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The Old Value-Cost Conversation
I do however have an issue with the whole branding vs. selling thing though. Delivering good service and helping customers to buy products that they want is possibly the best branding exercise one can do.
Isn't all online marketing (and offline efforts for that matter) - designed to create and maintain conversations that ultimately end in some sort of "sale?" And I define sale as a value transfer - usually money for my service/product - but in could include service for service (ie: barter.) Therefore, the answer would be yes... it is all about sales.
Contrast this with the Marketing/PR organization, which in practical rather than academic terms really exists to build broad-based awareness for a product or brand, and generating "suspects" for sales. These functions are much less bottom-line oriented and metrics driven, and therefore I think there is the perception (often earned) that the marketing organization doesn't deliver the sort of measurable value the sales organization does. I think this perceived lack of accountability and metrics has led to the tension I've seen in the companies I've consulted for. I think as social media evolves, and the marketing discussion becomes more personal and intimate (as the sales conversations already tend to be), the key to success is, as you describe with Hubspot, ensuring the metrics to support causation from social media marketing to direct sales are developed will be crucial, and if they are, will break down some barriers, allowing a greater partnership between Marketing and Sales.
Which of course will lead to the next point of contention - evolving variable comp plans because of the individualized marketing (rather than sales) conversations social media increasingly enables. But I guess we'll cross that bridge another day . . .
I heard one such story at a presentation I made on social media last week. This person told how they forgot an appointment with a client. To express their deep apologies, this person sent the client one of those teddy bears in a basket surrounded by chocolate.
The client received the product gift which accomplished it's intended goal: to show remorse. But unbeknown to the sender, the product gift achieved an even more rarefied goal: The pleasant surprise of utility value. It just happened that the client needed an immediate re-gifting solution for another event. But they were out of time. And poof - the solution arrived. The kind of product satisfaction that has staying power.
These are the kind of product sales stories where the script writes itself. Because real life and the human condition write them. The ones that fit the social context online.
It's a worth trend Chris. Sales and marketing just has to be part of the every day magic when it happens.
Glenn
Interesting - you have me thinking
Is it conversions-to-sales or conversations to sales - No matter whether your position is to tell stories about products or service or about the company management want to track lead generation and conversation paths
Companies want their marketing efforts online to move needles they already care about. Too much of the "measurement" debate around digital is about finding new needles, which misses the point.
No matter what, it's the person to person interaction that makes a sale. If giving up a chunk of your time to blog and play on Twitter does not yield enough "in bound" leads to physically call - then it becomes a sore spot for a company.
As blogs and social media grows, are users becoming harder to market too? Are they starting to distrust and question the authority of blogs and corporate websites? I mean, anyone could stamp a badge on their blog and call themselves experts of in bound marketing, selling you free knowledge you can read off Google SEO/SEM page.
Companies selling services or advice on how to engage people on line need to bring substance to the table, and more then a higher Alexa ranking.
Sales is the closest to the client, the eyes and ears of "wants and needs", welcome aboard. Frankly, it's about time.
It is pretty clear that most enterprises work in silos, content strategy, marketing, sales and IT, each with their own agenda, goals and time frames. Clearly, a sea-change has to happen to get an integrated go-to-market strategy. It's no wonder why up to 19% of SG&A expense is hidden costs associated with supporting sales. Reducing those costs should be the number one goal and process optimization and integration is the only way to address it. I am glad you are now on board with that message!
Now are we seeing sales conversions as a result of Intel's vPro Expert Center community? Yes we are. But that isn't what drives them. It's all about engagement. And the deeper a customer is engaged with your brand, the more likely they are to be a passionate brand advocate. That in turn drives more sales. But the ratio isn't so clear when tracking sales from social media, except for perhaps Dell's hot deal Twitter account (or any retail sales environment that uses social sites to push specific rebates, discounts, or sales programs).
I say if you're using a blog as a sales tool, you're probably doing it wrong. But what do I know?
