How To Become Remarkable with Inbound Marketing by Jonathan Elder
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Presentation delivered at the Digital Marketing Show 2013 (www.digitalmarketingshow.co.uk)
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How To Become Remarkable with Inbound Marketing by Jonathan Elder
- 1. “The 30-Minute Marketing Plan” How To Become Remarkable with Inbound Marketing – Reality Marketing Jonathan Elder Square 2 Marketing
- 2. Warning! You might have to move out of your comfort zone to accept this type of marketing! (I apologize in advance…not really)
- 4. 2013 – A New Era Begins • Tools we didn’t have in 2003: – iPhones, iPads – Video (YouTube) – Facebook, LinkedIn – PR Newswire – Twitter – Blogs (Wordpress) – Web 2.0 (or real time) – Pinterest, Google +
- 6. Strategic Messaging – Four Key Questions 1. Who Is Your Target Market? 2. What Pains & Problems Do They Have? 3. How Does Your Company Currently Solve Those Problems? 4. How Can You Make Those Solutions “Remarkable”
- 7. Strategic Messaging – Four Key Questions 1. Who Is Your Target Market? 2. What Pains & Problems Do They Have? 3. How Does Your Company Currently Solve Those Problems? 4. How Can You Make Those Solutions “Remarkable”
- 8. Strategic Messaging – Four Key Questions 1. Who Is Your Target Market? 2. What Pains & Problems Do They Have? 3. How Does Your Company Currently Solve Those Problems? 4. How Can You Make Those Solutions “Remarkable”
- 9. Strategic Messaging – Four Key Questions 1. Who Is Your Target Market? 2. What Pains & Problems Do They Have? 3. How Does Your Company Currently Solve Those Problems? 4. How Can You Make Those Solutions “Remarkable”
- 10. Strategic Messaging – Four Key Questions 1. Who Is Your Target Market? 2. What Pains & Problems Do They Have? 3. How Does Your Company Currently Solve Those Problems? 4. How Can You Make Those Solutions “Remarkable”
- 11. Reality Marketing™ Five-Point Marketing Check: Quantifiable Prospect-Focused Goal Oriented High ROMI Remarkable
- 12. Reality Marketing™ Five-Point Marketing Check: Quantifiable Prospect-Focused Goal Oriented High ROMI Remarkable
- 14. Reality Marketing™ Five-Point Marketing Check: Quantifiable Prospect-Focused Goal Oriented High ROMI Remarkable
- 16. The Red & Blue Test It’s About Them - Not You! Or No! Yes!
- 17. Reality Marketing™ Five-Point Marketing Check: Quantifiable Prospect-Focused Goal Oriented High ROMI Remarkable
- 18. Set Marketing Goals: Revenue: from £10MM to £12MM Average Engagement Size: £25,000 Close Rate: 50% Need 160 quotes and proposals to get 80 new clients Need to generate 400-600 contacts to get 160 opportunities Now build a Marketing Machine™ to generate 400-600 contacts (qualified and unqualified)
- 19. Reality Marketing™ Five-Point Marketing Check: Quantifiable Prospect-Focused Goal Oriented High ROMI Remarkable
- 21. Thursday, October 22, 2012 from 2:00 PM to 5:00 PM (ET) Thursday, October 22, 2012 from 2:00 PM to 5:00 PM (ET) Free Free October 22, 2012
- 22. Reality Marketing™ Five-Point Marketing Check: Quantifiable Prospect-Focused Goal Oriented High ROMI Remarkable
- 23. Your Job: Find Ways To Position Your Company As “Remarkable”
- 24. The Challenge Of Being Remarkable Are you a purple cow?
