The Hard Corps Marketing Show
My Marketing Mentor talks Measurement -David Meiselman- Hard Corps Marketing Show #100

My Marketing Mentor talks Measurement -David Meiselman- Hard Corps Marketing Show #100

October 10, 2019

Marketing combines creativity and statistical analysis to reach a company’s audience. Without measurement of how marketing programs perform, a marketer is unable to see their impact. 

Casey Cheshire’s marketing mentor, a Marketing Leader & Strategist, and the CMO of ezCater, David Meiselman, discusses the importance of measurement in marketing and provides strategy and examples of different ways to measure marketing programs.

Career advice from a marketing mentor, how to dig into your audience and speak their language, this episode is filled with all the takeaways you would expect from number 100. Check it out!

 

Takeaways:

  • Causal impact analysis takes the prediction of how a program is going to perform against how it actually does, and uses the difference to measure the success of a marketing program. 
  • “...the whole point of mass media is that you end up reaching enough of the right people that you get it to be economically effective.”-David Meiselman
  • Some customers are more valuable than others. What is the long-term value divided by the customer acquisition cost?
  • Be sure to also market to the core of what people need. For example, a one-time transaction versus the root of the problem that will drive customer retention.
  • One of the never changing aspects that makes effective marketing, is telling a story in a way that is compelling and resonates emotionally with an audience, while solving a need they have.
  • Get to know your audience by understanding digital behavior on your website, email and ad testing results, and also through conversations. 
  • Have conversations with your current customers and potential buyers. Listen to the language they are using to describe their problem. How else do you understand the audience without listening?
  • David’s advice for marketers in their early career is to do some selling.
  • Understand where your audience is consuming content. Is it podcasts, blogs, webinars, etc?
  • Multi-touch attribution is a good way to measure marketing programs in terms of receiving an understanding of the impact trends. What programs perform well at different parts of the customer journey? It is not best practice to associate specific dollar amounts from money spent on particular campaigns to the revenue generated.
  • As you grow in your marketing career, take the opportunity to understand statistical analysis, develop your ability for copywriting, and your skills in all areas of marketing.
  • Find a rocket ship of a company and just get on. You will experience and observe great growth and change. 

 

Links:

 

Busted Myths:

  • Mass media marketing cannot be approached in a measurable way. - With using measurement like causal impact analysis, mass media can be approached in a measurable way. Marketers can get a baseline of performance and then overtime have a predictive model of how certain areas will perform. Then how the program actually performs versus the prediction, is the difference of how well or not well the program is doing. The delta between the prediction and the actual performance is the measurement.
Conversational Marketing’s Human Advantage - Maura Rivera- Hard Corps Marketing Show #99

Conversational Marketing’s Human Advantage - Maura Rivera- Hard Corps Marketing Show #99

October 3, 2019

When you hear the words conversational marketing, what do you think of? Is it a chatbot? What is conversational marketing really, just another trend? 

A marketing leader at the forefront of conversational marketing, and the VP of Marketing at Qualified.com, Maura Rivera, asks the audience to open their eyes and see conversational marketing as so much more than just bots. Are you not buying it? Have your opinions challenged and check it out!

 

Takeaways:

  • Conversational marketing will expedite the process of marketing passing leads to sales. In the past, leads went to the website, filled out a form, and then they waited. The sales team had to follow up and marketing was left trying to make sure that sales connected with that lead. With conversational marketing, it’s instantaneous.
  • The last mile refers to when qualified visitors get to the website and now they need to get across the finish line to conversion and enter the sales cycle. Conversational marketing helps to get these qualified visitors across the finish line.
  • The five-minute rule - You are 100x more likely to get engagement from someone if you get back to them within five minutes of them engaging with your marketing materials, versus if you get back to them an hour later.
  • Businesses make a huge effort to drive traffic to their website, why not be there to answer a visitor’s questions?
  • Bots are great for gathering more qualifying data on website visitors and booking meetings with the sales team while the sales team is away, but it should not be the sole focus of conversational marketing.
  • A qualified lead differs for each company according to their ideal customer profile, but for example, it might be the VP of a company that is looking at a business’ pricing page. A sales rep would want to talk to this visitor.
  • To personalize your conversational marketing experience you provide to target accounts, ask yourself, how can our business engage with these targeted accounts when they come to our website?
  • Forms still have a role. They are great when visitors want to download a piece of content and register for an event or webinar.
  • Prioritize your time, if you are doing everything you are not doing anything. What do you want to accomplish this month? What will make the biggest difference in terms of converting your target accounts?
  • Keep your hero message about your business on the homepage simple. If visitors go to your website and cannot figure out what your business does, it is a missed opportunity. If they are not your direct target, they could be a referral or an influencer.
  • Take the opportunity to learn about every element of marketing and also the elements outside of marketing. Surround yourself with smart people and never stop learning.

