Over 50% of sales reps miss quota.
What companies don't realize is that this number is not just an indicator of good a sales team is.
Yes, a better sales team will hit quota more. But show me a better sales team and I can show you a better marketing engine:
-Better demand gen
If your sales investment outweighs your marketing investment by 4:1 or 5:1 like it does in a lot of companies, expecting sales reps to always hit quota is absolutely unfair.
Hitting quota and marketing investment go hand in hand.
There is a big disconnect between how companies want to sell customers and how customers actually want to buy.
No customer wakes up thinking they want to go through your perfectly crafted, straight line buyer journey.
Meanwhile, companies are trying to push you through so many hoops, gates and forms just to get the right lead scoring triggered.
They also avoid talking about competitors because they think you won't find them anyways.
Here's the thing: your customers don't care about what journey you've planned for them. They'll:
-Find pricing on Google
-Look up competitors on Capterra
-Watch your pre-recorded demo on YouTube
-Read a bunch of reviews on TrustPilot
-Ask people they already know
All of this is happening without your lead scoring getting triggered.
Change the internal company dynamic and focus on helping the customer at every step with as much content as possible.
B2B marketing would be a heck of a lot better if marketers approached it the same way as they themselves do...
Product, marketing and sales collectively bring the overall growth plans of a company together.
None of these functions can lead growth for a business by themselves. They require alignment and orchestration to capture the value from the company's biggest growth levers.
In many cases, the CEO plays this role. But as companies get bigger, the orchestration role gets lost because the CEO's role also evolves.
Eventually, there are VPs and C-Level execs for all functions except Growth (!).
This is why a Growth Team or a Growth Leader is required inside these companies. The role of this function is to bring Marketing, Sales and Product into alignment.
By the way, having a Chief Revenue Officer who primarily focuses on Sales doesn't count either.
The Growth function requires a leader who understands Data, UX, Engineering, Product and Strategy on top of Marketing and Sales.
To learn more about how to hire the right type of marketing leaders, take a look at our full post: How to Hire...
Content scales over time. Each asset on its own may not move the needle. But the great thing about content is that once you create it, you can move on to create the next asset.
Meanwhile, the previous asset continues to generate returns. Each time an asset is produced, we layer on additional recurring value. This process takes time and patience, two things most companies are not willing to give.
But if a company is patient enough, a 12-month content strategy can build multiple assets that produce ongoing value for the business.
Oftentimes the work produces enterprise value in a way other channels never can.
The difference between Good content and Great content is that Great content continues to pay dividends as time goes on. Factors that impact long-term dividends on content:
We want to produce more Great content. That's what creates long-term enterprise value.
Becoming a T-Shaped Marketer is helpful to people starting a career in marketing but can be destructive to marketers later in their careers.
Being T-Shaped definite will help you get promoted to the level of specialist or manager. But then you will hit a wall.
On the flip side, if you begin connecting the dots between marketing and the other functions of the business right away, your odds of getting to a much bigger marketing role in your career increase dramatically.
I call this type of marketer a "C-Level" marketer. These marketers are difficult to find because it is difficult to see the whole board and understand marketing's role across the business.
These C-Level marketers understand:
1) How marketing connects to sales, product, support, client success, engineering
2) Financial and build a relationship with the CFO
3) Manage up in their conversations with the CEO
4) Communicate expectations and connect the dots for the team
These are the people who get the big promotions, who...
Not every good idea is worth pursuing.
Each business has core strategic pillars that are deeply interconnected and intertwined into the fabric of the organization. Can you imagine if Ikea started selling high-end, customized furniture?
This is why filtering your ideas through your strategic pillars is critical. When you go through this exercise, you realize that most ideas aren't a good fit for your business.
Where companies get caught is when they start with the $$$ value in certain ideas. They work backwards from there to figure out how to make it happen.
Along the way, they lose the strategy and forget what business they're in. They also jeopardize the core business with this outside-in strategy.
Instead, start with the strategic pillars and build from the inside-out.
Don't chase after every shiny revenue opportunity :)
Marketers can be some of the best Product Managers inside organizations.
They have unique context and understanding about the most valuable asset to Product Management: what customers and the market want.
Marketing is not just about net new acquisition, which is sadly the only role marketers play in some organizations.
This is where it's on marketers to beat the drum and be a real evangelist for customers inside the organization to get a seat at the product management table.
Some of these ideas are also where some of the biggest growth levers inside a company exist.
The more marketers understand each of these levers and how they can contribute to it, the faster they can help grow the organization.
One of the most underrated roles on Marketing teams is the Ops person. In many companies, this role isn’t even filled (which is crazy).
Marketing Ops is an enablement role. It enables Marketers to spend money while giving them the insights they need to make better decisions.
To get to those insights, however, there is a whole lot of data collection, infrastructure and integration work that needs to happen — these are skills that are usually most lacking on marketing teams.
Find yourself a marketing ops person if you don’t have one already. And if you have a good one, do everything you can to hold onto them.
Alignment (or lack of it) is talked about a lot. The great thing about data is it can unify an organization objectively without politics, power dynamics or cultural biases of the company.
You have to start by making data a priority:
1) Capturing it from all entry points
2) Tracking and measuring all activities with KPIs
3) Establishing internal agreements on which metrics are core accountabilities of each department
4) Reporting on performance of each department based on those internal agreements
5) Adjusting spend, focus and strategies based on what the data tells you
It's not easy. It requires people, systems and tools to make it all work.
It's also the only way to build a data-centric organization.
To read more on how data can help you align teams internally, see our full article: CMO-CFO Alignment in Portfolio Companies: Why It Matters, and How To Achieve It.