Archive for the ‘sales’ Category

How Training for a Half Marathon is Like Committing to Incorporating Marketing Into Your Business

October 25, 2016

13 weeks. One quarter. A lot can happen in that timeframe. This blog tracks what can be accomplished in 13 weeks with parallels between training for a half marathon and incorporating marketing as an ongoing, integral part of growing your business.

Half-Marathon View:  13 weeks ago I committed to training for my first half-marathon. I hadn’t been running much during the summer – maybe 3 or 4 miles every once in a while. I was working out regularly so I was fit, but not running fit. In late July, I worked out with a friend who inspired me to go for it. She encouraged me that I could train and run 13.1 miles. The farthest I have ever run in a race is the Falmouth Road Race – a 7 miler. This was (in my mind) doubling the distance – I know math, but seriously. I don’t buy the thinking that if you can run 7 you can run 13. I know if I can run 7 miles,  I can run … 7!

I printed out a training schedule and I had just enough time for what they recommended – 13 weeks.

The 13 Week Plan

My 13 Week Training Plan

However, that assumed you had a base of 8 miles per week. I didn’t. I had to build it so I ignored that minor detail of having a base and started ticking off the plan, day by day, week by week.

 

Business View: Set a goal for the next 13 weeks. It may seem daunting, but you can do it if you put your mind to it. What’s the goal? For this blog, the goal is you are going to (finally!) incorporate marketing into the ongoing fabric of your business. Stop dabbling with unfocused random marketing tactics. (The equivalent of running a few miles here and there) Stop putting off investing in your business and convincing yourself you will do this next year, when you have more sales, when there aren’t so many other demands on your time. You know that will never happen. You too are starting with no base as your company has not been investing in marketing (really) so off you go! Commit to the goal and get started!

Half Marathon View: Training – the first few weeks. I was not used to running so my week did not have that time baked into my calendar. I had my weeks planned with work, personal commitments, and my gym workouts. There was little ‘free’ time that I was looking to fill. Now I needed to make time for adding more exercise and specifically incorporating running into my days. Every week I mapped out which days in the week I would run and planned the longer distance run to be done over the weekend.

Business View: Training – the first few weeks. Marketing is not on your calendar either. You are the CEO – you wear many hats. You aren’t looking to add more things to your calendar. You are busy. Your days are also booked solid running a business. Where is finding the right marketing partner going to fit in? Just like running, you book time in your calendar and you make the time to evaluate your options. You wisely realize you don’t need full-time expertise so hiring makes no sense. You are looking for a marketing partner – one point of accountability that brings the team needed over time to scale as you need it. Work on the plan to identify partners to evaluate. Start building your base.

Half Marathon View: Summer vacation. I packed my sneakers and my running watch. There was no extra time in the training plan for a week off. As it was I was starting behind with no base. I could not afford to lose any time and risk injury by ramping up too quickly. I had to keep building endurance and getting the miles in. While going to the pool after a busy day of sight-seeing was really appealing, I laced up and went out for runs along the San Diego coast.

Business View: Summer vacation. Maybe I can skip a week and play golf, lay in the sun and get away. I have survived this long without focused, consistent marketing integrated into my business. Business is a bit slower this time of year anyway. After all, it is summer, I can let this slide a bit and skip a week right? OK, I know, Labor Day is around the corner and we need to get going now to build the fundamental marketing foundation we will need for a strong final quarter of the year and a strong next year strong. I will not take time off – I will work on evaluating potential marketing partners to help me get a marketing strategy and plan in place. I build a short list and keep working on it.

Half Marathon View: Building Weekly Miles and running distances I have never run. The plan is becoming a bit daunting. The mileage for this week includes a 10 mile run. I have never run 10 miles at once in my life. I am psyched out. What if my plantar fasciitis starts acting up? What if I can’t do the miles? What if it is hot on Saturday and I run out of steam? Out the door I go to run 10 miles. I am wiped out when I finish the run, but have achieved an important milestone. I have run double-digit miles!

