November 16th, 2011 - Posted in General by Tim Freestone
“Today we sent out an email and it got a 20% open rate!”
“Our newsletter was forwarded to 20 people!”
“We have a monthly client event at a bar!”
“Our ‘air cover’ marketing strategy is really providing lots of coverage….in the air…..!!!!”
“We’re working on a very important deck showcasing our approach to the strategy we’re considering!”
“The last two videos we put on our YouTube channel have 231 views!”
“We’re spending a lot of time figuring out our social media strategy…”
“We sent out company wall calendars to 300 prospects!”
You get the idea….
Step up to the plate and be committed to marketing systems that are built to drive trackable revenue. Anything other than that doesn’t do our profession any favors.
November 7th, 2011 - Posted in General by Tim Freestone
If you are still measuring your marketing value on a cost per lead or cost per meeting basis, you are not taking advantage of the services and technology available to make true business-relevant marketing decisions.
When you go into a marketing activity, in the least, start with a complete understanding of the following data points:
- Average Opportunity Value
- Average Closed Sales Rate
- Average Sale Value
Start there.
Then figure out how much you are willing to spend to drive one opportunity. Think 10X at least (this is a very rudimentary equation but for illustration purposes let’s go with it). So if your average opportunity is $100k, you should be willing to spend $10k. Then figure out what process will require, wait for it, the LEAST amount of meetings/leads to identify one opportunity. I know, I know. “But Tim,” you say, “that makes my cost per meeting and cost per lead go up!” Yes. Yes it does. Ask your sales team what they’d rather do, go on 10 meetings to get one opportunity or one meeting to get one opportunity. Chase 50 leads for one opportunity or 10 (this assumes you have sales that will even bother with leads). The answer to that is obvious. And, if they can do their part and turn opportunity into sales, and do so at a decent conversion rate, well my friend, now you are cooking with gas.
When you stop to think about it, we’re conditioned to asses marketing a little bass-akwards and alf-hassed. Break the mold, take the time to approach marketing completely, spend against opportunity and sales measurements, and start seeing real, actual, business building results. Crazy talk I know….
(Note: look for a follow-up post on the obvious-but-ignored flaw in butts-in-seats approach to event marketing.)
September 30th, 2011 - Posted in General by Tim Freestone
Picture this. You are an IT professional. For the sake of argument, let’s say you are an IT Manager at a medium-sized financial services firm. You have a desk with one of those little bird weather thingies. You have an iPad, but not the one with the data plan – rip-off. A Computer (of course). A Smartphone (the smartest). You drink coffee in the morning and then again around 3:00pm. Maybe a Diet Coke replaces the afternoon cup. On Tuesday’s you like to pay extra for lunch. Sit down lunch if possible. The Italian place around the corner has really good chicken parmesan. Steve, the Sys Admin’s Fantasy Football Team is beating yours, but barely. Your boss is ok, but he spits a little when he talks and should probably wear collar stays. Also, “Where does he go for two hours every Thursday afternoon,” you wonder… For all intents and purposes you are not that different, give or take a grey hair, from most of your colleagues. Read the rest of this entry »
September 26th, 2011 - Posted in General by Tim Freestone
If you haven’t heard of Augmented Reality yet, go to YouTube and search “Augmented Reality.” After that you’ll probably have no clue what the heck is going on. I know I didn’t. However, when the proverbial light goes on in the attic, a whole world of opportunities for marketing in the IT industry presents itself.
Imagine sending detail-accurate models of new IT hardware to thousands of people for the cost of a postcard per person. Imagine sending your CIO or CEO to stand on people’s desks and “personally” talk about your solutions and services, or maybe to even invite them to an event. It’s not only possible, its being done.
enter:marketing has recently completed projects that do both of the above, and having gone through the strategy, development and launch of these initiatives, I can tell you that this technology is a game changer for IT marketing.
March 3rd, 2011 - Posted in General, Strategy by Tim Freestone
Pop quiz:
When faced with the opportunity to have a phone conversation with a decision maker at a target account, the appropriate action is:
A) Get excited about the opportunity and fully prepare to better understand the decision makers issues so that the follow up face-to-face is an effective use of everyone’s time.
B) Get frustrated it’s not an in person meeting, discount the value of the connection and give it your C game.
