Land mine #1 Marketing,Sales…what’s the difference?
Marketing…Sales…Which department matters most in a company? Marketing or Sales… ‘What comes first? The chicken or the egg?’
Marketing…Sales… Marketers need to have sold something to be effective in marketing!Marketers must understand the pain of trying to ‘make the sale’! Selling isn’t easy!
Marketing…Sales… Sales disciplineSales’ ability to reach sales targets established in the Business plan – Imperative.Account Managers go through consistent prospecting process till a sale is made.
Marketing…Sales… Day to Day Plan 0930 – 1030 Account Managers starting their day early, on time to do Telephone calls Returning phone calls of previous day Leads generated internally Cold calls to prospects Confirm presentations booked by other team members Call on new contact developed within existing clients Follow up on Direct mail programGoal: Book a meeting even if it short in nature. The AM does not try to sell products/services over the phone. 1030 – 1230 Customer meetings either booked or “in the neighborhood” calls to existing clients. 1230 – 1300 Lunch 1300 – 1600 Customer meetings 1600 – 1900 Returning phone call messages on same day Leads generated internally. Follow up on Direct mail program. Cold calls to prospects Confirm presentations Call on new contacts provided by Marketing leads or Customer Service.
Marketing…Sales…AM starts effective after approximately 1 ½ years of selling. • know your customers, • learn the tricks of the trade, • avoid mistakes, • focused on customer needs, • expert at ‘closing’.
Marketing…Sales…Fact: strong link between Sales & Marketing. always seek feedback from sales (reading market,understanding competition, fine tuning products/ services).NO feedback from sales? that’s a problem. Either:1) Sales don’t have your number/email/ channel to give tofeedback,2) Not welcoming feedback?3) NO environment for sales to give feedback.
Land mine # 2: Customer Experience – are we ‘In Synch’?
‘Moment of Truth ‘One magic moment where your company isevaluated. Product/service Performance Interaction with customers How services are delivered
‘Moment of Truth ‘ ‘When passengers see a coffee stain on the tray table in front of them, they automatically assume that we have engine troubles.’Tom Peters (Passion for Excellence, 1985)
‘Moment of Truth ‘SMS for an outstanding balance on client’s bankcard: Cod ID client XX8644YY: La 06/02/2012 suma datorata este67.41 RON. Restantele se raporteaza Biroului de Credit.
‘Moment of Truth ‘Assessment:1. Total lack of politeness. No ‘ ‘we would like to raise to your attention’…2. No explanation – Straight to credit bureau.3. No warnings; ‘out of the blue’. No emails, no attempt to call/ perhaps enquire as to why unpaid or inactive.Contradiction: Enormous budgets for ATL advertising in TV, Print andoutdoor with 3 Romanian sport figures.
‘Moment of Truth ‘Result: Client canceled the card, rather all cards.The solution: All touch points and customer facing departments to be inunison. Product Managers/Marketing communications need to beattentive what: Customer care Retention/loyalty Collections teams are sending to the customer via SMS.
‘Moment of Truth ‘ All customers bring value!Marketing OWNS the messages to customers! All messages to customers, have to be CONSISTENT !
Land mine #3: Dealing with apathy.How Branding can instill a killer instinct
Dealing with Apathy Customer complaints are vital how we are doing Opportunity to solve problemsWhat’s worse than a customer complaining? A customer that does not complain (…and walks).
Dealing with Apathy SOUL is what the Brand represents…it’s the promise delivered every day.
Dealing with ApathyLet me give you an example – yes… banking!4 years ago debit card renewed/ needed to wait for my new card. after 1 week… after 2 weeks ‘nope not ready yet’… after 6weeks, finally get my card!Fast forward 4 years now. Same bank! bank calling to deter potential fraud debit card had to be renewed! 5 weeks to get a renewed card after multiple calls
Dealing with ApathyBright looking employee reaction: ‘Humm’ NO Initiative, NO attention to the customer, NOT a bit of empathy!
Dealing with Apathy WANT to find the answer HAVE the initiativeWANT to kill himself for the brand WANT to please his customer WANT to make a difference FEEL part of the brand!
Land mine #4. Of course thecampaign is integrated…
Of course the campaign is Integrated! Common integrated campaign pitfalls Pitfall #1: Media that don’t reinforce each other Pitfall #2: Create a budget first, metrics second Pitfall #3: Awareness vs. sales Pitfall #4: Delegate and forget More details: Blog - http://blog.renaud-investments.ro/
Of course the campaign is Integrated! Pitfall #1: Media that don’t reinforce each other Ask agency or team making the proposal: • ‘The TVC will complement online how?’ or • ‘Prove to me that customers will see same message in 2-3 different media, creating call to action?’ •‘Explain link between Outdoor and web banners?’
Of course the campaign is Integrated! Pitfall #1: Media that don’t reinforce each other Adding any combination of media is EASY Getting them to work ‘in synch’ is NOT! The messages : Consistent Choice of media needs to build a 1-2 punch Must complement each other.
Of course the campaign is Integrated! Pitfall #2: Create a budget first, metrics secondCommon mistake: Set a budget first, then spend later on avariety of media.The justification to coming up with budget first could be:a) Slow salesb) Competitors are not advertising as much orc) The state of the economy.
Of course the campaign is Integrated! Pitfall #3: Awareness vs. sales It is possible to design Marketing so that the initiatives and tools you create can generate customer revenues. Look for an agency that can focus on: creation execution ..and integration of all Marketing initiatives
Of course the campaign is Integrated! Pitfall #4: Delegate and forget Chief Marketing Officer Sales-and-Marketing Pro: see results maintain the consistency of the message. CMO has to be diligent enough to have created a succession !
Of course the campaign is Integrated! You must consider the following: 1) Who’s the target of marketing campaign? 2) Initiatives follow the marketing plan? 3) Goals this campaign seeks to achieve? 4) Are Leads captured? 5) Monitor the results?
We’ll measure it later“I am certain that half the money I spend inadvertising is wasted. The trouble is, I do notknow which half. ”–John Wanamaker Sustained brand advertising, or targeted retail promotions? “Classical” media advertising or hard-selling direct Marketing?
We’ll measure it laterEvaluation tools that are used to measure a project’sviability: Internal rate of return (IRR) Net present value (NPV) Contribution Margin Return On Investment (ROI)
We’ll measure it later Return On Investment (ROI)Here is a breakdown of a trade show costs and revenues:Trade Show Expense $20,000New Accounts 5Existing Accounts with New Business 15Total Accounts 20 (Cash Flow – Total Show Costs)/Acquisition Cost/Account $1,000 Total Show CostsNew Accounts Year AfterRevenue Generated $50,000Gross Profit Percent 40% 8000-3250/3250 = 146%Gross Profit $20,000Tax Rate 35%After-Tax Gross Profit $13,000Working Capital @ 10% of Revenue -$5,000Cash Flow $8,000Trade Show Expense After Tax $3,250ROI 146%(Source: InfoTech Marketing, 2012)
SummaryGenerating Top Line Revenues!The rules are the same as they were in the70’s:1) Listen to the music!2) Stick to the ‘Shtick’!3) Brand is solution to apathy4) Will my mother understand this?5) Don’t be a ROI sissy
Renaud is Romania’s leading Business Coach www.renaud-investments.ro http://blog.renaud-investments.ro