The Next Business Frontier for CEOs
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Sales and marketing typically account for 20-30% of company revenue yet are often inefficient and dysfunctional. While other business areas have embraced best practices, sales and marketing have not. Only 9% of companies can reliably drive revenue growth and outperform competitors. From research with CEOs, the classic sales and marketing model is broken. This article proposes a simple, sure-fire fix to help sales and marketing work as a coordinated "revenue team" and stop missing forecasts.
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Similar to The Next Business Frontier for CEOs
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Gathering CMO-mentum
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Most corporate boards are completely in the dark about their.docx
Most corporate boards are completely in the dark about their
companies' marketing strategies. A simple series of management
reports can give them the light they need.
M ISGUIDED MARKETING STRATEGIES have de-stroyed more shareholder value - and probably
more careers-than shoddy accounting or shady fiscal
practices have. In almost every industry - telecom-
munications, airlines, consumer products, finance - it
is easy to point to poor marketing as a major cause
of low growth and declining margins.
If marketing were simply the sum of advertising
and promotion, as some marketers seem to believe,
this would he a douhtful claim. But marketing is a lot
more, as the famous "four Ps" (product, price, place,
and promotion) suggest. Classical marketing encom-
passes all the activities organizations engage in to hear
and respond to their customers-from market research
into the Boardroom
by Gail J. McGovern, David Court, John A. Quelch,
and Blair Crawford
70 HARVARD BUSINESS REVIEW
ll - I M . I I ( I c c i i l I'
) Ji-rd tiof (liiii
71
B r i n g i n g C u s t o m e r s i n t o t h e B o a r d r o o m
to product development to customer management to
sales. Marketing discovers what customers want, drives
the creation of products that meet customers'needs, and
ideally generates profitable relationships. Indeed, a com-
pany that excludes marketing from its product develop-
ment may build faster, lighter widgets, but it could miss
what customers really want - widgets that have longer
battery life.
When marketingactivitiesare tightly aligned with cor-
porate strategy, they drive growth. But in too many com-
panies, marketing is poorly linked with strategy. Market-
ing may seem to be performing well according to
standard metrics, like the number of repeat purchases
customers make, but i f t h e company's strategy is to, say,
build market share, simply boosting
repeat purchases isn't enough. In
many organizations, marketing ex-
ists far from the executive suite and
boardroom. Marketing managers
are rarely held accountable for ROI
and rarely expected to explain, ex-
actly, bow what they do supports
corporate strategy. This isn't a case
of dereliction; most companies are
struggling to make their marketing work.
Rather, it's a case of myopia. No one in the organization
sees the relationship between marketing and strategy
well enough to diagnose the problem and begin to fix It.
The failure of marketing strategy is a crisis that requires
attention at the highest levels of the organization-from
the corporate board itself. Here we provide a simple set of
tools that can bring companies' marketing performance
into focus, help directors gauge how well marketing sup-
ports corporate strategy, and allow boards to direct re-
pairs tbat can revive their companies' growth.
Mismanaged Marketing
To understand how marketing fails, it's helpful to look
first at a success. After tbe events of September n . South-
west Airlines swiftly agreed to grant refunds to ali cu ...
20 top sales_leaders_reveal_their_biggest_productivity_secrets
This document summarizes insights from 20 top sales leaders on important shifts in sales strategies, technologies, and processes. Key points include:
- Sales professionals must adapt to changing buyer behaviors and implement fact-based research and briefings rather than just value propositions.
- Cross-functional collaboration, understanding how revenue flows through organizations, and focusing on long-term customer sustainability are important.
- Specializing sales roles into prospectors, market response reps, closers, and account managers can dramatically improve pipeline and scale.
- Qualifying sales prospects thoroughly and providing sales enablement infrastructure helps reps focus on closing deals.
Chapter 8 - SECRETS TO BUILDING A WORLD-CLASS BUSINESS THROUGH LEADERSHIP MAR...
This document discusses secrets to building a world-class business through leadership marketing. It outlines six key roles of successful marketing leaders and organizations: 1) being a strategic visionary for the business, 2) growing revenues and market share while managing profitability, 3) identifying and creating new business opportunities, 4) bringing the voice of customers to senior leadership, 5) creating the right marketing structures, and 6) balancing strategic planning and tactical execution over time. The document emphasizes that marketing must be both strategic and able to execute, and that the most effective marketing leaders blend roles to drive business growth.
How to Grow a Business - Summary
The document discusses how revenue growth is the largest driver of shareholder return but many CEOs focus on cost cutting instead of growth initiatives. It outlines a 4-step process companies can follow to systematically accelerate revenue growth: 1) Define and focus resources on the core business, 2) Establish a common set of market facts and insights, 3) Select the most powerful growth initiatives to implement well, 4) Master the process of change management. The first step is using a "spider chart" to identify the core customers, products, channels and geographies that make up 80% of profits in order to focus on high-potential opportunities within the existing business.
Winning the Sales Hunger Games
The traditional sales models of "order taker", "consultative sales", and "hunter-farmer" are not well-suited for today's technology industry given increased information sharing through social media. The author proposes tweaks to the "hunter-farmer" model to better address this changing environment, including having hunters work more closely with marketing to leverage available prospect data, focusing farmers on retaining existing customers through expanded relationship mapping, and having the C-suite take a more active role in pursuing large deals. The updated model aims to enhance short-term revenue impact and long-term strategic impact.
