Modern Marketing Skills & Abilities: Ponder This...

If exceptional digital marketing and sound marketing strategies are taking your competition to the next level----you can see it happening for them, but not so much for your firm------here are a few questions for marketing leadership to ponder in a recession:

Who owns technology selection within your corporate marketing staff? Perhaps the analyst charged with providing Salesforce.com with your data? Or the one lone team member with an iPhone? I mean, that is techno-literate, isn't it?

Be truthful and look around. True marketing technologists are few and far between. Who said five years ago, Go get an IT degree and then go into marketing and you will have it made? But yet, business' are screaming for the blended skill set.

Do you have an IT savvy marketing team? Are you building a sound business strategy around this capability? Or are you still focused on creative slogans, printed sales brochures, brand identity and event-based marketing?

High caliber marketing is making the difference in today's business by reducing costs and transitioning away from antiquated and non-effective practices.

With that in mind, who is defining your technology strategy and what is the skill set on your current team? Is the marketing staff member chosen to define your digital direction simply because they currently have a Facebook page or Twitter account? Activity does not equate to a marketing outcome for the business.

Do you have a succession strategy to gain the talent you need to excel in a recession? Are you aggressively moving your marketing and your team to a modern approach? Is it anecdotal or systemic?

Does anyone on your current marketing staff have a valid technology background? And more importantly, do they have a tactical business focus?

Rare. Very rare.

So how does the typical marketing staff move forward with modern marketing strategies if you do not currently have the in-house skills to get you there?

If you can't hire in a recession----can you develop existing resources? Does the learning curve time continuum mean you miss the advantage of digital?

There are tremendous costs if you do not have the technology and marketing skill set necessary for today's gains.

An alternative exists.

Opportunity Cost or Marketing Opportunity?

Here is a task for the marketing leadership, guaranteed to yield.  Spend time examining your true sales cost and begin to think in terms of marketing opportunity.  

All too often I see marketing management using numbers and metrics derived from legacy accounting and reporting mechanisms or personal preferences of leaders no longer with the firm to take the firm's temperature.  Worse yet, they are using systems with known bias and gaps for gaming by sales teams because they do not have the technology skills or commitment from IT to seek better software and practices.  The worst is how the salesforce incentives do not match the business strategy (long term or short term!).

A Day in the Jumpseat: An Investment in Your Business

I recently spent a day with a sales professional for a high tech medical product.  I was fascinated with how much time was spent engaging with documenting information for headquarters and how little time was spent with the actual client.  "Miles" shared with me how he wakes at 5am to input sales orders and daily talleys of client/prospect activity and engagement on his home office computer.  Living in one of America's largest cities, he then gets on the road to 'beat the traffic' to his first call of the day.  I kept thinking how rushed the client appointments felt to me.  When I inquired about the rushing,  Miles said it was so that he could meet the daily quota of prospect visits.   Increasing prospect visits was the new big target for headquarters, which could land Miles a Rolex watch during a new sales incentive program.   Then there was the paperwork for the existing clients we visited.  I was amazed at the paper forms he was constantly placing in front of clients for signature.  They seemed very annoyed by it as well.

What internal demands are being placed on your sales professionals and what is the potential opportunity cost to your business?  Is your sales team spending hours fulfilling internal process requirements instead of engaging in consultative selling techniques?  Are they sitting in front of the computer versus working on the client relationships?  Are they annoying your committed clients because your current accounting process has redundant documents signature requirements?

Opportunity is yours.  Will it be opportunity cost or marketing opportunity?

Visit the Digital CMO to learn more!
Http://www.thedigitalcmo.com

Who Owns Digital Marketing Content on Your Team?

How to ensure the continuous production of quality digital marketing content which is then placed/enabled on the web is the significant process challenge for today's modern marketing team. Yet no one has a content production manager on staff.  What would the job description look like?  

The Content Enabling Manager will own the objective of perfecting the digital client experience by working in partnership with the sales force, corporate partners and the marketing team to ensure consistent production of targeted content that is continuously fed to our appropriate marketplace prospects and clients via social media tools, the website, web events and email campaigns.

