The Sales and Marketing Promance (technology not included)

Many businesses lack strong alignment between their sales and marketing organizations. Whether you agree or disagree, it’s important to understand the barriers that prevent alignment. Six common barriers include:

  1. Success in the sales and marketing departments is being measured differently.
  2. Sales and marketing have a different vision of the ideal target customer.
  3. Actionable customer insight sits in disconnected databases.
  4. There is a lack of view of customers and their buying preferences.
  5. Broken processes make it impossible to track what is working.
  6. The technology is too hard to use so that there is limited adoption.

 

These barriers lead to the disconnect and are making it difficult for organizations to make the most of their sales opportunities and go to market investments. As an example, companies are unable to provide the right offers to the right people, at the right time, because customer insights live in disparate locations and the company’s go-to-market strategies are uncoordinated and inefficient.

To address this disconnect, businesses are turning to applications and new technology to help build cohesive sales and marketing alliances. The common mistake businesses have been making in their rush to technology is that they forget to address their people and process challenges first.

The promises of the digital revolution and emerging technologies are often not in line with management’s expectations. Many mid to large sized companies have rushed to replace older systems that worked, to new and unproven cloud based technologies that are not living up to expectations. Many of these decisions were based on unrealistic, pie-in the sky, cloud in the sky promises (no pun intended) and the pain is just beginning to be felt by customers.

The reality is that many companies launched into cloud based technologies without a good business plan. So perhaps 2015 will be the year many companies awaken to a reality check.

The pendulum is about to swing in another direction. Brace yourselves.

Good times ahead.

Cheers,

rvargas@solomonconsult.com

The Sales and Marketing Promance | Technology not included

Many businesses lack the alignment between the sales and marketing organizations. Whether you agree or disagree, it’s important to understand the barriers that prevent alignment. Some common barriers include:

  • Success in the sales and marketing departments is measured differently
  • Sales and marketing have a different vision of the ideal target customer
  • Actionable customer insight sits in disconnected databases
  • There is a lack of a 360-degree view of customers and their buying preferences
  • Broken processes make it impossible to track what is working
  • The technology is too hard to use so that there is limited adoption

 

These barriers lead to the disconnect and are making it difficult for organizations to make the most of their sales opportunities and go to market investments. As an example, companies are unable to provide the right offers to the right people, at the right time, because customer insights live in disparate locations and the company’s go-to-market strategies are uncoordinated and inefficient.

To address this disconnect, businesses are turning to applications and new technology to help build cohesive sales and marketing alliances. The common mistake businesses have been making in their rush to technology is that they forget to address their people and process challenges first. 

The promises of the Digital Revolution and emerging technologies are often not in line with management’s expectations. Many mid to large sized companies rushed to replace older systems that worked, to new and unproven cloud based technologies that are not living up to expectations. Many of these decisions were based on unrealistic, pie-in the sky, cloud-high promises (no pun intended) and the pain is just beginning to be felt by customers.

The reality is that many companies launched into cloud based technologies without a good business plan. So perhaps 2015 will be the year many companies awaken to a reality check.

The pendulum is about to swing in another direction. Brace yourselves.

Good times ahead.

Direct Marketing | Benjamin Franklin and Lester Wunderman

Heavy Weights of Innovation and Direct Marketing

Direct marketing has been reinventing itself for over 250 years and dates back to when Benjamin Franklin invented the institution of mail order retailing in 1744.

Benjamin Franklin’s contributions to direct marketing is best summarized in a letter to the DM News from 2005 entitled “Don’t Discount Ben Franklin’s Contributions to Direct Marketing”

Trivia: Ben was also our first Postmaster General which is why his pic is on the wall of most post offices.

Direct marketing dates back to before the founding of our country and has been with us throughout our country’s history:

Stamp Act of 1765

Twenty years after Ben launched his mail order retail business, the British imposed the Stamp Act of 1765 on British Americans. The act was a direct tax that forced colonists to print on stamped paper produced in London. The Stamp Act led to the ultimate issue that would eventually hold enter stage up to 1776 was the matter of taxation without representation. Benjamin Franklin had raised this as far back as 1754 at the Albany Congress when he wrote, “That it is suppos’d an undoubted Right of Englishmen not to be taxed but by their own Consent given thro’ their Representatives. That the Colonies have no Representatives in Parliament.” The counter to this argument was the theory of [virtual representation.]- FUNNY:  NO, the British did not invent virtual communications. 