I don't mind, I love marketing.
I think companies would always like more sales conversions from their online media efforts - it's still business in that every marketing effort should produce a return or you don't continue it.
But how do you track it apart from upward or downward trends in sales?
Someone visits my Tumblr page (I'm currently running that as my imaginary ipod playlist with a song (or sometimes 2) a day), they then follow a link to a blog item i wrote, they follow that to my website. They like what they see but they don't need a gift straight then so they remember it and return a month later when it is someones birthday.
How do you track that? How do attribute that sale to your efforts on Tumblr?
The only way is to track trends. I wrote this or posted that and see a rise in sales etc - I can't attribute a particular sale to a particular action.
But do I need to?
I think this is the big question for companies especially in the current financial climate where companies are being forced to count every penny. The less far-sighted may well cut their online 'activity' - I hope not. It isn't quantifiable - it is necessary! Like having contact details on your website etc.
These are the times when your faith and belief in yourself and in what you are doing is right really count - perhaps a little naive, even misguided but a little faith goes a long way.
Jonathan.
Continual monitoring of how messaging is received is important to creating sales. Is the positioning, strategy and messaging correct? Does sales understand the value proposition? Are there mechanisms in place to provide feedback from market level sales to corporate? The elimination of unknowns only comes through listening and asking questions.
It's a bit of the issue social media has in b2b now. Marketing efforts need to tie into sales and the conversion isn't happening yet.
My concern rests with the "silver bulletizing" of social marketing as an instant fix to sales woes. It isn't. It's a long term part of sales growth. I believe that those looking to get a quick sales boost from throwing up a fan page on Facebook are going to be disappointed.
Here's the real kicker for me. After decades of metric driven strategies here's a new fundamental component that's not difficult to understand or implement, just hard work. However, being a fundamental if you don't fully grasp or implement it into the fabric of your business you will not reap the benefit.
Thanks Chris.
You can slice and dice the strategies and tactics to suit the market niche you're targeting - IF you have a good internal process and the rare combination of a sales and marketing organizations that LISTEN to each other.
Every now and then I have to remind myself that while we're in new territory with regard to the mode of communication we're using, the itches we scratch haven't changed since the first caveman went looking for his breakfast.
Even back in the late 90s during the dot com boom. It's just that back then the companies that were talking ROI didn't get as much attention as the ones spouting "new paradigm" and "integrated vertical portal" and the other buzzwords of the day. Same as it ever was. (And that's a good thing).
Here's why - the cost of sales has plummeted since the cost of information distribution and discovery has plummeted. It is much, much easier to do match making because people are voluntarily putting their information out there online - and obviously product and services companies have for a while. As this trend continues will see places like LinkedIn become much more of the Match.com for business. I express a need and I get matched with 20 people that can fulfill it - and either I can do the pursuing or be pursued.
It's a much better paradigm for all involved (aside from spammers) because both buyers and sellers don't have to spend the extra cycles on prospects that are not a good match. This presumes, of course that people and companies know who they are and what they want. The better companies are a defining who they are and staying true to themselves, they less friction they will have in finding customers.
JMHO :)
GREAT post! I’m bringing a different perspective to this topic. I think we’re on the forefront of a major shift in how marketing and sales align and work together to engage, converse, and acquire new customers. Social Media is quickly evolving to become a transformative discipline under the big marketing umbrella. Marketing’s overarching goal it is to generate brand awareness and demand through a variety of disciplines, techniques or channels. And we all know what sales’ overarching goal is.
As a sales pro, what I happen to be excited about is that social media is looking like a game-changer for marketing and sales organizations, no matter whether they’re in a B2C or B2B environment. Yes, it’ll take a couple more years for more complex B2B adoption, but if social media can help to free up my time to engage in more quality conversations with prospects – who want to engage with me - it naturally leads to strong and trusted relationship building – and yes, sales. Compared to the antiquated and ineffective dialing for dollars that sadly exists today in most sales organizations – particularly in the high tech industry – I can’t wait to experience the impact social media content makes to sales, salesmarketing, or even marketingsales. If social media helps me reduce my cold calling time and makes me a more effective, productive, and profitable sales pro in acquiring new business for my company, I want it now!
