Going beyond the business plan EMPOWERING MARKETING SERVICE PROVIDERS
Anatomy of a lead 4 data mining techniques you can use
SEPTEMBER 2014
GROWING UP Your step-by-step plan for organizational maturity
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It is critical that everyone on your team understands that both operational change and strategic change is equally important in order for your company to survive.
SEPTEMBER 2014 PUBLISHER
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mark potter
Editor’s Thoughts
CREATIVE DIRECTOR
What a concept
brandon clark MARKETING MANAGER brandy brewer
P4
Best of CANVAS Notes Pure platinum
MANAGING EDITOR michael j. pallerino ART DIRECTOR brent cashman
EDITORIAL BOARD chris petro GlobalSoft
P6
Marketing Insights P12
Growing up Your step-by-step plan for organizational maturity
tom moe Daily Printing
P18
dean petrulakis Rider Dickerson
10 essential tips you won’t learn in business school
david bennett Bennett Graphics
P24
tony narducci O’Neil Printing
Why it’s a question worth asking today
Beyond the business plan
What’s a lead?
CANVAS, Volume 6, Issue 7. Published bi-monthly, copyright 2014 CANVAS, All rights reserved, 2180 Satellite Blvd., Suite 400, Duluth, GA 30097. Please note: The acceptance of advertising or products mentioned by contributing authors does not constitute endorsement by the publisher. Publisher cannot accept responsibility for the correctness of an opinion expressed by contributing authors.
CANVAS P1
EDITOR’S THOUGHTS
What a concept
R
obin Williams. Mention his name, and your mind seemingly drifts into a million memories. He made us laugh. He made us cry. And thanks to all the characters and catchphrases he threw at us in rapid succession
over his 40-plus years in the spotlight, he will never let us forget him. There are a lot of lessons here, especially when you’re talking about how to
take your brand and your message to the next level. If you want an idea of what your brand means to your customers, remember what Billy Crystal said about his iconic friend: “Robin Williams, what a concept.” More than anything else (comedic genius, Academy Award-winning actor, an
Be the brand that is as unique and memorable as it is dependable – the one that people just cannot get enough of being around.
unparalleled improvisational performer), Robin Williams was unique. Whether you’re talking about Mork from Ork, Mrs. Doubtfire, Genie from Aladdin, and on and on, what stands out most is his uniqueness. Does your brand stand out? Are your customers excitedly talking about your products and/or services or are they just putting you into that “same-oldsame-old” category? Not everything and everyone falls into the same category. They just don’t. If you think your customers – and all those who aren’t your customers yet – are falling all over themselves to get to you, well, you’re wrong. They aren’t – unless you continue to show them. Why not take Robin Williams’ approach? Why not be the wildest and craziest brand you can be and elicit the emotions that will stay with your customers for the long haul. Be the brand that continues to build on the products and services and people that gives your customers what they want, when they need it. Be the brand that is as unique and memorable as it is dependable – the one that people just cannot get enough of being around. That is our mission at CANVAS – to be the content provider that leaves you wanting more. In this issue, our cover story, “Growing Up,” internationally recognized change agent and speaker Tom Somodi breaks down his four-step plan for creating an organizational structure that works for change. In addition, New York Times bestselling authors Michael Houlihan and Bonnie Harvey uncover the 10 tips you might not have learned in business school. As you read through this issue, we hope you will find insights that can help move your brand and your company to the next level. What a concept.