Business View: Your trusted advisors are turning up the heat – have you selected a marketing partner? You are down to five weeks to present a clear, actionable marketing plan for the rest of the year and for 2017.  Pressure is mounting and time is running tight. There is no room for not completing your ‘homework’ required as key input into the marketing strategy. Where are the 3 top initiatives and supporting goals and milestones due this week? You select your marketing partner. You commit to investing in marketing to help strengthen your team to drive future growth. A milestone is achieved! You are relieved and encouraged.

Half Marathon View: Final weeks. Building confidence. Visualizing achievement. Going from 10 miles to running 11 multiple times to running 12 miles. Focused. Committed. Slightly nervous, but prepared. Eat well. Get sleep. Don’t get sick.

Business View:  Final weeks. Feeling prepared for the upcoming meeting with the board. The bulk of the hard, strategic thinking is done and now it’s fine-tuning with your trusted marketing partner. You are seeing the benefits of securing a team bringing their proven marketing expertise to the table. You’re excited about the potential for the business now that a solid marketing team and plan is in place. You feel confident in the health of the company and the solid footing it is now on. The time and investment will pay off. You can start to sense it as can the other members of your team.

Half Marathon View: It’s Game Day. It’s windy. It’s cool. No chance of rain. My play list is ready. I have my chews to take every 3-4 miles for energy. I am ready. My only concern is the wind and not being too cold or hot. My #9 hat for Ted Williams (my Dad’s favorite player) is well-worn, but it is my running hat. I have affixed 3 things to the hat that mean a lot to me: an American flag pin, a pink ribbon for breast cancer and a dark blue ribbon for colon cancer. I wear a bracelet for Alzheimer’s.

My Running Hat

My Running Hat

 

I change my outfit twice. My friends convince me to start the run wearing gloves. I have trained for 13 weeks. Off I go! I complete my first half marathon by sprinting to the finish with a big smile on my face. Mission accomplished. I never walked. I did it. Wahoo!

Business View: Game Day. You are ready for the board meeting. Your marketing partner is well-prepared, confident and poised. The planning and thinking and strategizing over the past 13 weeks has come together. Initial marketing plans have been implemented to build momentum and are showing results. The company is stronger and your management team is stronger. The past 13 weeks has made a difference in your business. You set a goal, you built a marketing base (foundation) and you and your marketing partner crushed the meeting with the board. You executed on the initial plan and now you have the expertise and strength to rely on to build and grow your business with your ongoing marketing partner. Wahoo!

Mary Honan, For Marketing Matters

Mission Accomplished

Why Look in the Rearview Mirror?

October 18, 2016

bluetooth_rear_view_mirror_hands_free_car_kit

 

 

 

 

What’s the point of looking back? 

As CEO, what can you learn from looking back?  For Marketing Matters (FMM) starts year 10 this week. Given that milestone, I have been reviewing the past 9 years to update the business plan to grow and move forward. Part of that work has been ‘eating my own dog food’: updating and revising FMM’s marketing messaging and positioning.  It is from this place that I have been looking in the rearview mirror.

4 Key Takeaways from Looking in the Rearview Mirror:

  1. What a long, strange trip it’s been:  Revisiting the past 9 years by reading business plans, positioning, and reviewing clients has been fun! The path has taken many turns – some planned and some not. People I have met over the years, distant clients that helped launch FMM, and networking organizations that I was involved with. While time flies by, this is the longest ‘job’ now on my resume – wow!  So while it has not felt long, it has been strange! Some strange people along the way, but that is part of any journey! And with the strange moments being a blur in the rear view mirror it is actually comical to recall…and worthy to recall and learn from.
  2. The Cobbler’s Kids…I am a classic example of the Cobblers Kids not having shoes. So my takeaway is to not be so consumed with work that you don’t MAKE time to work on your own business strategically.  We are our clients’ outsourced marketing department. We develop and revise marketing messaging, design and build websites and keep all marketing materials current. Yet we (FMM) have gone years (yikes!) without updating our own website and our own marketing materials. Key takeaway – make it happen before year-end. I am now on a mission as this is embarrassing.
  3. Go Back. It is not wasted time. It really is enlightening to go back and review the journey. Where have clients come from? What networking efforts are bearing fruit? Make the time to go back and review your journey with an open, inquisitive mind.  There are key nuggets to affirm, to remember and to bring with you as you go forward. And if you are a Kenny Chesney fan like I am, listen to his song I Go Back as you take a stroll down memory lane and take notes.
  4. Celebrate. Celebrate progress. Celebrate accomplishments and how far you have come.  Whatever your milestone, take a step back and acknowledge the progress and the hard work that has taken you this far. It is not easy. However many years you have been doing it, feel good about how far you have come. Reflect on what you have built. As business owners we push ourselves and we work hard. A key takeaway for me is to pause and feel good about where FMM is now and how it started. I encourage you to do the same.

