Make an Impact

Marketing Insight to Grow your Business

What’s Your Story? January 28, 2009

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Every company has a story. A pregnant, working mom is frustrated with the lack of professional maternity wear available. She takes a chance and launches a clothing line. An immigrant family’s love for traditional Russian food inspires them to open a restaurant. A struggling college student launches a tech support company in his dorm room. Over the years, he transforms it from a one-man operation to a division of Best Buy called Geek Squad.

People don’t identify with products or services. People identify with people. And, there is a story behind every person. The first step to building a relationship with  your market is to open up and share your story. Where did you come from? How did you get here?  And, how does your story shape the way that you do business? Put the story on your website and, if it’s really interesting, pitch it to local media. They love a good human interest story!

While tactics like coupons and discounts cost money and only serve to cheapen your brand, sharing a true story about your path to success costs little and will work to strengthen both brand perception and market share.

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“Marketing bit me!”….”Well, sales was looking at me funny!” December 3, 2008

Thanks to years of working in corporate marketing departments I am keenly aware of the sibling rivalry between sales and marketing teams. Ask the sales folks why their numbers are taking a dive and they’ll say the marketing group is to blame because they don’t provide the resources needed to sell successfully. Ask the marketing team who’s to blame and they’ll quickly point their fingers towards the “lazy” sales team who isn’t using the quality resources they are given to their full potential. Simmer down kids, blame doesn’t increase sales so it’s time to share your legos and play nice. Here’s a few tips to get you started:

  • Define Ideal Leads- Prevent the ever-so-convenient complaint about the quality of leads (there’s always that one guy who laments that the leads are just BAD- even if your company sells Bacon of the Month subscriptions and you hand him a list of active members of the “Bacon Lovers Who’re Ready to Buy” association). Bring the sales team into a meeting to define exactly what a qualified lead should be. Include factors such as industry, company size, budgets, titles, purchasing timeline, etc. You’ll focus in on a precise target to which you’ll aim your lead-generation campaigns. Giving the sales team a voice during the lead definition process ensures a shared victory for sales and marketing teams when sales go through the roof, or a shared sense of responsibility if  the target is missed.
  • Don’t Forget the Steps Between Lead Generation and Closing- Simply handing over a list of smoking hot leads to the sales team isn’t enough. The steps the sales person takes after initially contacting the prospect will make the difference between a lead closed and a lead lost. Once ideal leads are identified, every person involved in developing collateral for the sales team must understand the prospects’ buying process. Understanding the needs of who you’re writing for is essential to knowing what to write. Each touch, or contact, must add value through its ongoing relevance to the targeted prospect. Arm your salespeople with a variety of resources that establish your company as an expert in the industry- articles, whitepapers, case studies, company blog- and prospects will begin to view your salespeople as a trusted resource. A relationship will form and sales will indefinitely follow.
  • Foster Open Feedback Throughout the Sales Process- If a salesperson fails to close a deal it is essential that they communicate why they lost it. The old adage “you win some, you lose some” is true- but in order to win more in the future you need to understand why you lost some. A solid CRM system will keep everyone in the loop but the system is worthless unless the sales team diligently updates it. Ask the sales managers to require ongoing updates on the status of their sales team’s leads but expect pushback- even the best salespeople tend to be a little lax on the organization side. Just remind them that they can cite “crappy collateral provided by inept marketing team” as reason for a lost sale and they’ll be more likely to participate.

To the marketing team, sales is the pesky, messy little brother. To sales, the marketing group is the overbearing big sister. Love ’em or hate ’em you can’t live without ’em. So stop pointing fingers and start working together as a singular team with the common goal of increasing sales. The whole family will be healthier, happier and more productive for it.

If you blame others for your failures, do you credit them with your success?”- unknown

 

Evolve Your Marketing Mix or Risk Extinction September 22, 2008

Times they are a changin’. And, so are the dynamics of the marketing landscape. According to Mike Iaccarino, CEO of Epsilon, a leading marketing services firm, “In this economic climate, businesses are seeking accountability and measurable results. Data driven marketing is an increasingly important component of corporate marketing campaigns as senior marketers employ sophisticated segmentation strategies to recruit and retain customers.”

In a survey conducted by Epsilon in August 2008, 175 U.S. Chief Marketing Officers and marketing executives of some of the largest brands in the nation gave us a peek at their evolving marketing mix. The shift to digital marketing is evident- new media in the form of social computing and blogs is getting increasing attention from businesses:

  • Social computing (including word of mouth, social networking sites, viral advertising, etc.) was the most popular emerging channel with 42% of marketing executives expressing interest in adding it to their marketing mix.
  • Blogs were the second most popular emerging channel: 35% of marketing executives want to pursue blogs and 19% already use blogs
  • Almost one-third of CMOs mentioned Podcasting as an area of interest: 31% are interested in adding Podcasting to their marketing mix and 18% already have.
  • Mobile devices also elicited interest: 29% are interested in Mobile Devices (Phones/PDAs) and 22% have added them to their marketing mix.

Interesting responses. These execs know that when budgets are tight accountability is key. If marketing is an expense that you are considering cutting it’s probably because you can’t justify the cost. And, that’s a sign that it’s time to evolve your approach.

Thanks to Larry at Epsilon for sending me the link to the article.