Tag: martech

The Key to Achieving Sales and Marketing Alignment in B2B

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As the marketer of a software service product, Meagen Eisenberg isn’t just a CMO. She is also a salesperson, which is why her alignment with MongoDB’s sales team proves critical to the company’s rapid success. Through her influential roles at multiple B2C and B2B tech companies, Meagen can attest to the fact that any company, no matter its audience, can create a pattern of collaboration and success in creating a unified buying path.

From insights about demand generation, to Martech, to work-life balance, Meagen’s marketing insights apply to CMOs everywhere, whether you’re B2B, B2C, or even B2D. When reflecting on her career, Meagen shares that the alignment of sales and marketing teams has transformed companies that she has worked for, including MongoDB.

On this episode, you’ll hear Meagen’s top 5 ways to increase your company’s internal collaboration, as well as discover the engaging marketing strategies MongoDB uses to attract developers. She also explains why the marketing and sales funnel strategy isn’t dead, and how it can be used in innovative new ways. For more on B2B demand generation, check out our 6 tips in our special report, here. 

Learn why collaboration is the future of marketing by listening here.

                  Subscribe on Apple Podcasts – Stitcher – or Podsearch

What You’ll Learn

Meagen’s top 5 ways to increase your company’s sales and marketing alignment

Just like countless other companies, MongoDB has struggled with sales and marketing alignment, as well as collaboration between teams. As a tech company that offers a database as a service, Meagen has learned to overcome the challenges of managing teams made up of employees with varied skill sets. Developers, salespeople, marketers, and more all want MongoDB to succeed, but approach it in different ways.

From her years in both engineering and marketing, Meagen has learned how to create the ultimate environment of collaboration. Check out all the details behind her top 5 strategies for alignment on this episode.

  1. Understand your sales funnel and how it converts leads into customers
  2. Intentionally build all of your systems together
  3. Focus on authentic communication
  4. Identify the stopgaps in your sales system
  5. Invest in your tech stack (but don’t add more tools until you’re ready)

MongoDB uses creative and engaging strategies to hook their audience

After Meagen and her team built a solid team, together they were able to develop creative marketing strategies. They hook interested followers through live events, energetic brand advocates, and a speedy website that always delivers to their followers. They fill their robust website platform with content that educates and inspires. This content is found in many forms, such as white papers, blogs, thought leadership pieces, product demonstrations, and compelling customer stories.

Marketing and sales are about putting the right information in front of the right people at the right time

Alignment between your marketing and sales departments doesn’t happen overnight. Meagen and Drew discuss how a business that sells directly to consumers as well as to other businesses can approach their content marketing strategies. For example, when a B2B prospect visits your website, they most likely need to be connected to an account manager and salesperson that can address their specific needs and questions. A B2C prospect, however, is much more likely to explore your website and fill out an inquiry form all on their own – without ever speaking to a salesperson. The key in content marketing and sales is to make it obvious to your followers who you are and what you do, that way you can address their questions before they even think of them.

Timeline

  • [0:30] MongoDB is a massive resource for CMOs
  • [2:04] Meagen’s Renegade Rapid Fire segment
  • [12:16] Alignment between sales and marketing is critical – use these strategies to succeed
  • [16:03] Connecting with developers is key
  • [19:16] The sales funnel is not dead in today’s marketing world
  • [21:35] What’s the difference between MongoDB and a datalink system?
  • [23:11] MongoDB hooks their audience through a variety of creative marketing tactics
  • [30:32] Balancing B2B and B2C audiences for your business
  • [39:24] Meagen’s problem-solving thoughts for the challenges facing marketing

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The Art of Storytelling

Posted on by Drew Neisser

Storytelling is an important concept, but it’s often misunderstood. It is absolutely crucial for creating meaningful marketing efforts that stand out, but few B2B marketing leaders are using it to its full potential.

On this special 80th episode of Renegade Thinkers Unite, Drew revisits 5 past interviews that highlight key elements of successful storytelling and its use in marketing.

To hear these insights from successful story-driven marketers, click here to listen now!

