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Marketing is a waste of time – focus on business development
 

Marketing is a waste of time – focus on business development

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Presentation delivered at SageSummit 2012.

Presentation delivered at SageSummit 2012.

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  • The basic theory we are operating on is that interruption based marketing is ineffective. People are either becoming immune or using technology to block out the interruptions. In order to be effective, we must move from interruption based marketing, to a world of permission based marketing and marketing that helps us “get found” by the people who need us when they need us.
  • Sometimes “old” marketing is referred to as outbound marketing.Inbound marketing uses many the tools we think of when we think of social media marketing
  • They next is understanding why you do what you. (Explain the golden circle…) We know what we do. And we can often describe how we do it. What most of us are pretty bad at is explaining why we do it.Why do I do what I do? Because I cringe when I see business people make decisions that waste their money on marketing in the hopes of growing their business. I want to help them succeed.Why does IBM do what it does – I think its because Thomas Watson wanted to help shape the world and solve its problems through applying the basic principle that we have to stop and think.
  • So, I want to pause for 30 seconds – and trust me, that will feel much longer for me, than for you. But I want you to take the IBM motto to heart here and take the next 30 seconds and Think.Think about why you do what you do – remember – its not to make money – that’s a goal. A scorecard. Everyday you get out of bed. Most days you go to work. Why do you do what you do.The 30 seconds start now.
  • Clive Chang was born in Hong Kong, raised in Toronto, and currently lives in New York City, Clive began piano lessons at the age of five.When asked the question "Tell me, what is it you plan to do with your one wild and precious life?” His answer wasI will create. That is his what.His why is on the sign here – and if you can’t read it, it says “So that Little Girl in the audience leaves the theater inspired to express herself:His why is to inspire others. 
  • So when we have figured out who we really are and why we do what we do. The next question is who this matters to. It will very much matter to those who believe what you believe. And in that lies your ideal customer. Your ideal prospect. The person that you should be talking to over the social channels.You’ll know some of them, but over time, if you are being successful, you’ll personally know fewer and fewer. So you need to define who they are for yourself.I define an ideal customer as someone who has the following:They find value in working with me – they believe what I believeThey are profitable to work with. And they refer me. Its that simple.Now what do they look like? What do they read? Where do they hang out? The way I figure that out is to look at the current customers I have that fit those 3 criteria, and see how they are similar.Its not hard – it just requires you to stop, think and act.
  • This slide needs to transition from foundation to building the marketing machine
  • When we talk about content there are two elements. The first one is content that builds trust. You have to commit to putting content out there. And the easiest way to do it is writing a blog, just answering the questions that your customers ask. For instance, building social media profiles and working on your search engine optimization. One of the easiest ways to do that is by networking with other bloggers, by putting this content out there so you get backlinks, by producing content that the search engines like, by actually stimulating reviews on some of the review sites like Yelp, Insider Pages, and Google Maps. Find customers that are happy and getting them to, maybe, do video testimonials or even written testimonials.That type of content, all collected and used as part of your web presence, is the stuff that builds trust. It is the stuff that shows proof that your customers like you. It's the stuff that the search engines find.So when people are out there searching for a product or service like yours or when somebody refers you, one of the first things people do is they go online and search. You've got to fill in that gap and make sure that you can be found and be found in volume and in positive ways.
  • The second kind of content is designed to educate once somebody does know you, once somebody does find you. What can you do, then, to move them to the try and the buy stages? So that can be your sales presentations, it can be white papers, how‑tos, it can be webinars. Certainly all of the questions that people ask you, collecting those.Having a process where you can actually educate your referral sources on who makes a good lead for you, how to introduce your firm, the actual trigger phrases that your prospects use that would let somebody know, "Yes, that's somebody I should refer."Actually teach them what your marketing process is. Or, at least, show them, step by step, "Here's what we do when you give us a referral." All of this kind of content makes it easier for people to refer you, makes it something that is a process and systematic approach and keeps you top of mind. It has to be part of it.