Michael J. Pallerino, Editor Follow me @mpallerino P2
CANVAS SEPTEMBER 2014
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Normally, I it card club. ed cr l ve le actly what latinum ted to see ex to join the P an n w o I ti ta e, vi m in ti all the salesut this t another think about like these. B e received ye ls m ia e er ad at m m l ent. It otiona r my investm discard prom s. e offering fo er w g their client in ey rd th fo privileges t they’re af ha of w d an y tiated levels industr vided differen people in our ro p e w if happen what would c, I wonder ifi ec sp t. re o en To be m of commitm of uperent levels on the level ed as b service at diff ed g ail from a ice chan receive an em its sales serv d re ul o he w w s m nt ra ie l, its cl client would w prog arketed a ne ded, but the e Bronze leve m th ad X e at e , er lu le nt va p ri h P be muc would receiv For exam Imagine if re wouldn’t fine and he y its clients. b e he t b T d t. en si ul m o vi it w ly m y ualit front com and a quarter price. The q every month a reasonable at d an salesperson e m ti e job done on on it. ntion from th get his print u” stamped Yo nk ha “T e serious atte a n m h it so so w er et e g sp ic le to vo sa an in and the ient starts t, cl lis l he T ai y. m in ne ct card e dire re mo a Christmas e’ll be on th st a little mo nal pastry. H ight even be lan would co io m p as re er cc lv he o Si T s. an he T idea e even inspire some – and mayb salesperson ples that may m sa e m so will row in anagement may even th a big deal. M is n la l. p g al b ld in o a The G the offer ke him to the client, ta service get to know a customer te na ig es d en ig game and ev ient, and a b he’s a big cl se rice will au p ec s B hi . p e, re y’s revenu an p m co e the service he chunk of th others. But e th an th r be highe rth it. mpletely wo pays for is co ced program e highest pri th is m gram ra g ro tinum p nds. This pro mily and frie ined. The Pla fa ta clir at e fo th ly ed re re rv o ra s bef lly rese but it’s pate his need n that’s usua a final level, n ci io ti is ca nt e an d te er n an at th ca f , nt o e w l ie No ith the cl y move. H w with a leve er es ev ed m ’s um nt co ns ie it ar the p t. He’s co ds the cl offered, but atter because ng he makes ho understan m hi w t yt n’ ne an es y o eo b d m d the invoices r, but it t define includes so In fact, when ually is highe em. He’s no . us th es ce te lin ri la p m cu o ti tt he d bo ent can ar he needs. T client’s top an out anything ease in the cr in ds a check. an en sc source just ab to an e value tr ly correlated th ct se ont ire au d ec is b p nershi k them up fr k twice doesn’t thin ahead and as nt o benie G e . cl th m e l ra th al g , , arrive commit is new pro ey th th h e it w nc o up at d th ients s understan lls, hit your cl all your client next set of ca re ur su e yo n ak o M , So ’d like. f service they en deliver? what level o ugh, and th o d e th . in ct ck lle e you get to e cash, co efits will ki ion, and onc nt n roll out th te ca at u f ve, o yo k nd in same ki don’t th ink is attracti receive the t work? You eone you th d n’ m ul o o so w sh t to nt ha T ie up oing What? ink every cl uld be like g e true. you might th per. That wo ee ams will com d re I’m sensing o d g r n he ca f o u l yo al s, u yo ne o s determine e marries know certain ing that if sh let our client is d m an ro p nt o fr en up and th level service the Platinum er ck in. iv ki el s d d t ar us w that we m hen the re e w ar t’s s ha ct T fa . ts The benefi to enjoy the if they want
I
r the Platinum r e v li e d t s u m We t and let ou n o fr p u e ic v r level se y want to e th if e in rm clients dete That’s when . s t fi e n e b e enjoy th ick in. the rewards k
Mark Pot te r Follow me @
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CANVAS SEPTEMBER 2014
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MARKET INSIGHTS
A SNAPSHOT OF THE TRENDS DEFINING OUR INDUSTRY
Please don’t go Is your website turning off your customers?
What do your customers look for in a website? According to Limelight Networks’ “State of the User Experience Report,” 52 percent of today’s consumers say high performance is the quality they value most. Other interesting insights show that 60 percent aren’t willing to wait more than five seconds for a webpage to load before becoming frustrated and leaving the site, with 37 percent of them buying a product from a competitor if a site is too slow. Most interesting is that 82 percent are likely to recommend a brand to a friend following a positive experience on a website.
Did you know? According to Social Media Examiner’s “2014 Social Media Marketing Industry Report (SMMIR)” more than 60 percent of marketers use social media for less than 10 hours each week, while 34 percent report using it for less than one hour.
The amount, in billions, that advertisers worldwide will spend on paid media in 2014, according to recent research from eMarketer. The numbers also show that total media ad spending will increase 5.7 percent, more than doubling its growth rate of 2.6 percent from a year ago. On a country-to-country basis, the U.S. market is the faraway leader, with spending expected to eclipse $180 billion in 2014.
