Marketing in the Trenches

35

Transcript of Marketing in the Trenches

Page 1: Marketing in the Trenches
Page 2: Marketing in the Trenches

2

Table of Contents

INTRODUCTION CUSTOMER STORYTELLING

NEW MEDIA TECHNOLOGY TEAM

Page 3: Marketing in the Trenches

3

Introduction

• In my experience, I’ve found that the growth of a company typically has less to do with

traditional marketing tactics and more to do with initiatives outside of the standard

definition of marketing. It used to be that business owners would think to themselves,

“Since I need to grow, let me hire a couple of people and they can take care of that for

me. My marketing department will recommend such-and-such tactics, which will help us

achieve such-and-such results if we employ them.”

• Marketing has evolved, however, and organizations need to change their mindsets.

From my perspective, marketing is no longer something done by one department.

Rather, it now includes every department and every customer interaction. Your company

itself is a marketing engine, and breaking down the walls inside an organization can

ensure that everyone plays a role. This approach optimizes your team, your technology,

and your culture so that everyone is fully focused on the needs of your customers and

on structuring the right processes to address your customers’ pain points.

INTRODUCTION

Page 4: Marketing in the Trenches

4

CUSTOMER

CUSTOMER

Page 5: Marketing in the Trenches

5

Tip No. 1

“Know exactly when,

where, and how your

customer buys in order

to focus your marketing

with that moment in

mind.”

Know Your Customer

Knowing exactly what your customers want

helps you focus your marketing with their

needs in mind

Leverage customer advisory boards, client

events, DMPs, and Net Promoter Score

surveys to obtain customer insights

Develop customer “personas” so you can

speak to these different customer types in

the right way

The first step is knowing exactly who your customers are and what they like

CUSTOMER

CUSTOMER

In the Trenches Takeaway:

Page 6: Marketing in the Trenches

6

Tip No. 2

“The traditional “sales

funnel' is officially dead.

You need to identify,

strengthen, and grow your

customer touch points in

order to be on top at the

moment of purchase.”

Map the Customer Decision Journey

Create a map of every touch point in a

customer’s evaluation process, from initial

consideration to post-purchase

Touch points may include: identification of a

need, Internet searches, a customer

service call, social media, customer

feedback, etc.

Ensure that each touch point is owned by

an individual or team

CUSTOMER

CUSTOMER

Identify, strengthen, and grow your available customer touch points

In the Trenches Takeaway:

Page 7: Marketing in the Trenches

7

Tip No. 3

“Your customers have

a wealth of information

and choices. Retaining

them is more crucial

than ever – and more

profitable.”

Wow Your Customers

Retaining a customer costs 7-10 times less

than recruiting a new customer

A focus on retention transforms your

customers into evangelists for your brand

Focus on perfecting post-purchase touch

points in order to maximize customer

lifetime value

Add new post-purchase touch points such as

a follow-up call or Net Promoter Score survey

CUSTOMER

CUSTOMER

Obsess over the post-purchase stage of the customer journey

In the Trenches Takeaway:

Page 8: Marketing in the Trenches

8

Tip No. 4

“By transitioning away from

low-value customers, you

can devote the right

amount of time, money,

and resources to acquiring

and retaining high-value

customers.”

Fire Your Least Profitable Customers

Segment customer accounts based on

profitability and lifetime value

Allocate resources proportionally to the

value of your customer accounts

Gracefully remove unprofitable clients from

your roster, but make the transition as

smooth as possible for them

Use your divestment data to improve

prospecting, and target prospects who look

like your high-value customers

CUSTOMER

CUSTOMER

Gracefully divest unprofitable clients in order to focus on high-value clients

In the Trenches Takeaway:

Page 9: Marketing in the Trenches

9

STORYTELLING

STORYTELLING

Page 10: Marketing in the Trenches

10

Tip No. 5

“The human brain

thrives on good

stories. This is very

good news for your

marketing effort.”

Tell a Compelling Story

Make sure that you know the “what,” “how,”

and “why” of your business’ story like the

back of your hand

Always begin with your “why” to draw

customers in and give them a personal

connection with your company

Tell a cohesive story across your company,

from your products to your HR policies

Let your “why” evolve with your company

CUSTOMER

STORYTELLING

Learn with your “why,” and then use your “how” and “what” to complete this picture

In the Trenches Takeaway:

Page 11: Marketing in the Trenches

11

Tip No. 6

“Content marketing is

the way to build a

foundation of helpful

knowledge that will

separate your brand

from the crowd.”