- 25. Three-Step Advertising The way it used to be: The way it is now: Advertising Advertising Public Relations Referrals Provide Free Provide Free Resources and Resources and Build the Build the Marketing Marketing Machine Database Machine Database Sale Sale
- 27. Guide Us, Don’t Sell Us
- 29. The Reality Marketing™ Sales Funnel
- 31. Marketing Content is King (now more than ever) • Public Content – Marketing messaging • No Risk Content – White papers, tip sheets • Low Risk Content – Demo, webinar, consultation • Sales Content – PDFs, sales presentation They must KNOW, LIKE & TRUST you…
- 32. We Are On A Mission… Comprehensive 30-Minute Marketing Analysis with Website Grade Review Square2Marketing.com/contact
- 33. Questions? Jonathan Elder +44 (0)7736 237737 jelder@square2marketing.com Square2Marketing.com/contact
Hinweis der Redaktion
- Good afternoon and thank you for giving up some of your valuable time this afternoon to talk about marketing. My name is David Gerhardt and I am a senior marketing strategist at square 2 marketing. I have nearly 30 years of marketing experience and I look forward to sharing some of expertise with you over the next 45 minutes. My goal today is to push you out of your comfort zone and to make you think a little bit differently about your sales and marketing, a by-product of this is that you will pick up some nuggets that will help you enhance the value of your company. Everybody has challenges with sales and marketing and to be perfectly honest, we do things a little differently. My goal today is to move you out of your comfort zone because you have reached a certain revenue level in your company and you’d like to get to the next level; by definition that space in between has to be a little uncomfortable because you’ve got to try some new stuff. So I’m apologizing in advance for moving you out of your comfort zone, but not really; that’s my exact goal this afternoon.
- So the first thing I want to talk about is this dramatic shift in understanding buyer behavior. There is such a current going on now in the realm of sales and marketing and a lot of people aren’t aware of it. I was with a prospective client, they’re a 75 year old electrical supply company in Philadelphia. I asked him what he was doing and he said, “We do it exactly the way granddad did it when he started the company 75 years ago.” And that might be ok for what it was maybe prior to 10 years ago, but now there’s such a dramatic shift going on and we have to think differently.
- So think about all of the tools that we have in our marketing toolkit today that we didn’t have 10 years ago. We have things like Iphones, YouTube, LinkedIn, Facebook, PR Newswire, Twitter, Web 2.0 tools like video and blogs and ways to be interactive. Yelp. Do you know what Yelp is? It’s a user review site for restaurants and other hospitality. It’s really important because my whole point is that you have to know about these new tools. Our office is in beautiful Bucks county Pennsylvania and there’s a lot of bed and breakfasts there and I got a call from one of the most well known bed and breakfasts in Bucks county. The owner says “Hey I want you to come over, talk about some marketing, we’re not quite filling the rooms like we used to.” So of course I make the meeting, hang up the phone, and the first place I go to look to see what people are saying about this bed and breakfast is Yelp. And of course when I got there, there’s some conversation about rooms are a little dusty, food isn’t as good as it used to be, staff is a little crabby. So of course I call the owner back and I say, “Hey before we get together for our meeting I just wanted to let you know about some of the results that I saw on Yelp.” And he said, “What’s Yelp?” That’s a big problem. Because before you can do marketing, maybe you want to fix some of the operational issues that’ll cause people to tell their friends and family and generate a lot of referrals which we love. So my point here about all of these new tools is that if you want to enhance the value of your company one of things you need to do is be aware of them so that you can participate in the conversation that might be going on right now about your business.
- Before you get started on any marketing campaign, I want you to think of one phrase, strategy before tactics. A lot of people jump right to the tactical things in marketing before they talk about the strategy. A quick example of that is I can’t tell you how many times a week I get a call where someone says, “Hey can you build me a new website?” And I say, “Absolutely! What do you want me to say on it?” Because the strategy or the voice of your company is so much more important than how your website looks.
- So I want to take you through a couple of quick steps to get you thinking about strategy before tactics that you can apply to any marketing tactic that you get involved with. These are the four essential questions:
- The first question is, “who is your target market?” To give you an example, if you were selling a service to businesses, and I ask you who your target market was, you may say “small business owners.” But you really need to qualify that – and if I pressed you on this, the real answer might be small business owners in the mid-atlantic region with less than 40 employees who do not offer health insurance. The key to understanding your target market is to always be as narrow, narrow, narrow as you possibly can. A good friend of mine says that the energy to light a lightbulb could light an entire room, but that same energy focused into a laser can actually cut steel. We want to laser in on people who give us the best chances at success.