Looking in the rearview mirror has helped create a renewed sense of focus and energy!  Now I look forward to the road ahead and the journey to partner with more savvy CEOs of small and medium-sized growth-focused businesses.  I hope you too find benefit in taking a look in the rearview mirror for insight to help you move forward. And another final takeaway I have come to learn…enjoy the ride.

 

CEOs of Small to Mid-Sized Businesses – Take a Page out of Belichick’s Playbook

September 22, 2016

Summer is over. Fall is officially here.  While at the end of August and into early September, I yearned for a ‘Little More Summertime” as Jason Aldean sings. But within a short time frame, it feels good to be back full throttle in the ‘regular routine’; the work groove is back!  The Wall Street Journal had a great recent article about how September is the Real New Year. While the article focuses on getting one’s act together personally, the essence of the article applies to us as business owners.  Now is the time to clean out clutter in our businesses, focus, prioritize and plan.  We are in a productive time period and those who act will be better served than those who stay in summer mode too long.

PlaybookSo what does that mean for your business? What resolutions should you be making and committing to?  

Learn from Patriot’s Coach Bill Belichick.  While a man of few words in a post-game press conference (nearly painful to listen to), but his words of wisdom after Game 1’s win with Jimmy G as his starting quarterback were words of wisdom for any CEO/President/Business Owner this time of year:

“That’s the way to come here and get the job done,” Belichick stated. “And I’m telling you, we won the game in the meeting room, on the practice field, and in the walk-throughs. It just didn’t happen today. It happened all through the week. That was a great job.”

Belichick’s Playbook Simply Converts to 3 Key Components:

1) Build a game plan.

2) Implement a game plan.

3) Execute a game plan.

We all know that Bill and his management team have a game plan.  They have a Plan A, B and C. Fortunately for us as Pats fans they do have a plan: when the star quarterback is suspended for 4 games, they have a Plan B. When Jimmy G goes down in the second quarter of last Sunday’s game against Miami, they have a Plan C. Lots of questions this week about a Plan D – do you think they have one? I would bet on it!

So Take The Playbook and Apply it to your business:

  1. Do you have a game plan? If not, you have to kick-off your Fall season right here. We have all heard it: Failing to plan is planning to fail.  Get a plan in place.  Not for the sake of having one, but for the sake of prioritizing, establishing clear alignment and defining resource (human and financial) allocation.  You needed it in place yesterday so make the time NOW to get this done. The plan should include:
    • Goals and priorities for the rest of 2016? You should have a company plan and then each major functional area should have its own plan to support their role in supporting the overall goals. (Think special teams, defense, offense or marketing plan, sales plan, manufacturing plan etc.)
    • Define biggest challenges.
    • Develop a plan to overcome these challenges or workaround them.
    • Define metrics and milestones to measure progress along the way.
  2. How is implementation going? If you already have a plan in place, start here.
    • Is it being effectively implemented? Test yourself – are you sure?
    • Compare your business to the Patriots: pre-season, meeting room preparation. practice fields and walk-throughs. Is your business skipping important steps in the preparation (think sales meetings, think conference/event planning, think product launches, factory shutdowns etc.)  The Patriots leave no stone unturned in their preparation. be thorough. Pay attention to details. Don’t assume the details are covered. Discuss them openly and have contingencies mapped out and practiced – literally.
    • Is your team ready? Are they in shape? Do they know their roles? Do you have talent gaps? Training issues? Injuries (think vacations/sick leave/unfilled positions)
  3. Executing the plan.  If #1 is in place, and #2 is solid, then focus your Fall Resolution on execution.
    • Get your key team together to watch the films (aka review results and performance); what is working? what needs to be tweaked? Where are the weaknesses?
    • Be sure to involve the key people in your organization. Define action plans with clear timeframes to implement and ways to measure the effects of any changes to the plan.
    • Rinse/repeat. Revise and review.

