It might be correct to tell a basketball player that the best way he or she can score points is to dunk the ball through the hoop.
Correct, that is, if the player is, say, 6’6” or taller.
That advice, however, is not very useful for a player that’s 5’6”.
Thu, Apr 25, 2019 — In Part 1 and Part 2, we examined the importance of understanding the buying process and the role of emotion in B2B marketing. We concluded that you’ll want to hire someone who is not just familiar with your industry, channels and channel partners—but someone who’s truly interested in your customers, their pains and buying processes. They must understand what each buyer is trying to achieve, not just what they’re trying to buy. Now, let’s look at some examples and consider the value of going beyond traditional sales support and investing in marketing for growth.
Thu, Apr 11, 2019 — In my previous post, we discussed the importance of hiring a CMO who understands the buying process. Someone who can identify the customer’s pain points and what they need to move forward at each stage of the buying process. Now, let’s consider the role of emotion in influencing the buyers’ decision and how that applies. Appealing to Emotions Although it’s easy to think otherwise, emotions play a role in both B2B and B2C marketing. And, yes, that even applies to industrial buyers! When industrial buyers won’t take a risk, that can be an emotional decision. They don’t want to risk the consequences that come with a bad decision—being viewed poorly in their job, adding even more tasks to an already full workload, or even losing their job by going with the lesser-known alternative. After all, haven’t we all heard that “nobody ever got fired for choosing IBM?”
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.
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.
