How to make Marketing Platforms as Profit Centres

Source:  How to build Profit Centric Marketing 

• What businesses need is a framework for profit-centric marketing, with profit creators
• This can only come from existing customers using 5R – 
• combining retention, 
• repetition, 
• referrals, 
• reactivation (as opposed to reacquisition) 
• and replenishment (targeted new acquisition) 
•  This 5R focus needs the 4P framework: 
•  pipes, 
•  partitioning, 
•  properties, 
•  and prospecting

This transformation will need the third generation of martech platforms: the first generation was about point solutions and the second generation was about full-stack platforms. The third generation will be about platforms that are Web3 powered and enable the tokenisation that marketers need to make XR (and therefore profit-centric marketing) a reality.

Sales Trigger Spectrum with Cloud Adoption Curve - 2022

Evolution of Cloud Adoption Curve, its Type and Sales Trigger Spectrum

Weekend Reading

 Bridging the gap: How and why product management differs from company to company

Companies, like many in New York, that are introducing solutions to mature industries tend to be sales-driven, so product teams are informed by what customers will readily buy and are measured based on output and revenue. Companies, like many in the Bay Area, that are creating new categories are generally vision-driven, so product teams are more cross-functional and iterative, and are measured based on validated learnings and outcomes. The two models on each end of the spectrum manage risk differently and, with regard to startups, offer a varied range of results. Predicated on introducing solutions to previously unarticulated problems (e.g. Snapchat), Bay Area startups and product managers are tasked with launching moonshots. Failure is more frequent and expensive but success is exponential in size.

How Marketing can assist in Maximising Growth

Fortunately, there's a good rule of thumb called the "70-20-10 rule" that business leaders can use to address the current vs. future aspect of the resource allocation challenge. The 70-20-10 rule has been used for a variety of business purposes. For example, Google has reportedly used it to manage the innovation process, and Coca Cola has reportedly used a version of the rule to guide marketing investment decisions. The marketing version of the 70-20-10 rule says that about 70% of your marketing resources should be devoted to capabilities and programs with a proven track record of acceptable performance. These will include marketing channels, techniques, and technologies that your company is currently using successfully. The 70-20-10 rule does not mean that companies should simply "keep on doing what we're already doing." It means that marketers should evaluate how well their "bread and butter" programs are performing and continue to invest in those that are delivering acceptable results.

Why your customers want to buy is as important as what they want to buy

In complex, discretionary B2B buying environments it’s just as important - often more important - to understand why your prospective customer has embarked on their buying journey. In fact, I’d go as far as to say that no matter how perfect your salespeople’s understanding of their prospect’s needs is, and no matter how good a job your salespeople have done in influencing those needs in your favour, if you don’t understand why your customers are buying, you’re flying blind.

Replacing the Sales Funnel with the Sales Flywheel

One of my favorite business school professors used to say, “If you want to build a great company, your product has got to be ten times better than the competition.” Today, that advice feels out of date. If you want to build a great company in 2018, your customer experience has to be ten times lighter than the competition. It used to be what you sell that really matters, now it’s how you sell that really matters Unlike some changes in business philosophy, the flywheel is not an all-or-nothing proposition, Any tactical change to reduce friction, or organizational alignment of forces that optimize for customer delight, will have a measurable impact on customer experience. Early successes will breed increasing support for a full flywheel approach.

10 Commandments for Marketing and Product in a Software Startup Artificial Intelligence Strategy: 7

 Things to Consider Before Getting Onboard What B2B Sales Enablement “Visionaries” Are Doing

Inflation Impact on IT - Levers to Address

 Inflation Impact on IT - Levers to Address

With steep rises in IR, #buyers need to de-risk their #DigitalTransformation dollars for revenue generation & will ask #ITServices providers to share the risk. This is a certainty for buyers who are behind in their digital journey. #strategy #future #economy #Australia #IT 

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What is Driving Inflation Today

Why Thought Leadership Doesn't Work

 

Trouble with Thought Leadership

“B2B marketing leaders tend to get trapped inside a sales cycle in the way they execute,” says Bruce. “That’s not the kind of thinking that’s going to generate brand equity and certainly not thought leadership. [Thought leadership] is a long-term strategic investment and journey that you need to go on as a business.”

Thought Leadership Doesn't Work

When we asked B2B buyers what they think about the content they receive from vendors, over 60% of respondents to Forrester’s 2021 Content Preferences Survey gave these unflattering opinions. Buyers are drowning in a sea of sameness. They fail to find any value in the content they receive, because much of it is myopically focused on the vendor and its products and services — not on the cares and concerns of the recipient.

Why Commercial Insight instead of Thought Leradership

“Rarely will thought leadership alone cause customers to change their views or prompt immediate action,” says David Anderson, practice leader at Gartner. “Instead, sales leaders must arm reps with commercial insight to push beyond presenting a new idea to actually undermine an existing one.” Commercial insight is typically developed by combining information, such as facts, data, industry trends, experiences and observations with customer needs, like business growth, increasing profits and reducing attrition, to create a unique conclusion. Organizations that effectively deploy insights to deliver effective messages increase the likelihood of closing high-margin deals and improving long-term customer loyalty.”

NBN Spend - Hindsight Technology Choice

 Why Economies of Scope vs Economies of Scale for NBN 

The average cost per Mbps in OECD is 48c (USD) and in Australia, it is $1.06 and Avg speed is 51Mbps.

Just highlighting how economies of scope have impacted that.

(src: TPG results FY 22) 

Threats to NBN are multifold

Digital is not IT

Credit: visualise team

Digital IT and Cloud Impact on MSA and Sourcing

 Digital IT and Cloud Impact on Master Services Agreement (MSA) and Sourcing

Weekend Reading

 Blockspace is best the product of 2020

Blockspace is a space on the blockchain that can be used to store information and run code. Critically, it differs from traditional computing space because the hardware is subordinate to the software, the blockchain code. These systems, when sufficiently decentralized, are more trustable — as in they can make stronger commitments — than ones controlled by centralized parties.

Twitter and Musk - Wealth Creator

“Entrepreneurs create wealth; governments destroy wealth. Ultimately, it’s about division of labor and specialization. Entrepreneurs specialize in creating wealth; governments should specialize in the protection of life, liberty and property; we should devote a part of our time and money to the extent we can in helping others as part of our social responsibility. Entrepreneurs sow the seed corn, we reap most of the harvest. Denying them seed corn will surely mean starvation for us.”

How Leaders Can Focus and Prioritize their Work in a Complex world Sales Reward - Best Practices

Build your sales rewards around the notion of intrinsic motivators. This way you’re not only providing your reps a reward for good performance, you’re validating and encouraging a sense of self that pushes them to excel every day.

Accelerate your Professional Services Sales Revenue 

Set the Stage for Success - You and Your prospect

By preparing both yourself and your prospect, you will open the door for better communication, better use of both of your time, and most importantly, a better meeting outcome that leaves you with the answers you need to deliver a valuable proposal.

Why Closing Deals are becoming more Difficult

Relationship Spectrum to Drive Sales

What is Driving The Inflation Today

 

Inflation View of Major Economies  

Commodity Prices View

Australias Internet Ranking Slipped to 67

 

Thinking Hat #4

 

Credit: VisualizeValue Team

NBN Co Evolution - 2009 to 2022

 NBN Co Evolution - 2009 to 2022, driven by Political Philosophy 

Weekend Reading

 

• B2B Suppliers need to upgrade their Channels for Ease of Sales 
• Leadership Mantra
• The salesperson who drives you crazy
• How to be professional in Virtual meetings
• Aligning Sales and Marketing