Keep up the great evangelism!
Sales Marketing is a very appropriate naming for this!
Your points are completely in sync with our conversation...to power of jazz
Marketing's job is to create demand and to speed up the buying process so any time you put "marketing" in a sentence you're beating a path for sales. Or you should be, it might come as a shock to some but Marketing's purpose has never been to spend the marketing budget.
I kind of like your two stories idea but I don't think it's as clear cut as PR doing one and Marketing taking care of the other; some of the best company stories I've heard have been from Sales, or the guy on the factory floor, or from other customers.
So, not a trend. Sales being driven out of marketing is an absolute. Always was.
Keep the info flowing Chris!
Cheers,
Mayo at Proposalware dot dot dot
Because this is the case, I don't think it is right to call it a "trend."
Unfortunately, many companies continue to pursue a mass advertising attack (fill the funnel, knowing sales win ratios will be low). Has any recent study been done to illustrate which approach is reaping more rewards?
Personally, I agree with Paul Hebert 's comment: it's "conversations" to sales. The change that some companies are starting to make is that conversations don't have to wait to begin with a sales person and a consumer. Companies can participate in the market conversation much earlier as part of their brand/product awareness stage so long as they don't look at it as a new place (online social networking areas) to paste the same old advertisement bullets (that doesn't add to the conversation, that adds to the noise.)
I own a small advertising agency and have several clients in the real estate realm. In the "olden days" (okay, two years ago), we could put branding ads out in consumer publications and the leads would come rolling in. Now days, with the obvious challenges in that market, it's just not enough to get their phone to ring. It's not enough that people in their market perceive their development as the "hottest development around" if the sales aren't happening. They began demanding, as they well should, that we be able to show them how every dollar they spend directly translates into sales.
Enter, content marketing. I am a Hubspot customer and loyalist and am currently using it to help my customers actually track the success of their content marketing campaigns. It's been awesome. And eye opening.
Yes, at first it was a challenge for me to evolve from years and years as a traditional branding advertiser. And I still believe firmly in branding. The channels, methodologies and strategies for conveying well developed brands have just changed with the times.
And if we as marketers don't change and begin to adapt to a more content based sales and marketing model to better serve our clients then I honestly think we'll be relics before long.
I believe that both questions (“what if every aspect of our efforts was dedicated to helping people sell?” and “what if every aspect of our efforts was dedicated to helping customers buy?” ) can be addressed with another question: "what if every aspect of our efforts was dedicated to helping our customers.....PERIOD."
The trust created by a company when truly, truly helping its customers address higher-level needs (than simply buying a product) via solving their problems (through education, information, inspiration, entertainment) is what content marketing is all about.
Yes, it sells -- but in a customer-centric, problem-solving way. Yes, it helps customers buy -- but above and beyond the utilitarian-based benefits of the product service.
Content marketing can be about SO much more than a "wide-area sales funnel" (actually, I always felt that's what traditional advertising did...in its mass-market, shotgun blast, interruptive way). Done strategically, content marketing can address ALL stages of the customer journey with a company/brand, from suspect to prospect to warm lead to customer....BUT THEN also beyond -- repeat customer to loyalist to advocate, enhancing lifetime value.
(My full disclosure: I've created a strategic framework that creates such a roadmap for content to play thoughout all stages, with objective-based measurement metrics which indeed helps marketers "see every effort’s paths back to sales.")
I guess the question isn't that "Are companies asking for more sales out of their online marketing efforts?" (they should), but that "Are customers asking for more out of companies' online efforts?" (they are)...and THAT'S where strategic content marketing provides the solution -- over the lifetime.
Keith Wiegold
Chief Content Evangelist
Nutlug Content Marketing