  • Here's what most companies and marketing people do. Most people look at this idea of the marketing funnel or the marketing hourglass and they go and get a telemarketing list or they go place their ads. So they get people to know about their products or their services and then try to drive them to buy. Now, the problem with this process is that sometimes it works.But it does is it doesn't allow you to build momentum, to generate a sustainable pipeline that is always contributing to your revenue.We really believe that there is an element of educationin attracting the right customer. (SYMS). <> This education is done in a series of progressions ending with a purchase Of course, once that happens you immediately have processes to help them understand the value they've received, to help them understand what else you do, to introduce them to your strategic partners, and certainly to turn them into referral sources, as well as repeat buyers.But if you sell a product or service that has any complexity to the sales cycle and is not an immediate go/no go type of purchase, you have to fill the gap between Know and Buy with products or with processes. This is what nurture marketing does. It provides you with a predictable, schedule process that helps move your prospects through the cycle
  • Finally, we talked about early on, but consistency is key - In today's rapidly changing world, consistency is extremely important to your business reputation. The way your people dress (if they out with customers or prospects), the way you answer the phone, your email signature, your service level and your product quality.  As consumers - either personally or as a representative of our business - we want things we can count on.  Make sure you can be counted on.
  • Newsletters are tried and true, but they are passive. Many people default to these, but done to often, they become ignored – best to do quarterly and make it mean more – I’ll give you a sample Table of Contents shortly.Telenurturing is also pretty traditional – having a telemarketing or even your sales people calling on a regular basis. This is best used sparingly – a call to say “are you ready to do something now” is not nurturing – its bugging. So if you are going to use tele, it is best to be able to present a value or offer in conjunction with the callWebinars work for a lot of businesses – they give you a way to communicate information in a live or recorded fashion and they make the prospect engage more activelyAnd 1:1 value offers – things like an audit or evaluation – we’ll hit a few more ideas shortlyI say these are core tactics because these 4 methods really mix delivery and engagement level – email, seminars, direct mail and outbound calling. So voice, visual, reading and listening.
  • Offers are a great way to establish like and trust. Look at how a prospective client is doing something and offer best practices

Marketing is a waste of time – focus on business development Marketing is a waste of time – focus on business development Presentation Transcript

  • Marke&ng  is  a  Waste  of  Time  –  Focus  on  Business  Development    
  • Agenda   •  Introduc&ons   •  Today’s  Business  Development  Environment   •  The  Perfect  System   •  Star&ng  with  a  strong  founda&on   •  AErac&on   •  Approaching  New  Clients   •  Crea&ng  a  perpetual  flywheel   •  Managing  it  all    
  • Who  is  this  Dan  Kraus  guy?   •  25  year  sales  &  marke&ng  veteran     –  9+  years  with  Great  Plains  SoQware  (‘89-­‐’98)   –  6+  years  with  SAP  (‘03-­‐’09)   –  Allaire   –  Macromedia   –  Infinium  SoQware   –  ADP,  Con&nental  Cable  (Comcast)   •  Founded  3  companies   •  UMASS  Amherst,  Marke&ng   View slide
  • Leading  Results  Overview   •  Instructors  for  the  Sage  Marke&ng  Academy   •  Marke&ng  services  firm  –  coaching  and  consul&ng     »  1:1  Coaching,  Group  Coaching   »  Frac&onal  VP  of  Marke&ng   »  Social  Media  Coaching  and  Learning   »  Referral  Marke&ng  Coaching  and  Classes   •  Authorized  Duct  Tape  Marke&ng  coaches   •  Offices  in  CharloEe,  Boston,  Philadelphia,  So.  Cal.   •  Clients  throughout  North  America   •  We  help  our  clients  stop  was&ng  money  on  marke&ng  that   does  not  create  results   View slide
  • Leading  Results  Core  Marke&ng  Mantra   •  Dont  talk  about  the  products  you  sell;  talk   about  the  problems  you  solve.       •  Then  talk  about  the  remarkably  different  way   that  I  will  experience  working  with  you  as  you   solve  those  problems.     •  Be  sure  you  tell  me  what  I  get;  NOT  what  you   do.    Because  I  dont  have  &me  to  figure  out  if   what  I  need  is  what  you  do.    