- Once you understand your target market, you need to understand what pains and problems they have. A lot of times companies talk about themselves and they don’t like to talk about their prospective clients. To make my point, If I asked you to talk about your kids you could talk probably talk about them all day, right? But the second I start talking about my kids, you’re polite for a minute or two and then you zone out. Why? Because it’s about me, it’s not about you. It’s the same thing with marketing. How many times have you gone to a company’s website and on the their homepage they have a picture of their building, and all of their delivery vans in a half moon with all of the employees waving? That’s because it’s easy to talk about yourself and your 3,400 square foot facility, and the fact that you’re family-owned and operated, and that you’ve been around for 23 years. What’s not so easy is to stand in the shoes of your prospective clients, understand what problems they have and then demonstrate how you could solve those problems. So, how do you know what these pains and problems are? It’s the first thing they usually say to you in that very first call. “Yeah, I’m having some problems integrating my Oracle database my sales force program and I don’t know what to do. I need a company like yours.” And that’s the pains that they have. So, it could be “we don’t have the internal resources to integrate a new project”, “we only have a three-person IT department—we need extra bandwidth”, “we don’t have the expertise in-house to tackle this new project”. Those are the pains of the people.
- So, the third step, which is very easy, is how do you solve those pains? So, when I call and say, “I can’t link my Oracle database to my sales force.” Your company is likely to say “We’ve done it for a million people—we can figure it out.” Why -- Because it’s the solution that your company provides. Quick note: You want to make sure that every single one of your solutions rolls up to a pain. I had a custom software designer client of mine a couple of years ago and they said, “Yeah! Check out this cool back-end where we have all of these interesting invoices and paperwork.” I asked, “Does anyone really want to see that?” And they said, “Well, no one really uses it, but we thought it was cool.” There was no pain that I have to see all of my paperwork on the backend and that’s why they developed a solution without a pain. Obviously, this is a mistake you want to avoid.
- Now, here’s the fourth part, which is the most important part. How can you position those solutions as remarkable? You have to position your company in a way so remarkable that people say, “Wow! I’ve never heard that before!” or “Hmm…that’s interesting.” That’s the whole point—to make yourself so remarkable that people talk about you. The definition of remarkable is the ability for someone to remark about you. Using the example I just gave about the oracle software project, If I called you and you said “I know that you have an important project and hitting the deadline of hooking up your oracle database to your sales force software could be quite challenging. Well, our reverse timeline system lets us establish when you need this project done. Then we work backwards establishing six milestones to make sure that the project is done and every time we pass one of those milestones we send you a text message to your cell phone to let you know that everything’s on schedule.” Now that’s a little bit different than “we’ll figure it out, we’ve done it for a million people.” Now of course I’m just making this up but the point is, if I called 3 companies and I got that story, I’m like WOW! These people have it going on; I’ve never heard that before” and it would help us to go down the road a little bit further in the sales conversation. Positioning your company as remarkable is the biggest challenge you have. In fact, one of the takeaways from today’s webinar is, please, how can you position your company as different from everybody else. After the webinar, do this scratch-out/drop-in test. Go to your competitor’s website and scratch-out the name of your competition and drop in your name, and if the websites are exactly the same, you’ve got big problems. That’s where being remarkable stands out.
- So I want to take you through a five point checklist to figure out how you could have really effective marketing and enhance the value of your company.
- The first thing is that every single thing you do has to be quantifiable.
- So here’s one of my favorite billboards. Let me ask you a question. Budweiser. The great AmDavean lager. If I went to the marketing manager at Budweiser and I asked her, “Can you tell me how many cases of beer you sold from this specific billboard, could she give me the answer?” No way. This is a whole branding, institutional advertising thing that I know nothing about. In fact, if Budweiser called me tomorrow and said, “Dave we want you to take over the Budweiser Marketing” , I wouldn’t even know where to begin, because its not the kind of marketing that small and medium sized businesses do. But what if I added an extra line to the billboard that said for the 9 Greatest Superbowl Party Ideas go to bud.com slash superbowl. If I only used that address on the billboard campaign then could I quantify how many people are responding to my billboard campaign? Sure
- Second part, prospect focus. I eluded to this earlier when I talked about it’s about them and not about you. It’s about your clients that are going to be writing you checks. So you have to make sure it’s about them.
