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Matt on Marketing

A blog about marketing and selling

Friday, July 31, 2009

What great marketing looks like

My first reaction when reading Andy's post on Klimpton Hotels today was "wow, that's great marketing at work."  Second reaction was, " I'm not sure many marketers would recognize this as marketing to begin with."

How many marketers think marketing is about the Web site, the collateral, the signage, the newsletter, and activities strictly focused on marketing communications?  Marketing is far more than that.  It's the entire experience you give your customers.

Klimpton has done a lot to create great experiences for their customers, with lots of buzz-worthy features.  And as Andy points out, even when they screw up, their response is genuine, transparent and fast.

That's all good marketing.  The unfortunate truth is that not only do many marketers not see this as part of their job, most organizations don't realize the impact on revenue these "operational" experiences have.  The experience and operations is the marketing for service-oriented businesses like Klimpton.

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Thursday, July 30, 2009

Capturing daily feedback from your team & industry

From Verne Harnish's excellent weekly newsletter comes this idea for capturing daily feedback from your sales team, customers, prospects and the market in general, all at the same time. Nik VanHaeron, president of Canadian-based Uvalux Tanning & Support, shared this:

"I thought I'd share with you one of my favorite management tools. I call it our Highs, Lows and Need to Knows. These are my "tea leaves"... I see a lot of trends, allows me to celebrate successes, find out what's bogging our sales department, and what they are hearing in the industry.

"Everyday, I send a simple survey to our sales team. It has three simple questions on it. What was your high point of the day? What was your low point? And anything you heard that management should need to know? It arrives in their inbox at 4:55pm every day, so the last thing they do before they go home is reflect on their day and get things off their mind. I use Constant Contact to send the survey. It's the first thing that I read in the morning, and I love it. It gives me any key items that I have to look at first thing in the morning. We discuss it at our huddle, and get it done! It's about seeing trends sooner than your competition and the market."

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Wednesday, July 29, 2009

Starting with Why

Too many sales & marketing messages, unfortunately, talk about “what” and “how”.  And at the front of the sales process, that’s a shame.

You’re proud of what you’ve built, which is great.  You have six new features in the latest version, awesome.  But if you lead your pitch with a description of what you’re selling, or how it works, you’re skipping the most important part of the conversation.

Why the customer cares.

When you write about why, you’re addressing your customer’s world.  You’re speaking their language, feeling their pain, building credibility by associating with the challenges they face.  Those challenges, that pain, is what drives demand for your product or service.  It’s why people buy.

If your prospect doesn’t have that need, or you haven’t established or created that need, selling the prospect on what you have and how it works isn’t going to help.  You’ve done nothing to build value, and given the prospect no context for which to understand why they need to talk to you in the first place.

In the end, it all comes down to why.  Yes, you may eventually get to a product demo and operational training of how to get started.

But the top of the funnel is all about why.

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Wednesday, July 29, 2009

Five ways to create innovation throughout your life

Braden Kelley was kind enough to let me guest-post on his excellent Blogging Innovation blog today.  He (as well as his contributors) cover a wide variety of innovation-related topics specific to the workplace, but I wanted to explore how those same concepts apply to several other facets of our lives.  Check it out here.

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Tuesday, July 28, 2009

B2B lead generation: Four better measures of success

If you work for or with a marketing team that drives leads for a sales team, it's likely a mistake to measure your success based on lead volume.

Lead volume doesn't matter.

What matters, of course, is revenue. Your job as a marketer is to give your sales team the best opportunities possible to close business, increase sales, and grow the value of the overall business. To that effect, there are far better ways to measure marketing success instead of pure leads. Here are four I like in particular:

