The MarTech Conference is in Boston starting Monday evening. (If you want a free Expo pass, you can get it here — courtesy of Sales & Marketing Innovators — and please come to the expert panel at 7pm Tuesday on How Sales and Marketing Strategies Work Together to Drive Revenue. This also is free – you need the Expo pass to get in – and run by SAMI.)
Could your company afford to spend more than twice as much to acquire each new customer?
In this post I review this and what it means for the efficacy of inbound marketing.
There are many moving parts in a successful paid search ad campaign. Check this out: Firestone shows how it’s done right; Meineke not so much.
If I search for “car tires” I see these ads for Meineke and Firestone:
More channels and tools exist to reach, persuade and gain customers than ever before. A new channel – social media, mobile, the Internet of Things, etc. — is added seemingly every year. Thousands of companies now offer some flavor of marketing technology in dozens of categories. Many studies have shown that companies that market more grow faster.
But the result of this upheaval for many marketers is a feeling of innovation overload. They are constantly bombarded with conflicting claims from vendors. They understandably don’t even know what all of those dozens of channels and types of martech do, let alone how to use them to produce optimal results.
The Bullseye Marketing FrameworkSM is my response to this challenge.
Eight out of 10 small businesses fail in the first 18 months. I ran my own small business for a dozen years, taking it national and then selling it. I have also acted as vice president in three other businesses with 10-100 employees, coached CEOs, mentored startups at MIT, and have many small businesses as clients. As a result of this experience, and talking with countless other small business executives, I believe that these are the five main reasons why so many small businesses fail:
While 3 out of 4 small business owners report they don’t want to grow at all, that they’re comfortable at their current size, I’m talking to mid-market companies and they do want to grow. Some executives laugh when I ask this question, as if the question is obvious: everyone wants to grow faster.
The Internet is supposed to be the great leveler. Even the smallest company can compete on the global stage, and many customers won’t even know, or care, how small they are.
But to win you need to compete, and my research indicates that many SMBs aren’t.
A sales and marketing audit, one of the services that revenue + associates provides, supplies a company with insights into the strengths, weaknesses, opportunities and threats of its sales and marketing strategy and operations. It can be a valuable first step in a company increasing revenues and profits through measurable improvements in its sales and marketing.
Fundamental to the audit and its recommendations is our belief that revenue is the responsibility of the entire company. It’s only when all of the company is truly working together to deliver value to customers that sales and marketing have something to promote and sell that customers will buy.