Taking a stance on an important issue and making a positive contribution are exactly what a brand should be doing in today’s world. People are happy with the idea of brands aligning themselves with a social issue – just as long as they are making a genuine positive contribution.” – Kate Cox, a managing partner at communications firm Havas Media, on why some brands are creating more emotive, shareable content that champions social issues
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CANVAS SEPTEMBER 2014
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MARKET INSIGHTS
A SNAPSHOT OF THE TRENDS DEFINING OUR INDUSTRY
Get to know them 4 data mining techniques you can use
M. Lynn O’Donnell knows her way around the data world. As director of marketing for Four Rivers Software Systems, she’s responsible for demand generation, marketing communications and brand management. Here, she offers four ways you can start collecting data for you business today: No. 1 – Landing page reports These reports determine how many contacts viewed a landing page and, of that number, how many signed-up or completed the form. Data can be analyzed by individual landing pages or as an overall summary. Within each report, you can drill down to the contact level and view where the interest originated, and track the origin of their interest and lead score. Analyzing this data allows you to determine effective campaigns and track the inquiries through the nurturing cycle.
No. 3 – Drip reports Drip campaigns can determine the number of contacts in the campaign, if they have been opened and if any links have been clicked from an email campaign. They help automate the nurturing process, allowing you to touch prospects without a significant amount of manual effort.
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CANVAS SEPTEMBER 2014
No. 2 – External website tracking reports These reports analyze the external sources driving traffic to a website. This generally is an overview, but does give information on whether viewers are coming directly to the site or from social media, search engines or other websites. Once you determine what’s driving your traffic, you can more effectively use those sources.
No. 4 – Lead score Lead scoring system is based on your visitor’s activities. With each activity, the score increases and there are some activities that are collected that decrease the score such as “unsubscribing.” Collect the score and use it to determine the seriousness of a lead. The higher the score, the more likely the lead is closer to viewing a demonstration and possible purchase.
PAPER because Print Works!
Print is an effective marketing and communications medium. In a time of compelling forms of communication, print on paper works, and works well, especially when paired with the right media mix. For statistics and valuable resources or to schedule a customized meeting, visit the Print Works! page at domtarblueline.com.
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MARKET INSIGHTS
A SNAPSHOT OF THE TRENDS DEFINING OUR INDUSTRY
Bridging the great divide Report shows CMOs, CIOs working together
Whether or not the world of chief marketing officers (CMOs) and chief information officers (CIOs) will ever truly come together as one remains to be seen. But for now, according to the “CMI-CMO Alignment 2014” report from Accenture, the two groups are working more collaboratively than ever before. For example, nearly 43 percent of CMOs and 50 percent of CIOs say their relationships have improved over the past year. Following are some other key findings:
CIOs that say marketing requirements and priorities change too often for them to keep up
CMOs that say their company’s IT team don’t understand the urgency of integrating new data sources into campaigns
40%
43%
43%
CMOs that say the technology development process is too slow for the speed required for digital marketing
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CANVAS SEPTEMBER 2014
25% CIOs that say CMOs lack the vision to anticipate new digital channels
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© 2014 KONICA MINOLTA BUSINESS SOLUTIONS U.S.A., INC. All rights reserved. Reproduction in whole or in part without written permission is prohibited. KONICA MINOLTA, the KONICA MINOLTA logo, bizhub, and Giving Shape to Ideas are registered trademarks or trademarks of KONICA MINOLTA, INC.
STEPS TO ORGANIZATIONAL MATURITY
GROWING UP Your step-by-step plan for organizational maturity By Tom Somodi
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CANVAS SEPTEMBER 2014
BY TOM SOMODI
A
s the printing services industry continues to diversify, many, if not most industry observers would argue that the ability for an organization to change over time is
critical to its long-term survival. To this end, literature is full of theories, methodologies, recommendations and analysis on how an organization should be structured in order to maximize the likelihood of obtaining successful change.
Since more than half of all human communication takes place nonverbally, audiences judge you based on what they hear and see.
It is said that organizations must be structured to provide employee empowerment, lean operating techniques and continuous improvement philosophies as just a small sampling of examples. Yet, we still hear about companies failing to obtain desired change even though they possessed exemplary efforts to support such structural recommendations. The reality is that if you want to see advancements in this arena, a major paradigm shift must occur regarding the dynamics of change and organizational structure. The best place to begin this shift is by leveraging the concepts found in Change Science. Here are four steps you can follow to create the change you want in your company:
Step 1 Develop & Communicate a Proper Perspective of Change in Your Company One of the first things Change Science tells us is that change is constantly and continuously occurring around us. Therefore, it’s important for everyone in your company to recognize this fact. Every time a new customer order is received, a product is produced or an invoice is generated, a change has occurred within your company. Therefore, your company continuously is inundated with change. And, assuming that your company has managed to survive, this change – both expected and unexpected – on a whole has been successful.
