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Marketing is a waste of time – focus on business development
The document discusses business development strategies. It argues that marketing is a waste of time and businesses should instead focus on business development. It provides an overview of Dan Kraus and his company Leading Results, which provides business development coaching and consulting. It then outlines the key aspects of an effective business development system, including having a clear strategy and purpose, differentiating your business to attract ideal customers, and creating a "digital flywheel" where existing customers and new customers acquired through referrals drive ongoing business.
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Marketing is a waste of time – focus on business development
- 1. Marke&ng is a Waste of Time – Focus on Business Development
- 2. 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
- 3. 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
- 4. 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
- 5. Leading Results Core Marke&ng Mantra • Don't 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 don't have &me to figure out if what I need is what you do.
- 6. 7 7! 7 SEVEN! VII SOURCE: edwardboches, chief creative officer, chief social media officer at Mullen
- 7. customers want moreparticipation and even control
- 8. relationships with mediaare more complex than ever
- 9. we want todo business with a person
- 10.
- 11. there’s no suchthing as perfect
- 12. attention is thenew scarcity
- 13. the MP3 isgood enough
- 14. 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
- 15. 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
- 16. Defini&on of Business Development Know Like Trust TRY Buy Repeat Refer
- 17. Business Development (in the new world) isn’t hard, but it is complicated
- 18. Business has onlytwo functions -- marketing and innovation. - Peter Drucker
- 19. 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
- 20. 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
- 21. The Perfect BusinessDevelopment System Prerequisites: • Clear Messaging • Consistent Shared Purpose • Defined Ideal Customer Profile • CRM System Integrated with • Website • Email Marketing Engine • Customer Service Systems incl. Phone
- 22. 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
- 23. Strategy before tac&cs (founda&on) • Define your Purpose • Narrow your focus • Differentiate and dominate
- 24.
- 25.
- 29.
- 30. What is ideal? • Values you • Profitable • Refers
- 31. Ideal customer • Demographics • Psychographics • Geographics • Behavior
- 32. Differen&ate and they’ll flock to you
- 33. 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
- 34. 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!
- 35. How do you differen&ate ? Yes Not
- 36. 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?
- 37. Goal – A new way to express your value to your ideal client
- 38. 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
- 39. 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
- 40. 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
- 41. Hourglass Know Like Trust Try Buy Repeat Refer
- 42. Hourglass & Program Types Know Net New Like Nurture Trust Try PR & Community Buy Repeat Current Customer Refer Referral
- 43. Hourglass & Program Types Know Net New Like Nurture Trust Try PR & Community Buy Repeat Current Customer Refer Referral
- 44. Trial Know Net New Like Nurture Trust Try Try PR & Community Buy Repeat Current Customer Refer Referral
- 45. 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
- 46. Step 1 – Helping prospects find you • Net new lead genera&on • Gesng found via search • Referral through Alliance Partners
- 47. Getting Found =Valued Content • You need materials that Educate • The problems you solve, packaged for consumption
- 48. Content that buildstrust • Reviews • Testimonials • Personality • Social media • SEO oriented
- 49. Content that educates • White papers • Webinars • FAQs • Success stories • About You
- 50. If you thinksits all about content…
- 51. Next -‐ Nurture Your Prospects • You’ve been found • You’ve educated • Some have bought …. What do we do with the ones that didn’t?
- 52. 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
- 53. Consistency Counts How oQen? • Once a month (average) BUT Vary the approach
- 54. Varied Tac&cs and Delivery Core Tac&cs • NewsleEers • Conversa&ons (phone & F2F) • Webinars • 1:1 Value Offers
- 55. 1:1 Offers • Audits • Evalua&ons • Quotes • Custom reports or analysis • Market Comparison
- 56. 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
- 57. 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
- 58. Manage the Beast Again… This isn’t hard, but it is complicated
- 59. #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
- 60. #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
- 61. #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
- 62. #4 -‐ Use a calendar
- 63. Live by the Calendar • Quarterly or Monthly themes • Weekly ac&ons & Deadlines • Daily appointments
- 64. 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
- 65. Result Ultimately, an effective system eliminates the need to compete on price. Offer #1 Complete the evalua&on, get the slides
- 66. 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
- 67. We help smallbusinesses stop wasting money on marketing Thank You & Ques+ons Please take a moment to complete the post presenta&on evalua&on Contact Us Web: www.leadingresults.com Email: info@LeadingResults.com Phone: 888-717-1715 Twitter: @LeadingResults ; @LauraBLorenz FaceBook: facebook.com/leadingresults
Editor's Notes
- #15 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.
- #16 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
- #26 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.
- #27 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.
- #28 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.
- #29 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.
- #38 This slide needs to transition from foundation to building the marketing machine
- #49 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.
- #50 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.
- #53 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). <<CLICK>> 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
- #54 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.
- #55 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.
- #56 Offers are a great way to establish like and trust. Look at how a prospective client is doing something and offer best practices