Subscribe on Apple Podcasts – Stitcher – or Podsearch

Why you need a signature story rooted in emotion – with David Aaker of Prophet

David explains that when trying to convey a message, a CMO has two options: share facts or tell stories. And facts don’t work. B2B storytelling must magnify the problem, offer a solution or accentuate the outcome. This can artfully be done by combining customer testimony with just enough facts to provide a reliable level of reality. However, simply listing data and facts is a record-keeping entry – not a compelling marketing campaign.

How and when to put emotion into your ads – with Manny Rodriguez of UC Health

Manny’s healthcare marketing philosophy goes against the grain: He always strives to connect to the human side of B2B marketing by putting the patient first. He shares how to nurture the emotional component of storytelling to effectively connect with the audience, as well as his 4 top lessons all CMOs should learn.

Brand identity and storytelling need to be strongly united – with Martin Häring of Finastra

One of the biggest challenges any CMO will face is the task of creating a new brand identity without losing the loyalty and enthusiasm of existing customers. It goes far beyond choosing new colors, a new name, and a fancy new logo. From legal issues, to market research, to the process can be daunting. Martin discusses the foundational principles – including storytelling – that helped him get the job done quickly and successfully.

With innovative storytelling, marketing campaigns can resonate with millions – with Rich Kylberg of Arrow Electronics

Arrow’s story-driven marketing campaign reached people around the world. Rich and his team connected with Sam, a former indy car driver who had become a quadriplegic following a crash in 2000. Arrow was given an opportunity to create technology with real human benefits, and to share a story that would engage people and bring about positive change. Some time after being connected, Sam was able to take his family for a Sunday drive again. Rich explained that Arrow wants to share stories that can “drive technology innovation forward and inspire people to dream big because anything is possible.”

How storytelling can be the foundation of a successful rebrand regardless of scale – with Carolyn Feinstein of Dropbox

With over half a billion worldwide users, Dropbox is major player in cloud storage. Despite their success, they wanted a to expand to ensure their continued status as an industry leader and innovator. With a story-driven campaign, Carolyn helped successfully execute the massive rebrand that coincided with a new company mentality.

Resources & People Mentioned

Connect with Drew

Quotes

  • Aaker: “The media world is clutter, today. It’s really hard. Into this context steps story.”
  • Häring: “In marketing, we are all storytellers. We have to create emotions.”
  • Feinstein: “At the end of the day, our role is to understand the people that we’re trying to reach deeply and to know the kind of stories that will resonate most deeply.”
  • Kylberg: “It was a wild success. This initiative totally transformed the company, totally pushed us into the dominant position in our industry.”
  • Rodriguez: “We took the risk of really tasking the patient with telling the story, and the payoff and the benefits have been huge.”

Best Strategies to Improve Your Marketing Technology Stack

Posted on by Drew Neisser

In this second installation of Drew’s interview with Eric Eden, CMO of Receipt Bank, they discuss additional strategies to improve your marketing technology stack. Be sure to listen to part 1 of this conversation on episode 71 of Renegade Thinkers Unite.

You have to have the right technology stack in place in order to be effective in today’s B2B marketing environment. After securing a budget and receiving buy-in from company leadership teams, selecting the right pieces to add to your stack is the next big step.

There are countless programs and applications available, but CMOs must avoid getting caught up in the newest, shiniest options on the market. By identifying your organization’s marketing and revenue goals you can then decide which programs will help you achieve those goals. Hiring the right staff and giving them the right training will ensure these pieces will positively impact your marketing efforts, which will drive leads to your sales team.

Don’t miss the engaging conclusion to Drew’s conversation with Eric – be sure to catch this episode of Renegade Thinkers Unite. Click here to listen.

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Marketing technology stack additions are expensive and extensive – ensure you know what it entails upfront to avoid disappointments later on

Adding a new piece to your organization’s marketing tech stack puzzle can be a complicated, lengthy process. In order to receive the highest level of buy-in from company executives, they have to understand all of the costs associated with the new product. Eric explains to Drew that CMOs have an organizational responsibility to outline all of the costs of the purchase, implementation, and staffing so that other key organization members are not caught off guard later on in the process. It’s better to have to fight harder for new team members upfront than try to secure additional budget figures after committing to a piece of technology. To hear Eric fully explain why being upfront when considering a new piece of technology is so critical, don’t miss his interview on this episode of Renegade Thinkers Unite.