 

Links:

 

Busted Myths:

  • Conversational marketing is all about chatbots. - Conversational marketing is so much more than chatbots, that is just a piece. What it is really about is having real-time conversations with human sales reps, with visitors on a website that are ready and wanting to communicate.

 

Shout Outs

  • 31:28 - Nate Skinner
Marketing Attorney Talks GDPR - Gyi Tsakalakis- Hard Corps Marketing Show #98

Marketing Attorney Talks GDPR - Gyi Tsakalakis- Hard Corps Marketing Show #98

September 26, 2019

When is the last time you talked to a lawyer about GDPR compliance? When is the last time you got to talk to a lawyer who is also a marketer? Wouldn’t it be great to hear from someone with both perspectives?

Now you can!

An Attorney, Digital Marketing Advisor, Podcast Host, and the President of AttorneySync, Gyi Tsakalakis, brings GDPR, email marketing, and SEO centerstage with his years of experience in law and marketing. Have you ever heard someone say “consult your legal counsel”? Check it out!

 

Takeaways:

  • People hire people based on knowing and trusting them. With the internet, a business can nurture relationships with their buyers prior to them getting at the stage in their cycle where they are shopping around. 
  • GDPR stands for General Data Protection Regulation, and it is a law that has been enforceable since May 2018. It was put into practice to protect people’s data and give them the right to consent to process their data and the right for them to be forgotten by a company.
  • The basic principles to be GDPR compliant is to get consent, get the record of that consent, if there is a data breach, report it, and then have clean data where you can remove someone’s information if requested.
  • Read the terms of your software and see what the data retention policy is. This will give you a better idea if the data that you delete, is actually deleted.
  • If you are outsourcing your marketing, be sure that the third-party practices are in compliance with GDPR and CAN-SPAM as you could be held liable.
  • When considering whether or not to spam links to build your SEO, consider the integrity and reputation of your business. Do you want to be around for a while or do you want to be around for a year?
  • With SEO, get informed about how search engines work.
  • “Meh links - Links still drive the engine at Google...they want to build the world around their servers.” - Gyi Tsakalakis
  • Find ways to earn links from other websites that are relevant to your business in terms of topic and location.
  • Culture happens whether you are intentional about it or not. If you don’t prioritize it with a core framework, it can become toxic.

 

Links:

 

Busted Myths:

  • People don’t use the internet to hire lawyers. - They DO use the internet to find lawyers. Lawyers may say that most of their inbound comes from word of mouth, however, those word of mouth conversations are now happening on the internet through reviews, and private groups on social media such as Facebook and LinkedIn.
  • GDPR only applies to you, if you are in the European Union. - This is false because if your business is in the United States and it processes data of a resident in the EU, then you are subject to being GDPR compliant.
  • We live in a direct-response only world. - We do NOT live in a direct-response only world. Buyers are everywhere in their journey. They may see an ad, then they are on social media, then they are attending a webinar, and then reading a blog post. The journey model that marketers are dealing with is no longer a structured funnel as there are so many different touches that buyers interact with.
  • Outbound sales is a dead concept. - Outbound sales is not dead. You need to pick your battles, put time in researching your customer, and then go after the targeted accounts.
  • Domain authority is a good indicator for SEO. - Domain authority is NOT a good indicator of the link quality in the local SEO Universe. It is Moz’s proxy metric for measurement.

 

Shout Outs

  • 48:34 - David Meerman Scott
A Trailblazer’s Guide to ABM - Nate Skinner - Hard Corps Marketing Show #97

A Trailblazer’s Guide to ABM - Nate Skinner - Hard Corps Marketing Show #97

September 19, 2019

Everyone is talking about account-based marketing. It has become a trend and one that has been made out to be complex. It’s time to simplify it to its core.

