If I'm XM/Sirius, I would be losing more sleep over why people aren't knocking down the proverbial doors to take advantage of their quality offerings. I hope they make it, but if my class is representative of a large part of the potential subscriber base, satellite radio either doesn't resonate, or the companies have failed to communicate the value in a way that resonates. I hope that the management teams are Tuning In.
If you've ever worked in an organization or on a team that got caught up in the quest to create a new market you know that the experience is all consuming and exhilarating. I offer a number of leadership and management suggestions that might prove helpful on your own journey of market creation.
This post is certain to generate some controversy about a long-standing, big investment marketing tactic that I believe is increasingly irrelevant. At the worst, if you read this and at least think about scrutinizing your investment in this marketing approach, I've done my job. The thoughts were prompted by a recent article in BtoB magazine entitled: "Exhibition industry sees growth slowing." What a shocker. And while the economy is identified as the primary culprit for this slowdown, I submit that this tactic is a carryover from another era when people gathered information and insights about prospective suppliers or service providers in a very different way, and when lead generation was more about trolling and interrupting than pinpointing.
A passionate employee is like rocket fuel for your organization. These rare and valuable people build your brand, strengthen client loyalty, stimulate repeat business and energize your workplace just by their daily participation in your business.
I talk with a lot of marketing and sales managers and have spent most of my life working in these environments. In spite of the dramatic advancements in software tools available, I still find gaping holes in the way many sales and marketing organizations manage and account for the flow of leads into the sales pipeline. Although there are undoubtedly some technology constraints, I suspect that the primary issue is one of process more than anything else. Employed properly, changes in the output of the lead refinery foreshadow expansion or contraction of volume in the sales pipeline. Here are some thought-starters:
When was the last time that you had one of those "Wow" experiences as a customer, where you walked away "surprised and delighted" about how you were treated? Travel a lot? It probably doesn't happen for you with the major air carriers. Most of my customer experiences with the airlines leave me shocked and disgusted. I'm convinced that the airlines study Customer Service Secrets of Attilla the Hun. Shop in Big Box retail stores? Similar story...perhaps without the edge of nastiness that the airlines (or cell phone or cable) companies have mastered. All of this changed for me recently, as I found myself on the receiving end of two different transactions that left me absolutely surprised and delighted. And no, they didn't take place with an airline, cell-phone, cable or big box company. They were two retail establishments that clearly didn't get the memo that you have to be nasty to your customers to succeed in this world. What is it about leaders that tolerate miserable customer service from their employees?
If your company is involved in a merger, there is one certainty. Everything will change. Regardless of the carefully crafted words in the press release. (Unless of course your company is being purchased by Warren Buffett, who is famous for only buying well-running companies and leaving them alone to run well.) During the past few days, I talked with two associates going through mergers in very different industries, and both were attempting to convince themselves that things would be fine following the merger. They both cited the "no expectations for layoffs" verbiage in the press releases announcing their deal, and both engaged in some self-rationalization about the importance and "safety" of their respective departments. My instinct was that neither individual truly believed what they were saying. They should trust their gut on this issue.
Few roles in B2B and technology organizations carry loftier expectations or face more challenging tasks than that of the Product Manager. This position tends to be backed by a job description with responsibilities that makes many executive roles look tame by comparison. The right person in this important role can mean the difference between wild success and mediocre performance for the business. And while organizations commonly under-staff (both in number and in power/experience) and over-describe (expectations are excessive), it is a thing of beauty when you latch onto a professional Product Manager that understands how to build value through this role. This super-employee operating in this tough role consistently gets my vote for MVP.
With apologies for doing a poor imitation of Jerry Seinfeld, "What is it about Sales and Marketing professionals that they just can't seem to get along?" These two functions have battled for years and I fault the leaders of both functions as well as senior management for failing to create the conditions required for collaboration and success.
Too many top executives in B2B organizations still equate the function and value of marketing with marketing communications. While the field of marketing has advanced considerably in the last two decades, the view that marketing equals leads, tradeshows, press releases and a web site is still fairly commonplace in the B2B world. This narrow view of marketing leaves money on the table in terms of what organizations should be deriving from a properly conceived approach to marketing. It all starts with setting the right expectations.
