The iconic pop song of the 80’s explains the shift in marketing and sales perfectly. New technology killed the former king, and in todays age we have seen this play out in our sale and marketing roles. The former king of revenue generation for any business is now only 20% of their former glory. In our modern world of limitless information, easy access, and instant feedback 80% of the buying cycle will be in the hands of marketers by 2020. Learning how to deal with the shifts from the 10/90 sales and marketing mix to the new 80/20 marketing and sales mix takes a new set of foundations, fresh approaches to selling, and deeper understanding of the new consumer. Join Mathew as he walks us through the new tenets of sales and marketing, the new roles we must fill, and better practices for converting your department into the revenue machine of the future.
5. @msweezey!
The Environment
Business: Use media to
consume information
and to publish
information. ey are
reactionary to the
consumer.
Media: Is the medium
for communication
between all parties in
the environment.
Consumers: Are the
ones who obtain
information from media
to fulfill their needs.
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DIGITAL DISCOVERYA person uses more computing
power to do a search on Google,
than all of NASA had in 1969,
when they landed a man on the
moon.
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Media
UBIQUITYAnyone in the world can create, distribute, and
consume content. ere are more people in the
world with a cell phone, than there are those with
clean drinking water, or electricity.
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Media Changes
culturese written word destroyed the oral society, and
brought with language, math, and documented
history. Gutenberg democratized writing, and the
internet combined with mobility has changed us
once again.
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Oral Society
Transformed
By Gutenberg
Press. Creates a
world of literacy.
Radio brings
news to the
world.
Allows for news to
spread faster, and
changes the face of
warfare.
Television creates
a visual society.
Changes politics, culture,
and the basis of how we
perceive each other.
Internet connects
the world in real
time.
Creates a global society
which breaks down the
visual barriers and creates
a new economy.
Social media and
increased
connectivity creates
an instant always on
society which changes
our communication
once again.
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Daily content consumption. Usually is Learn,
and Escape. Happens across all media channels.
How we engage with Research content.
Batch Research Defined
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71% of B2B buyers have been
disappointed by content
-Pardot research 2013
71% Of B2B Buyers Have
been disappointed with
content
-Pardot Research Report 2013
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71% of B2B buyers have been
disappointed by content
-Pardot research 2013
25% Of them will never
engage with your
content again
-Pardot Research Report 2013
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Media Made money Because they
owned the relationship. Not because
they mass published media.
We should learn…..
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Relationships:Are built over a long time. ey require
a net positive interaction to sustain and
grow. ey require relevant
communication at all times. If not the
relationship is damaged.
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Marketing ≥
Build > Sell
Infinite environment demands…
20% of efforts80% of efforts are now
Relationship building.
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Tenants of the 80/20
business
Most of the mobile media
about our business isn’t
created by us.
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Infinite mobile media means a
strategy must begin with a
holistic mindset
Relationships are more
than Just what you say
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MindsetEveryone in the organization understands everything they do will end up online.
Services will receive tweets, product will receive reviews, and sales will be talked
about. Everyone must understand the net positive effects of their actions.
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Mindset is an organizational
discipline, branding is a
departmental execution.
Mindset > Branding
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Volatility is the result of both negative and positive
experiences. After a negative experience the only way to drive
positive experience is to spend more money because the trust
has eroded.
Volatility
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1000’s of marketing
channels, 24/7 with
out you being involvede question is how do you make sure content
related to your brand is maintaining the best
possible experience?
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Traditional branding is ineffective
because it is unsustainable to think a
single department can manage your
brand in the infinite media
environment.
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Creating Mindset
- What do we value in an employee
- What do we value in a customer
- What do we call success
Everyone in the company should be able to answer these three questions
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Nobody says
“I want content”ey decide engage with content to solve
goals, they engage with it because it aligns
with their purpose
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-Jay Baer, Author of Youtility,
“
“
Historically, we created
relationships and loyalty with
people, but now we're creating
relationships and loyalty with
information.