A Multi-Industry Marketing Leader and the VP of Product Marketing at Salesforce, Nate Skinner, unmasks the notion that ABM needs to be more than what it is, which is just marketing to accounts. Have you read countless articles on ABM, but just want the simplified guide? Then check it out!

 

Takeaways:

  • Account Based Marketing is a way to focus marketing efforts rather than to spray and pray. Decide on the strategic accounts your business wants to reach and then think about the people at that account that you want to market to.
  • Sales and marketing alignment is more of a partnership now. The two departments speak two different languages, but they need to be focused on the same goal, revenue.
  • “It’s a big opportunity for us marketers to think about the language of sales and then incorporate that into our way of doing things.”-Nate Skinner
  • As a marketer, go to a sales meeting prepared to give marketing updates, but start with the sales number. Speak sales in terms of sales to build that partnership. Make them understand that you have the same end goal as them in mind.
  • None of the metrics that are green for marketing matter if the revenue and sales targets are not also green. Marketing and sales own the responsibility of driving revenue together.
  • Look at your audience and think about where they are spending their time. Consider how you can maximize your marketing on those platforms for a better reach.
  • Podcasts allow people to learn anywhere and everywhere that they are, but it also allows a business to expand their brand reach.
  • Trailhead is a free training tool that tears down the barriers for people to learn the skills needed to be successful and makes professional development accessible to everyone.
  • Understand your business’ product or service and how it makes people feel. If the buyer does not have your product or service, what do they have?
  • If you are a marketer and you have never been in sales, listen to a half-day of sales calls. It will give you a picture of what sales goes through on a day-to-day basis and you will get to see how your messaging is coming across to prospects.
  • If you are in a stage in life where you are changing careers every few years, do not change anything. The skills that you learn with each experience will only make you better later in your career.
  • Don’t be afraid to dream. Be future minded and think about where you want to be down the road and then execute the steps you want to do to get there.

 

Links:

 

Busted Myths:

  • ABM is not new and it is being made to be something that is very complex. In simple form, it is just marketing to accounts. It focuses marketing to target strategic accounts and then strategize how to market to people at those key accounts.
  • ABM is not binary, where if marketing does ABM then they can get rid of all their other strategies. Most companies use ABM to augment their marketing. Targeting specific accounts allows teams to customize the customer’s journey according to their persona and behavior.

 

Shout Outs

  • 47:02 Greg Shotland
  • 1:01:04 Arizona State University
The Content Marketing Troublemaker - Robert Rose - Hard Corps Marketing Show #96

The Content Marketing Troublemaker - Robert Rose - Hard Corps Marketing Show #96

September 12, 2019

If you stopped contributing to your company’s blog tomorrow, would anyone miss it? Why are you writing for your blog? What stage in the buyer’s journey does it contribute towards?

These are all questions that if you have not asked yourself regarding your content marketing...it is time you did.

A Keynote Speaker, Podcast Host, Best-selling Author, and the Founder & Chief Troublemaker of The Content Advisory, part of the Content Marketing Institute, Robert Rose, stirs up trouble by challenging marketers to consider the point of their content marketing. Has it been awhile since you created strategy around your content? Then it is time to make some trouble. Check it out!

 

Takeaways:

  • If you were to stop all your content marketing tomorrow, who would miss your content? If the answer is no one, then you have a problem.
  • Is your content as good as the product or service that your company provides? If it is, then think about how you can make it better, because your content should be even better than your product or service as it is what draws your ideal customer to your offering.
  • When considering your content, think about what makes your content different from your competitor’s. What does your content offer that there’s does not?
  • It is not that the attention span of your audience is the same as a goldfish. It is that their patience is reduced for what content they are willing to spend their time with. For example, your blog article versus an entire season of Game of Thrones.
  • Content goes unused because there is so much out there offered to consumers that they are more selective about what they will dedicate their attention to. You need to consider, why should your audience spend the time consuming your content?
  • Consider how long it will take before your content generates profitability. It will not be the day after it’s released, but think about 6 months from now or a year from now.
  • To track ROI on a podcast, the podcast needs to capture the audience as prospects to then be nurtured. A way to do this is to have a newsletter that the audience can subscribe to.
  • Prior to starting a podcast, build an audience first either with a blog, newsletter, book, videos, etc.
  • Where does your content fit into the buyer’s journey? Does it assist buyers that are at the top of the funnel, middle of the funnel, or at the end?
  • “Figuring out the function you want to do is way more important than the form you want to do.”- Robert Rose - What do you want your activities to be on your perfect day of work?

