eMarket2 Blogs

Hello again.

As the market slowdown begins to become a reality for more and more businesses, many technology companies are wondering just how deep this recession will become before it finally reveals its true nature.

But one thing is certain. However this recession pans out for the technology sector over the longer term, there is no doubt that that the fall-out has already prompted a radical new era of innovation in terms of B2B sales and marketing.  Not least among these is the introduction of a new consultative selling model which takes the radical step of integrating sales and marketing.

Why the shift? Having had it so good for so long, many of the bigger players had slowly allowed the scourge of complacency to seep into their sales and marketing efforts. With the onset of the credit crunch, this was destined to have a nasty impact down the line. Sales blamed Marketing; Marketing blamed Sales, so it made good sense to prise them screaming and kicking from their individual silos and lock them into the same room together to resolve their differences. And if the results at one particular well-known corporation are anything to go by, this single move has the potential to boost bottom-line performance by up to 40%.

Central to the new business development approach is the targeting of C level managers – that sector of the marketplace which often is aware that it needs a solution to optimise their business performance, but may not be a front line target for marketers. However, a new approach is required when winning their confidence, not least because senior executives want to be informed, but not sold to. The focus is on information, consultation and relationship building; helping senior managers to understand not only applications and technologies, but also, through engagement and education, the impact of their choices on their organisations.

And while I hate to say ‘I told you so’, this very demand generation model is something I’ve been advocating for the last decade.  So here goes, the Holy Grail for getting it right:

The New Hard, Fast & Unbreakable Rules of Technology Marketing

1. Better understand your target market and how to reach it. Make a point of finding out their problems and priorities. This will enable you to tailor your message and approach.

2. Target specific verticals and other segments – tailoring the approach to each in turn.

3. Build company-wide one-to-one relationships at the most senior levels, creating organisation-level marketing plans that target not just one individual manager, but all those involved or affected in an organisation (particularly at C level). Develop an integrated approach, combining IT marketing  and telemarketing

4. Get the message right:

• Focus on business needs and solutions and create messaging that resonates with a particular pain point.
• Make sure your messaging is consistent online and offline through multichannel marketing.
• Make sure that it’s relevant to the account, industry and role.
• Talk about their problems, and NOT your company.
• Don’t focus on your product, but on the need and the results that can be achieved.

5. Establish credibility using third-party associations and validations – case studies, testimonials, etc. Deliver concrete proof; and not a bunch of unfounded clichés about how good your product or company is.

6. Use a lead generation sales system, or database. You need to have a single, consistent system to manage and track each one-to-one contact with a customer across the sales cycle or buying process.

7. Enlist influencers as advocates to generate awareness and interest and to add credibility to build demand.

8. Deliver genuinely valuable information to your target prospects – don’t sell, inform!

9. Integrate sales and marketing toward shared goals. Back up your sales team with supportive marketing, such as events, whitepapers, etc.

10. And finally, be prepared to walk away from accounts that just won’t work – however much it hurts at the time; instead invest your time, energy and money in accounts that deliver. Remember Pareto’s famous 80/20 rule: 80% of your profits will come from 20% of your customers, while 80% of your energy will go into accounts that produce just 20% of your profits. Check it out and see if Pareto wasn’t right!

That’s it for now.

Thanks for reading.

And always to a higher response!

Norman

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