Fall is here.  Personally, many people are back at the gym, committed to losing weight, updating their resume, volunteering for charities, cleaning out closets etc. As a CEO/President/Business Owner, tap into the energy for the benefit of your business to position your company for a productive, focused Fall season (and beyond). There is a certain rejuvenating spirit of cooler temperatures here in New England to leverage. Harness your team and the key business advisors you rely on to grow your business. While a man of few words, Belichick is a master at wisely having a plan along with surrounding himself with experts in their respective areas. This approach can and should be leveraged by business owners to surround themselves with talent to build, implement and execute according to plan (even if sometimes it is Plan C vs. the desired Plan A) It has served the Patriots well and served us well as fans.  Go Pats!  Go Red Sox!  Go Small Business Owners – Fall is here – get your head in the game and plan to prosper!

Are you on target?

February 6, 2016

Target-Audience

Know your audience.  Marketing 101 stuff, right?

So, when was the last time you reviewed your documented ideal target audience? If your answer is vague and reminds you of how you answer the dental hygienist when asked about flossing, it’s time to review it.

Why should you bother?

  1. Are you hiring this year? If so, a current ideal target audience will help shorten a new sales person’s learning curve. Time is money.
  2. Are you evaluating events to speak at or attend? Your marketing team will be more effective in evaluating the right events to prioritize where the investment is spent if they can efficiently evaluate the event attendees against your ideal target audience.
  3. Messaging. Basic, I know, but really important to make sure your marketing message is revised and refined to speak to the ideal target audience.
  4. Media. Is PR part of your marketing strategy for awareness and credibility? If so, a documented target audience will help your marketing team or your PR agency fine-tune their media list and prioritize the media to target for coverage.
  5. Social media. Directly linked to messaging, but too many companies waste time with an unfocused social media effort. Groups (e.g., LinkedIn)can be a very effective way to dramatically increase awareness and credibility but you need to know who you want to reach for the social media specialists to develop the right content, hash tags and engage with the right groups to attain ROI.
  6. Alignment. This probably should be #1 on the list as having an ideal target audience in someone’s head does not scale. At a minimum sales and marketing (hopefully not the same group nor the same people!) work together to develop the ideal target audience and then revisit and refine with feedback from sales on a periodic basis.

This week we worked with one client to updated their ideal target audience. It had been a year.  It was great to see the progress in how much more we (marketing and sales) know about our ideal target audience in 12 months! The clarity of the refined target audience is already making an impact as we just today passed on an event given the target audience was not aligned with our priorities (time and money savings).  With new sales folks joining the company, this is a great way to help them prioritize their contacts in their iPhones/Rolodexes to help them get started with a targeted sales plan for their territory.

If you have never documented your ideal customer/client, do that first.  In no particular order, write down everything that makes your ideal client ideal. Then convert that list of characteristics (include key parameters including but not limited to geography (if relevant), industry, company type, size, attitude/outlook, needs, title/role) into your first documented ideal target audience. At least annually, review it. I bet you will be amazed at what you learn and how it helps you and your business.  After all, having an ideal target audience is fundamental to building a business on a solid marketing foundation.

 

Assess these 10 Things to Start 2016 Strong for your Business

January 4, 2016

2016-new-year-ss-1920-800x450The first full business week of 2016.  Time to clear out the holiday cobwebs and kick off 2016!  So what will the year bring for you and your business?

