July 2017 — Message From The President

2017 will Surely be an interesting year — in fact, I predict that by year’s end, we will not recognize [its] beginning.

Alignment between Marketing and Sales is potentially the largest opportunity for improving business performance in 2017. ” ~ Marketo

2017 Loading BarSo What Does It Take To Market Effectively Within The 2017 Business Landscape?

To simply say that Sales and Marketing departments in 2017 are two very unique entities, underserves the depth of this understanding.

Marketing is more aligned than ever to be able to elicit the engagement, in-turn delivering MQL’s (marketing qualified leads) to the sales department whose job it is to make the offer and ultimately close the deal.

The digital and physical process of marketing is — and has always been — about creating and opening a dialog (albeit rarely a direct conversation) to generate leads/prospects who are interested in your widget or service.

This process typically goes something like this:

  • Marketing
    • Make a plan and strategize the campaign process
    • Determine the message target/s and deliver targeted message/s
    • Create and engage the target with compelling messages
    • Create and engage the target with a strong call to action
    • Track & ID conversion/user engagement
    • Pass the baton to Sales
  • Sales
    • Discover prospect’s “exact problem”
    • Discover prospect’s “solution awareness level”
    • Offer solution/s
    • Ask for the money/close the deal

2017 Strategies — Effective Planning For Aligning Your Sales And Marketing

The balance to the Marketing effort has been how the Sales department can then — with the prospective customer having a high solution awareness level —  provide the offer

“No matter how the CRM industry evolves, getting the sales and marketing teams to synergize is organizational goal number one. Every success grows from their collaboration and free exchange of ideas because you can’t serve the customer right when your best people are working blind.” – Marshall Lager (@Lager), Managing Principal, Third Idea Consulting

New Buying FunnelAt the top of the funnel (TOFU), your audience is aware of your brand. Through marketing, they eventually start to see themselves as friends of your brand – they have a relationship with you and feel that they can trust you.

The middle of the funnel (MOFU) is where the traditional sales funnel begins – with a bunch of names in your system. Not every name in this stage is your friend – someone who is “engaged” has had a meaningful interaction with your company, but a “target” is a qualified potential buyer. When your lead scoring process indicates that it’s time to contact someone, he moves further along in the cycle. After talking to an SDR, that prospect is either moved along as a sales lead or is recycled to the “target” stage for further nurturing.

2017 Lead LifecycleSimilarly, a sales rep decides which leads move forward as “opportunities” at the bottom of the funnel (BOFU), and which leads get recycled back for more nurturing by the team. The sales rep is also in charge (hopefully) of turning the opportunities into very happy customers.

“One way to build trust between Marketing and Sales is to make them accountable for the same company goal – revenue. In our book, Fire Your Sales Team Today, we refer to this blended team as The Revenue Department. Now, Marketing HAS to deliver quality leads, and Sales HAS to follow up on all leads. These two teams work together to understand the challenges associated with turning leads into new customers, and both teams work toward driving more top-of-funnel leads, close more deals, and shorten the sales cycle – all because they want to meet monthly revenue goals.” ~ Mike Lieberman (@square2), Co-founder and Chief Marketing Scientist, Square 2 Marketing

Because Sales has the option to recycle prospects that aren’t ready to move forward, Marketing has to provide good leads and Sales has to follow through. Everyone works together toward the same goal.

Four 2017 Best PracticesFour Best Practices to Ensure Sales/Marketing Alignment in 2017

  1. Shout it from the C-suite.
    The first step in aligning the 2017 sales and marketing teams is to make sure the goal comes from on high within the company, so the very first [step] is an executive agreement.
  2. Create “pushy” content.
    Content marketing’s role, as it concerns sales, is to push potential customers further down the sales funnel before a salesperson even contacts them. Since customers today research purchases in the early stages of the buying cycle, content marketing takes on the education role once held by sales professionals.
  3. Rethink lead gen in 2017
    Lead generation suffers when sales and marketing aren’t aligned, often resulting in a “spray and pray” strategy that wastes everyone’s time, experts say.“There’s a whole process that needs to be in place where prospects come in from marketing, marketing attracts them to the product or service, and then hands them off to sales,” … “Sales is then able to effectively understand the person’s needs and interests and how they can close the deal.” ~ Jeremy Boudinet, Director of Marketing  at Ambition.
  4. Tie ROI to marketing.
    With a properly aligned marketing and sales alliance, marketing gets a huge help in one area that’s long been a challenge — “Reporting ROI”. Marketers’ budgets are increasing every single year, but it’s very difficult for most CMO’s to really tell what their contribution to revenue is because most marketing leaders are still thinking about the number of leads and not showing what we contributed to revenue.

