Product / Industry Marketing 2.0


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Describes how product / industry marketing must evolve to ensure marketing effectiveness, i.e. sales and marketing success, in an increasingly crowded marketplace. Content is based upon my personal insight, marketing a range of high tech. product products and services, for a number of companies across the TMT sector.

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Product / Industry Marketing 2.0

  1. 1. Product / Industry Marketing 2.0<br />New approach to product / industry marketing, ensuring future sales success, in an increasingly congested and challenging marketplace<br />
  2. 2. Its getting tougher to succeed!<br />Look how much we save you £££ <br />Me To!<br />Me To!<br />Harder to differentiate<br />Me To!<br />Me To!<br />Me To!<br />In today’s highly connected world, there’s rapid convergence of market intelligence & customer insight, any category quickly becomes crowded with competitors making similar claims.<br />Harder to communicate<br />The daily bombardment of marketing messages in all aspects of today’s world is creating message fatigue and active avoidance and filtering out of your best efforts<br />Copyright © 2011 Jeremy Spencer<br />Slide 2 of 13<br />
  3. 3. Implications<br />“Business is working harder and paying more to pursue people who are trying to <br /> watch and listen less to its messages.” ...... Keller & Berry, The Influentials<br />Marketing ROI & sales success under threat like never before<br />Need<br />Greater Efficiency <br />(doing things well) <br />AND<br />Greater Effectiveness <br />(doing the right things)<br />Copyright © 2011 Jeremy Spencer<br />Slide 3 of 13<br />
  4. 4. Effectiveness is the big opportunity<br />Many organisations are up & running on efficiency gains, from inside sales & digital marketing, but……<br />For these channels to deliver, they need:<br />Differentiated, compelling value propositions, i.e. the Right Messaging<br />Integration with other supporting elements of the overall sales and marketing mix, i.e. the Right Go To Market Strategy<br />Get it wrong and you just create a lot of leads that sit at the top of the sales pipeline, going no where<br />The right messaging, with the right go to market strategy, make efficient marketing channels effective, ensuring more leads turn into revenue, yet…..<br />Issue of effectiveness is still at the starting line, (can you name one activity you’ve done specifically to address marketing effectiveness?)<br />Efficiency<br />Getting messaging and go to market strategy right, ignites sales & marketing channels, maximising marketing effectiveness <br />Effectiveness<br />Copyright © 2011 Jeremy Spencer<br />Slide 4 of 13<br />
  5. 5. Common Areas of In-effectiveness<br />In-appropriate channels,<br />Targeting in-correctly<br />In-appropriate communications mix deployed, that doesn’t reflect the particular sales process – one size doesn’t fit all!<br />In practice, sales tools and materials don’t reflect the needs of the actual sales process<br />Lack of compelling, differentiated messaging<br />Those with the agency relationship not category SMEs, limiting effectiveness of agency briefings<br />Messaging not in tune with customer’s perspective / language<br />SME = Subject Matter Expert<br />Copyright © 2011 Jeremy Spencer<br />Slide 5 of 13<br />
  6. 6. Product / industry marketing is key to effectiveness<br />Integrated go to market plan, tying together target customers, engagement strategy , marketing tactics & proposition. Ensures alignment attacking most attractive & susceptible<br />Integrated go to market plan, tying together target customers, engagement strategy , marketing tactics & proposition. Ensures marketing tactics aid the sales process needed<br />Combine creative “big idea” with integrated value matrix , linking features to benefits to financial value analysis, differentiation and ROI<br />Sales enablement process aligned with go to market plan & sales reality, not theory.<br />Product / <br />Industry <br />Marketing<br />Complement marketing brand guidance with real market , customer and proposition insight to brief agency effectively<br />Bring together insight from market, customers, partners, analysts and sales to guide the creation of the “big ides”<br />Copyright © 2011 Jeremy Spencer<br />Slide 6 of 13<br />