 

 

 

 

10 Things to Assess about Your Business to Start 2016 Strong:

  1. Your Customer/Client Base: are you in an acquisition mode, expansion mode or retention mode?
  2. Value proposition: the corner-stone of your company’s marketing foundation.  Is it solid? The 3 C’s of a solid value proposition:  is it clear, compelling and consistent? Do you need to revise/update/enhance for the new year to address competition or logical evolution of what you offer in terms of value?
  3. Target audience: compare your ideal target audience to your existing customer base. What did you learn in 2015 that affects your ideal target audience? How can you better appeal to your ideal target audience in 2016?
  4. Your dream list: is your dream list in good shape going into the new year? Do you have a workable list of clients, prospects and suspects? Do you have a scalable process to manage and update?
  5. Sales Tool Kit by sales stage: what elements in your sales tool kit need to be updated? What elements are used most effectively?  Where are the gaps that sales needs to more effectively move potential sales through the funnel?
  6. Client stories: what successes in 2015 have not been documented? How valuable could these stories be to support your goals in 2016?
  7. New employees: did you have new hires in 2015? Are you planning new hires in 2016? How are these employees being effectively on-boarded to know, understand and represent your brand? Who owns bringing these people onboard other than on the job training?
  8. What went well in 2015 that you need to ensure continues to go well in 2016?
  9. What did not go well in 2015 that you need to fix?
  10. Offerings/Products: any changes/updates to existing offerings? Any planned new offerings this year? What is the timeframe? What needs to be developed and prepared to effectively launch?

The start of a new year is a fresh start. We are bombarded with messages about making resolutions, planning for the new you. As you launch the first full week of the new year, make the time to take a step back, assess the above components that represent key elements of an effective marketing plan.  Use these 10 items to help you organize and prioritize a plan for 2016. Make this a great year for your business.  Make time for marketing. If it is part of your core expertise, leverage it. If it is not, don’t be a DIYer, secure the marketing talent you need to develop and execute a plan to get you to where you want to be in 2016.

Happy new year.  Go get ’em.

The power of empathy

August 26, 2015

Can adults learn empathy?  Mass General believes so and has launched an innovative training program to improve empathy among its doctors. In reading a recent article on this program in the Boston Globe, I was struck by how smart this training is for medical professionals. Mass General has deconstructed the doctor/patient relationship and patient experience to identify critical aspects that affect the overall delivery of their service: patient care.

Most people secure primary care physicians, pediatricians, dentists, oral surgeons, dermatologists and orthodontists from referrals. When it comes to medical specialists, your personal referral network may be significantly smaller and you are likely to rely on your primary care and other medical professionals referrals.  For many of us the ‘day to day’ core medical professionals in our life come from referrals. Think of how critical it is for these practices to have secure, solid relationships with their patients!

So where does empathy fit in?  Mass General has zeroed in on a critical aspect of patient care that many of us subconsciously value and seek in our relationships with doctors, but in some cases may not notice…until there isn’t any. I recently had lunch with a dear friend and colleague and as we covered many topics during our conversation she asked me – who is your primary care doctor? She immediately followed her question with “I hate mine.”  I described my doctor and shared how pragmatic and kind he is. He listens, and then I joked how he told me to never look up symptoms on the web. He commented that I would have myself half buried by researching symptoms online. Just call us or come in and see us he advised. Advice I appreciated and follow.

So the referral trail for my primary care came from my dear friend, Fran, when I first moved back to the Boston area.  She highly recommended him and 15 years later he is still my doctor. I have referred him to my neighbors when they move in from out-of-town and referred him to my nephew who just settled into the Boston area. Next my friend Edith and the referrals will continue!

Empathy is something we as marketers talk about a fair amount with our clients, especially clients in the B to C space. For one client in particular, customer service is a critical differentiator. A periodic training program developed by For Marketing Matters emphasizes the importance of empathy. We use examples of customer interactions to raise the awareness of being empathetic; being sensitive to the customer and how he/she may interpret the information being shared. In this particular case, the dollars being discussed are significant and the training focuses on reminding the sales people that they can become de-sensitized to the cost impact to the customer.