CANVAS P13
GROWING UP So, Step 1 is for you to stop thinking of change
More important, the lines of responsibility not only
as strictly specific efforts and/or events, and rec-
have become blurred, but it is common that the
ognize that you already are successfully dealing
interrelationship between operational change and
with a continuous stream of change at every level
strategic change has become disconnected.
in your company.
•
Strategic change is in response to both internal opportunities for improvement and reac-
Step 2 Develop a Company-Wide Understanding of Responsibility
tion to external influences that can threaten your company. •
Operational change focuses on the short-
So, how does your company manage all of this
term expected and unexpected change
continuously occurring change? The answer is sim-
that must be executed in support of the cus-
ple: a delegation of responsibility. From the per-
tomer. This is based upon strategic change
son who pushes the button to start your printing
that has occurred within your company on a
machines, to the person who enters the customer
historical basis.
order, and the manager that resolves a conflict, re-
It is critical that everyone on your team under-
sponsibility for the control of these various chang-
stands that both operational change and strate-
es has been delegated.
gic change is equally important in order for your
It is important to recognize that the concept of
company to survive. There must be an under-
employee empowerment automatically exists as
standing and an acceptance by your employees
soon as that individual is given responsibility for
that operational change has to be continuously
managing and controlling the change that has
executed to support the customer in the here and
been assigned to him. What most often is lack-
now, while strategic change must be continuous-
ing is a top to bottom organizational recogni-
ly executed in order for your company to survive
tion that not only is there a significant amount of
into the future.
change continuously occurring in your company,
Step 4 your employees already are masters at managing Adjust Organizational Responsibility to Clearly Support and executing change. Operational & Strategic Change but through the assignment of responsibility, all of
It is critical that everyone on your team understands that both operational change and strategic change is equally important in order for your company to survive.
Step 3 Recognize & Communicate Two Broad Categories of Change within Your Company Given that companies already are managing and executing a continuous flow of change, why all the discussion about how they struggle with change? The answer is that organizations have allowed the lines of responsibility between day-to-day operational change and strategic change to get blurred. P14
CANVAS SEPTEMBER 2014
Assuming your company is successful in Steps 1 through 3, it still can face challenges when addressing change if there is not a clear delineation of responsibility for operational and strategic change among your workforce. The following guidelines will help:
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GROWING UP
•
Drive responsibility for day-to-day opera-
Allocation of focus between strategic & operation change
tional change as far down your company’s pyramid as possible. Ideally, the more operational change that can be executed and
Strategic Change (SC)
Operational Change (OC)
controlled at the administrative and production levels of your company, the better. These are the people closest to the operational change, and generally have the greatest ability to address opportunities and issues that may arise. •
Clearly indicate (i.e., including through appraisal and compensation arrangements) that the primary responsibility over strategic
Board of Directors SC 100% OC 0%
Chief Executives SC 90% OC 10%
VPs SC 85% OC 15%
Managers SC 60% OC 40%
Admin & Production SC 5% OC 95%
change is from the lowest management levels, on up to the executive and board level. There always will be operational change that requires involvement at the higher levels of management. Even a major customer contract could easily require sign off by the CEO. But it should be clear that the main responsibility for management should be related to
Directors SC 75% OC 25%
the accomplishment of strategic change. •
There should be a clear understanding at the ground operational level that it’s management’s responsibility to make sure there’s
tegic change initiatives and other opportuni-
continuous strategic change occurring in
ties for improvements that might exist.
the company with an objective of long-term
By following these four steps, the formula as-
improvement and survival. But it’s also im-
sociated with an organizational structure that will
portant to make sure a communications
greatly enhance the ability to support the change
loop exists that supports the delineation of
required for growth and long-term survival is quite
responsibility. This includes communication
simple. The real challenge is in executing the para-
of the “why” and “what” behind strategic
digm shift that requires a clear understanding by
change to those with a primary responsibil-
your organization that change already is being suc-
ity over operational change. It also includes
cessfully executed within your company, and a new
feedback to those responsible for strategic
delineation of responsibility between strategic and
change regarding the performance of stra-
operational change is required.