  7. 7. Challenges of practical reality<br /><ul><li>You know the importance of customer understanding - Business drivers , purchase behaviour, pre/post sale needs, etc. </li></ul>BUT<br /><ul><li>In reality, your view of the world takes over, i.e. your starting point is not the customer but your product/solution and your existing sales & marketing approach – customer needs become retro-fitted </li></ul>i.e.<br />“the cart ends up before the horse” <br />RESULTING IN<br />Flawed go to market strategy<br /><ul><li>Go to market plan defaults to existing sales channel structures and existing marketing mechanisms
  8. 8. Wrong skill sets pitching to in-effective contact levels and unlikely / unmotivated purchasers
  9. 9. Poor lead quality exacerbating sales in-effectiveness
  10. 10. Generate a lot of interest that sits at the top of the sales funnel without moving, soaking up resource</li></ul>Flawed product / industry marketing<br /><ul><li>Start with solution / product features and benefits
  11. 11. Go to market theme doesn’t resonate with customer language and key purchase criteria
  12. 12. Benefit messages don’t differentiate solution offering
  13. 13. Customer’s struggle to justify investing in your solution</li></ul>Copyright © 2011 Jeremy Spencer<br />Slide 7 of 13<br />
  14. 14. Ensuring Future Sales & Marketing Success<br />Overcoming practical challenges and responding to a tougher marketplace, means today’s typical product marketing focus, needs to expand<br />Today’s Focus<br />Expansion Opportunities<br />Category Expertise<br /><ul><li>Market
  15. 15. Solution’s features, benefits & applications</li></ul>Value Expertise<br /><ul><li>Financial value drivers mapped to critical business drivers
  16. 16. Differentiation / competitive positioning</li></ul>Sales Enablement<br /><ul><li>Tools / materials
  17. 17. Training</li></ul>Marketing Enablement<br /><ul><li>Integrated communication tactics
  18. 18. Well briefed creative processes</li></ul>Solution Centric <br /><ul><li>Starting point is internal with solution
  19. 19. Map features and benefits to perceived customer needs</li></ul>Customer Centric<br /><ul><li>Starting point is external with customer’s strategic agenda
  20. 20. Map customer needs to solution offering</li></ul>Requires additional skills and experiences….<br />Copyright © 2011 Jeremy Spencer<br />Slide 8 of 13<br />
  21. 21. Recipe for Successful Product / Industry Marketing<br />Sales Experience<br />Credibility, knowledge & empathy to drive an effective go to market attack plan, marrying most susceptible target customers with current sales relationships and capabilities.<br />In an ever increasingly crowded marketplace you need a product / industry marketer that can lift your sales and marketing above the competition. This requires, a marketer with :<br /><ul><li>Sales experience
  22. 22. Field marketing experience
  23. 23. Creative vision
  24. 24. Financial analytical skill</li></ul>Product / Industry Marketing 2.0<br />Field Marketing Experience<br />Creative Vision<br />Appreciation, awareness to drive a creative process that creates the “big idea” go to market themes that will resonate with and motivate target audiences. <br />Credibility, knowledge & empathy to drive an effective comms plan, aligned to sales activities / process, to create an integrated go to market effort.<br />Financial Analysis<br />Financial modelling skills to build business case models and integrated value matrix that maps customer strategic agenda to features, benefits, value driver, differentiators and ROI.<br />Contact author for examples:<br /><br />Copyright © 2011 Jeremy Spencer<br />Slide 9 of 13<br />
  25. 25. Appendix<br />More detailed descriptions of the attributes that deliver product marketing success<br />Copyright © 2011 Jeremy Spencer<br />Slide 10 of 13<br />
  26. 26. Successful Product/Industry Marketing #1<br />Certain key attributes required, for Product / Industry Marketing to drive marketing effectiveness, in today’s changing marketing landscape :<br />Situation<br />Change Needed<br />Copyright © 2011 Jeremy Spencer<br />Slide 11 of 13<br />
  27. 27. Successful Product/Industry Marketing #2<br />Situation<br />Change Needed<br />Copyright © 2011 Jeremy Spencer<br />Slide 12 of 13<br />
  28. 28. Successful Product/Industry Marketing #3<br />Situation<br />Change Needed<br />Copyright © 2011 Jeremy Spencer<br />Slide 13 of 13<br />