As you think about your industry and customers/clients or patients, here are 3 things to think about as it relates to the unique training that Mass General is doing:

Point 1.  What can you learn about your customer relationship by deconstructing the customer experience into the factors that most affect customer satisfaction (leading to retention and referrals)?

Customer image

Point 2. Once identified, how can you incorporate training or ongoing reinforcement of behaviors to improve one or more of these factors?

Point 3. How can you measure the impact of your investment in time and resources to measure an ROI?

Hey Mother Nature – take this!

March 8, 2015

Mother Nature made her impact.  This is a winter many of us won’t soon forget:  record-breaking cold; record-breaking snow; roof collapses; the MBTA and commuter rail service in Boston struggling to operate. Roads in Southie changed to one-way streets due to the massive snow piles limiting the space for two cars to pass. Let’s face it, Mother Nature has been on a rampage.

Mother Nature making an impactThis winter has had a broad effect on the economy.  Your business may be down because of Mother Nature.  Auto sales were way off in February.  Restaurants have been hit hard due to so many weekend storms and cancelled reservations.  I met with an insurance sales guy last week and he indicated business was down due to so many snow days that made booking and keeping appointments a challenge.

So what do you do as a business owner?

 

How can your business fight back?

Focus.  Plan.  Execute.

The recommendation is not new.  It’s very simple.  Simple to state, but not easy to do.

When we get beat up and business may be down, it may be tempting to get distracted with any new shiny object and get off track.  Don’t!  The key is to get back to basics.  Focus on what’s most important for your business and put together a phased, logical plan and then execute.  This is what any good marketing department or marketing agency should be doing for you.  But, if you are not investing regularly in marketing and instead treating it as a project, that is where you need to make a change.  You are wasting time and money with limited impact.

What should impact look like?

Monthly measurable results.  Just like we measure wind chill and snowfall amounts, measure the impact of your marketing efforts.  If you are not getting detailed, metric-laden marketing reports, you need to evaluate the value you are getting.

Some examples of the impact reported to For Marketing Matters clients in their February Impact reports (return on marketing investment):

Brand:

– New logo with tagline completed for a client; branding standards established; email signatures created for all employees

– New designs and messaging materials developed

Awareness:

– Online reputation management; response to positive and negative postings

– Social media posts, growth, reach

– # blogs written and exposure/reach achieved via these posts

Credibility:

– Customer success stories written and communicated to prospects/clients

– Speaking opportunities secured; award submissions

– # press releases distributed and coverage secured

Leads:

– Total Leads and leads by lead source as compared to target leads needed (client has monthly leads exceeding target so leads are not an issue; converting leads is the issue); # web leads including if prospect has budget approved with majority of leads having urgency of less than 30 days to act. (does your sales team get leads that give you this level of information?)

– New sales tool kit materials completed and available for sales team to use (including this month internal FAQs to help sales consistently and completely respond to questions; two new sets of PowerPoint slides addressing industry standard and opportunity for prospect to earn LEED credits)

– Ideal Target Profiles completed and distributed to sales to enhance targeting and shorten sales cycle

– Detailed website analysis; new web content developed and stats including SEO results and ratings

– Detailed email marketing results with lead reports for sales to act on

 

The above is an overview of the type of impact that we make in a month.  Impact is client-specific, but normally falls into the above categories.    Whatever your priorities, your marketing department or agency should be managing, measuring and reviewing IMPACT with you monthly.  Not activity, but impact. It is important to make that distinction so you as CEO are not wow’d by  activity.  To quote, Joe Friday from Dragnet, “Just the facts ma’am. Just the facts.”

Marketing is an investment and like any investment you should expect a return. If you are looking to fight back and make an impact, start with assess what marketing is doing for you. If your business priorities involve increasing awareness, gaining credibility and building leads then the marketing function plays a critical role. If you are not seeing the monthly impact from your current marketing investment, take a good hard look at what you are doing and who is doing the work.

Don’t let Mother Nature be the only one making measurable impact.

 

Know when to walk away, know when to run!

