Marketing Management Feed

No One Can Sprinkle Sugar on Bulls--- and Call it Candy

Sometimes it doesn’t make any difference how much sugar you add to something it won’t change the outcome.   Sprinkle a little or a lot of sugar on bull and it won’t change the taste; you can’t make it into candy.   You have to start with meaningful ingredients.  Let’s take sales lead management (yeah, I know it’s a stretch, but read a bit more).

C-level managers want to spend only enough on marketing to make forecast.  That’s it.  Anything more from their perspective and the money is wasted.   CFOs and CEOs only have a hint of an idea on branding.  To them branding is just another way for marketing to spend money without being held accountable.

For most companies adding a CRM and Marketing Automation System to the sales process is like sprinkling sugar on the problem.    They know they need to do  something, and heck, everyone else is doing it, but managing sales leads crosses so many department barriers that it resists change.   Even the best CRM and Marketing Automation Systems can only do so much.  Why is that?

We all agree that the fundamental purpose of a company is to create a customer

As Peter Drucker said, “A company’s primary responsibility is to serve its customers. Profit is not the primary goal, but rather an essential condition for the company’s continued existence. There is only one valid definition of business purpose: to create a customer.”  That can only come about when marketing or sales creates a demand for the company’s products (when all else fails quote the master).  

 Creating and managing a customer when they have raised their hand and shown an interest, whether from a salesperson’s cold call or a marketer’s lead generation program will succeed or fail based on one single criteria: unfailing follow-up.  Failure to sell is ultimately based on the old sales saw that says,

“All things being equal people buy from people they know,all things being unequal, people buy from people they know.”

If you fail to follow-up and start a conversation it isn’t a surprise when you lose the sale. 
75-90% of all customers who seek information from a company are never followed-up with anything more than a brochure or an email.  And yet the typical B2B product takes from 3-6 touches (conservatively) to turn someone into a customer. 

To create a culture of unfailing follow-up requires a mandate from management to both sales and marketing, tracking systems (CRM) and information delivery systems (MA).  Companies that have a 100% inquiry follow-up can cut their marketing budgets by 50% and still increase sales within 90-120 days.  Marketing Automation programs are inexpensive tools (sugar) that provide insurance for lead follow-up when the salesperson fails. 
 
Take a solid lead generation program that delivers qualified leads, mix in rules for 100% sales lead follow-up by salespeople, a CRM system for tracking and accountability, and sprinkle a marketing automation program into the mixture and you have the ability to create a customer at a faster rate than your competitors.     

In this case you’ve sprinkled sugar on the process and it does come out as candy!


Karen Rubin - 5 Minutes on Deciding what's Important and What's Not

Karen Rubin, VP of Growth for Owl Labs talked about the learning curve of operations with start ups. With startups, it's the 80/20 rule where 20% of the tasks take the most amount of time.   

Karen says, "But actually, 40% is good enough in startups on the operational side.  Ask yourself, What part of the business does this impact now and how permanent is the solution that I'm executing on?

For example, you may have a solution that you need to do manually every week for a period of time until you know it's the right solution.

The common mistake is that people ask, "What's the perfect right solution I need to get to?" before they know if they are headed in the right direction.

"Start with the smallest thing you can do, do it for a while, then figure out how to automate after you are sure this is the right path."

Mike Volpe says, "It's OK to do things that you know will break. And it's OK to not fix things until they break or are close to breaking."

Listen to the full episode here.

About Our Guest

As VP of Growth for Owl Labs, Karen Rubin finds solutions to sticky problems and looks for creative ways to grow quickly. Prior to Owl Labs, Karen served as VP of Product for Qunatopian, Entrepreneur in Residence at Matric Partner, and Product Manager at HubSpot. She’s passionate about startup culture and the energy, creativity, and intelligence of the people who work there.


How to Treat Gas, Bloat, Wrinkles and high Blood Pressure Caused by Salespeople

  IStock-1015296318Note: This is one of our most popular posts and brought back for your amusement. To see the how much the woman in the photo has changed since the first post, click here

It’s a proven fact that salespeople can cause premature aging in marketing people.  Wrinkles are the most visible indication that salespeople are stressing out the marketing department.

