Let's get straight to the point - we've known sales and marketing in the typical sense has been failing for years. The trouble is, sales and marketing directors don't know any other way of working and so the constant mismatch continues.
The problem is growing and is the main reason you need to know who, within a digital consultancy, you can turn to to get some genuine help and advice. Consider the following points based upon the poor advice that has been prevalent over the past ten years or so:
According to the Havard Business Review; of the businesses who receive venture capital:
Putting financed start-ups to one side. Of every size and type of business, the incomprehensible statistics are as follows:
We're not saying to change to the model to something unrecognisable. We're saying you need to restructure your business to reflect the way we all now buy and engage with suppliers and the mechanisms enabling us to do that.
New strategies will reduce or redeploy your head count, lower your marketing costs and increase your exposure to new business. It won't happen overnight, but it will happen. It's not rocket science, but takes analysis and planning.
An entrepreneur or CEO develops a product and runs the business, yet is forced into the marketing conversation, and expected to instruct marketing managers and CMOs who will always act and think like employees. This is a recipe for poor results. If you do what you've always done, you'll get what you've always got.
Whether you're thinking about Venture Capital, Private Equity, Bank Loans or simply reinvesting and rebuilding after the lockdown, one thing you don't want to do is simply repeat what everyone was doing before March 2020.
The statistics seem to be stacked against businesses requiring investment, however, there are some fundamental reasons the raft of failures happen and it can be identified as being the fault of marketing.
Before you make a move, talk to us over the telephone or a zoom call and we can point you in the right direction and offer a different perspective than any other marketing organisation or individual.
For more insight to investment considerations, take a look at our articles:
Over the years, marketing, sales, customer services and support have become recognised as revenue generation areas in need of a new management style and structure. It's no longer a choice to keep business units in silos.
The essential 'must-have' is an attraction strategy that works. If you're relying on cold calling, the 400-1 shot, then you're probably driving that treadmill that's often fraught with stress and tension.
There is a clear demarcation within every business that identifies the operations that keep everything going, i.e. Technology; the ability to tell people you exist, i.e. Content; and the structure that keeps the money rolling in, i.e. Revenue. This is why it is essential you have access to a B2B Digital Selling Consultancy who can ensure a blended approach and map out a long-term strategy that increases your long-term profitability.
How you dress it up is up to you, however, with the rise of the Chief Growth Officer (CGO), responsible for the above three business areas, it is easy to see why a CGO or Chief Revenue Officer is gaining more clout in the boardroom. Too often however, these people predominately have a sales background and rarely have genuine experience of all three. The expectation of the CGO is to bring together sales and marketing, but to date, no one really has, because they are still 'peddling' the old sales and marketing business structure.
The illustration below and downloadable Excel Spreadsheet (The New Revenue Org Chart - available here) shows how businesses can move forward by redefining working practices and by adopting our strategies that enable a review of revenue generating personnel and budgets, will help to increase your profitability.
Read our blog about 'How to Pivot to Digital Selling: Sales & Marketing Transformation' (20 min read but well worth it!).
Or if you prefer, listen to The Rise of the B2B Chief Growth Officer podcast on our website page.
If you don't have a CMO or a CGO, that's not a problem. The important factor is to recognise the value of research before embarking on your journey, even if it means engaging a marketing consultant who will analyse your business and will make logical and effective recommendations to generate more income whilst not abusing your existing revenue streams.
With sound advice comes an acceptance and awareness that a consultant is working in your interests and not those of a graphic designer or web developer.
Before anyone makes a recommendation, there has to be a plan, a reason to do something and in business terms it has to be the exit strategy (i.e. how are you going to get out of, or move on from your current situation to something else!). I suspect your objective is to run a successful and profitable company that provides you with the freedom to choose what you want to do next.
This is only possible if your business has a healthy overhead-to-profit ratio. Consider this; the average turnover per-person-per-annum in the UK is between £80k to £168k.
Google operates at $1.2m per-person- per-annum and even more surprising, Peak Design, who make camera bags, were running at $1.4m pppa last year. Where do you think you should be?
More importantly, how can you expect to get closer to your goals without reorganising, or should I say adapting your structure to change the odds in your favour.
A successful new revenue strategy will enable you to make long-term financial decisions whether you decide to sell up, expand by acquisition or indeed continue to enjoy the fruits of your labour with your successful business.
We have all come across websites and companies that we feel don't live up to their hype. Digital Transformation is nothing new; you can go back to the 90s and Bill Gates' book, 'Business at the Speed of Thought' where Gates explains what technology was delivering for businesses then.
In today's arena, we have far more connected devices that enable us to deliver an unprecedented customer journey and experience. The skill is linking the disparate parts to create an 'eco-system' that demonstrates to your customers that you have thought about them and their needs before yours. This is where business process management software comes in and the ability to adapt legacy software to incorporate new functionality and integration of different software platforms.
Digital Transformation requires a company-wide vision accepting that technology affects and impacts everyone from the most junior member of staff to your best customer. Both of them and everyone in between have a digital connection to your business and Digital Transformation is your opportunity to exploit technology for the express purpose of making your business 'simply' successful and delivering to those connected people an experience that they love.
When it comes to marketing, how does digital transformation fit in? The answer is understanding what technology is able to do where human connection is concerned, not what what a salesperson says it can do. We help demisify some of the common misconceptions of marketing technology and help put your business on a trajectory for success without the hype.
No matter how long you have been in business, there is always room for advice or suggestions. We may not have all the answers but we are certain of one thing, 'if you do what you've always done, you'll get what you've always got'.
We have a passion for getting things right and completely believe in working smarter not harder. We understand technology from the perspective of selling it and using it. We also understand all about generating new business and moreover, we 'get' what it takes to run a business.
This website demonstrates our focus on helping businesses achieve their goal's. Whilst a great deal of focus is on revenue, we know that lifestyle plays a big part in the reasons you want run a company in the first place, however, we both know it can be a pretty lonely quest.
When it comes to marketing, there has been so much misinformation, peddled by inexperienced and unqualified people, it has made digital marketing what it is today and something not relied upon by most B2B organisations. Digital marketing has been reduced to simply having a digital brochure online when instead it should be the foundation of a business, capable to communicating your story and fundamentally defining your revenue, enabling you to increase your income per person per annum (pppa).
There are two primary factors in deciding to appoint a consultant and it's not about 'taking your watch and telling you the time' : -
1. Not knowing what to do and appointing a consultant to provide specialist advice and expertise.
2. Knowing what needs to be done, but requiring an external resource to help fast-track the changes required.
If this page and website resonates with you, then let's get together and have a chat about how your business and our strategies can work together.