Product / Industry Marketing 2.0

Product / Industry Marketing 2.0

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  Product / IndustryMarketing 2.0New approach to product / industry marketing, ensuring future sales success, in an increasingly congested and challenging marketplace
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  Its getting tougherto succeed!Look how much we save you £££ Me To!Me To!Harder to differentiateMe To!Me To!Me To!In today’s highly connected world, there’s rapid convergence of market intelligence & customer insight, any category quickly becomes crowded with competitors making similar claims.Harder to communicateThe daily bombardment of marketing messages in all aspects of today’s world is creating message fatigue and active avoidance and filtering out of your best effortsCopyright © 2011 Jeremy SpencerSlide 2 of 13
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  Implications“Business is workingharder and paying more to pursue people who are trying to watch and listen less to its messages.” ...... Keller & Berry, The InfluentialsMarketing ROI & sales success under threat like never beforeNeedGreater Efficiency (doing things well) ANDGreater Effectiveness (doing the right things)Copyright © 2011 Jeremy SpencerSlide 3 of 13
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  Effectiveness is thebig opportunityMany organisations are up & running on efficiency gains, from inside sales & digital marketing, but……For these channels to deliver, they need:Differentiated, compelling value propositions, i.e. the Right MessagingIntegration with other supporting elements of the overall sales and marketing mix, i.e. the Right Go To Market StrategyGet it wrong and you just create a lot of leads that sit at the top of the sales pipeline, going no whereThe right messaging, with the right go to market strategy, make efficient marketing channels effective, ensuring more leads turn into revenue, yet…..Issue of effectiveness is still at the starting line, (can you name one activity you’ve done specifically to address marketing effectiveness?)EfficiencyGetting messaging and go to market strategy right, ignites sales & marketing channels, maximising marketing effectiveness EffectivenessCopyright © 2011 Jeremy SpencerSlide 4 of 13
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  Common Areas ofIn-effectivenessIn-appropriate channels,Targeting in-correctlyIn-appropriate communications mix deployed, that doesn’t reflect the particular sales process – one size doesn’t fit all!In practice, sales tools and materials don’t reflect the needs of the actual sales processLack of compelling, differentiated messagingThose with the agency relationship not category SMEs, limiting effectiveness of agency briefingsMessaging not in tune with customer’s perspective / languageSME = Subject Matter ExpertCopyright © 2011 Jeremy SpencerSlide 5 of 13
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  Product / industrymarketing is key to effectivenessIntegrated go to market plan, tying together target customers, engagement strategy , marketing tactics & proposition. Ensures alignment attacking most attractive & susceptibleIntegrated go to market plan, tying together target customers, engagement strategy , marketing tactics & proposition. Ensures marketing tactics aid the sales process neededCombine creative “big idea” with integrated value matrix , linking features to benefits to financial value analysis, differentiation and ROISales enablement process aligned with go to market plan & sales reality, not theory.Product / Industry MarketingComplement marketing brand guidance with real market , customer and proposition insight to brief agency effectivelyBring together insight from market, customers, partners, analysts and sales to guide the creation of the “big ides”Copyright © 2011 Jeremy SpencerSlide 6 of 13
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  Challenges of practicalrealityYou know the importance of customer understanding - Business drivers , purchase behaviour, pre/post sale needs, etc. BUTIn reality, your view of the world takes over, i.e. your starting point is not the customer but your product/solution and your existing sales & marketing approach – customer needs become retro-fitted i.e.“the cart ends up before the horse” RESULTING INFlawed go to market strategyGo to market plan defaults to existing sales channel structures and existing marketing mechanisms
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  Wrong skill setspitching to in-effective contact levels and unlikely / unmotivated purchasers
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  Poor lead qualityexacerbating sales in-effectiveness
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  Generate a lotof interest that sits at the top of the sales funnel without moving, soaking up resourceFlawed product / industry marketingStart with solution / product features and benefits
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  Go to markettheme doesn’t resonate with customer language and key purchase criteria
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  Benefit messages don’tdifferentiate solution offering
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  Customer’s struggle tojustify investing in your solutionCopyright © 2011 Jeremy SpencerSlide 7 of 13
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  Ensuring Future Sales& Marketing SuccessOvercoming practical challenges and responding to a tougher marketplace, means today’s typical product marketing focus, needs to expandToday’s FocusExpansion OpportunitiesCategory ExpertiseMarket
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  Solution’s features, benefits& applicationsValue ExpertiseFinancial value drivers mapped to critical business drivers
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  Differentiation / competitivepositioningSales EnablementTools / materials
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  TrainingMarketing EnablementIntegrated communicationtactics
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  Well briefed creativeprocessesSolution Centric Starting point is internal with solution
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  Map features andbenefits to perceived customer needsCustomer CentricStarting point is external with customer’s strategic agenda
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  Map customer needsto solution offeringRequires additional skills and experiences….Copyright © 2011 Jeremy SpencerSlide 8 of 13
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  Recipe for SuccessfulProduct / Industry MarketingSales ExperienceCredibility, knowledge & empathy to drive an effective go to market attack plan, marrying most susceptible target customers with current sales relationships and capabilities.In an ever increasingly crowded marketplace you need a product / industry marketer that can lift your sales and marketing above the competition. This requires, a marketer with :Sales experience
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  Field marketing experience
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  Creative vision
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  Financial analytical skillProduct/ Industry Marketing 2.0Field Marketing ExperienceCreative VisionAppreciation, awareness to drive a creative process that creates the “big idea” go to market themes that will resonate with and motivate target audiences. Credibility, knowledge & empathy to drive an effective comms plan, aligned to sales activities / process, to create an integrated go to market effort.Financial AnalysisFinancial modelling skills to build business case models and integrated value matrix that maps customer strategic agenda to features, benefits, value driver, differentiators and ROI.Contact author for examples:[email protected] © 2011 Jeremy SpencerSlide 9 of 13
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  AppendixMore detailed descriptionsof the attributes that deliver product marketing successCopyright © 2011 Jeremy SpencerSlide 10 of 13
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  Successful Product/Industry Marketing #1Certain key attributes required, for Product / Industry Marketing to drive marketing effectiveness, in today’s changing marketing landscape :SituationChange NeededCopyright © 2011 Jeremy SpencerSlide 11 of 13
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  Successful Product/Industry Marketing #2SituationChange NeededCopyright © 2011 Jeremy SpencerSlide 12 of 13
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  Successful Product/Industry Marketing #3SituationChange NeededCopyright © 2011 Jeremy SpencerSlide 13 of 13