideal type of marketing collateral at implementation stage are FAQs, Use Cases, Checklist, Welcome kits, Reference guides.

Stage 6 - Adoption Stage:

Objective - How to increase product adoption/usage

In the adoption stage the customer has begun using the product and has discovered the benefits. At this stage the ideal marketing collaterals are new feature updates, and shortcuts while using the products. Ideal types of marketing collateral at adoption stage are Best practices, Tips and Tricks, Play books, Support Guides

Stage 7 - Retention and Advocacy Stage:

Objective - How to create customer advocates

When the buyer is quite satisfied after using the product, he becomes an advocate for it and begins suggesting it to his business associates. He might even review your product on online forums and platforms for the benefit of his peers. Ideal types of marketing collateral at retention and advocacy stage are Practitioner guides, Journals, Newsletters, Communities, Feature Updates, Customer Awards, Upcoming features, Q&A forums. 

Marketing Collateral Strategy:

Putting together a successful marketing collateral strategy needs flawless planning. It is much more than a transactional blog post one week and an e-book the week. That is setting yourself up for disappointment even before you have published a collateral piece.

What is needed is an organised approach to build a marketing collateral strategy that can flow to a marketing calendar and later for execution. Here are six things to keep in mind to create a top-notch marketing collateral strategy:

        - Identify goals for marketing collateral

        - Get executive Buy-in

        - Align with organisation-wide themes

        - Create brand identity

        - Learn from the leaders

        - Use a marketing collateral management system

Measuring the effectiveness of Marketing Collateral:

Good content undeniably produces better customers. Customers who are more invested in your business are more loyal and are more willing to share their story with others. We often tend to get carried away by the number of likes and shares that our social media posts get. True, they are a good indicator of what our audience feels about it. However, do they define the efficacy of our marketing collateral? Can they tell us by how much did our conversion rates improve? Or, what is the next marketing collateral that our target audience is ready to consume? The answer is a resounding ‘No.’

That’s why measuring marketing collateral engagement is critical. It can give you answers to questions such as:

        - How many people have viewed your content?

        - Who gets to see it further?

        - Which portion of your document is attracting more attention?

        - What was the average time spent?

        - How many marketing collateral pieces are unused or undiscovered?

        - What are the opportunities that you are not chasing on yet?

For the best results you must make sure you mend your fences with sales people, speak to internal teams, venture out as often as you can, and meet customers at every opportunity. 

End Note: 

Creating marketing collateral is just one aspect of your overall marketing strategy. They are great for customer retention and at the same time great for customer acquisition.