Content is King

Content marketing costs 62% less than

traditional marketing – yet it excels at conversion

Create a content strategy & calendar to ensure

consistent posts across diverse media platforms

Craft accurate, quality content that includes

images and short summaries/headlines to

allow skimming on the go

Repurpose your content across platforms

CUSTOMER

STORYTELLING

Build a foundation of content to separate your brand from the crowd over the long term

In the Trenches Takeaway:

Page 12: Marketing in the Trenches

12

Tip No. 7

“First, determine how

your organization stands

out from competitors.

Then, communicate and

support this difference in

any possible way.”

Hammer Home Your Unique Selling Proposition

Unique selling proposition (USP) = the

unique reason that your product or service

is superior to the competition

Your USP falls into one of three categories:

price, experience, or innovation

Formulate a USP and push it out across

your marketing messaging

“Walk the walk” and align your entire

organization with your USP

CUSTOMER

STORYTELLING

CUSTOMER

Develop a core differentiator – and own it

In the Trenches Takeaway:

Page 13: Marketing in the Trenches

13

NEW MEDIA

NEW MEDIA

Page 14: Marketing in the Trenches

14

Tip No. 8

“For marketers who want

to truly leverage today’s

new media, paid

marketing is actually the

least desirable route to

travel.”

Think “Owned, Earned, Paid”

“Interrupting” your customer through paid

media doesn’t cut it anymore

Leverage three distinct categories as you build &

enhance your brand: owned, earned, and paid

Owned media = the extensions of your brand

that you control (your website, Facebook page)

Earned media = the publicity and word-of-

mouth attention that your company earns when

its content is shared

CUSTOMER

NEW MEDIA

CUSTOMER

Diversify your media using owned, earned, and paid channels

In the Trenches Takeaway:

Page 15: Marketing in the Trenches

15

Tip No. 9

“As traditional outbound

marketing strategies have

become less effective,

inbound marketing has

become the most effective

method of capturing new

business.

Think Inbound over Outbound

Inbound marketing delivers leads at a cost

per lead of 62% less than outbound

marketing

Produce interesting content that prospects

& customers see as worth reading and

sharing – and you will earn their attention

New inbound initiatives may include hiring

a freelance copywriter or investing in new

video, infographics, or webinar content

CUSTOMER

NEW MEDIA

CUSTOMER

Reach customers in the right way (while saving money) using inbound marketing

In the Trenches Takeaway:

Page 16: Marketing in the Trenches

16

Tip No. 10

“As the first introduction

of most prospective

customers to your

company, your website

is the best place to

communicate what your

company does.”

View Your Website as Your Online Storefront

Up to 95% of qualified prospects use

company websites to research

Develop better website content, video &

design to increase conversion

Develop a strategy that drives website

traffic

Track the behavior of visitors to your

website using Google Analytics – and

optimize accordingly

CUSTOMER

NEW MEDIA

CUSTOMER

Invest in a credible, attractive, and easy-to-navigate website

In the Trenches Takeaway:

Page 17: Marketing in the Trenches

17

TECHNOLOGY

TECHNOLOGY

Page 18: Marketing in the Trenches

18

Tip No. 11

“A virtual goldmine of

tools that can make

your marketing

instantaneously easier

has been produced

during the past

decade.”

Put the Right Technology in Place

Use marketing automation tools to

streamline your marketing & market

smarter

Leverage a customer relationship

management (CRM) platform to wow your

customers at a scalable level

Integrate your technology platforms to

maximize the benefit of your technology

investments

CUSTOMER

TECHNOLOGY

CUSTOMER

Leverage marketing automation and a CRM platform to market smarter

In the Trenches Takeaway:

Page 19: Marketing in the Trenches

19

Tip No. 12

“The benefits of embracing

the data that you have

about both your customers

and your prospects are

clear; the challenge is

doing so in the most

efficient way.

