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Beating Industry Benchmarks
In my previous blog, I discussed a fast way to assess relative marketing performance, and covered proven approaches to improving six industry benchmark-based Key Performance Indicators (reach, share, engagement, loyalty, pipeline, and progression) that can boost overall marketing effectiveness. Today, I’m going to review some of the key findings from recent research around Marketing benchmarks. I’ll select key metrics from each of these three benchmarks and their implications for optimizing marketing performance.
A Recipe for Outbound Marketing Success in an Inbound Marketing World
Thu, Jan 8, 2015 — I had a conversation recently with a business associate who was pronouncing dead the discipline of outbound marketing – which, simply stated, is the technique of reaching out to a prospect proactively to gain their attention and ultimately, their business. This associate went on to say that his recent attempt to send a direct mailer to hundreds of prospects was an abject failure. Hardly any business had resulted from the investment. When I probed as to the reasons for the failed outbound marketing attempt, I learned that this individual conducted no appreciable follow-up, had not developed a plan to reinforce the message in the mailer and had no rhythm, cadence or even schedule for reaching back out. It is often forgotten in this brave new world where inbound marketing – abetted by social media and other relatively easy portals for a prospect to initiate contact with a business – rules the day that the outbound side of the equation, when executed well, can still have a place in many business’s toolkits.
Five Ways to Jazz Up your Content Marketing in 2015
Wed, Jan 7, 2015 — If you are reading this blog right now, you are participating in a trend that has transformed the face of marketing as we know it. “Content marketing is …….. creating and distributing valuable, relevant and consistent content to attract and acquire a clearly defined audience – with the objective of driving profitable customer action,” according to the Content Marketing Institute. If that sounds a lot like what traditional advertising endeavored to do, you’re correct. Content – its creation, refinement and dissemination through multiple channels of communication – has become the essential recipe to the marketing formula. And, like traditional advertising, the gauge of success, too, for content marketing is, “profitable customer action”, e.g., thought leadership, lead generation – and ultimately, sales.
Digital Demand Generation Marketing: Optimize for the Future
Tue, Dec 16, 2014 — Digital Demand Generation: A New Level of Marketing In my last blog, I talked about the need to have your marketing plans be mindful of the increasing importance of marketing technology infrastructure, data, content, mobile and privacy regulations. Assuming you are ready with your new marketing strategies, it’s time to take a deeper dive into the great level of the marketing playing field – digital demand generation marketing. In a little under a decade, the advent of new social and online tools has dramatically changed demand generation – using tools that are accessible, easy to use and offer the ability to micro-target like never before.
The 3 Things You Aren't Understanding About Content Marketing
Mon, Dec 8, 2014 — As the CEO of your company, you’re bombarded with words and phrases like content marketing, inbound marketing and blogging. It can all seem nebulous unless you define what content marketing actually does for business. Content marketing, done right, is created to answer questions for people. Essentially, you want to become the Wikipedia of your niche. People come to you because they trust you with the right information.
Are You Going To "Finish Big"?
Wed, Oct 29, 2014 — I had the opportunity to hear Bo Burlingham speak last year about his upcoming book, Finish Big: How Great Entrepreneurs Exit on Top. Many of you might be familiar with Burlingham from his groundbreaking work, Small Giants—Companies That Choose To Be Great Rather Than Big. In his latest book, he takes an in-depth look into the specific phase in a company’s life when its Owners/CEOs/Partners begin to consider exiting their business. His relevant ideas and sharp insights in this discussion of Finish Big were so compelling to me that I wanted to share highlights with you. I encourage you to get the book when it is released at the end of November 2014 so that the concepts below can come alive for you as well.
2 Eye-Opening Reasons that Sales and Marketing Need to Work Together - and 3 Ways to Get Started Now
Thu, Oct 23, 2014 — Today, customers expect to be marketed to in the right place, at the right time, with the right message. If just one of those things is off, your content is at risk of getting deleted, or worse, being marked forever as “spam.“ A key to giving your audience the messaging they want to hear, when they want to hear it, is having marketing and sales teams that work together instead of independently. Sales and marketing alignment is now more important than ever because:
Things to Know Before Putting Your Kids on the Payroll
Wed, Oct 8, 2014 — Americans like the idea of starting a family business. According to the US Small Business Administration, 90% of the 21 million small businesses in the US are family owned—and 62% of employed Americans work for family owned companies. The success rate of family owned small businesses, however, is amazingly low: 7 out of 10 of family owned businesses fail before the second generation gets a chance to take over.
Learn from the Lost Bid, and Win the Next One
Mon, Oct 6, 2014 — Winning is wonderful; losing is lousy and finding out why you have won or lost is serious business. It is also insightful and critical input to your marketing and sales execution effort. The main goal for most organizations selling services or products is to win more business faster and more cost efficiently. And this often involves a bidding process. We can all relate to the stifling anxiety that comes from waiting for a response—and when unsuccessful at garnering the bid—those moments of depression. It can be an expensive and time-consuming effort to prepare a bid for a major opportunity. With that said, companies often move on to the next prospect without considering the data that may be indispensable for future pursuits. Why a company won or lost a client’s business is just as important as the business itself, since it predicts future business.
Special Challenges for the Family Business: Scale, Skills and Succession
Wed, Oct 1, 2014 — Second in a Two-Part Blog Series If you are an ardent reader of business news, it was hard to escape the sordid tales this past year of the epic battle over family-owned Massachusetts-based grocer Market Basket. It was cousin against cousin as Arthur S. Demoulas, who gained control of the board of the $1.6 billion company, ousted popular CEO Arthur T. Demoulas – causing an outcry that alienated consumers, rallied employees and nearly destroyed the business. Only through a highly-leveraged buyout – and the restoration of “Arthur T.” to the C-suite – did Market Basket ensure its survival – at least, for now.