 

Links:

 

Busted Myths:

  • Content is easier, cheaper, and more efficient than ads. - This is NOT the case. Content marketing done well, is more expensive, time consuming, and more difficult. It is everyone’s job, but no one’s strategy.

 

The Key to Rehumanize Your Business - Ethan Beute - Hard Corps Marketing Show #95

The Key to Rehumanize Your Business - Ethan Beute - Hard Corps Marketing Show #95

September 5, 2019

Videos are everywhere. You may be thinking, videos are great, I love watching them, but I do not want to be the one in front of the camera. Are you a marketer, salesperson, in customer success, or anyone in business? Then it is time to be on video.

A Marketing Strategist, Author, Podcast Host, and the Chief Evangelist at BombBomb, Ethan Beute, delivers a breath of fresh air to the audience to say that videos do not have to be overproduced, to be great. Do you have doubts about video? Then check out this episode!

 

Takeaways:

  • The Shiny Authenticity Aversion - We are all so familiar with marketing that is produced and well package, that now a consumer’s guard is up when they experience something like this. The trend is going towards that people want authenticity.
  • “Sometimes the simplest videos get the most engagement.”-Ethan Beute
  • The quality of the video that needs to be made, can be determined by the context that video product will be in. Think about the audience volume it will reach and the longevity that the video will be accessible.
  • Videos can be worked into marketing automation. Think about what part of your marketing is lacking that human touch?
  • “[Videos] are about leading with your very best sales asset, yourself.”-Ethan Beute
  • Your first video may not be great, but accept it is a normal part of the process.
  • Get over the fear of being vulnerable and just start taking videos. Have confidence in yourself and your sincerity to the topic of content you deliver.
  • You cannot fake the time and attention that a video communicates. Taking a video shows that you care.
  • Text can be interpreted in several ways but with video, the tone and message are clear.
  • An example of using video for your business could be in your customer experience department. Take the top five tickets that department receives and turn the solutions to those top five, high volume tickets, into videos. This then makes a scalable process.
  • “Ultimately we come to life in connection with other people.”-Ethan Beute
  • Call to action by Ethan: If you are a fan of the Hard Corps Marketing Show, you have listened to several episodes and have learned a lot, go on and leave a review.

 

Links:

 

Busted Myths:

  • To do video well, you need to have a producer and the right lighting. - This is not the case. You do not need to outsource a video for production as a lot of the videos that get the highest engagement are the ones that are authentic without the glossy finish. People want to connect with what they can trust, something that is real.
The Buyer Persona Game Plan - Shannon Prager- Hard Corps Marketing Show #94

The Buyer Persona Game Plan - Shannon Prager- Hard Corps Marketing Show #94

August 29, 2019

Do you understand the buyer personas you are marketing to? Do you have the data on these personas? Do you think the data you have has all the answers?

A Marketing Leader, Mentor, Author, and the President and Founder of Leadit Marketing, Shannon Prager, delivers a call to action to the audience to dig deeper to get the full picture of your buyers in their journey to form personas. 

Have you just been relying on data? Check out this episode and get to the root of your buyers’ decisions.

 

Takeaways:

  • Don’t simplify a detailed issue like understanding your buyer personas.
  • “Just because something makes sense at the company you work for doesn’t mean that the buyer is using that same terminology.”-Shannon Prager
  • A good way to start a B2B buyer persona interview is to first understand how their organization is set up, who does the buyer report to, what matters to the higher-ups, then ask about the trigger for their original need, then go into the evaluation process.
  • Once you have conducted several buyer interviews, you will start to be able to see common language, triggers, and pain points, with which you can then form segmented groups.
  • Be curious and dig into the full buyer experience when conducting buyer interviews.
  • Understand what your business needs are first before hiring an agency to help you with them.
  • To create a demand gen strategy, first understand your customer, then consider how you relate to them. What content can you use to reach them at different stages of the buyer’s journey?
  • Getting your “always campaigns” off the ground is a good start when you are just beginning your marketing journey. These campaigns could include email marketing, social strategy, a nurture program, and a web experience targeted towards the personas.
  • Use your weaknesses to grow your strengths. Get out of your own way and do not let that weakness keep you from achieving your goal. Go about reaching your goal in a different way. 