Which is Better? Online vs. Print Advertising

Advert Spending By Media Type
Source: OnlineMarketingTrends.com — As Projected for 2015 & 2016

“So, which is better, online or traditional advertising?”

A client recently asked me just that question.  The answer, however, is not as straightforward as you might think.  So in a twist of tradition, here is the ‘meat’ of my answer: “Advertising success depends on two factors:

  1. Who is the target?
    and
  2. What are your goals?”

Let’s break down these two components…

Who is the advertising target?

Often overlooked, ‘knowing your target’ is a crucial piece of an effective sale conversion strategy.

“Everyone should want to buy my [widget/service]!”, a client told me once; and while potentially true, research shows that timing & relevance are a much bigger factor in making a buying decision. Crucial pieces of effective sale conversion strategy rely on saying the right message at the right time. As such, knowing your target and their buying cycles tends to lead to a significant lift in success when it comes to any advertising.

Demographics are a huge aspect of knowing your target

Today’s ability to track age, gender, location, how they saw your advert, how long they stayed, did they share it, etc., are at the core of the advantage of digital advertising. In fact, “Direct Response Marketing” techniques are heavily invested shopper data in an effort to ‘personalize’ the shopping experience for each individual.

Advertising GoalsWhat are your advertising goals?

Today’s goals seem different, but they’re not. In fact, the goals have not changed until the last 20 years. It is still all about the conversion of the audience or “target” — are you seeing the tie into the first advertising component above?

So, what did traditional advertising discover that digital ads still need to work on?

In short, ‘message effectiveness’. Tradition advertisers recognize that the timing at which their ads display — and the core of the offer — must be in alignment with the awareness level of the target. While simple messages like “free trial” and “try it now” are synonymous with today’s advertising, traditional adverts, traditional methodologies tend to focus on an awareness level that works off the brand awareness level — and consequentially, the true reason people buy — how the experience made them feel.

Today’s conclusion to this deep advertising question

I could probably write 10 more blogs on this subject and only scratch the surface, but the bottom line is, both types have their place. A wise marketing mentor taught me a lesson that I will never forget: “Never put all your eggs in one basket!”.

How Is A Scientific Marketing Plan Developed?

Funnel And Message Timeline

A scientific marketing plan starts with an observation.

For example, analyst company Intellidyn recently gathered data about thousands of North Americans. From this data, the company realized that people over the age of 64, married couples, ex-military individuals, and farmers are highly likely to want to travel to Asia. Because of this information, a vacation package company marketed their Asian vacation packages to those who fit this profile, and saw an increase in their sales as a result.

5-Step Marketing Plan
Image Source: LinkedIn.com

Once an observation is made, the hypothesis can be created from this information.

For example, online companies such as Amazon.com collect data about what individuals look at online and what they purchase. They then make a hypothesis about what that person is likely to purchase in the future. If a customer searches a book by a certain author, Amazon.com considers it a strong possibility that they might be interested in buying another book by the same author and suggest more books by that author to that person. This is where “Personalized Marketing” comes into play. 

Personalized marketing is the ultimate form of targeted marketing, creating messages for individual consumers. That said, it is most often an automated process, using computer software to craft the individual messages, and building customer-centric recommendation engines instead of company-centric selling engines.

Companies then experiment based on their observation and hypothesis. For example, a phone company might analyze user records and see that households with heavy phone use between the hours of 3:00 p.m. and 6:00 p.m. are more likely to have teenagers. The company can then launch a marketing campaign to those homes, advertising a special deal on additional phones and lines for the home.

Once just a search engine, Google is now the current king of scientific marketing.

There are an average of 4,717,000,000 searches performed on Google.com every day (c. 2016), up from 9,800 during 1998, Google’s official first year.

What is your online marketing plan?Nowadays,  much more than just a search engine, Google offers a variety of analytical tools for companies to see, understand and act upon data about their website, online advertising, mobile applications, websites, and social media networks.

Google data analysis tools includes tracking and reporting anything from how many people download their mobile app to how many of their online customers make purchases. These reports also incorporate information about social media usage and online keyword searches.

All of this data mining and reporting allows companies to gather valuable information about their audience and make targeted business decisions based on this information.

See JetPack,  StatisticBrain and Google Analytics.

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