Why the people you hire to manage the technology can make or break its success

Very few companies already have the necessary team members in place to handle a new piece of marketing technology. Drew and Eric discuss the importance of having multiple employees that can handle writing a campaign, implementing the campaign, and then analyzing and reporting on the data. If you only rely on one employee to handle these tasks the chances of critical information going unnoticed rises significantly. Your organization’s tech stack team needs to be flexible, highly skilled, and knowledgeable about areas such as system security and data flow. CMOs need to be able to convey this necessity to company leadership in order for new tech stack pieces to be most effective. Eric explains that “You’ll avoid countless problems by hiring the right people with the right skills.”

Avoid “new and shiny” distractions to focus on what your business truly needs

There is an abundance of programs on the market that can satisfy any B2B marketing need. But Drew and Eric urge listeners of this episode of Renegade Thinkers Unite to not be distracted by the “latest and greatest” programs or products. As the CMO of your company, you have the responsibility of identifying what it is you want to achieve and then finding a system that helps you achieve that goal. If you simply set out to build a marketing system, you can build layers forever. You should also avoid system overlap. Revenue goals and budget restrictions will also help you narrow down the available options. Finding the right piece of marketing technology and seeing it succeed within your company will be worth the extensive upfront research. You don’t want to miss this conversation and more, so be sure to give this episode your full attention.

What You’ll Learn

  • [0:30] Drew reviews part 1 of his interview with Eric Eden
  • [1:18] You have to understand all of the costs associated with implementing and staffing a new piece of technology
  • [6:03] Your tech stack team for new technology needs to be flexible and highly skilled
  • [9:54] Don’t get caught up in the new and shiny applications, focus on what systems will help you achieve your organization’s goals
  • [16:31] Narrowing your universe through account-based marketing (ABM)
  • [17:48] Using business intelligence to visualize your tech stack data
  • [20:15] Eric’s biggest frustration and challenge in B2B marketing technology stack spheres
  • [24:24] The future of B2B marketing technology and how artificial intelligence will impact the industry
  • [26:47] Final thoughts on marketing tech stack tools and the importance of product contract negotiations

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Using a Refined Marketing Technology Stack as a Revenue Generator

Posted on by Drew Neisser

When Drew recently asked a crowd of CMOs how much revenue marketing should directly generate, most said 5-15%. However, Eric Eden, expert CMO of Receipt Bank, claimed that marketing should be a company’s main revenue generator, bringing in 80% of all sales.

This uncommon point of view is explained and detailed on this episode of Renegade Thinkers Unite. Eric and Drew talk through the first two main steps of how to turn your marketing efforts into a revenue machine. They discuss the importance of having a solid foundation marketing technology stack, all of the details behind why evidence-based marketing is the norm, and how to secure a substantial marketing budget for your team. You can listen to part 2 of this interview here. 

You’ll learn a lot from part one of this conversation, so give it your full attention. Click here to listen.

Why a CRM is a foundational basis needed for any successful marketing or revenue-generating campaign

Eric explains on this episode of Renegade Thinkers Unite that without a functional and clean customer relationship management technology piece, your marketing will never turn into a revenue generator. He continues by saying that, “If you don’t have a good marketing technology stack that enables your demand generation engine, everything falls apart.” A solid CRM piece allows you to track leads, understand what is encouraging or hindering contract success, improves integration between marketing and sales teams, and is necessary when putting together a budget proposal. If a CMO is looking at upgrading a single piece of their marketing strategy, having a bombproof CRM platform needs to be at the top of the list. To hear why CRM technology is so critical, and to understand why Eric is so adamant about this piece of technology, be sure to give this episode a listen.