November 14, 2014

I am not one to quote Kenny Rogers frequently, but boy does this line capture it for me.  Not all business is good business.  Not all revenue is worth it.  We all learn the hard way and with hindsight being 20/20, we commonly look back and think – should have walked away.  So what does this have to do with marketing?

Everything!

A solid business has to start with a solid foundation.  For Marketing Matters has 13 essential elements to be on solid ground and the first two are:

#1.  Define your value proposition.

#2.  Develop your target profile.

If you have completed #2 and I mean documented as clearly as you can EXACTLY who you want to be selling to and working with, then you are in MUCH better shape to assess prospects and decide whether the opportunity is a good match for you and your business.  Congratulations if you have this in place.  Most small and medium-sized businesses skip this step.  Responses include:  Oh, we know that.  Sure, we have done that…. so, I ask them for a copy.  Uh, Oh, it is in our heads.  We don’t have to write it down.

I have a documented target profile and I ignored it.  I was introduced to a business owner, referred by another business owner that I have a lot of respect for and admire.  As a potential source for referrals, I wanted to help his client out and show what FMM can do.

As a marketer, I ignored my target profile, my notes from my initial meeting and my gut. Complete idiot. This business owner did not fit my profile at all.  He is a classic dabbler:  not interested in strategy, just marketing tactics.  His priority was getting an email blast out the door.  He was looking for a silver bullet and I took the bait.  I should have RUN.

Of course, the project (note to self – my business model is NOT to engage in projects, but to earn serving as the outsourced marketing department) had a tight timeframe and details were sketchy.  Again, RUN.  Just this once I will deviate from my core business strategy.  I was referred and I want to deliver.  I left the initial meeting with such clarity of how we could help his business have a clearer, stronger go-to-market plan.  So, I respond with “Sure, we can start with a project.”  In my mind I would still develop some of the core marketing foundational work that he really needed as part of the project and, of course, he will see the benefit.  In my mind, I will help him and it will be all ok.  Doh!  So not true.

To avoid reliving a nightmare of a project, this blog is focused on how you can learn from my stupidity.

Document your target audience.  Don’t skip this step.  This is NOT simply a title and industry.  Dig into the details of what are they like, what is important to you about this company and this individual. My ideal client is MARK.  Not because he is a man, but because he or she wants to make a Mark in this world – they are passionate about what they do and they invest in their business.  They are not dabblers.  They are not do-it-yourselfers.  They are smart, passionate, focused, driven and committed to growing their business.  To do so, they surround themselves with professionals to have the expertise and insight that they need and value.  They are optimists (working with pessimists is a drag for me). They know what they don’t know and they are not nickel and dimers.  I am their partner, not a vendor. They get ‘it’ and they appreciate accountability, hard work, insight and they value results.  They value having a plan to stay on course, but are open to evaluating what is working and what is not.

Once you have this type of target profile clearly defined, convert it into questions to evaluate prospective clients!  Once you have the profile and the associated questions to evaluate prospects, use it.  Be consistent.  I ignored my notes.  Not because I wanted to work with the business owner and his business, but because I wanted to deliver on the referral.  Stupid.

Then leverage your written target profile to help you and others in your company consistently and clearly evaluate prospective business.  Not all business is good business.  Not all revenue is worth it.  Not only will it help you RUN AWAY from potential clients that are not a good fit, it will help you scale your business to have more business development folks evaluating potential business in the same way. Make it part of your sales process.

If you don’t have a target profile developed, get this done.  In the meantime go with your gut.  I know a great marketing company that can help you grow…but you’ll have to fit the ideal target profile!

 

Hey marketers! Stay in the race to prioritize the leads you are generating!

September 26, 2014

The hand-off in a relay is a critical point in the race.  Valuable time can be lost if the baton hand-off is not precise or even worse, the race can be lost if the baton is dropped.

Baton handoff

 

 

 

 

 

 

 

The hand-off of leads from marketing to sales is like the relay race hand-off.  Not only can time be lost, but revenue can be lost.

