Marketing Management Feed

Look Where You Want to Go in Marketing, Not Where You'e Been or Where You Are!

The first rule in ridding a motorcycle, my father taught me (under the protest of my mother about a Harley I had just bought) is to keep your eyes on where you want to go and the bike will follow.  Not unlike advice every marketing manager should heed.

IStock_000015451654-200 (1)Why its Important

"Right now, close the door to your office, clear the white board and fill it with where you want the company and the marketing department to go.  Think forward. "

You won’t get a 20% market share growth by thinking last year’s 10% was good enough.    Repeat this and eventually you’ll be a failure.

You won’t reach 50% in qualified leads for the salespeople by thinking last year’s 10% was good enough.  Repeat last year and you’ll eventually be a failure

Why it Matters

"You can’t reach a 100% follow-up of sales leads if you think last year’s 25% follow-up is good enough.  It’s average and not competitive.  Repeat last year and you’ll eventually be a failure."

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"Well done is better than well said."

Benjamin Franklin said "Well done is better than well said." about 229 years ago and it is still fresh today.

Ben FranklinsWith the talk we have heard about CRM and the progress marketing automation has made for the last ten years, most marketing managers are still not walking the talk when it comes to measuring ROI for lead generation. I just didn’t realize how much insight Ben had into marketing.

James Lenskold the author of Marketing ROI certainly nailed it when he taught marketers how to stop talking about marketing ROI and start proving it. I am sure every marketer would like to hear “Well done" instead of just well said.

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Is this a Fairy Tale? A Marketing Manager Builds Demand Gen Based on Sales Quotas?

IStock-802452108 (1)“Do you know,” I asked the marketing manager, “how much money to spend on demand generation, and how many leads to create?”

With a shrug she said, “I do what we did last year.  We have a marketing plan,” she continued. “We review last year's spend and and make adjustments, usually on a budget the CFO gives us.”

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You Can Estimate the Number of Leads Needed to Make Forecast

Forecasting requires marketing to estimate the number of inquiries your salespeople will need to make quota in 2018.   It is one of the CMO’s most important functions. 

IStock_000028410392LargeCompared to most companies that just try to deliver as many leads as possible, this precise method is based on data.  It will be your data that you can point to and use as a base for your predictions.

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The price of being a bad client

6a0147e05adc32970b01b7c91d7013970b-320wiIt sounds funny, but there is, or should be, a price to pay when we are less than pleasant, respectful, kind toward those we have hired to do a job. Just because we pay people doesn't give us the right to be rude, irritable, condescending or mean. I am reminded of this by my children when the seventh junk call of the day comes through and interrupts my day because it has a spoofed area code that "may be someone I want to talk to." They remind me that people don't typically set out to take terrible jobs because they get joy from it. They do it to put food on the table. Take that up to professionals we hire for accounting, our legal needs, sales training. They welcome you into their office in hopes that they can help you solve a problem, help make you more money and lessen your burdens. This is difficult when you arrive in attack mode carrying the weight of your day or week, misunderstandings, or even fear. Stop. Breathe.

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Does Learned Helplessness Stalk Marketing Management?

220px-Flickr_-_The_U.S._Army_-_Comprehensive_Soldiers_Fitness_(1)croppedPsychologist Martin Seligman popularized the condition called Learned Helplessness

Seligman realized that when he placed dogs into an inescapable environment and administered electric shocks the dog eventually stopped trying to escape. If the dog was placed into an environment where it could escape and given shocks it would still not try to escape.  It learned to give-up. This has had a major impact on human psychology.

Learned helplessness stalks the lives of marketing managers (and the CFOs CEOs and presidents).  In most instances marketers have been placed into an environment where they have been taught it is futile to prove the ROI for lead generating activities.  After time passes they quit trying to prove an ROI and suffer the consequences of Learned Marketing Helplessness. 

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George Patton’s Lessons: You Have no Choice But to Attack, Attack and Attack.

During difficult times,  from CEOs and presidents to sales and marketing managers each is confronted with one of two choices. 

  1. Will we defend, therefore shrink, possibly survive but in the process risk the death of the enterprise?
  2. Will we fight and take market share from those who choose defense and cannot manage their business?

If the company chooses defense it takes the chance it will save itself into a corporate graveyard. 

If it survives it will most likely give up a large chunk of its market share to a more aggressive competitor. Those who took the option to simply survive by cutting back on sales and marketing and shrink the company may die a bankrupt death or barely survive to compete.  They must rebuild the marketing and sales departments and their credit lines.  Their future is bleak, but they may have a future if nothing else than to sell to a competitor who understands the meaning of the word attack.  

PattonphotoWhy this matters:

"Nobody ever defended anything successfully, there is only attack and attack and attack some more."

George S. Patton


But we don't have to pay too much attention to the"defender."   We should pay all of our attention to those who used their wits and their cunning marketing and sales departments to attack. 

 If the company makes the crucial decision to avo

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