Doctors tell me that another symptom of premature aging in marketing people is increased blood pressure (usually within 25 feet of anyone from Sales, including sales management).   Other health issues may be gas and bloating; severe snoring and lack of sleep; heart palpitations and migraine headaches between the eyes.  Stomach ailments are also reported when salespeople fail to make quota and complain to Marketing.

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June 7: Account Based Marketing for Mid-Size Companies (Live Online) 10:00am–12:00pm PST- 20% Off

 

 

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June 7: Account Based Marketing for Mid-Size Companies (Live Online) 10:00am–12:00pm PST

You’re invited to expand your knowledge of ABM Best Practices that can dramatically improve your sales pipeline in the DMAnc.org's Live Online workshop, Account Based Marketing for Mid-Size Companies.

We’ll share ABM go-to-market step-by-step tactics and sales pipeline building strategies with supporting examples.

  • ABM Best Practices
  • Strategic uses of ABM to open doors in target accounts
  • A realistic game plan for tight budgets
  • Budget saving trade-offs
  • Live Q&A

One added benefit is that we’ll send you recordings of updated course material in the future, as long as we have your current contact information.

You can take the workshop à la carte or complete just 8 of them for a certificate in digital marketing.

 

June 7: Account Based Marketing for Mid-Size Companies (Live Online) 10:00am–12:00pm PST

 

This workshop takes a realistic view of ABM and cuts through the hype that often surrounds it. Through the eyes of small and mid-size companies we'll focus on the key elements necessary to plan and execute a realistic program with a positive ROI.

We’ll have frank discussions on what an ABM program can and can’t do. With so much being claimed, we’ll insert some realism into the equation. Without shiny objects running up the bill with minimal ROI payback, this session will share ways to accomplish the desired goals while staying on a tight budget.

Key topics covered in the workshop will be:

  • Basic elements of account-based marketing and the recent developments making a buzz
  • Levels of ABM maturity (so attendees can see where they rank in the ABM readiness index)
  • Goal setting and revenue-based funnel requirements for target accounts
  • Target account selection strategies
  • Prospect data build out strategies
    • Ideal Customer Profile (ICP) tactical checklist
    • Intent data cost benefit ramifications to consider
  • Go-to-market and pipeline building methods with campaign examples
    • Account building tactics to consider
    • Lead generation approaches, what works/what doesn’t
    • Budget ramifications and tradeoffs
    • Lead/sales funnel conversion rates, and what you can expect
  • ABM process and automation tools
    • What to automate and what not to (you’ll be surprised)
    • When to automate
    • Vendor neutral landscape options
    • Cost and ROI considerations
  • Common mistakes to avoid
  • ABM framework and planning—checklist to use in creating a sound plan

This workshop is created for professionals at all levels in these roles:

  • Sales pipeline planners
  • Sales and/or marketing operations
  • Sales and marketing management
  • Demand generation and campaign planners
  • Market strategy planners
  • Account/Lead development managers
  • Business development management
  • Channel managers

Instructor: Tom Judge

 
   

"Insightful & timely actionable information I can take to the bank—great use case examples and fresh perspective on ABM."—Rocco Santoro, Growth Architect, Business Catalyst, Ecosystem Developer, Advisor—GISTICS Incorporated

"This workshop is a great idea and great job pulling together."—Gina Varela, Senior Global Campaign Manager, Enterprise Marketing—Veritas Technologies LLC

 

Requirements for Digital Marketing Certification

 

If you decide you want a Digital Marketing Certificate, you will complete any 8 total workshops online or in-person, taken within two years of starting. Of course, if a certificate isn't in your immediate plan, you can take as few or as many of the workshops as you would like. These workshops are for those who are ready for more in-depth training on a specific marketing discipline. They are practical and tactical, with step-by-step instruction and integrated case studies.

Students who complete the digital marketing certification program will receive a frameable Certificate of Completion. And, a digital badge to include on your website, blog, email signature, or social profiles.

We look forward to you attending these important DMAnc.org Certification Workshops.

Sincerely yours,

Laurie B. Beasley, Chair, DMA Northern California
lbeasley@beasleydirect.com

 
   

Super offer from our sponsor MountainTop Data. Registered attendees to any of these workshops will receive $1,000 in free B2B data credits.

 
   

Do your Salespeople Waste Time Generating their own Sales Leads?