  • 77! 7 SEVEN! VII SOURCE: edwardboches, chief creative officer, chief social media officer at Mullen
  • customers want more participation and even control
  • relationships with media are more complex than ever
  • we want to do business with a person
  • expectations are higher
  • there’s no such thing as perfect
  • attention is the new scarcity
  • the MP3 is good enough
  • What  this  means…   Interrup&on  doesn’t  work  anymore;      -­‐  I  want  to  find  you  when  I  need  you    -­‐  I  want  you  to  work  my  way    -­‐  I  will  always  have  other  op&ons  
  • Business  Development  has  fundamentally  changed!   From:  Marke+ng  and   To:  Educa+ng  and   Selling   Assis+ng   Print  Ads   Blogs,  e-­‐books,    white  papers   Radio  Ads   Podcasts   Television  Ads   Videos   Tradeshows   Webinars   Cold  Calling   Search  Engine  Op&miza&on   E-­‐mail  Blasts   RSS,  Feeds  
  • Defini&on  of  Business  Development  Know   Like   Trust   TRY   Buy   Repeat   Refer  
  • Business  Development  (in  the  new  world)   isn’t  hard,  but  it  is  complicated  
  • Business has only two functions -- marketing and innovation. - Peter Drucker
  • Business  Development  is  your   Company  System   1.   Strategy  before  tac&cs   2.   Fill  your  hourglass   3.   Publish  educa&onal  content   4.   Create  a  total  web  presence     5.   Use  a  lead  genera&on  trio   6.   Selling  Transformed  to  Assist   7.   Live  by  the  calendar    
  • The Perfect Prospects  Can  Find   You   Business Happy  customers   Valuable  content  Development and  partners  refer   new  prospects   drives  interac&on   System Exis&ng  customer   Engagement  with   marke&ng  drive   prospects   repeat  purchases     Some  Nurture   Some  Prospects   Prospects  Buy   Buy   Nurture  Programs   for  those  who   don’t   Founda&on  
  • The Perfect Business Development System Prerequisites: •  Clear Messaging •  Consistent Shared Purpose •  Defined Ideal Customer Profile •  CRM System Integrated with •  Website •  Email Marketing Engine •  Customer Service Systems incl. Phone
  • Digital  Flywheel   Prospects  Can  Find   You   Blog   Happy  customers   Valuable  content   and  partners  refer   drives  interac&on   new  prospects   Facebook   LinkedIN   Fan  Page   Exis&ng  customer   marke&ng  drive   Web   Engagement  with   repeat  purchases   PR   Site   prospects   2-­‐Step   Mktg   Some  Nurture   Some  Prospects   Prospects  BOutbound     uy   TwiEer   Buy   Nurture  Programs   for  those  who   don’t  
  • Strategy  before  tac&cs  (founda&on)     •  Define your Purpose •  Narrow your focus •  Differentiate and dominate
  • Define  your  Purpose    
  • Get  to  the  Y  
  • Narrow  your  focus    
  • What  is  ideal?   • Values you •  Profitable •  Refers  
  • Ideal  customer   •  Demographics •  Psychographics •  Geographics •  Behavior  
  • Differen&ate  and  they’ll  flock  to  you  
  • AErac&on  through  Differen&a&on   •  To  a  prospec&ve  customer,  it  is  not:   »  Great  service   •  They  haven’t  worked  with  you  yet   »  Length  of  &me  in  business   •  But  it  might  be  similar  customers  you’ve  served  over  all   those  years   »  How  well  trained  your  staff  is   •  Cer&fica&ons  &  training  are  the  entry  &cket  
  • What  people  really  buy?     •  Your unique product/service •  Your unique process •  Your unique experience •  Your unique people •  Your unique guarantee •  Your unique packaging/delivery …..Against a problem Its not about the products you sell, its about the problems you solve!