 

Links:

 

Busted Myths:

  • All businesses have a firm understanding of their buyer personas.-This is not the case. Often times, companies have data that they think gives them a firm understanding of their buyers, but buyer personas are so much more than the overall data. It’s about asking the right questions and getting into the details of understanding their organization, what matters to them, what triggered their need to start the search for their purchase, what was their evaluation process like and so on. This is not an area to cut corners.
The Customer Abundance Formula - Peter Fader - Hard Corps Marketing Show #93

The Customer Abundance Formula - Peter Fader - Hard Corps Marketing Show #93

August 22, 2019

How do you prioritize your marketing efforts for customer retention and then use that to find your ideal customer? It’s more than just the profile. It’s more than the cost of customer retention vs. acquisition. So how is it done?

Step through the door and have a seat because class is in session with Marketer, Author, Entrepreneur, Co-Founder & Director at Theta Equity Partners, and Professor of Marketing at the Wharton School of Business, Peter Fader. He educates the audience on what it means to start implementing customer centricity and how to change your mindset from cost to value.

 

Takeaways:

  • Customer heterogeneity-The idea that customers are wildly different from each other. There is no ONE customer, they are all different.
  • Each customer is the unit of analysis. What do the customers respond to? How can your company build relationships with them? They need to be a business’ focus.
  • Customer Lifetime Value (CLV)- “The future projected profitability for each and every customer.”-Peter Fader
  • To consider CLV, the marketer needs to think about how long the overall relationship with this customer will last, how many orders they will buy, what is the size of those orders, and what is the profitability margin of each one?
  • The Recency, Frequency, and Monetary value (RFM) of purchases, that each customer’s history has, all influences their customer lifetime value.
  • Recency, frequency, and value only apply to non-contractual purchases, this outlook is best used with one-off purchases.
  • Taking into consideration RFM, allows business owners to decide whether they want to prioritize their efforts towards a customer that is threatening to not purchase again or if they should place their focus on a customer that just signed on.
  • Consider an abundance vs. scarcity mindset, are you more concerned with the cost of customer retention vs. acquisition, or are you concerned with the value that the customer will have overtime for your business?
  • Being an entrepreneur provides for an exciting educational experience. Do not be afraid to take a risk and see if your business model will work.

 

Links:

 

Busted Myths:

  • Businesses need to be concerned with THE Customer.-This is not so, there is no ONE customer. Businesses need to be concerned with understanding all the different customers they might have and prioritizing their efforts to the right kind of customers. Customers are all different, therefore companies need to consider how their product or service should be marketed to these different kinds of customers.

 

Shout Outs

  • 9:27 Lester Wunderman, Father of Direct Marketing
  • 50:43 Leigh McCallister
  • 54:04 Zachery Anderson, Electronic Arts
Preparing for the Context Revolution - Mathew Sweezey - Hard Corps Marketing Show #92

Preparing for the Context Revolution - Mathew Sweezey - Hard Corps Marketing Show #92

August 15, 2019

Is your marketing limited based on principles of the past? Is it shackled by reducing your day in and day out efforts to ROI alone? It’s time to realize what’s in the past and what marketers need to realize and implement for the present and future.

Author, Marketing Leader, Podcast Host of the Electronic Propaganda Society, and the Principal of Marketing Insights at Salesforce, Mathew Sweezey, urges marketers to recognize what’s going on in the present versus the past and the importance of looking at the whole picture of the value that marketing brings. 

