February 11, 2014 at 7:00 AM
Marketing leaders struggle with top-down allocated marketing budgets. Stop struggling with budgets determined with archaic means. Begin leveraging best practices when planning your marketing budget amount.
October 28, 2013 at 7:00 AM
Meet Doug Kuiper. He’s facing the extraordinary pressure of leading a Marketing organization at a firm poised to go public. This post gives an inside view to this pressure-packed situation. Even without the pressure of a public offering, CMOs are indispensable. They constantly prepare to meet tomorrow’s buyer behavior and marketing demands. The demands for the CMO keeping pace with the market require constant recalibration. Here are a few questions that every CMO must answer just to stay in the job:
- How am I going to educate my customers and prospects on new products or solutions?
- How do I enable the sales force to sell the new product or solutions?
- Who are the new competitors for new product or solutions?
- How am I going to generate enough new leads to support 30% of the sales number?
- How am I going to generate content for the new product or solutions throughout the buying process?
Add in branding, digital media, social prospecting, collaboration solutions, etc. and you’re scratching the surface of your job. Now add taking the company public and you’re in the shoes of Doug Kuiper, CMO at Covisint.
Doug recently shared his Top 10 Marketing priorities with SBI. We have included his insight as part of our 7th annual research tour: "How to Make Your Number in 2014: A Sales Strategy You Can Execute." Participate and learn what Doug and other forward-thinking executives are doing to make the number in 2014.
Doug’s priority list is specifically for the CMO preparing for an IPO. But they provide solid advice for any CMO, regardless of the current state of the business.
Doug currently leads Covisint’s B2B Global Marketing and Communications organization. He shared his Top 10 priorities with SBI. The following list of five is taken from the complete list available here.
5 Key Priorities
Here’s SBI’s insight into five of Doug’s priorities:
- Take advantage of the S1 – this is a unique opportunity to leverage the prospectus exercise and bring together a consolidated strategy. Some of SBI’s largest and more mature clients lack a consolidated sales, marketing and product strategy. The ability to communicate this internally provides the rails everyone on the team can rally around.
- Have the right sourcing model – balancing insourcing and outsourcing of marketing expertise allows you to have the best of both worlds. The ability to partner with the right agency provides speed and quality. Companies going public don’t typically have the luxury of a large marketing organization. The right balance allows you to be cost conscious with a high level of execution.
- Get your digital assets ready – This is the “failing to plan is planning to fail” approach. Preparing for what will happen after you go public is as important as planning to go public. The last thing a CMO wants is to launch with the inability to handle the traffic.
- Have visibility into the funnel and pipeline – Having a solid, high quality pipeline is essential, especially when going through the IPO process. It starts with great demand generation execution and continues with a solid lead management process. Rigid lead grading and scoring is a must and the role of the Lead Development Rep (LDR) never more important.
- Recognize the IPO as part of the journey – You have 2 full time jobs during the IPO process. One is preparing the company to go public and the other is making the number. You can’t take your eye off the ball of, “making the number” while you’re preparing for the IPO. It’s critical to show growth up to the IPO as well as continuing after.
Compare your best practices with Doug’s. Use the Comments section below to share what you discovered. Here’s Doug’s insight from five of his priorities:
- Take advantage of the S1 – your prospectus forces organizational agreement and alignment on your brand, its value propositions and business goals like nothing else in your career will. Use this unification on your message to your advantage.
- Have the right sourcing model – are you outsourcing PR? IR? Do you have an agency of record, or do you need one? Covisint used a hybrid approach that took advantage of existing internal competencies and found best-in-class partners for other activities.
- Get your digital assets ready - your web site and social media channels will see a unique spike in traffic in the first several days after your IPO. Make sure you celebrate the accomplishment by having a website and digital channels that are available and performing well.
- Have visibility into the funnel and pipeline – understand that outside interest in marketing performance and sales results will increase like never before. Focus on what matters to the top and bottom lines. A robust pipeline, steady stream of leads to sales and leading indicators that support quarter to quarter goal attainment.
- Recognize the IPO as part of the journey – once the haze clears and you begin to feel like a human being again, recognize that you still have a business to run, a pipeline to fill, business to close and customer wins to celebrate; the pace won’t ease, the focus will simply change.
Take the opportunity to learn more from Doug and your peers. If you have any questions or concerns contact me at email@example.com. I’ll walk through the top 10 priority guidance and spend 30 minutes helping you create your own list.If you enjoyed this post, never miss one again by subscribing your Email Here and/or subscribing to the RSS Here.
September 26, 2013 at 7:00 AM
This post is written for Marketing Leaders who describe themselves as students of the craft. You are exposed to hundreds of pieces of content a day. You find yourself having no time to figure out what is relevant vs. noise. You are competitive and want to outmaneuver your competitors. Let me net it out for you. These tips represent best practices from leading Sales & Marketing organizations.
June 28, 2013 at 7:00 AM
Every Marketing Leader wants to avoid getting labeled that they deliver poor leads. CMO’s strive to run best-in-class programs. They love successful programs. They love industry recognition and awards. That’s why it stings when you feel like the sales team is your downfall. This reminds me of a story from a client this time last year. She uncovered the root problem for sales and helped them make the company number.
Meet Kathy, a VP of Marketing whose team supports a 25+ sales rep company. She had believed her sales & marketing organization was perfectly aligned until a problem occurred. Q3 was approaching and the sales team was demanding more quality leads. Kathy’s team had rocked Q1 and didn’t suspect any future shortfall. In fact, they had doubled down on what was working well in Q1. They were also investing more in social media. What could go wrong with that? In Kathy’s eyes, she was setting the company up for a great year.
Q2 is now at its end
March 30, 2013 at 7:00 AM
As a Marketing Leader, you hear Pinterest in the news. The key question is should we be using Pinterest? Will it work for complex product/service offerings with 6+ month buying cycles?
March 5, 2013 at 7:00 AM
December 3, 2012 at 7:00 AM
World Class Lead Generation. Every marketing leader wants it. Not every marketing leader has it. Why not?
October 28, 2012 at 7:00 AM
October 19, 2012 at 7:00 AM
Over the last few months, marketers have witnessed one of the biggest changes to LinkedIn’s professional social network since its inception. The purpose of this blog post is to provide marketing leaders with a five minute executive summary explaining the new offering and what it means to your business.
LinkedIn currently at 175 million members continues to grow by 170,000 profiles a day. Now is the time to double down on your LinkedIn Lead Generation efforts by engaging these new features:
September 12, 2012 at 7:00 AM
As a sales rep, you need to tell the difference between opportunities that are just interested from those that intend to buy. Today’s post will define interest verses intent and why that matters to you. You’ll get three questions to ask about your opportunities to quickly identify those that intend to buy so you can close more business.
If you're saying “I know which of my opportunities intend to buy and which are just interested”, stop reading now. But if you’re like most sales reps, opportunities that are just interested are getting into the pipeline more often.