The importance of understanding evidence-based marketing to secure a substantial budget

Gone are the days where the phrase, “it’s complicated, just trust me!” can be successful in budget meetings with company executives. In order to secure the funds marketing teams need, CMOs need to understand how to articulate their marketing in in terms of data and evidence of success. The burden of proof lies with the CMO to persuade others why marketing as a revenue generator can work for the company. You have to determine how to frame things in such a way that makes people comfortable with spending dollars on marketing, build a common language that all teams and levels of employees understand, and prevent any misconceptions. Once you have set the stage and brought people over to your side of the budget debate, you can then begin to determine what percentage of the budget should be spent on each potential customer, and the ROI that would come from each prospective contract. This framing turns marketing into an investment, not a cost, and is the key to massive success. To hear Drew and Eric’s conversation surrounding evidence-based marketing and how it can ultimately be used to generate revenue, don’t miss this episode.

Transform your ordinary marketing campaigns into a massive revenue generator through automation

After a functional CRM piece, the next step to generate revenue is marketing automation –  the second most popular piece of a technology stack. Eric urges listeners of this episode of Renegade Thinkers Unite to understand that automation cannot and does not happen overnight, or even within 90 days. A truly successful marketing automation plan can take upwards of 6 months to design and implement. But the time investment is 100% worth it. By hiring talented sales people and allowing them to actually sell your company, without getting bogged down by monotonous tasks, you are ultimately generating more revenue for the company. Automation allows more integration between the marketing and sales teams and setting the correct timeline expectations upfront will prevent mishaps later on down the line. Drew and Eric have a great conversation about marketing automation and the connections it has to revenue generation on this episode, CMOs in every industry need to hear it.

What You’ll Learn

  • [0:29] Drew introduces his guest for this episode, Eric Eden
  • [3:05] How to lay the foundation for marketing to become a revenue generator
  • [6:00] Why the burden of proof for success lies with the marketer
  • [8:27] What exactly is evidence-based marketing, and how do you define your strategy?
  • [13:57] Eric walks through his process for securing a substantial marketing budget
  • [22:02] The essentials for your company’s tech stack and additional layers to consider
  • [28:22] What’s the next step after creating a solid CRM piece?
  • [33:39] Why isn’t it more common to combine the first two layers of your marketing stack?

Connect With Eric:

Resources & People Mentioned

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Why Marketers Need to Think About Cyber Security — Now!

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Although the Equifax hack put cybersecurity on the priority list for over 140 million Americans and scared the heck out of many others including yours truly, it is hardly a new issue for consumers. Major hacks at Yahoo and Target a few years back put many on high alert. So, you might ask, “What is new here and why should cybersecurity be a priority issue for senior marketers?”  Well, as it turns out, all that marketing technology senior marketers recently brought into their companies has created even more exposure for company data and the consumers with whom they do business. Sure enough, the pursuit of big data to optimize sales, marketing and customer experience efforts, has put companies at risk, in a remarkably big way. And of course, a data breach will inevitably become a brand breach as the folks at Equifax can attest. So batten down the hatches and have a listen as Norman Guadagno, Senior Vice President of Marketing at Carbonite, a data security company, shares his thoughts on why this is such a big problem and some of the steps that marketers can take to prevent or at least mitigate the impact of a security breach. (You can listen to this episode just by clicking on this link.)

Guadagno discussion with host Drew Neisser yields a number of recommendations for marketers:

  1. Assume you will be hacked and prepare a crisis plan;
  2. Befriend your CFO, CTO and Security experts within your company;
  3. Recognize that with each new marketing technology that you bring in, you will need to make sure that resources are allocated to secure that technology;
  4. Consider bringing in an outside security expert to identify and address your biggest points of vulnerability;
  5. Continue to make “deposits” in the “goodwill bank” with your customers by offering extraordinary customer service (this goodwill will help you weather a security storm);
  6. If you are hacked, be as transparent as possible about the problem and how you are going about addressing the problem.  That said, make sure that your efforts themselves are tough to hack!

Also, early in the show, Drew mentioned a few resources to check to see if the Equifax hack had an impact on you personally and if so, what to do about:

  • Equifax resource– To see if your data was compromised, Equifax set up this special site at which you enter your last name and the last digits of your SSN.  There are only two answers, Yes or No.

  • If Yes — You don’t necessarily have to enroll in the program Equifax offers BUT you do need take some action steps right away.  Here’s a link to Steve Faktor’s thorough post on what to do which we found to be particularly smart and useful.