- Now here’s that company I told you about that spreads fertilizer on your lawn to make your grass green. How could that possibly be remarkable? Well, I don’t know what it’s like where you live, but in Philadelphia, around March 15th I come out of my house and look at my lawn and say, “That’s awful! It’s all brown and beaten up from the winter. I’m going to get someone come fertilize my lawn.” So the old model was that you would call a company like TruGreen or ChemLawn and, if you were lucky, they’d come out in a couple of days. The guy comes with that stick with the wheel at the end and he walks around your property doing the measurements. Then he goes back to the office and talks to his manager and a couple days later, they call you and say, “It will be $49 an application.” When you call Happy Lawn and show interest in having your lawn fertilized, they ask for your address and they pull up Google Maps, so they can see a visual of your property, and then they pull up some public tax records so they can know how big your lot is. And then they say, “Well, based on what we see here, you have a couple of weeping willows in your backyard and you’ve got about a half acre, it’s going to be $49 an application, would you like to get started today with Visa, Mastercard, or AmDavean Express?” So the remarkable thing here is that they have cut the sales cycle from 2 weeks to 2 minutes and they’re signing people up before the big competitors can even get a guy out there to do a quote. So I just wanted to make a point that sometimes it’s not in the product or service that you provide but in the way that you provide it that could be very very remarkable as well.
- Eric
- Third thing, goal oriented. A lot of people ask me, how big should my marketing program be? How much should I spend on marketing?
- So I have a very simple way you can figure that out. You only need 3 pieces of information: You need your revenue goals. In this case, we want to go from 10 million to 12 million dollars. You need your average engagement size (what do people spend approx. at your company every year?) And what’s your close rate? Out of every 10 people, how many do business with your company? In this case its half. Now you can figure out how much marketing you need. In order to get the extra 2 million dollars, if we divide that 2 million dollars by $25,000, which is our average engagement size, we know we need 80 new clients. If our close rate is half, we need 160 really good meetings to get to our 80 clients. And here’s the thing you don’t know. In order to get the 160 really good meetings, you need, on average, 3 to 5 times that amount of contacts because not everyone’s going to be qualified, you get some little fish in there, but that’s ok, we’ll take the little fish in order to land the big fish. So once again, if we know that we need 160 quotes to get to 80 new clients, and 3-5 times is approximately 400-600, now we have to build a marketing plan that generates between 400-600 contacts.
- High return on marketing investment is point number 4. If you remember my story earlier about the commercial insurance guy who was spending a lot of time advertising on local cable TV, he was spending $6,000 per lead, which is very high for his industry. We want things that have a high return on marketing investment.
- So here’s a company called Hard Metrics, and they sell software that manages call centers. So think of big utilities, cable companies, that have 200-300 people in a room on the phone, they have the software that manages that efficiency. What they do is have a quarterly webinar. A webinar not unlike the one you are participating in right now. They usually get about 50 people to sign up every quarter. Out of the 50 people that sign up, about 25 actually show up because it’s free and there’s no skin in the game and that’s a typical drop off for a webinar. And out of those 25 people that sit in on the conversation, with not only them, but a vendor, and a client and they talk about how they solve some problems, you get about 5 people that want to talk to their sales team about how they can get some of those solutions. Out of the 5 they usually close about 1. Well the average engagement size is $200,000 for an initial set of this software modules. So if you think about it, if they do it quarterly they’re getting 4 clients, which doesn’t sound like a lot, but they’re generating $800,000 worth of business from a webinar that costs $50 a month for a little bit of Webex software and time and effort that goes into creating the webinar. So, you can see that this is a huge ROI, because they could get the same 4 clients by going to the industry tradeshow, but obviously that would require a lot more investment and time.
- And the 5th point is remarkable, and I touched on this earlier because it is so important. Your job as CEOs is to find ways to position your company in a way which is so remarkable that people talk about you, and when people talk about you, you get a referral or a word of mouth introduction and that doesn’t cost a dime, and I know that that fits into your budget.
