business development for startups - part 2 - the secret to maximizing your marketing roi: aligning...

Stephen N. Davis

“Partnering With Clients to Drive

Sustainable Profitable Growth”

Secrets to

Maximizing Your

Marketing ROI: Aligning Sales

& Marketing

2000 - 2012 © CXO Advisory Group

John Wanamaker

“Half the money I spend

on advertising is wasted,

and the trouble is,

I don’t know which half.”

http://en.wikipedia.org/wiki/File:Johnny-Wanamaker2.jpg


9 Steps To Sales Success


The 9 Steps

1. Get Into The Mind Of Your Buyer

2. Develop Your Buyers Profile

3. Be Where YOUR Prospects Are

4. Align Sales & Marketing

5. Develop Your Inbound Marketing Program

6. Automate And Track

7. Measure Marketing On Contribution to Revenue

8. Analyze Quality of Leads Generated And Tools

9. Improve Your Tools And Programs


Business Development Workshops

Choosing the Right Sales Channel for Your Startup

Secrets to Maximizing Your Marketing ROI:

Aligning Sales & Marketing

Networking Your Way to Business Success

• Tuesday, July 24th

Maximizing LinkedIn for Business Development


Get Into The Mind Of Your Buyer

1


Develop Your Buyers Profile

2


Develop Your Buyers Profile

Who is your “ideal customer?”

Who is typically the “key decision maker?”

How do they make their decisions?

Where do they collect their information to make a

decision?

What are their critical business issues?

What is their buying process?

Where do they buy?

What is the Sales Cycle?

What are the “trigger events”


Be Where YOUR Prospects Are.

3


Your Most Critical Pieces for Revenue Growth

Marketing

Sales


“Your Marketing Leads

S*CK!!!”


“We Send Qualified Leads

To Sales & They Fall into a

Black Hole”


“Sales Sells Product to the

Wrong People!”


“Marketing Doesn’t Provide What We

NEED!!”


% Of Marketing Materials UNUSED BY SALES

Source: AMA

90%


“Sales Doesn’t Have a Clue About

BRANDING!”


“I Can’t Believe Sales Asked that

Question. It’s in the Literature!”


40%

Source: CMO Council

Sales Spends

Of Their Time Creating Their Own Marketing Materials


= $57,000

Source: IDC Sales Enablement Research

10 Min/Week Additional Selling Time

Additional Revenue Per Year


“Marketing Doesn’t Involve Sales in its

Planning!”


“Sales Doesn’t Provide ANY Feedback!”


Align Sales & Marketing

4


8%

Of Corporations Report “TIGHT ALIGNMENT”

Between Sales & Marketing

Source: Forrester


5.4%

Faster Growth on Year-to-Year Basis Than Competition

Source: MarketingProfs

Better Aligned = More Business


38%

Better at Closing Proposals than Non-Aligned Competition




36%

Less Churn of Their Customers To Competition




Marketing and Sales look at the world through different lenses


Marketing Looks For Mr. Right


Sales Wants Mr. RightNOW


When Their Isn’t A Common Profile

You End Up With


It Starts With Communication

Attend each other’s staff

meetings

Marketing needs to get into

the field with sales

• Speaking to customers

• Watching Demos

• Listening to presentations


“Marketing & Sales Should Jointly

Define a “Sales-Ready” Lead!”


Develop a Common Buyers Profile

Who is your “ideal customer?”

Who is typically the “key decision maker?”

How do they make their decisions?

Where do they collect their information to make a

decision?

What are their critical business issues?

What is their buying process?

What is the Sales Cycle?

What are the “trigger events”


Lead Definitions Impact Marketing Effectiveness

0%

10%

20%

30%

40%

50%

60%

70%

80%

Return on Marketing Investment

75%

25%

Companies Supporting Common Lead Definition All Others

Source: Aberdeen Group 2010

Cu

rren

t P

erc

en

tag

e


Lead Definitions Impact Sales Effectiveness

16.5%

10.5%

12.7%

3.0%

4.9%

1.3%

3.2%

0.2%

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

Bid-to-Win Ratio Time To Close Return on

Marketing

Investment

Lead to Sales

Conversion

Companies Supporting Common Lead Definition All Others

Source: Aberdeen Group 2010

Ye

ar

Ove

r Y

ea

r C

ha

ng

e


Develop Your Inbound Marketing Program

5


“ If the expenditure doesn’t create a lead, or directly help sales close a prospect, You SHOULDN’T do it”


The Marketing Landscape has Changed…

“Buy My

Product”


Ads are Everywhere

People see and hear between 1,000 and 3,000 advertising messages/day 87,600,000 throughout their lives


Trust Drives Transactions

66%

Of the Economy is Influenced by Personal Recommendations

SOURCE: McKinsey & Co.