Measure Everything You Market

Data offers valuable insights that can help

refine your interactions with customers,

improve the effectiveness of marketing,

and increase ROI

Introduce key performance indicators

(KPIs) such as return on ad spend (ROAS),

click-through rate (CTR), and cost per point

(CPP)

Identify key areas for improvement using

your KPIs

CUSTOMER

TECHNOLOGY

CUSTOMER

Use marketing analytics to make your marketing work harder

In the Trenches Takeaway:

Page 20: Marketing in the Trenches

20

TEAM

TEAM

Page 21: Marketing in the Trenches

21

Tip No. 13

“To maximize your company’s

growth, you need people

throughout the organization

with the right skill sets and

who are passionate and fully

engaged with the tasks at

hand.”

Surround Yourself with the Right People

Build the right teams by focusing on the

intangibles as well as expertise & skill sets

Develop a rigorous recruiting process that

prioritizes the qualities and values that

represent you company

Use consistent, constructive performance

reviews to keep your team strong & always

improving

CUSTOMER

TEAM

CUSTOMER

Invest in finding the right people, and it will pay off

In the Trenches Takeaway:

Page 22: Marketing in the Trenches

22

Tip No. 14

“The motivation of your

team via internal

marketing builds a

sense of partnership

and purpose that is key

to your organization’s

success.”

Market Internally

Companies with engaged workers generate

up to five times higher shareholder returns

over a five-year period

Inspire your internal team to make an

emotional commitment to your organization

Tactics may include internal e-newsletters,

company events, & mentorship programs

CUSTOMER

TEAM

Ensure every employee knows about your

message, brand, and leadership principles

CUSTOMER

Show your team why the should love your company

In the Trenches Takeaway:

Page 23: Marketing in the Trenches

23

Tip No. 15

“Word of mouth

continues to have

exceptional power. Tap

into the valuable

personal relationships

that your employees

bring to the company.”

Leverage Your Internal Team

92% of customers trust recommendations

from family and friends above all other

forms of advertising

View employees as a promising source of

referrals

Devise a formalized strategy for leveraging

your team’s connections

Train your internal team to think like

marketers

CUSTOMER

TEAM

CUSTOMER

Let your employees become your best brand ambassadors and a key marketing channel

In the Trenches Takeaway:

Page 24: Marketing in the Trenches

24

Tip No. 16

“Companies that view

marketing and sales as

a symbiotic partnership

outperform their

competitors who view

them as separate

silos.”

View Marketing and Sales as One

57% of top performing companies have

highly aligned marketing and sales

functions

Have your marketing team do a deep dive

into your sales process

Establish a structure for consistent

communication & meetings

Integrate your marketing and sales

platforms

CUSTOMER

TEAM

CUSTOMER

Align and integrate your marketing and sales functions to unlock efficiencies

In the Trenches Takeaway:

Page 25: Marketing in the Trenches

25

Tip No. 17

“Optimize your sales

force and make it a

marketing channel that

efficiently drives new

business and grows

revenue.”

Treat Your Sales Force as a Marketing Channel

View your sales force as an extension of your

marketing plan – and hold it to the same

standards as you hold your marketing channels

Standardize your sales process &

coordinate your sales force’s calendars

Set clear expectations and KPIs for

salespeople

Equip your sales force with the necessary

insights and marketing collateral to shine

CUSTOMER

TEAM

CUSTOMER

Turn your sales force into a robust marketing channel

In the Trenches Takeaway:

Page 26: Marketing in the Trenches

26

Tip No. 18

“Outsourcing is a viable

way of filling

knowledge gaps and

accessing specialized

expertise.”

Your Staff Isn’t the Answer for Everything

Specialized expertise is difficult and costly

to develop internally

Outsourcing provides an average of 15%

reduction in costs (when used strategically)

Consider the balance of expertise on your

team and the strengths & weaknesses of

your company to determine if outsourcing

may be right for you

CUSTOMER

TEAM

CUSTOMER

Call in the experts when necessary

In the Trenches Takeaway:

Page 27: Marketing in the Trenches

27

Tip No. 19

“Have you ever left a

meeting feeling

equally or more

confused than when it

began? If so, you’re

not alone.”

Time is Money

Unnecessary meetings cost U.S.

businesses a total of approximately $37

billion each year

Develop a company-wide strategy for time

management

Cut down on meetings, and be sure to

adhere to meeting agendas and establish

next steps when they are necessary

CUSTOMER

TEAM

CUSTOMER

Define expectations and standards to improve time-management and efficiency

In the Trenches Takeaway:

Page 28: Marketing in the Trenches

28

STRATEGY

STRATEGY

Page 29: Marketing in the Trenches

29

Tip No. 20

“Studies show that

marketers who have

formalized plans

achieve their goals more

efficiently and more

cost-effectively than

those who do not.”

