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Outsider Insights | From Hustle to System: Why More CEOs Are Rebuilding Their Sales Function
Outsider Insights
Across Chief Outsiders, we talk to hundreds of CEOs every month. In this new series, we explore the trends and challenges we’re hearing from these discussions – and what you can do if you’re facing the same issues in your business.
Manufacturers, Would a Marketing First Responder Help You Resuscitate Growth?
Fri, Apr 5, 2019 — Manufacturing CEO, are you frustrated and concerned because your company is not growing? And what has gotten you here is no longer working and you’re not sure what to do? Until recently your growth has come via customer referrals, word of mouth and sales generated leads. But sales is no longer producing enough new leads or revenue and competition is threatening. Marketing is tactical at best and more random than integrated and aligned. What if you could call in an expert who could quickly assess the problem, identify and prioritize growth opportunities, develop and implement a plan to restore healthy growth and train the management team to carry on? Marketing triage-stop the bleeding, find the low hanging fruit and build ongoing insights, strategies and capabilities.
What CEOs Should Look for in a B2B Manufacturing CMO
Wed, Apr 3, 2019 — In 25 years of marketing, I heard from industrial manufacturing teams—whether it’s a salesperson, business manager or CEO—that marketing is just for B2C. Industrial B2B businesses need nothing more than sales tools and support. So, it’s no surprise that many industrial businesses think that strategic marketing leaders only apply in B2C businesses—so they have not yet considered what strategic marketing can and should do for company growth. And they may not know what skills to look for when it comes time to hire a CMO or marketing manager. Are strategic marketing leaders needed in industrial environments? And, if so, what should industrial companies look for when selecting a CMO or Marketing Leader? To answer those questions, I’d like you to first consider what is similar and different between B2C and Industrial B2B Marketing.
Better Living Through AI: How Computers Will Improve the Service Experience
Wed, Mar 27, 2019 — For consumers tired of endless hold times, long-snaking lines, and difficulty getting customer service, help is on the way. The often confusing, maddening connection to some of our favorite brands and services is about to improve substantially—driven by a pair of tech-powered developments poised to move into the consumer and B2B mainstream sooner than most people think. The first is Artificial Intelligence (AI)—something that, for years, seemed to be the domain of Hollywood hype. Today, whether we know it or not, real learning software is in active use today in a wide variety of areas, ranging from cyber security to your Netflix app.
Are CFOs from Mars and CMOs from Venus?
Mon, Mar 18, 2019 — How credible and accountable is your marketing team? Many companies struggle with a significant credibility gap between the Chief Financial Officer (CFO) and their marketing counterparts. And it’s usually the Chief Marketing Officer (CMO) or VP of Marketing who is seen as the initiator of questionable commitments or requestor for budget with indefensible return-on-investment (ROI) assumptions. Marketing spends money, lots of it. But what is this spending actually buying the company? And who is accountable for the results and being proactive in presenting them?
Create and Activate Visioning to Inspire Your Organization
Thu, Mar 14, 2019 — Not too long ago, there was an exchange on Twitter between Tom Peters and others debating Vision vs. Excellence. Rather than thinking about this as an either/or proposition, a third path – Vision with Excellence – will create the greatest value for your organization. As stated in a Japanese proverb – “Vision without action is a daydream. Action without vision is a nightmare.” Success requires both. Having a clear Vision of the future you want to create, taking the necessary steps to activate it and exhibiting the behaviors needed to make things happen are a powerful formula for driving growth and prosperity for your business. The following are steps that you can take to leverage visioning to drive value in your organization.
What Can CEOs Learn from the Business of Sports?
Tue, Mar 5, 2019 — In times when our world is divided, one thing tends to be a “great unifier”—the spectacle of athletic competition. Across the globe, sports inspires us, gives us hope, makes us healthier, breaks our hearts and, ultimately, brings us together. Though most fans care about how their player or team performs in the field of play, away from the field, the business of sports has been in disruption. How sports organizations are addressing these newfound challenges provides a road-map for fundamental lessons that can help a CEO in any business gain growth-oriented insights. In a series of blogs, I will lead you through the high level challenges shaking the foundation of the business of sports, and offer some frameworks and ideas to address them. My goal is to build on conversations that are already taking place—and, perhaps, start some new ones.
A Practical Guide to Using Account-Based Marketing: What Small- and Mid-Sized Business CEOs Need to Know
Thu, Feb 28, 2019 — Mark Coronna, Partner & CMO--Chief Outsiders with Tom Judge, VP Strategy--Direct Marketing Partners Account-Based Marketing, or ABM, has increasingly captured the attention of marketers in the past several years. If the concept is new to you, don’t worry, you are not too far behind the adoption curve. Small- and mid-sized businesses (SMBs) are the focus of this article for three important reasons: ABM is often misunderstood as a shiny new wonder-tech or a label for strategic selling or outbound tele-prospecting programs. We want to clear any misunderstandings up. The newest technology and best practices related to high-performing ABM programs are still trickling down to SMBs from much larger businesses which have adopted this approach. But the fundamentals of ABM are at the fingertips of most small/medium firms without expensive technology. ABM programs can be scaled to SMBs in a way that makes them both effective and affordable, and can be an integral part of your combined go-to-market and sales program.
Revitalizing a Tired Business: 3 Steps to Identify the Problem
Tue, Feb 26, 2019 — Common Growth Problems Among Businesses Companies of all shapes and sizes watch as the growth of their business slows down, then gets stuck. There is an opportunity to turn around the situation, with a collaborative action plan. It’s essential to determine where and why you are taking on water. Perhaps a new competitor entered the market, enthusiasm is slowing among repeat customers, or your company’s stated benefit is no longer relevant. There could be a deceleration in organic growth, or additional usage and occasions have changed. What’s clear is that what got you to where you are most likely will not get you where you want to go! Businesses often try to address growth issues by cutting back on spending, or milking the company/product/service to maintain or get more profit out of declining revenues. However, this strategy becomes a self-fulfilling prophecy; the only direction you can go from here is continued—or accelerated—decline. It is not a viable, long-term way to address organic growth or loss of market share. As a doctor seeks to understand the challenges of a sick patient, they ask questions and observe behavior. They review options to treat to identify the actions that will most likely optimize and accelerate a return to health. To turn around the business, you’ll want to diagnose how you got into the situation—and what has changed—before you begin tackling the turnaround of the business.
A Practical Guide to Growth Using Contract Marketing and Finance Executive Resources
Mon, Feb 11, 2019 — Mark Coronna, Partner & CMO--Chief Outsiders with John Morris, Partner, and Ken Saddler, CFO, B2B CFO® The use of contract executives (also referred to as fractional, on-demand, or outsourced executives) is relatively new in leadership and organizational staffing models. The oldest and largest contract executive company, B2B CFO®, was founded in 1987. The largest contract executive company providing CMO-level talent, Chief Outsiders, is only 10 years old. There are three key takeaway points in this article: Contract execs are a relatively new option for small- and mid-sized businesses (SMBs) Small- and mid-sized businesses are in a great position to secure significant value from this leadership staffing model While contract Marketing executives are a “newer” concept than using contract execs for functions like finance, contract Marketing and Finance execs both can provide critical strategic expertise and timely support to SMBs, with growth challenges or those interested in more rapidly accelerating growth. Let’s explore what a healthy interaction looks like.