- One of the ways you can enhance the value of your company is to position it as remarkable. In fact, of all the things you do, this should be near the top of your list – With this in mind…
- I want to tell you a quick story now about being remarkable, it’s not my story, it’s by Seth Goden, who’s a popular small business marketing author and it’s called “The Purple Cow”. And basically, if we decided to blow off today’s event and we all jumped in a bus and went for a ride in the country, soon we would start to see some cows. Soon, someone would say, “Hey there’s a cow” and the rest of us would be like yeah whatever and soon all of the cows would blur together because there is nothing remarkable about a brown cow. But then we come around the bend and we see a purple cow. What would we do? We’d stop the bus, jump out, I might post pictures on pinterest, you might be calling everyone you know, someone else might be texting, and the driver is placing pictures on Facebook. Before you know it, there are now 500 people standing outside of the fence looking at this purple cow because it is so remarkable. Once again, that is your job to generate so much interest in your company because you do things differently that you get lots of referrals, traffic to your website, and obviously some introductions.
- So I want to introduce you to 3 step advertising. As opposed to just advertising and hoping for the sale like the way we used to, and don’t get me wrong, 10 years ago as a marketer it was very easy for me to generate response for clients because we didn’t have so many tools in the marketing toolkit. We had: radio, TV Billboards Print the little plane that pulls the message across the beach, and we were good. But now there’s: local cable TV, the internet, social media, There are a million different ways to get your message out, so we have to be a little bit smarter. And what I want you to do is think about adding an extra step to your marketing process. We’re still going to do Advertising, PR, and ask for referrals, which are the only 3 ways people can hear about your business, and don’t get me wrong, we are always going to ask for the sale, but we want to add this extra step which is the prospect database. And by the prospect database, all we want to do is offer lots and lots of good content to people so that they would give us their contact information in exchange for this content. A typical example would be the Whitepaper that you download on a webpage in exchange for your email address. And what happens is all of those people have volunteered this information so they go into this marketing database and we already know which people are interested. Do you think that your prospects would gamble their email address in order to get a free report? Sure. Now wouldn’t I get a lot better response if I said “Free Ipad” on your website? Sure. The problem there, is we get a lot of people who want Ipads, not people who want to buy from your company. So we want to make it so that it is very targeted to qualify in the people we want. All of those people that qualify in, we just have to market to them. It becomes quite easy. Cuts away all of the fat and you can go right after the people that have stepped forward, raised their hand and said, “I’m interested. Tell me something about your company.” And this is how the marketing machine works.
- Next, I want to talk about the importance of guiding prospects through the sales process
- I want to tell you a story about this change in buyer behavior and how it relates to the guided sales process. Because of the internet, we literally have a tremendous amount of information at our finger tips. And we have finally reached a point where we are comfortable accessing this information. We are now the smartest, savviest most knowledgeable consumers who ever existed For proof Google recently touted 9 out of 10 consumers go to a vendors site before making a significant purchase. Why, so we can conduct our own research. But we are not content just going to the vendors site for research, we are also using social media sites like Facebook Linked and twitter To get feedback from our friends, family, and colleagues on prospective purchases and vendors. And we are using user review sites like yelp, Angie’s list, and trip advisor to get independent reviews from consumers who have made purchases from the vendor we are considering or purchased the product we want. And if that wasn’t enough, we are also using third party sites like consumer reports to verify and validate what we have learned. So, how has all this accumulated knowledge changed buyer behavior? Because of this research, when we are ready to make a purchase, we not only know what we want, but what we want to pay. So when we get to the vendor, we don’t need a salesperson to sell us. In fact, we don’t need a sales guy, we need a sales guide who will guide us through the sales process, but we don’t need a salesperson to sell us. To give you an example, if you purchased a car recently, before you even stepped foot in the dealership, you probably went to …. ….Now that you have a better understanding of this change in buyer behavior, including consumer’s preference to be asked and not be told and to be guided and not sold, how can you use this information to your advantage? The first step you should take is to fire your sales team --- and then immediately re-hire them as sales guides. Why? Because consumers rather deal with a sales guide. And when we treat consumers the way they want to be treated, they will be happier, more satisfied buyers. And when your buyers are happy, and satisfied -- they will buy more.
- Typically, a lot of companies or CEO’s view their sales and marketing a little cockeyed. And what I mean by that, is they usually depend on the sales team to bring in the brunt of the sales and then they look at marketing as just support for the sales team. Well, that’s changing radically now. I want you to consider flip flopping from 75% sales and 25% marketing to 25% sales and 75% marketing. And this is a radical change for a lot of companies who depend on people out there beating the bushes and knocking on doors to get the sales, but it’s just a little more effective, and it goes back to the way that we want to treated as buyers.