Tom Somodi is a speaker and expert on change, applying his extensive domestic and international business experience, including reorganizations, acquisitions, strategic change initiatives, and taking a company public during the difficult 2011 financial markets. Somodi has held CEO, COO, CFO and board level positions. His book, “The Science of Change: Basics Behind Why Change Succeeds and Fails” also is available. For more information, visit www.changescienceinstitute. com or email info@changescienceinstitute.com. P16
CANVAS SEPTEMBER 2014
THE
INDUSTRIAL AGE IS
DEAD.
“Selling in the Connection Age” Featured speakers
Greg Cottichia
CEO/President Malcovery Security
Chris Harrold Vice President of Business
Development & Creative Director
SEPT. 29, 4PM
Mark Potter CEO at Conduit, Inc.
FREE EVENT. FOOD PROVIDED. LIMITED TO 100 TICKETS.
WWW.THECONNECTIONAGE.COM
10 ESSENTIAL BUSINESS TIPS
BEYOND THE BUSINESS PLAN 10 essential tips you won’t learn in business school
T
By Michael Houlihan & Bonnie Harvey
here are a lot of different beliefs about what it takes to be successful today. Whatever your thoughts are, one
thing is for sure: There is much to learn from those who have been there and done that.
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CANVAS SEPTEMBER 2014
BY MICHAEL HOULIHAN & BONNIE HARVEY
Treat each customer on an individual basis. Ask about their experiences with your product and listen to their answers.
CANVAS P19
BEYOND THE BUSINESS PLAN
One of the keys to success is understanding what you have an abundance of and what you need more of.
The truth is that entrepreneurs can be made. You don’t have to be born with that entrepreneurial gift, in fact, most successful businesspeople weren’t. It all comes down to foundational knowledge and hard work. And if you’re open minded and willing to listen to the voice of experience, you can learn the guiding principles that play a role in building successful businesses – and have a major advantage over many of your peers. It’s all about putting yourself in another person’s shoes. We call this guiding principle “The Barefoot Spirit.” When you allow this principle – not fear, greed or the way other people did things – to guide your decisions, you can increase sales, reduce overhead, gain new loyal customers and grow your brand. Here are 10 foundational habits that, along with a healthy work ethic, will help you to become successful as an entrepreneur:
1
Always ask yourself, “How would I like this?”
When you start your own business, you quickly learn there’s no class, book, case study or industry standard that can give you a clear answer to that one big question: Will this choice sustain and grow my business? So, put yourself in the other person’s shoes. Would you work for you? Would you extend credit to you? Would you like selling to you if you were a vendor? Asking yourself these questions offers an objective view of your business practices and how you might need to change to build a brand you’d be loyal to.
2
Pinpoint your strengths and weaknesses
We all tend to think we can do more than we actually can. As a result, we’re overscheduled, overtired, over stimulated and overwhelmed. This tendency to be “over” causes us to blow our skill sets, capabilities, and even our products and services out of proportion. Try working with a third party that knows you well. One of the keys to success is understanding what you have an abundance of and what you need more of. A trusted friend or mentor can help you make those distinctions. This person can help you determine how much time you have to commit to your venture and how much money you can safely spend, for example. He can keep you honest about what you do and don’t excel at, how you handle stress, and when you must delegate tasks and call in help.
3
Always keep in mind why you’re in business
Set a clear picture on your values and goals. Ask yourself questions like: Why do I want to build this business? How do I create a legacy or build brand value? What are my beliefs on how employees and customers should be treated? Consider writing the answers to these questions down and reflecting on them from time to
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CANVAS SEPTEMBER 2014
time. The reasons behind why you started your business in the first place will influence how you run it every day. It’s important to stay connected to your values and to make sure that time and momentum don’t move you too far away from them.
4
Become a leader in your own category
There was a time before terms like “social network,” “iPhone” and “Google it” were used. Create your own terms, define your own niches and be a leader in your own category. This will help you distinguish your company and lead it to success. Don’t be afraid to name your own tune. Don’t let initial resistance or skepticism stop you.
Heart isn’t something you can learn from a book, class or seminar. …And when you tap into this wellspring, you’ll have grasped one of the most valuable tools you can possess as a leader.
5
Always OVERdeliver
Most consumers today are looking for products and services that provide good value for the price. If you want to gain your customers’ loyalty, offer them what they want and make sure they have consistently positive experiences with your company.