Ways marketing can help with the hand-off of leads to help sales and sales management (while also helping marketing in its efforts):

1.   Gather information to help qualify the lead.  For example, with a web form, design the submittal form to gather important information that will help ‘qualify’ the lead.  Work with sales to identify desired fields and then balance what is reasonable to ask while keeping the form short.  Example:  For a B to B client, we designed the web form to enable the individual to indicate if budget is approved, timeframe a decision will be made (having pre-defined timeframes set) and enabling files to be attached to the lead to provide further specifications.  Forms can be designed to test layout and number of fields required and option to determine what will work best for your industry.

Know your audience (marketing 101) – give your prospect flexibility; while for one client we would like to gather phone and email, the reality is our target audience is more likely to prefer email over phone.  Knowing that, we do not require a phone number at the risk of receiving no leads vs. leads with less information than is ideal.

Benefit to sales: marketing is handing off leads that have quality indicators that assist them in further qualifying the lead:  budget approved (yes or no), timeframe of need, specification files attached.  Level of detail in the form submitted assist sales in acting on this lead quickly with a focused list of questions.

2. Too many batons…Any other marketers out there frustrated that leads generated are not being followed up on?  Uggh!

Years ago when initially getting started with a particular client, the client acknowledged they lacked leads.  There was NO inbound activity.  The company was solely reliant on its existing customer base with little to no new business being generated.  The sales function was largely an order taking function.  Fast forward, we get the marketing foundation in place, start executing an integrated marketing plan and the tables turn.  Leads are coming in the door and guess what?  Sales is now having a tough time prioritizing and keeping up!  Now leads are not being followed up on and sales is complaining that the volume of inbound leads is too much.

How can marketing help with this challenge?  Stay in the race after handing off the baton.  What I mean by this is, marketing run alongside sales as they work the leads to learn more about what is happening to the leads.  Gather the facts (not hearsay) as to how leads are being assigned, what leads are not good and why, and help contribute to solutions vs. walking away and categorizing the issue as a sales problem.  Gathering facts will help you determine if there is an opportunity to refine the lead generation activities and reduce overall volume while maintaining or improving overall quality.  Running alongside sales will also shed insight into raising the important issue of leads not being worked at all.  As part of the relay team, do your leg of the race well and then support your team members in getting to the finish line strong.

3. Offer insight into Prioritizing Leads

Not all leads are created equal.

Many would argue that prioritizing leads is squarely in the court of sales management and not marketing.  I would agree, except For Marketing Matters’ clients are small and mid-sized businesses.  Organizational structure and responsibilities are not always as defined as we have seen in our corporate experiences.  So while staying in our lane, marketers can provide great insight into working with sales to help prioritize leads.  Specifically, marketing as keeper of the brand has developed the ideal target profile, is aware of and well-versed in entry-level products/services and those that help build a loyal and committed customer.  Marketing offers great insight into what should affect prioritizing a lead.

If there are not parameters in place for prioritizing leads and you as the marketing team are generating leads, develop a straw man to work with sales management to finalize and agree to.  If sales is not working all leads or loses sight of past leads that were important, but are no longer on the radar screen, get a simple yet clear prioritization process in place.  This helps get some leads to  “NO” quicker and helps sales and sales management clearly understand what leads deserve attention and what ones take a backseat.  Not all leads are created equal.  Don’t allocate time equally across leads.

How to get started:  Use a simple prioritization indicator such as A, B, C, D or use 4 star, 3 start, 2 star and 1 star or 1,2,3 or 4.

If prioritizing is an issue and sales is losing sight of where to spend their time, marketing can get this prioritization underway, agreed to and incorporated into pipeline reporting.  This helps marketing show the quality of leads that they are generating and it helps sales learn how to allocate their time and sales management can mange the pipeline and coach to this prioritization.  With an agreed to prioritization, you can also address head with facts the quality of the leads being generated by marketing and by sales as all leads should be prioritized in the same manner no matter the source.

 

The revenue generating engine in any company includes marketing and sales.  Instead of throwing leads over the fence, handoff the leads and then stay in the race to monitor, learn, and refine.  Marketers should be an active participant in generating revenue.  Then when the baton comes back to marketing for lead generation, you are in better shape to run your leg well and greatly contribute to overall success.