Marketing Planning

High Growth Firms Spend Limited Budgets Differently From Lower Growth Peers

Just read a study that shows that high growth firms in professional services categories invested in marketing activities very differently from their lagging peers. Here’s how it breaks down: High Growth Firms put more emphasis on: Building awareness through advertising and PR Lead generation through channels such as direct mail, cold calls, trade shows and newsletters Web site upgrades Outside marketing experts and consultants Training and using non-marketing staff to generate business. Low Growth Firms were more likely to: Have no formal marketing plan Revise their strategy, structure or budget Focus on thought leadership activities such as publishing and workshops The 2008 study by Hinge  broke down companies by size and industry. The above trends were across the board.

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Mmmm, sweat sock pie.

Parts is Parts But Pie isn’t Pie. I’m often asked to consult on very narrow parts of a marketing and advertising program. For example: “Pete we just want to you tell us why our web site isn’t producing the number of leads we think it should.” Or, “Pete, just take a look at this direct mail piece and give us your recommendations as to how we can make it better.”. The problem is my guesses probably won’t be any better than your guesses. Sure, I can make pretty good guesses because I’ve spent the last two decades solving these types of problems but ultimately we will still be guessing. Guessing is the antithesis of great marketing. The trouble here is that we would only be looking at a tiny slice of the pie. Figuring out why the pie tastes terrible requires looking at the quality of all of the ingredients,[…]

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Marketing Vs. Sales – Ending the Turf Wars

In an ideal world, sales teams and marketing folks should be best buddies. In this ideal world, business would come easily, profit would grow on trees and everyone would hug at the end of the day. Ok, back to the real world. It is not uncommon for sales and marketing departments to have divergent agendas. This can range from teams that simply argue over details to outright hostility. When the atmosphere is closer to the latter, this type of culture can seriously effect business development efforts, increase sales costs and generally make everyone’s lives miserable. Bringing these teams together to create a three hundred and sixty degree information cycle is critical to achieving superior growth. Sales should constantly provide feedback to marketing and marketing should reciprocate with tactics and strategies that support the sale methodology. That was easy to say but how do you make it happen? The key is[…]

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