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BEYOND THE BUSINESS PLAN
6
Know the difference between customer service and complaint resolution
Today, customer service departments should be called “complaint resolution” departments. Instead of handling complaints formulaically and trying to sweep them under the rug, give real and timely feedback about what you offer. Treat each customer on an individual basis. Ask about their experiences with your product and listen to their answers. Share these insights with your team. Don’t rest until your customers have something good to say about your company.
7
Meet deadlines (and when you can’t, call)
It goes without saying that you should do everything in your power to meet a deadline. But sometimes, deadlines can be trying. When that’s the case, let your client know. Explain what the holdup is, extend your sincere apologies and explain how you’re going to make things right. Don’t let them call you.
8
Don’t be afraid to ask for help
Everybody needs a helping hand from time to time. Being honest regarding where you are and what you need is the best policy. Don’t be afraid to ask for advice, guidance, and aid from mentors and other industry professionals.
9
Hire people you like, then help them blossom
Don’t hire somebody solely on technical skill set. You can teach that. Instead, hire people with foundational qualities you can build on: integrity, enthusiasm, a willingness to learn, a sense of humor and a sincere interest in your business, to name a few. Provide your team with a verbal rundown of what is required of them – the challenges and your expectations, etc. Create an environment where your trusted team members can feel free to grow, take risks and make mistakes. Employees who aren’t supported and who are afraid of doing something wrong will never live up to their full potentials. Find out what your employees excel at, and then redesign their jobs to fit those skills. Don’t put the square peg in the round hole. Build a square hole.
10
Have heart
Heart isn’t something you can learn from a book, class or seminar. It’s not a skill you can master. It’s something you must find within yourself. And when you tap into this wellspring, you’ll have grasped one of the most valuable tools you can possess as a leader. Heart is having a sense of humor in the face of hardship and not taking yourself too seriously. It is about being true to your core values. It is helping your community improve itself, thereby giving others a social reason to buy your product. Heart is what makes you feel good about what you do.
Bestselling New York Times authors Michael Houlihan and Bonnie Harvey wrote “The Barefoot Spirit: How Hardship, Hustle, and Heart Built America’s #1 Wine Brand” to chronicle their experiences with building the popular Barefoot Wine brand. Today, they share their experiences as consultants, authors, speakers, mentors and workshop leaders.
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CANVAS SEPTEMBER 2014
Easily
digestible
stories that will
inspire
your sales team
Pay it
Forward
All profits go to the Electronic Document Scholarship Foundation Are your sales meetings going stale? Spice them up with the candidly insightful "Egrets, Hockey Sticks, and Roller Skates" by Mark Potter. This book is dedicated to inspiring a new mindset for the marketing services industry. You will you be inspired, but you will also be giving back to the print industry. All proceeds go directly to the Electronic Document Scholarship Foundation which helps support eager student leaders that are looking to make this industry even brighter.
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BUSINESS INSIGHTS
ANATOMY OF A LEAD • GREG COTICCHIA
What’s a lead?
Why it’s a question worth asking today
S
omewhere around 2004, after spending close to 20 years in marketing and various other executive sales leadership positions, I used to hold a standard weekly sales call. During one call, one of my salespeople asked, “What’s a lead?” While I took the question at face value, I was somewhat shocked that a sales rep of almost equal experience would ask such a question. Interestingly, as we have moved into an age of marketing automation and a more quantitative set of measures for marketing communications, she was right. “What’s a lead” actually is a great question. Today, it’s wise to clearly define the answer so that you can move “top of the funnel” activities effectively through to sales. Leads have a long history in B2B marketing. According to recent surveys, the biggest challenge B2B marketers face in regards to lead generation is generating high-quality leads. Traditionally, when I look at the three primary categories of marketing communication spends, I place these in three big buckets – awareness (PR, speaking events, bogging, online ads, some aspects of social media, etc.) sales support (data sheets, brochures, case studies, ROI calculators, etc.) and lead generation (telemarketing, direct mail, email, events, inbound calls, search – both SEO and PPC – and webinars/seminars). As B2B marketing has changed, the last category has become more important. In some organizations, these activities were left up to the sales organizations. They sometimes were referred to as “field marketing,” since they were considered “beneath” the corporate marketing organization that was more “creative” and “strategic.” Those days are gone. Driving sales and reducing barriers to transactions is key. P24
CANVAS SEPTEMBER 2014
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OK, so what is a lead?