  • How  do  you  differen&ate  ?   Yes Not
  • Ask  Your  Ideal  Customers…   •  What  made  you  decide  to  hire  us?   •  What  was  the  biggest  problem  we  solved?   •  What  that  we  do  is  of  the  most  value?     •  What’s  one  thing  we  do  beEer?   •  What  could  we  do  beEer?   •  What  would  you  Google?   •  Would  you  refer  us  (and  what  do  you  say)?   ….What  themes  emerge?  
  • Goal  –  A  new  way  to   express  your  value  to  your   ideal  client  
  • The  founda&on  is  built...   •  You  know  why  you  are  in  business   •  You  have  a  difference  you  can  talk  about  that   maEers  to  your  ideal  customer   •  You  understand  the  problems  you  solve  for   your  ideal  customers   •  You  care  about  repeat  customers  
  • Now  to  build  the  system…   Prospects  Can  Find   You   Happy  customers   Valuable  content   and  partners  refer   drives  interac&on   new  prospects   Exis&ng  customer   Engagement  with   marke&ng  drive   prospects   repeat  purchases     Some  Nurture   Some  Prospects   Prospects  Buy   Buy   Nurture  Programs   for  those  who   don’t  
  • Defini&ons  for  Business  Development   •  Net  New  Prospects   »  Outreach  to  a  prospect  you  have  never  had  a  “conversa&on”   with     •  Nurture   »  Regular  outreach  to  prospects  you  have  had  a  “conversa&on”   with   •  Current  Customer   »  Outreach  to  customers  who  have  spent  money  with  you  before   •  Referral  Marke&ng   »  Gesng  a  name  and  introduc&on  (implied  or  real)  from  another   that  has  a  trusted  rela&onship  with  both  par&es   •  PR  &  Community   »  Press  or  speaking  ac&vi&es  that  get  your  name  in  the  public   domain  
  • Hourglass   Know   Like   Trust   Try   Buy   Repeat   Refer  
  • Hourglass  &  Program  Types   Know   Net  New   Like   Nurture   Trust   Try   PR  &  Community   Buy   Repeat   Current  Customer   Refer   Referral  
  • Hourglass  &  Program  Types   Know   Net  New   Like   Nurture   Trust   Try   PR  &  Community   Buy   Repeat   Current  Customer   Refer   Referral  
  • Trial   Know   Net  New   Like   Nurture   Trust   Try   Try   PR  &  Community   Buy   Repeat   Current  Customer   Refer   Referral  
  • The  product/service  mix  strategy   •  What  is  your  free  or  trial  offering?   »  It  is  going  to  happen  (like  it  or  not)   »  Be  prepared   »  Think  services,  not  products  
  • Step  1  –  Helping  prospects  find  you   •  Net  new  lead  genera&on   •  Gesng  found  via  search   •  Referral  through  Alliance  Partners  
  • Getting Found = Valued Content•  You need materials that Educate•  The problems you solve, packaged for consumption
  • Content that builds trust•  Reviews•  Testimonials•  Personality•  Social media•  SEO oriented
  • Content that educates•  White papers•  Webinars•  FAQs•  Success stories•  About You
  • If you thinks its all about content…
  • Next  -­‐  Nurture  Your  Prospects   •  You’ve  been  found   •  You’ve  educated   •  Some  have  bought   ….  What  do  we  do  with  the  ones  that  didn’t?  