- There are 4 steps in the reality marketing sales funnel, with each step representing 25% of the activity. The first step in the top of the sales funnel is just introducing to your company. These are things like internet marketing, SEO, pay per click, getting them introduced to you. When you get them to your website you want to convert that visitor to your contact. If we had 10,000 visitors a month to our website that’s great. But if we had 10,000 visitors to our website and 200 offered up their contact information ‘cause they were interested in doing business with us, then that’s greater. And that’s the point, how do we convert people once they get to your website? How we do that is what I said earlier about the NRO or no risk offer. White papers, tip sheets, videos, all things that people will be glad to trade in exchange for their email address. Once we have their email address, we move them down to the LRO or low risk offer. And the LRO is just getting a little bit more intimate. Free consultation, demo, webinar, workshop, whatever is appropriate for your company. The reason that this is a LRO and not a NRO is that if you ask for someone’s email address and you have a strong privacy policy, then there’s really no risk in them giving you their email address. Here though they have to give it some time to listen to the presentation, they have to park, there’s a little bit more risk in getting closer to the company. But after they do sit through your LRO and see how your company is remarkable well the last step becomes quite easy, and that’s the offer to do business. Think about how happy your sales team is going to be that they have attracted someone who has… read about you on your website read your white paper watched your videos then had a consultation and have heard all of the remarkable things …now it is a much easier sale to close with all of this good content. And that’s the secret of a good sales funnel is that you’re working them along the way. Once again , 25% 25% 25% for a total of 75% marketing and the last 25% is the sales team and they become more of a closer than a prospector. And that makes it easy for them, easy for you, and you can control the entire story of how you want people to know about your company through the first three steps.
- Once they step up and say they’re interested, that’s Point A, where we first get their contact information. And our job is to build a marketing program that continually builds a case why your company is the obvious choice to do business with. Our job is to move them to Point Z, where we get the big bag of cash which, of course, will enhance the value of your company, and is why you are participating in this webinar. How we do that is by building a program that is specific to your company and target market. So let’s say that you are a fabulous marketer and exhibit a trade show and a prospect comes to your booth. The prospect says, “I’m using one of your competitors but I’m interested.” Well they have some kind of pain that they are interested in switching or they wouldn’t be stopping by your booth. You get their business card and you put them on the marketing program. You send him a little box via UPS, then reach out with a phone call then they get your monthly email they read about your company in a trade periodical another email goes out and so forth and so on When does the person buy on this timeline? We don’t know. They could buy at any time. What you don’t know is that your arch competitor is working with this prospect. Right here, the competitor drops the ball on a critical project. Well who’s the first call that he’s making? Your company. We don’t want them to start looking for another vendor at that time, we already want them… To have heard about your company read your emails and whitepapers watched your videos and heard your remarkable stories. So now, once again, it becomes quite easy for your sales team to close that deal. And that’s where a marketing machine works so effectively. The metaphor is pretty straightforward. If you have a manufacturing facility, raw materials come in one side and finished goods come out the other. In a marketing machine leads come in one side and of course, clients come out of the other. And that’s what we want, a system to constantly be introducing new people to the company and then spitting out sales on the other side.
- Content marketing is the buzz phrase of 2012 Why -- Because of how buyer behavior has changed and how buyer’s demand info from the internet – just like I explained in my car buying story We need to match up with where consumers are in the buying stage with the content that is available to them. Some people are surfing. That’s where the public content comes in – you want content so they can find you (content that gets you found). SEO also plays a strong role here. NROs are good for when prospects come to your site but are not ready to buy. For those who are feeling like they want to get a little closer to your company, that’s where the LRO comes in Finally, when they are ready to buy we need good sales content to support why we are the obvious choice to do business with All along the way the content is intended to build a relationship and trust between your company and the buyer
- But wait there is more. As a keiretsu sponsor, at Square 2 Marketing we are happy to talk to you about your marketing or your website. Use the URL on the screen to fill out our online contact form
- I will now take your questions