  • Lead Quality: Leads are only good if they represent individuals or companies who can buy. Sit down with your sales team and agree on a common definition for a qualified lead. This can include things like company size, title, industry, purchase timeline - whatever you agree on. Leads you generate that aren't quite "in profile" aren't necessarily bad - some will still have revenue in them - but your primary job is to focus on optimizing volume and cost of the in-profile leads first.
  • Pipeline Contribution: Simply put, how many of those leads generated become active sales opportunities? Sure, this step requires work by your sales team, but it's another good indicator of lead quality. This step also requires marketing to work collaboratively with sales to get the job done. No more passing leads over the wall and walking away. Marketing's job includes helping the sales team continue working with new prospects until they're ready to buy.
  • Deal Size: If you look deep into your lead generation metrics, I guarantee you'll find trends that help you increase deal size at the lead level. Do particular industries buy more? Do certain titles tend to buy more products? Certain company sizes, geographies? Find the trends that lead to bigger deals, and find ways to generate more leads like that moving forward.
  • % and # of Deals from Nurture Database: If a lead isn't ready to buy, but hasn't said no, it's marketing's job to nurture that prospect until it's ready to be passed back to sales. How well does your marketing team drive interest and urgency with your nurture database? How well does marketing identify when nurtured prospects are ready to buy? This is a great way to ensure your marketing team is innovating ways to drive urgency among your prospect database, and many of those urgency drivers will work in primary lead generation channels & campaigns as well.

Last but not least, there's of course cost per lead all the way through to the sale. Too many B2B marketers measure cost per lead (and sometimes even cost per in-profile lead), but fail to look at relative marketing cost of the opportunity and sale. A certain lead source can look great based on cost per lead, but if the conversion to opportunity and sale (not to mention lifetime value) is too low, leads that cost more can actually be better for the business after sale price and renewals are factored in.

What success measures work for your marketing team to drive focus on revenue?

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Friday, July 24, 2009

Design with purpose

I had a great meeting with Nic Wildeman of Lionfish Creative this morning. Check out their Web site and you'll see that they're very good at creative and design - their work is fresh and engaging, it "makes you look."

But what I particularly liked about Nic and Lionfish is their perspective on design, summed neatly by Nic's comment below:

"The best creative work in marketing must serve a client's business purpose, else it is art for art's sake, and that is not our business."

These are exactly the words you want coming from your brand's creative shop. Every facet of your execution - including strategy, copy, offer and design - needs to align with your purpose and objectives. Too many creative resources - both in-house and via agencies - focus on creative that wins industry awards, which is nice for the agency walls but not as helpful for the client's sales goals and bottom line.

But the blame here isn't always with the creative shop, but too often also with the client. When you fill out the creative brief, do you describe how you want the ad to look? Sure. Do you also describe the brand's revenue or market share objectives, and how the creative needs to align to and deliver those results? Not always.

Your execution is as good as its weakest component. Don't let it be the creative (and don't always blame the agency or designers when it is).

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Thursday, July 23, 2009

The two most important questions in partner marketing

Most companies that start a partner or channel marketing strategy ask the following questions:
  • What's in it for us?
  • What's in it for the partner?
  • How do we both make money?
The companies with the most successful, profitable partner marketing programs don't ask these questions. They instead focus solely on two questions:
  • What's in it for our customers?
  • What's in it for our partner's customers?
Do what's right for the customer, and the rest will follow.

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Wednesday, July 22, 2009

Restaurant marketing basics: Five tactics to get you started

I get a lot of restaurant owners asking about how best to market their businesses, and the answers typically boil down to two specific objective:
  1. Gain new customers
  2. Retain current customers
Below are a few starter concepts that every restaurant should employ on both counts. Most if not all can be executed with little to no out-of-pocket cost. Most are also focused on driving repeat business from existing clients, as your best marketing channel for incremental revenue as a restaurant are the folks walking into your door every day.

With each new diner, you have an opportunity to win their business again, and win their pass-along recommendation to countless other potential diners in their network.

These ideas are just the tip of the iceberg, but you've got to start somewhere.


Web Site
If for no other reason than to ensure prospective diners can find your contact information when searching for somewhere to eat tonight, you need a Web site. If you don't have one today, you can register a domain with GoDaddy.com for eight bucks a year, and use their WebSite Tonight tool to put something up with basic information, a phone number, your hours, and even a menu.