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No one waits around the elevator to get leads, at least we hope they don’t, but how many other actions do your salespeople take to get their own leads which are unproductive?  I know salespeople aren’t literally waiting at the elevator to get leads and yet some people say cold calling by knocking on doors is dead.   However, I know medical device salespeople who are successful at it and are not ready to give it up.  Some say cold calling on the phone is dead and yet I know many salespeople making hundreds of thousands of dollars selling on the phone.  

Because I have a marketing background, as well as sales management, I think that the most productive effort salespeople can make is following up on qualified, sales ready leads.  If you can supply your sales reps with 15-25 qualified leads a month, none of them will be caught near the elevator cold-calling.   Of course a marketing automation system to qualify and create the leads and a CRM system for tracking (and qualifying) helps tremendously. 

 The sponsors for this cartoon are Sales Leakage Consulting and The Velos Group.

You can copy this cartoon, leaving in the sponsorship names and use it for your own purposes. 


Marketing Gains Power in the C-Suite

Why Marketing is in the Most Powerful Position in 100 Years

This program addresses the question of who owns the pipeline, sales or marketing and in doing so it becomes apparent that marketing not only owns it but is in the most powerful position in their company in nearly a century.

The sales pipeline, aka the sales funnel, is the long-standing measurement of the past, present, and future for a company. In the not too distant past marketing dumped demand into the beginning (top) of the pipeline and sales took responsibility for the rest of the process.

For years marketing has chipped away, usually unintentionally, at various steps of the sales pipeline to aid the salespeople. Most of this is made possible by marketing automation and telemarketing being managed by marketing. After reading some of the more recent research from Velocify of late and comments by people I respect, I think that the sales pipeline ownership has finally shifted from sales to marketing. Marketing in more sophisticated companies probably manages more than 50% of the pipeline steps now and to me, that means ownership has shifted.

Jim Obermayer is the host with the commentary this week.

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SLMA Radio is the longest running weekly Radio/Podcast program with 502 episodes and 108,000 listeners on the Funnel Radio Channel. 

 

Marketers are the Real Creators of Wealth in B2B Companies

Without the Marketer, Most B2B Companies Would be Regional Door Knockers

"Nothing happens until the sale is made," is most often quoted as a lead-in to praising salespeople. And the speaker is almost right, but we know that deep in our B2B marketing hearts, it all starts sooner than that.

Stu-tell-young-peopleWhy it's Important

"In B2B, nothing happens until the marketer creates demand. Without the marketer most B2B companies would be regional door knockers; they would not be able to go beyond the reach of their salespeople. Marketing in B2B companies creates Wealth. Real wealth. Hardcore, measurable, bottom line profitable dollars that drives the growth of our 11,000,000 plus businesses in the US."

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When Management Calls for Cuts in the Marketing Budget - A True Story

IIStock-585614264t was early September, late in the afternoon on a Friday as I remember, when the company president called me into his office.  It was a medical device company, which had gone public in the previous year.  Sales were going well, so far.

He started off quickly and got to the point.

“I need a favor,” he said.  “We have to cut the budget substantially in this upcoming last quarter; I need $400,000 from Marketing.  Please get back to me on Monday and let me know where you can cut.”

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You can't take credit for what you refuse to measure!

All know the way; few actually walk it. ~Bodhidharma

Bodhidharma was a Buddhist monk who lived during the 5th/6th century CE. 250px-BodhidharmaYoshitoshi1887 (1)  His famous words echo today for marketing.    This blog entry has been one of the best read of our 1205 blog entries and 145,641 views.  We have repeated it three times in eleven years.  It is also one of the shortest we have published. 

Of course, this applies to Buddhism and the long sought after burst of enlightenment, but it also applies to many everyday life goals.  

Everyone knows the way to prove the ROI for lead generation programs, right?  So if this is true, and everyone knows the way, why do so few take the walk?    

There has always been a dose of fear or anxiety over reporting results that might be mixed, and fright that if a lead gen program doesn’t do well, the whole department will be held dreadfully accountable.

Continue reading "You can't take credit for what you refuse to measure!" »


Measurement is the Beginning of Marketing Management

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Measurement is the beginning of marketing management and without a beginning there is no justifiable end. 

While an increasing number of marketers are beginning to realize this, there are those who know it but are painfully learning that they have no choice but to measure what they manage.

Continue reading "Measurement is the Beginning of Marketing Management" »