Start with a Detailed Marketing Plan

Businesses that use strategic marketing

plans are 12% more profitable than

businesses that do not

Evaluate and prioritize your company

needs, strengths, & weaknesses - and

allocate your budget accordingly

Craft an annual marketing blueprint with

detailed calendars for each initiative

CUSTOMER

STRATEGY

CUSTOMER

Set clear goals and create a detailed marketing blueprint to get you there

In the Trenches Takeaway:

Page 30: Marketing in the Trenches

30

Tip No. 21

“A combination of solid

strategy and detailed

execution is

mandatory in order to

achieve superior

returns.”

Execution, Execution, Execution

Use the same obsession to detail when

executing your strategy as when developing it

Assign deadlines and responsibilities for

each stage of every initiative (consider

using Gantt charts to do so)

Align the implementation of your strategy

both horizontally and vertically

Be prepared to adjust your strategy in real

time

CUSTOMER

STRATEGY

CUSTOMER

Over-invest in implementation to reap the full benefits of your strategic vision

In the Trenches Takeaway:

Page 31: Marketing in the Trenches

31

Tip No. 22

“In terms of marketing

tactics, doing a little

bit of everything is

almost as bad as

doing the wrong

things.”

Set the Right Priorities

Don’t try to be everything to everyone

Use your marketing plan to guide your

investment of time and money

Set fewer priorities, but focus on

implementing them perfectly

Ensure that your entire team is aligned with

your company priorities and placing those

objectives above all else

CUSTOMER

STRATEGY

CUSTOMER

Set priorities early in order to ensure focused, productive initiatives

In the Trenches Takeaway:

Page 32: Marketing in the Trenches

32

Tip No. 23

“Long-term thinking is

crucial to building brand

awareness and value:

So is the short-term

thinking that drives

profits and cash flow.”

Plant Short-Term Seeds While Building for the Long Term

Long-term marketing investments generate

value over time even though they may not

drive revenue immediately

Long-term strategies establish brand

awareness and value

Short-term strategies trigger the sales that

are needed now

Balance the two to achieve your desired

growth

CUSTOMER

STRATEGY

CUSTOMER

Balance the need to generate profit now with building a long-term foundation for growth

In the Trenches Takeaway:

Page 33: Marketing in the Trenches

33

Tip No. 24

“Branding creates a

distinct and lasting

image in the mind of

the consumer whereas

marketing is the

delivery and promotion

of that image.”

Understand the Difference Between Branding vs. Marketing

Strong brands are built daily through your

employees and their interactions with

prospects, customers and partners

From day one, all of your actions and

decisions are part of your brand

In contrast, marketing is how you

communicate your brand to the world

Today, the power of your brand becomes

more important with the rising influence of

earned media

CUSTOMER

STRATEGY

CUSTOMER

Branding is your company’s DNA: your values, culture, mission, and principles. Great

companies always start with brand

In the Trenches Takeaway:

Page 34: Marketing in the Trenches

34

Tip No. 25

“Complacency is your

worst enemy, and average

effort seldom moves the

needle. Work harder, set a

faster pace, and run

alongside your team as

your business transforms.”

Hustle: Your Secret Weapon

You should be packing 11 hours in an 8-

hour work day

Make every moment count and seize every

opportunity, and you’ll see rapid and

sustained growth

Set the right example, and those under you

will do the same

Work fast, but never at the cost of quality

CUSTOMER

STRATEGY

CUSTOMER

Hustling starts with you, so be ready to put in the hours and energy to make it happen

In the Trenches Takeaway:

Page 35: Marketing in the Trenches

35

Bonus Tip

“Marketing is a powerful

engine for growth and

success. Stay fully

invested in your

company’s vision in

order to achieve

superior returns.”

View Marketing as an Investment – Not an Expense

Marketing is an investment that should be

viewed over the long term

If you only focus on ROI-backed initiatives

you will be losing out on the power of the

intangible.

“Marketing and innovation are revenue

drivers whose end result is a new customer

- all other activities are an expense” –

Peter Drucker

CUSTOMER

STRATEGY

CUSTOMER

Change your “expense” mindset or be ready to become left behind

In the Trenches Takeaway: