Face to face meetings are dead, at least for the foreseeable future. Companies have invested in sales enablement platforms without seeing a measurable improvement in productivity. Email response rates are at a record low, and webinar performance is declining. Scott interviews Dr. Howard Dover, Director of Professional Sales and Sales Coach, University of Texas at Dallas on these challenges and how they are impacting how we sell now and in the future .
To hear Scott’s entire conversation with Dr. Howard Dover, Director, Center of Professional Sales, and professional sales coach to discuss the Future Of Selling”, listen or download here:
On Friday, November 13th at 10am EST Scott Gillum, Founder & Chief Executive Office of Carbon Design spoke with a panel of industry experts at The Drum Digital Summit. The panel fused real cases of success with personalization, helping the industry understand what is achievable today, while also taking a look at the risks and rewards of implementing personalization in digital advertising and online purchases.
The panel covered the importance of providing more meaningful engagement with potential customers along with best in class examples of:
· Personalization and relevancy in digital advertising today
· How direct-to-consumer companies personalize their product offerings
· Personalized Customer Experiences that DTC companies provide
The Drum Digital Summit was a five-day festival which kicked off on Monday 9 November and brought together key players from tech, brands and agencies. The APAC publisher and programme curator, Charlotte McEleny, picked out 10 must-watch sessions.
The core theme that ran through every session was ‘speed’, which is reflective of one of the words that is being uttered most regularly in conversations with the editorial team, in every country.
The event can he downloaded here.
Scott appears on Jason Swenk’s Smart Agency Master Class Podcast, the #1 Digital Marketing Agency Owner podcast for sharing the strategies and stories from real agency owners of what is working today in the agency world, and how they got to where they are now.
In this episode with Jason, Scott will cover:
- What is the “upside-down” approach to recruiting agency talent?
- Can an agency be successful with a team full of contractors?
- How you can keep your employees focused.
Estimated read time: 5 Minutes
This post ran original on The Drum on September 30th it can be viewed by clicking here
Thank you Covid, we just broke the record for poor performance. According to Hubspot, the response rate to emails fell to a record low of 2.1% in April. Said differently, 98% of our efforts to reach new prospects failed.
With conversion down what did we do? You guessed it, we increased the number of emails sent during the same period by 50%, according to Hubspot’s survey of 70,000 customers. We are playing a zero sum game, and it’s literally a race to the bottom.
Why is this acceptable? Yes, the pandemic has had a dramatic impact, but even in good times, a 4% click through rate is the benchmark. Why haven’t we been able to improve?
Because the only real lever we really had was to increase volume as conversion rates declined. Now with the advent of new tools, we’re uncovering issues and learning new insights into how to improve performance. Here are 3 things we have discovered so far.
Issue #1 – The Wrong Objectives
Marketing has, because of the pressure from the rest of the organization (from mostly sales and the product organization) lost sight of its objectives. Marketing’s goal is to increase the awareness and interest in a company’s brand, product and/or services and get that prospect to take action. It’s to start the cycle, get a conversation going and drive interest.
A good marketing prospect is an information seeker. Employees who are on the constant lookout for information that benefits them personally, in their role, or for the greater good of the company. A great marketing prospect is someone who will bring our information into the organization, get the buying process started and advocate for your brand.
The point, what we are defining is a personality type, not a title. In the past that has been very difficult to identify. As a result, we have had to rely on mining the existing customer database or using a persona that was defined by the product or sale organization which has left us with senior level buyers.
The problem with that is many of these targets, who are decision makers or budget holders, are not present at the beginning of the buyer’s journey. And as we now know, they are also not interested in what we’re offering.
Issue #2 – The Wrong Targets
With the advent of personality profiling tools like Crystal Knows, IBM Watson, or xiQ, it is now possible to determine which personality types are most likely to meet the needs of marketing.
AI enabled profiling tools identify 4 personality types as defined by DISC (Dominant, Influencing, Steady and Conscientious). Of the four personalities, only 2 types of audiences are good for marketing purposes because of their behaviors and motivations.
Based on our recent client work across the healthcare, tech and professional services industries, we also know that at least 30% of a company’s customers will profile into one of the two categories that are either not active information seekers or are not active in the buying group.
They will not convert, but given our current practices, they still end up on the target list driving down response and conversion rates.
Issue #3 – The Wrong Type of Content or Marketing Assets or Both
The two key audience segments that are present at the beginning of the buying process and actively seek information have different motivations for why, and how they intend to use information.
When targeting titles, companies create one type of content based on that buyer’s role. With personality profiling we know that audiences have different preferences for content and how it’s packaged.
The first personality type prefers “big picture” highly visual content told in story form. These “motivators” are drawn to infographics, animated and testimonial videos, which allow them to grasp concepts very quickly.
Their personality type is “altruistic” and they use information to share with others for the good of the organization. Their motivations are deeply personal in that they like to be seen or perceived as a “thought leader” that others seek out for insight.
Contrast that with the other active information seeker. The “demonstrator” profile seeks information relevant to them in their role. They want “proven” information, use cases, case studies, and business case material (ROI’s). Content that is rich in information on how to implement and business impact.
Combined, these two groups will make up 70% of your responders to marketing activities depending on what it is, and you need to know how that mixes to build and align content. And here’s a hint, you only need two types of personas for marketing…the two I just described.
We are dealing with a future that is more uncertain than anything we have experienced in the past. Add to that an election, polarization and social justice movements we have one of the most emotionally charged atmospheres in modern history. ABM and personas do not delve deep enough into defining buyers interest, motivations and preferences.
To improve marketing performance you have to ramp up personality based marketing and that will require work. Not everyone will be willing to put in the effort, but the ones that are will break the chain of putting more in and getting less out.
Pixel506 is a tech company based out of New York and Costa Rica. Antonio Ramirez, CEO of Pixel506, sat down with Scott to discuss remote work and working in Costa Rica during COVID19. Antonio Ramirez gives tips on creating award-winning websites and how to set up your digital efforts for success.
To hear Scott’s entire conversation with Antonio Ramirez, CEO and Founder of Pixel506 about “Remote Work And Working In Costa Rica”, listen or download here: