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Does Your Contracting Pipeline Live in the Owner’s Head?
Relationships matter in construction, and most subcontractors have good ones. The owner or president carries the key customer relationships, and the project managers carry everything else. That arrangement can work well. It is also fragile. In our last post, we asked whether you know by name who owns each strategic account. This one looks at what happens when the answer is the owner.
Artificial Intelligence in Action: Developing Your Company's AI Strategy
Tue, Apr 9, 2024 — In the rapidly evolving domain of technology, developing a strategy for Artificial Intelligence (AI) is becoming crucial for companies looking to leverage the transformative potential of AI. An AI strategy is essential for defining the integration and application of AI technologies within a company's framework, ensuring that such integration is in harmony with the broader business objectives and results in a seamless fusion with existing operational, product, and service sectors. McKinsey reported that "companies that have leading digital and AI capabilities outperform laggards by two to six times to total shareholder returns across every sector analyzed."
Where Pricing and Marketing Strategies Intersect
Thu, Mar 28, 2024 — Back in the day, pricing was a foundational piece of all marketing strategies. When I went to grad school, for example, the four Ps were in vogue – product, price, place, and promotion. At that time, the intersection of pricing and marketing was seen as a given, almost a tautological concept. But as marketing professionals and professors' desire to innovate and differentiate intensified, the traditional 4Ps evolved into new frameworks like the “4Cs”, emphasizing concepts such as customer, cost, convenience, and communication and the "4Es" of experience, exchange, evangelism, and everywhere into the marketing lexicon. And I admit I lapse into momentary shudders when I think of all the as-yet-untapped letters in the alphabet.
Beyond Lead Gen: How CEOs Can Leverage Marketing for Sales Performance
Wed, Mar 27, 2024 — In today's competitive business environment, a highly skilled and empowered sales force is essential for driving revenue growth. However, the effectiveness of sales training alone is limited without consistent support and reinforcement. This is where the collaboration between the sales and marketing departments becomes crucial. It's imperative to recognize that marketing and sales are not isolated functions but interconnected components of the business success equation.
What’s the #1 Job that Marketing Needs to Do for Your Business?
Wed, Dec 13, 2023 — I joined a group of colleagues recently to brainstorm a request from one person’s client: “Develop a catchy, differentiating idea that hooks prospects.”
Bridging the Gap Between CEOs and Marketing Leaders
Tue, Nov 21, 2023 — Recent research from McKinsey & Company reveals a concerning trend - while 90% of CEOs believe their marketing leaders’ roles are well-defined, only 22% of marketing leaders agree. This staggering discrepancy highlights a growing divide in how marketing leadership roles are perceived and utilized in organizations today. This insight was brought to light in a recent article from the Wall Street Journal, “Divide Between CEOs and CMOs is Widening…”
How to Establish a Strategic Growth Plan and Justify Your Marketing Budget
Wed, Oct 25, 2023 — Accelerating Growth With Strategic Business Planning, Part 3 Post 3 of 7 in a blog series on accelerating growth through strategic business planning. Conditions move fast. Customer expectations shift, competitors adjust, and technology keeps changing how companies reach buyers. So the first question to ask about your growth plan is whether it reflects the year ahead or simply repeats the year behind.
Analyze Your Current Customers to Supercharge Your Annual Business Planning
Thu, Oct 19, 2023 — Accelerating Growth With Strategic Business Planning, Part 2 Post 2 of 7 in a blog series on accelerating growth through strategic business planning. When we ask clients why their customers buy from them, the answers fall into three groups. Some know precisely. Some do not know and say so. And some are confidently, expensively wrong.
Why You Can’t Afford to Cut Your Marketing Investment
Wed, Oct 11, 2023 — Accelerating Growth With Strategic Business Planning, Part 1 Post 1 of 7 in a blog series on accelerating growth through strategic business planning. In our last post, we made the case for why written, cross-functional planning is the first step toward building a growth system rather than just completing an annual exercise. This post gets into what that means for your marketing budget, specifically what to protect, what to cut, and how to make the call without flying blind.
Accelerating Growth With Strategic Business Planning
Tue, Oct 3, 2023 — Introduction: Take Action Now to Plan for Success Introduction to a seven-part blog series on accelerating growth through strategic business planning. The annual planning cycle is starting, which means you are sharpening your pencil, corralling your leadership team, and bracing for the meeting where everyone agrees on the number and disagrees on everything else.