Better yet, save yourself from 'it is not my job, it belongs to the new Content Enabling Manager you just hired' mentality. Instead emulate the genius move of  HP CMO Mike Mendenhall and find a way to incorporate content enabling targets and social media excellence into the existing job descriptions of the entire firm.  Make it universal and owned by all.

Coming up next: How to build and launch a content production strategy at your firm. 

The Digital CMO|Where Technology and Marketing Come Together
Http://www.thedigitalcmo.com

Fun with Digital Marketing Equations

There is no doubt digital marketing increases opportunities for your organization to gather and use metrics.  So, it makes perfect sense to see the influx of mathematical and analytical people coming into the marketing profession.

Some equation fun in honor of the Marketing "Quants" among us: 

Blog SEO=(Concentrated*Desirable*Content)+ Optimized Frequency

Modern Marketing= right technology for the task + brilliant content + enabled content in many placements

Inbound Cost is less than Outbound Cost

Your turn!  Sum it up! Feel free to post your equation in comments!

Three Tactical Approaches To Add Technology To Your Marketing Mix

Are you uncertain how to add technology to your marketing mix?  According to recent Epsilon Survey results:

1) CMOs bracing for budget reduction identified email as the channel they are least likely to cut back vs. any other tool in the traditional or digital marketing mix.  

• Action: Sit down tomorrow look at what you are currently doing in the email space and write a plan for how you can ramp up on email. Ask yourself what 2009 programs do not currently have a digital dialogue component. After all, low cost strategies equal higher rates of return when they do yield. (the fact that they are yielding is the reason the CMOs are not keen on reducing spend in this area.) You may also consider adding mobile strategies to the mix at this time for the same low cost reasons and to keep your team experimenting with potential technology.

2) 55% of those not already employing web analytics plan to do so in the next 12 months.

• Action: What do you know about your web site and the experience prospects are having there? So many marketing teams view their website as a library.  It is best perceived as a storefront, glitz event, high-end sales call.  Even if you are not selling product there directly---if you are one of the surveyed firms not employing a web analytics plan, start by identifying someone on your team to become the designated web guru.  Have them begin to understand what metrics matter.  If you are one of the firms who does have a web plan, perhaps it is time to do a little fact finding.  Pull the team together and ask who on the current marketing team feels responsible for generating content and who feels ownership for conversions taking place there.  You will be surprised by the lack of hands, I am certain.  If this becomes your experience, it is time to begin a content enablement strategy.

3) Customer loyalty and rewards programs remain polarizing, with 33% of companies already using them and 17% planning to use them in the next year, but 50% not using or planning to use.

• Action: How many marketing lectures quote the value of the existing customer?  In 2009, with so little growth anticipated, existing value should be every marketing leader's focus.  I am surprised at the 50% non-use survey result.  I have seen very savvy use of personalized portals recently.  Smartly managed, they can be relatively inexpensive to implement and are showing activity rates.  The tactical action here is to consider if not a program, (I think that is why so many CMOs are adverse to the idea) then at a minimum have your team prepare an analysis of the current client list.  Often overlooked. Can you name the 10 clients who account for your top 25% of revenue? Are you engaging in digital dialogue with your existing clients to close renewal or upsell activity this month? Does your sales team have a strategy for these clients they can articulate?

The only way to sign on!

I always knew my first blog post would mock the introduction of MTV as it first signed on as a media channel.  MTV was thought to have revolutionized the way music was consumed and here is the first video to play on the channel: 

We could go on and on about the thinking behind the band selection.  But instead, I want to draw two thoughts as the Digital CMO:

Think of the millions of blogs written today and then compare the blogosphere of today to the MTV channel of yesterday.  Ask yourself how we consume music today. I am not even certain how often videos play on MTV today--if at all. The Buggle's agent must have thought the positioning as the first video on MTV assured longevity on par with the Beatles. Which brings me to my next thought:

The song was just not that good. In fact, it was a really awful example of a one-hit wonder. Content matters.  It matters a lot.  As a marketing professional, have you got content on your radar screen? 

 

Look out radio!