 

Takeaways:

  • The length of a buyer’s consideration process when weighing risk and making a purchasing decision, depends on the level of the risk that is involved.
  • Be careful to adopt the ways in which other companies are doing their marketing. We often assume that other people have done their prep work to make sure what they are doing is effective, but you could be blindly following the blind.
  • “We should not think about ourselves as manipulators, we should think about ourselves as community builders, as helpers, enablers.”-Mathew Sweezey
  • Create what you love, if you like what you are creating then you’ll be consistent which is important.
  • When creating content, keep in mind, the execution of the idea is what matters, not the format.
  • There is power in community. If there is an area or areas where you lack knowledge, surround yourself with experts in those particular areas. Create a relationship of sharing expertise.
  • “ROI is not an effective measure, it’s an efficiency measure.”-Mathew Sweezey
  • ROI does not prove the value of marketing, consider using a weighted pipeline in addition to show value.
  • Weighted Pipeline - How much is in our pipeline that is actually ready to close? When is it going to close? At what degree of predictability is it going to close?
  • Weighted Pipeline measures the volume inside of each stage of the buyer’s journey, the velocity of people moving from stage to stage, and the efficiency that people move to the next stage.
  • A weighted pipeline shows the value of marketing because it shows the total amount of demand, when that demand is going to convert into actual revenue, and the efficiency and speed in which it’s going to convert.
  • Career advice: Don’t sweat the small stuff, be intellectually curious, and find a way to maximize the thing you love most in life.

 

Links:

 

 

 Busted Myths:

  • You will get conversions if you hit the right person, at the right time.-This is not the case. This notion came from a time when marketing could not hit the right person at the right time, now, that is no longer the case. The average conversion rate of a Google Ad that is placed for the right person at the right time is 2.35%. This means that 98% of the time, they are not working.
  • B2B and B2C buyers are different.-B2B and B2C buyers are the same in that they both are having to consider and mitigate the risk of their purchase. B2C buyers are researching now more than ever before they purchase and are considering the weight of their purchase. B2B buyers mitigate risk that can affect their whole company. They both are doing risk mitigation in their buyer’s journey.
  • ROI is the best way to measure the impact of marketing. - The value of marketing cannot be boiled down to just ROI. How do you attach a dollar amount to brand awareness and word of mouth? The best way to measure the value of marketing in addition to ROI is a weighted pipeline.

 

Shout Outs

  • 11:47-Marshall McLean
  • 28:25-Tom Webster, Edison Research
  • 47:28-Aaron Ross “Predictable Revenue"
Multi-touch Attribution vs. Lift Study - Andrew Krebs-Smith - Hard Corps Marketing Show #91

Multi-touch Attribution vs. Lift Study - Andrew Krebs-Smith - Hard Corps Marketing Show #91

August 8, 2019

Is your company gathering a lot of data? How much extensive analysis do you do on it? Do you then make business decisions off of it? What happens when the data you get is not 100% reliable?

A Social Advertising Strategist and the CEO of Social Fulcrum, Andrew Krebs-Smith, challenges marketers to pay attention to purchasing behavior and to not rely too heavily on all the data they receive. Is multi-touch attribution really the answer to seeing what’s making the most impact in your marketing efforts? Listen and find out!

 

Takeaways:

  • A company may not capture reliable purchasing behavior data across their market because it’s difficult to understand a user’s behavior across electronic devices. They may click on an ad on their phone, but not their laptop, or vice versa.
  • Consider asking yourself, is it worth gating content, or product, to have an increase in data capture, but a possible slight decrease in conversion because a small portion is not willing to give up their email?
  • Multi-touch attribution is difficult to be relied on because buyers are interacting with marketing materials before they click. For example, an event could happen that triggers the buyer to have a need. Then they might see a few ads, which leads to an idea of doing a search. Then they click on your ad or fill out your form. How do you track that?
  • Consider who the influencers are in the buying decision. How can you market to those influencers?
  • Higher education is not preparing marketers for what they need. The industry is changing too much. Having real-world experience will give them the tactical knowledge they need to compete and succeed.
  • Lift Study-When you have two groups, a placebo and a control group with a hard separation between the two. You run your usual ads to about 80% of your prospects where the 20% receive ads that having nothing to do with your product or service. Observing what happens between the two groups will allow you to see the impact that your ads are actually having.
  • When you are starting out in your career path, do not compare yourself to others around you. Encourage yourself and trust your instincts that you are right where you need to be.

 

Links:

 

 Busted Myths:

  • All the data that you get is reliable and therefore you should do extensive analysis on it.-This is not true. Often companies are spending time and resources to analyze and draw conclusions based on unreliable data. There is too big of a distance between advertisers and the actual consumers to ensure that all the data coming in is completely accurate.

 

Shout Outs

  • 36:54 lululemon
  • 1:03:08 Tim Ferriss - The Four Hour Work Week