C) Blow it off completely and complain that marketing doesn’t work.
Seems like an easy answer, but if I had a nickel for every time I saw B and C take place I’d have well over $20. Read the rest of this entry »
February 15th, 2011 - Posted in Social Media Marketing, Strategy by Tim Freestone
As enter:marketing moves forward into 2011 and looks to expand how our clients connect with and sell to their customers – one thing is glaringly obvious: Social Media. In particular, Facebook is a frontier that is critical for our clients to conquer.
That said, we’re facing resistance in our discussions of the value of Facebook marketing. I’m not surprised though. The unknown makes people uncomfortable. The majority of marketing and sales professionals in IT are not familiar with strategies in this space – after all, it’s not an event at Ruth’s Chris steakhouse. Because of this unfamiliarity, most are not willing to make the leap. A couple primary objections pervade most of my conversations: 1) “I don’t think Facebook is for IT businesses; and 2) “Custom what?”
Read the rest of this entry »
February 8th, 2011 - Posted in Strategy by Tim Freestone
Look – I realize I’m asking quite a lot of people. Perseverance is not a trait that pervades the IT industry. If there were a guild of actors of short-attention-span theater, this industry would certainly hold the annual convention. Also, I’m not making a directed statement – it’s a fairly universal trait across all players – sales, marketing, CEO’s, engineers – no favoritism here. I’m also not blaming anyone. I’m simply calling a spade a spade. We all function in a system where products mutate and migrate faster than Madonna’s wardrobe changes in an early nineties concert at Madison Square Garden. So it’s no wonder that the shadow (marketing and sales) of such an unruly beast be also A.D.D.
Again, I’m not bitter, simply painting a clear picture of reality before I lay out a sentiment for how to truly stand out as competent, dare I say exceptional, in a sea of deer-in-headlights mediocrity.
Read the rest of this entry »
January 26th, 2011 - Posted in General, Strategy by Tim Freestone
First, lets define “success.” Actually, let’s define the antithesis of success. Success is NOT pretty pictures or cool designs. Yes, sometimes marketers can smoke and mirror their way through life, but tricks are for kids (someone wise once said that). Success in demand generation marketing is NOT the number of leads. The definition of good vs. bad leads is too subjective and wildly unpredictable. Success is NOT the number of meetings. Unless you are charging the prospect a fee to attend the meeting, a meeting in and of itself is nothing more than two people talking. So what is success in demand generation? It’s simple. Success is the amount of revenue you enable a sales executive to identify from the targets in your programs. I’ll say it again. Success is the amount of revenue you enable a sales executive to identify from the targets in your programs.
The reason I define success in such a manner is because it’s at this point at which the marketer begins to lose direct control of the actual sales process. The marketer still has influence and indirect control (helping provide reps with data sheets, case studies, and other sales tools to aid them in their journey with the prospect) but it’s still the point in that process where the 80/20 rule of control flips. As long as you have at least 80% control, you have the ball. Its where that responsibility ends, where you “make the hand off” that you need to hold yourself accountable, and where the metric for success should be defined. Read the rest of this entry »
January 19th, 2011 - Posted in Strategy by Tim Freestone
It’s our nature to seek instant gratification. Our society programs us this way: Instant Oatmeal, Hot Pockets, 5 Hour Energy Shots, Tivo. We want what we want now, and we don’t want to wait. We’re products of our environment and these “now” influences seemingly govern our lives. As a result, we act with instant gratification in mind in most that we do – personally and professionally.
So as IT marketers we’re inclined to gravitate towards processes and programs that promise instant results. And its not just our nature that drives us in this direction – forces such as funding, rapidly changing business priorities, and driving sales “numbers” are naturally designed to perpetuate this approach to IT marketing. But, for those of who have been in the marketing game long enough, we know that this approach results in unpredictability, consistent frustration, and wasted time and money. Read the rest of this entry »
January 3rd, 2011 - Posted in Solution Provider Services by Tim Freestone
What makes success difficult for email marketing campaigns? For B2B marketing professionals, several factors can impede progress, but targeting recipients is at the top of the list. Let’s take a look at the top six challenges B2B email marketers face:
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Lots of marketing “activity.” The smoke screen for ineffective marketers.