Better yet, add online ordering and reservations to the site. There are companies like ClickEats that will do this for you quickly and inexpensively. The more you can help prospective customers not only learn more about you, but also immediately engage, the more likely they are to come for a visit.

Testimonials
Testimonials and user reviews are the lifeblood of good restaurant marketing. Sure, your menu looks good. But what have others said that have already tried it? Sites like Yelp make it easy for customers to review and rate restaurants, but don't count solely on third parties to control and aggregate your testimonials.

Ask your happy customers for a simple sentence or two after they're done dining. Put those testimonials near the front door (along with their picture would be a nice touch), and add them to your Web site as well. There are countless ways to collect and leverage testimonials, but if you're not asking for them today, get started now.

Come Back Coupons
You want that first-time diner to come back, right? Why not give them a simple coupon offering something discounted or free on their next visit? Put it underneath their receipt when they leave, or simply stamp a message right on their take-home receipt as a reminder.

This in-person coupon distribution is extremely cost-effective and will drive both direct and pass-along new business (do you really care if those diners give the coupons to someone else? In fact, that's even better!)

Free Samples
When diners sit down for a meal, why not give them a sample of either an appetizer or dessert? It's unexpected, appreciated, and a great way to start the experience on the right foot. Plus, it will likely drive more diners to purchase those appetizers and desserts to increase their overall ticket.

Take it a step further and give them a sample to-go when they leave - either something new to the menu or something you think they might like next time based on what they ordered today. Again, unexpected and appreciated - and I guarantee it'll help them remember you and want to come back.

Collect Email Addresses
Email addresses collected with permission of your customers is one of the best ways to maintain an ongoing conversation with them between visits (and to encourage more visit frequency and pass-along to their friends as well). When collecting email from customers, make it worth their while - offer a free dessert, or drawing for a free lunch, in exchange for their contact information. Also be clear what the benefit is of being on your list - exclusive offers, birthday and anniversary surprises, new menu additions, etc.

With that email address, collect special event dates as well - birthdays, anniversaries, and even preferences on food & drink. When customers volunteer this information, they're more likely to respond when you come back with related special offers and invitations.

There's much more to do here, simple & easy things every restaurant owner can do to accelerate customers and revenue with little to no out-of-pocket cost. I'll post more ideas soon.

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Wednesday, July 22, 2009

Seven reasons to shop local

I’m a big believer in supporting local businesses.  In these economic times especially, it just feels right to do so.

The Kirkland Reporter recently published a short piece I wrote highlighting seven specific reasons why shopping local can save you time and money.  Check it out here.

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Thursday, July 16, 2009

Three ways to set up a BIG sales month

It's mid-month. How are you doing against your monthly sales goals? If you're on track or ahead, congrats (and don't let up). If you're behind, you're not alone. In this market especially, getting traction on deals throughout the month can be a challenge. In many selling environments, especially those with a relatively short sales cycle, the single most important thing you have control of to have a big sales month is what you do at the beginning of the month to set up above-quota sales through the rest of the month.

Here are three things you can do the beginning of every new month to hit your sales goals:

  1. Focus on Setting Appointments: In the first couple days of the month, put a concerted focus on setting appointments with leads you already have. Use an external incentive or accelerator if need be, but work hard through your existing contact or lead list to create new appointments and presentations for the next few days. More appointments means more active opportunities that can close by the end of the month.
  2. Incentives for Quickly Closing Slipped Deals: Every new month starts with a handful of deals expected to close the previous month, but that for some reason slipped. Most sales organizations dump these into the overall "expected to close" bucket for the next month, but why shouldn't these deals close within the next few days? Put a focus on closing slipped deals immediately to give yourself a jump on your sales goal and to goose momentum for the month overall (for yourself and the rest of your team)
  3. More Leads Timed to Start of Month: If you're marketing for a sales organization, do everything you can to generate new leads towards the start of the month (or quarter, depending on your typical selling cycles). At the beginning of the month, sales professionals are the most focused on building their pipelines. Leads that come in at the end of a month are more likely to get ignored as sales focuses on closing existing opportunities.

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