91%

Say consumer reviews are the #1 Aid to Buying Decisions

SOURCE: JC Williams Group



78%

Trust Recommendations of other Consumers

SOURCE: Nielson Report - October 2007



88%

Will Buy from Companies they TRUST

SOURCE: Edelman Trust Barometer, 2008



85%

Will NOT buy from Companies they DISTRUST

SOURCE: Edelman Trust Barometer, 2008


Allocation of 2010 B2B Marketing Budgets

4%

6%

6%

7%

7%

7%

8%

9%

11%

12%

12%

13%

Virtual Events/Webinars

Marketing Automation

Print Advertising

PR

Telemarketing

Social Media

Direct Mail

Paid Search (PPC)

SEO

Tradeshows

Email

Web Design, Maintenance

0% 2% 4% 6% 8% 10% 12% 14%

Source: Marketing Sherpa 2010


Digital Marketing Expenditures


Social Media Budget

Social Networking,

52% Blogs, 13%

MrcroBlogs, 11%

Wikis, 7%

Other, 7%

Source: IDC Global Technology and Industry Research 2012


Most Overlooked Marketing/Sales Opportunity

Association Marketing - Over 7600 Trade Associations - Over 21K Professional Associations - Over 151K Associations Worldwide


Association Marketing

Encyclopedia of Associations American Society of Association Executives


Lead Scoring For Better Allocation of Resources

Ranks one prospect vs

another

Unbiased way to determine

which department should

focus prospect

Identifies “Sales-Ready”

Prospects

Helps tune your ideal buyer

profile


Have a Formal Lead Management System

New Lead

Registered Lead

Phone Ready Lead

TeleQualify Leads

Sales-Validate Lead

Demo/Meet/Proposal

Enter Sales Forecast

Closed Deals

Hand Off to Sales

Buyin

g C

ycle

Lead Nurturing


Develop Relevant Buying Cycle Sales Tools


Automate And Track

6


Measure Marketing On Contribution to Revenue

7


Analyze Quality of Leads Generated And Tools

8


Improve Your Tools And Programs

9


Everybody Wins


The 9 Steps

1. Get Into The Mind Of Your Buyer

2. Develop Your Buyers Profile

3. Be Where YOUR Prospects Are

4. Align Sales & Marketing

5. Develop Your Inbound Marketing Program

6. Automate And Track

7. Measure Marketing On Contribution to Revenue

8. Analyze Quality of Leads Generated And Tools

9. Improve Your Tools And Programs


Questions


Driving Profitable Growth


Driving Profitable Growth

We help companies optimize business development and marketing; accelerate sales; and seize the most attractive growth opportunities.


The CXO Advisory Group

CXO Advisory Group is a strategic operations advisory

and management firm comprised of proven C-level

executives with both breadth and depth of experience.

CXO Advisory Group Team members have achieved

success in positions ranging from: President/CEO to

COO, and VPs of Sales, Marketing, Corporate

Development and Human Resources.

Has proven success in business development and in

building US sales and distribution channels


How Can CXO Help You?

Business Strategy Services

• Audit business practices and organization

• Evaluate product and pricing strategies

• Evaluate effectiveness of sales channel

• Assess effectiveness of existing sales and marketing

programs

Market Entry Program

• Analyze competitive landscape

• Market launch strategy and plan

• Channel strategy and programs

• Establish sales channels

• Generate sales and manage relationships

• Identify and develop strategic partnerships



Sales Channel Management

• Review and revise sales channel strategies

• Channel partner identification, prospecting and recruitment

• Eliminate channel conflict

• Channel contract development and negotiation

Interim Management Resources

• Interim CEO, COO, CMO, CSO

• Interim VP of Sales and Marketing

• Consultant on staff

• Launch team coaches



Venture Advisory Services

• Fine tune operations, business strategy and market entry

• Assist with due diligence

• Strategic business assessment of portfolio companies

Stephen Davis Interim COO/VP Sales & Marketing |

Business Consultant | Sales Channel and

Business Development Expert | Author &

Speaker

Contact Information:

“Partnering With Clients to Drive

Sustainable Profitable Growth”

Phone: (508) 528-7571 Email: [email protected] Website: www.cxoadvisorygroup.com Linkedin: www.linkedin.com/in/stephendavis Twitter: twitter.com/stephendaviscxo