ANATOMY OF A LEAD Salespeople have no control in this situation,
An issue with defining our question has to
unless they figure out how to add value to the
do with the traditional roles (and friction) be-
decision-making process. Identifying key buy-
tween sales and marketing. Marketing always
ing criteria such as Budget, Authority, Need
exclaims: “We generated tons of leads,” as if
and Timeframe, what IBM labels (BANT), isn’t
to declare success by volume. At the other end,
good enough anymore.
salespeople often proclaim the opposite: “All of these leads are crap.” This zero sum game can produce a losing
As a result, leads are no longer just leads. By using BANT, we could create a system where we could associate some status of
“hot,”
process with little or no accountability, frustra-
“warm” or “cold” to the leads. BANT still has
tion and no results. As a result, roles such as VP
a use, but it must be used differently in light
of sales and marketing are created to reduce
of today’s buyers’ journey. Today’s buyers are
friction, and to create singular ownership and
learning more online before they reach out in a
accountability. This is a mistake. And it’s not
buying process.
enough. There are better ways to create cooperation and effectiveness.
One major reason is that by the time a lead is fully “BANT-qualified,” it’s probably too late.
So, what can you do? First, you need some
Your odds of concluding a sale on your terms
context about the changing buyers’ landscape
are greatly diminished because your competi-
and some definitions. Today’s prospects are
tor probably has established a favored position.
much more informed about you and your com-
What companies are doing today essentially
petitor’s products and services. They have
is breaking down BANT along the buyer’s jour-
identified their own needs. They have started
ney so they can capture their prospect’s inter-
to design their own solutions. And they have
est and stay involved with him as he moves
done all of this before they talk to you.
through the process. Here’s how it looks today:
According to a study by CEB, buyers now are 57 percent of the way toward a buying deci-
Marketing Qualified Leads (MQL):
sion when they are contacted by a salesperson.
This lead has achieved a certain score based
The biggest challenge B2B marketers face in regards to lead generation is generating high-quality leads.
on a predetermined set of criteria and is ready to be handed off to sales. This is essentially discovering if there is a “need” and what level of “authority” a prospect has. The lead might be regarded as someone in the right sort of role at the right sort of company, plus shows some behavior (clicking in an email and downloading a whitepaper, etc.) that indicates he’s ready to be engaged by sales.
Sales Accepted Leads (SAL): Leads accepted by sales for follow up actions. This is essential for alignment between sales and marketing.
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CANVAS SEPTEMBER 2014
Sales Qualified Leads (SQL): Leads that convert into opportunities – either wins or losses. This is where sales also seeks to learn “Budget” and “Timeframe.” For example, a MQL might be regarded as someone in the right sort of role at the right sort of company, plus show some behavior (clicking within an email to download a whitepaper, etc.) that indicates he’s ready for sales. A SAL is where the sales team contacts an MQL, and decides that this lead should work. The lead
The biggest challenge B2B marketers face in regards to lead generation is generating high-quality leads.
may go through budget and readiness qualifying to determine if it is a SQL that should be worked to a closed/won revenue opportunity. In this case, it’s important to define what’s not a marketing qualified lead. Some companies look only for role fit, company fit, and some
is $25,000. This would translate into 400 new
interest indicators. Determining available bud-
deals required to meet your revenue target.
get or whether a decision to purchase has been
Let’s further assume that your sales reps can
made are sales lead questions.
close one out of every four well-qualified leads.
It also is important to score the leads in each
To close 400 deals you must meet your revenue
step. You measure a lead’s effectiveness by as-
objective of $10 million for the year. You’ll need
signing a numeric score based on a predefined
1,600 SQLs.
set of rules, taking the subjectivity like hot, warm
So what’s a lead? The answer is much more
or cold out of qualitative rankings. Quantitative
complicated than it ever was. If answered cor-
lead definitions also reduce the friction between
rectly, it also will be more useful to your business,
sales and marketing.
your salespeople and your company’s revenue.
You first may have to guess what the criteria is or what the right “number” is associated. The process will improve as you complete more sales cycles and review the leads associated with the wins and losses. Here’s an example: Let’s assume your revenue target calls for incremental new revenue of $10 million, and that your average deal size
Greg Coticchia is an award-winning technology executive with more than 25 years experience in high-tech products and services. Recently, as CEO and co-founder of eBillingHub, he grew the company from inception to establishing it in a leading market position that led to its sale to Thomson Reuters. He currently teaches both business-to-business marketing and entrepreneurial leadership at the University of Pittsburgh’s Katz School of Business. CANVAS P27
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