  • Why  Nurture  Ac&vi&es  Are  So  Important   Know   • Who  and  how   • Ads   • Referrals   Like   • Web  site/blog   • Recep&on   • NewsleEer   Trust   • Search   • Expert  content   • Sales  presenta&on   Try   • Webinar   • Evalua&on   • Nurturing   Buy   • Service  team   • New  customer  kit   • Finance/delivery   Repeat   • Post  project  survey   • Cross  selling   • Quarterly  events   Refer   • Results  reviews   • Partner  intros   • Peer2peer  events   ©  Duct  Tape  Marke.ng  –  all  rights  reserved  
  • Consistency  Counts   How  oQen?   •  Once  a  month  (average)  BUT   Vary  the  approach  
  • Varied  Tac&cs  and  Delivery   Core  Tac&cs   •  NewsleEers   •  Conversa&ons  (phone  &  F2F)   •  Webinars     •  1:1  Value  Offers    
  • 1:1  Offers   •  Audits     •  Evalua&ons   •  Quotes   •  Custom  reports  or  analysis     •  Market  Comparison  
  • Exis+ng  Customers  –  buy  again  &  refer   •  Create  customer  delight   •  Systema&cally  gather  and  track  informa&on   •  Communicate  regularly   •  Treat  customers  as  good  or  beEer  than   prospects   •  Follow-­‐up  
  • Get  the  flywheel  going…   Prospects  Can  Find   You   Blog   Happy  customers   Valuable  content   and  partners  refer   drives  interac&on   new  prospects   Facebook   LinkedIN   Fan  Page   Exis&ng  customer   marke&ng  drive   Web   Engagement  with   repeat  purchases   PR   Site   prospects   2-­‐Step   Ads   Some  Nurture   Some  Prospects   Prospects  BOutbound     uy   TwiEer   Buy   Nurture  Programs   for  those  who   don’t  
  • Manage  the  Beast   Again…  This  isn’t  hard,  but  it  is  complicated  
  • #1  Fill  the  Hourglass   Know   • Ar&cles  you  have  wriEen  or  find  valuable   • Paid  Marke&ng  (2  step)   • Referrals   Like   • Web  site  &  Social  Media   • Response/recep&on/voicemail   • NewsleEer   Trust   • Marke&ng  kit   • Value  added  content   • Tes&monials  &  Videos   Try   • Services   • Detailed  Evalua&on   • “Small”  Products   Buy   • Service  team   • New  customer  kit   • Finance/delivery   Repeat   • Post  project  survey   • Cross  selling   • Quarterly  events   Refer   • Results  reviews   • Joint  marke&ng  introduc&ons   • Peer2peer  events   ©  Duct  Tape  Marke.ng  –  all  rights  reserved  
  • #2  –  What  are  You  Talking  About?   •  What  problems  do  you  solve?   •  What  do  you  do  REMARKABLY  well?   •  What  do  your  customers  and  prospects  really   care  about?   Set up 4 or 5 Themes
  • #3  –  Create  Time  &  Space   •  You  have  to  create  &me/ resources  for  business   development   »  Block  an  hour  a  day   »  Hire  someone   »  Recognize  you  can’t  do   everything  at  once  and  set   goals   »  Ac&on  begets  ac&vity  
  • #4  -­‐  Use  a  calendar  
  • Live  by  the  Calendar   •  Quarterly  or  Monthly  themes   •  Weekly  ac&ons  &  Deadlines   •  Daily  appointments  
  • Summary   •  Build  a  strong  founda&on   »  Core  messaging,  ideal  customer,  why  you  are  in   business   •  Content  is  KING   •  Know-­‐Like-­‐Trust-­‐Try-­‐Buy-­‐Repeat-­‐Refer   »  It  is  a  process  –  a  BUYING  process   •  Social  Media  is  a  amplfier/flywheel   •  You  need  a  system  to  manage  it  consistently  
  • Result   Ultimately, an effective system eliminates the need to compete on price. Offer  #1     Complete  the  evalua&on,   get  the  slides  
  • Offer  #2   •  Hour  Glass  Audit   »  You  complete  our  ques&onnaire   »  We  spend  an  hour  or  so  with  you  to   review  your  approach  against  the  Hour   Glass   »  We’ll  provide  you  with  a  blank  copy  of   this  calendar  template     Check  the  box  for  the  free  45  minute  business   evalua.on    
  • We help small businesses stop wasting money on marketing Thank  You  &  Ques+ons   Please  take  a  moment  to  complete  the  post   presenta&on  evalua&on   Contact UsWeb: www.leadingresults.comEmail: info@LeadingResults.comPhone: 888-717-1715Twitter: @LeadingResults ; @LauraBLorenzFaceBook: facebook.com/leadingresults