Ben Legg book manifesto "Marketing for CEOs"
Originally posted on changethis.com this manifesto provides a concise guide on how to pick and hire a future-proof CMO
Ai for-sales-wp
People.ai is an AI platform that helps sales teams become more efficient in 6 key ways:
1. It increases CRM adoption by automatically logging activities and contacts.
2. It boosts sales productivity by reducing administrative tasks like data entry.
3. It enables data-driven sales coaching by providing metrics on reps' activities.
4. It improves forecasting, pipeline analysis, and deal intelligence with more accurate data.
5. It maintains a self-healing contact database by identifying errors and keeping data current.
6. It creates unprecedented buying group visibility to focus marketing and sales efforts.
Data driven marketing - forbes
Data driven marketing - Khảo sát từ hàng trăm C-level do forbes thực hiện
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Go to Market Strategies
This paper from Swystun Communications focuses on the lost art and science of creating tangible go-to-market strategies. Too often marketing plans are just calendarized events and that is not the way to engage the most desired customers.
Grant Cardone's 7 Reasons You Are Missing Sales
Grant Cardone's document discusses seven reasons why companies miss sales targets and what can be done to address them. The reasons discussed are: 1) hiring mistakes, 2) employee disengagement, 3) lack of a sales playbook, 4) poor follow-up practices, 5) failure to close deals, 6) poor time management, and 7) ineffective sales training. Cardone advocates for implementing solutions like regular company-wide meetings, training all employees on lead generation, creating detailed sales processes and playbooks, implementing structured follow-up protocols, requiring salespeople to present customers with proposals 100% of the time, ensuring sales managers spend most of their time on revenue-generating activities, and providing daily online sales training accessible
ABC Of Business Planning And Development
This document provides guidance on business planning and development. It discusses the importance of planning, defining goals and objectives, understanding competitors and constraints, developing a financial plan, and considering risks. Business development involves identifying routes to market, testing assumptions through initial deals, and scaling based on strengths and market feedback. Key aspects of business planning and development include properly defining the business, stating the mission and goals, analyzing the market, and identifying problems and opportunities for the product or service.
ABC Of Business Planning and Development
This document provides guidance on business planning and development. It discusses the importance of planning in ensuring business sustainability and surviving economic downturns. Key aspects of business planning discussed include defining the business, stating goals and objectives, analyzing competitors and constraints, developing a financial plan, and considering risks. Business development involves identifying growth opportunities, testing assumptions through initial deals, and then scaling partnerships and distribution to drive revenue. Both business planning and development require understanding stakeholders, promoting quantitative value, and developing internal support for partnerships. Near and long-term decisions and their consequences are also analyzed.
Aberdeen paper-02-05-14
This document summarizes research from Aberdeen Group on how best-in-class sales organizations use social relationships to build a better sales pipeline. The summary is:
1) Best-in-class firms use social media like LinkedIn more effectively than average firms to originate deals and influence buying decisions, with over half of their deals influenced by social relationships.
2) These top firms focus on creating meaningful sales conversations tailored to customers' needs rather than just adding deals to meet quotas. They also better share knowledge among reps.
3) Utilizing social relationships allows reps to have more personalized interactions with prospects and learn more about their needs, leading to higher quality deals and pipelines for best-in-class companies.
Customer Think White Paper Sales Productivity
The document summarizes strategies for improving sales productivity. It finds that improving revenue growth is the top business goal. The top three strategies to increase revenue are enhancing customer/prospect insight, improving sales pipeline management, and increasing sales rep personal productivity. It reports that most sales reps spend 40% or more of their time on non-selling activities. It recommends focusing on improving the effectiveness of selling activities through better customer insight and streamlining sales processes. Technology can play a key role by supporting well-defined sales processes and providing easy-to-use tools.
Marketing Velocity and the 5 Keys to Making the Cash Register Ring
What does Talladega Nights' Ricky Bobby know about marketing? Speed is the key. And that if you're not first, you're last.
Learn how to use velocity to close deals.
Download The Starr Conspiracy Tech Unit’s free white paper “Marketing Velocity and the 5 Keys to Making the Cash Register Ring.” In it, you’ll learn:
— The most important metric in turning leads into sales
— How to align your people, processes, and technology to make your marketing efforts more effective
— Steps to creating continuity and agility that will crush your business objectives
Succesfulde sælgers 7 vaner
The document discusses 7 habits of successful salespeople that are often ignored. It summarizes that sales and marketing must be aligned, with shared metrics and goals, in order to improve ROI, productivity and growth. It also emphasizes maintaining a healthy sales pipeline through qualified leads, accurate data tracking, and building relationships with key decision makers. Salespeople are advised to be persistent through multiple objections and not give up on opportunities too quickly. The overall message is that coordination between sales and marketing, along with focus on relationships and long-term opportunities, leads to the most success.
Getting Buy-In From The Board - A Director's Guide
This document provides guidance for marketers on how to gain influence at the board level. It discusses how marketers are often not seen as strategic partners and challenges they face in being valued for more than just promotions. It suggests marketers empower themselves by focusing on metrics that demonstrate impact on revenue and profits. It emphasizes speaking the financial language of the business, tying marketing plans to growth goals, and collaborating across functions. The key is for marketers to consistently show how their work contributes to business outcomes in order to be heard at the boardroom table.
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