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“Consumers want
honest and authentic
experiences”
-Joseph Pine II
Author of the Experience Economy,
Authenticity, & Infinite Possibilities
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more often than they do
those that simply urge them
to buy the product being
advertised. As a result, their
path to purchase is actually
their path to purpose.
Consumers choose the
brands that engage them
on their passions and
interests
42%PathtoPurpose
-Google THINK
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EscapePeople wanting to escape will lean on self
discover and social channels. ey are
looking to escape their work, life, job, and
take a short break. No barring on sales
readiness.
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LearnPeople wanting to learn are
looking on ways to be better at
what they care about. is can also
take place during an escape. May
be an early sign of sales readiness if
they move to research.
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SeekPeople wanting to seek will
dedicate time to search, learn, and
solve. ey are looking for content
to help them fulfill purpose, or
solve a problem.
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“Our end goal is to present the
customer with content that is relevant,
not invasive”
-Kimberly Ruthenbeck, Director of Web
Customer Experience for Room & Board
“
“
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Marketing now knows every interaction
they company has had with the person
across external sources. Other data
sources can be added into know what
is relevant to a person based on their
digital fingerprints.
Every channel has the ability to read
and write to this record so in the future
every conversation in enabled to be
relevance. These conversations are
also used to trigger automated
content based on rule sets set up by
the business.
External View Internal View
Must have this first!
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Automations Scale relevance
Automations allow
for owned media
properties to be
“Zero Click”.
Making them
infinitely relevant.
Automations allow
for distributed
media to be
dynamically shown
to the correct
people, at the
correct time.
Automations allow
for hot leads to be
identified and
passed to sales
instantly.
Automations allow
for leads to be
nurtured over full
lifecycle.
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Achieved a 30% reduction in sales cycle length in their industrial storage
business within one year, and another 25% reduction in two years with
the use lifecycle marketing and relevant automations.
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The power of Infinite
Creativity
Creativity moves past colors,
into the sub conscious, and
data science.
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Creativity
Left Brain
Bernay’s created the idea of Public
Relations after learning from his uncle
Sigmon Freud the power of the
unconscious mind. He create a new form
of strategic marketing which still exists to
this day. is is our guide.
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Shared Value + Shared Action = Shared Profit
People want to
rebuild Braddock
PA. Levi wants to
have people associate
their clothes with
work again.
Levi puts money, and
hires a company to
coordinate
community events to
rebuild Braddock.
People pitch in, and
suggest projects, and
execute them.
ey both profit
from a better
community, which
got back to working
again.
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“When you se people voting up your answer or
adding their own replies in real time it makes
you realize there’s a good group of people reading
your stuff. I don’t get that immediate rush on my
blog”
-Robert Scoble,
Futurist and Social Media icon
“
“
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e new sales model:
Marketing
Functions
Digital Rapport building, lead generation Customer
acquisition
80% 20%
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the new middle
e majority of the modern revenue engine is
effectively finding, and building relationships. People
can use new tools to do this in a hyper targeted 1-1
way, which can be aided by and accelerate by marketing
efforts.
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Marin Software has seen a 646%increase in
the number of qualified contacts, by focusing on
digital rapport building, and by effectively using
the “System of Relevance” model.
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Supporting roles
It will depend on the company as to is the middle
supporting marketing, or is marketing supporting the
middle. Either way a new compensation has to happen.
Sales can no longer receive 100% of the commissions
for only doing 20% of the work.
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Provides bonuses to the middle team on hitting
pipeline contribution goals (about 80% of bonus)
and MRR (about 20%)
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Bill (CMO) said their goals is, will someone
recommend Slack? “And that’s a much higher bar.”
is is why they use Net Promoter Score in their
sales compensation metrics, not just closed/won.
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Raphus cucullatus
Don’t be a
Dodo…..
Realize the environment
we operate in requires
large shifts in our business
strategy. We have not seen
a change like this in over
100 years in our
departments so this won’t
be easy, but there is only
one alternative.