Business Information Reporting and Credit

Dun & Bradstreet traces its history back to 1841, with the formation of The Mercantile Agency in New York City by Lewis Tappan, later called R.G. Dun and Company.  The company was formed to create a network of correspondents (reporters) who would provide reliable, objective credit information. In 1933, Dun merged with competitor John M. Bradstreet to form today’s Dun & Bradstreet. The Data Universal Numbering System (DUNS) was invented in 1962.

D&B spun off the following well known brands –

  • ACNielsen (1996)
  • Cognizant Technology Solutions (1996)
  • Moody’s (1999)
  • AllBusiness.com (2012)

Dun & Bradstreet also owns the business research corporation Hoover’s.

Dun & Bradstreet acquired data management firm NetProspex on 1/8/2015

American Presidents 

Abraham Lincoln, Ulysses S. Grant, Grover Cleveland & William Mc

Abraham Lincoln, Ulysses S. Grant, Grover Cleveland & William McKinley were all correspondents (reporters) for D&B

 

 

Man’s Confidence in Man: a motion picture that recreates stories to show how credit is a part of everyday lives, from small scale purchases to business loans.

 

lester wunderman youngLester Wunderman, who most consider to be the inventor of direct marketing, in a historic speech at MIT in 1967, outlined his ideas and gave birth to a new industry. He tells the fascinating story of preparing and delivering the presentation in his book Being Direct. He made the case for a new direct marketing that is comprised of several broad-based characteristics (source: marketingawesomeness.wordpress.com by John Gregory Olson):

  • It is a strategy, not a tactic
  • It is where advertising and buying become a single affair
  • It eliminates intermediaries in distribution and communication channels
  • It creates dialogs between buyer and seller
  • It builds dialogs into enduring relationships
  • It is personal, relevant, interactive and measurable
  • In the decades that followed, he oversaw the advent of the direct marketing industry and put these principles into practice.

Wunderman’s vision is still aspirational for digital marketers. We have powerful new media to reach customers and prospects, but continue to work through the challenges to deliver on their expectations. His “Bill of Rights” points to many of those challenges:

  • Being transparent and authentic, and letting go of controlling the message
  • Capturing data that enables more relevant, valuable exchanges without invading privacy
  • Understanding the acceptable frequency of communications
  • Telling relevant brand stories that inform, not self-promote
  • Having conversations with consumers that establish respect and likeability
  • Building relationships through meaningful engagement, not wasted activities
  • Making it easy for consumers to interact and buy
  • Keeping communications succinct

Digital, web, mobile and social marketing are new when you think about the entire two hundred and fifty year history of direct. So this chapter is far from complete and the future keeps getting brighter for every marketer that’s involved in some area of direct marketing (CX, Big Data, whatever)

A fireside chat with Lester Wunderman and Google

I hope this post evokes feelings of nostalgia and heightens everyone’s confidence in our economy and future.

S2D

Direct Marketing | Benjamin Franklin and Lester Wunderman

Heavy Weights of Innovation and Direct Marketing

Direct marketing has been reinventing itself for over 250 years and dates back to when Benjamin Franklin invented the institution of mail order retailing in 1744.

Benjamin Franklin’s contributions to direct marketing is best summarized in a letter to the DM News from 2005 entitled “Don’t Discount Ben Franklin’s Contributions to Direct Marketing”

Trivia: Ben was also our first Postmaster General which is why his pic is on the wall of most post offices.

Direct marketing dates back to before the founding of our country and has been with us throughout our country’s history:

Stamp Act of 1765

Twenty years after Ben launched his mail order retail business, the British imposed the Stamp Act of 1765 on British Americans. The act was a direct tax that forced colonists to print on stamped paper produced in London. The Stamp Act led to the ultimate issue that would eventually hold enter stage up to 1776 was the matter of taxation without representation. Benjamin Franklin had raised this as far back as 1754 at the Albany Congress when he wrote, “That it is suppos’d an undoubted Right of Englishmen not to be taxed but by their own Consent given thro’ their Representatives. That the Colonies have no Representatives in Parliament.” The counter to this argument was the theory of [virtual representation.]- FUNNY:  NO, the British did not invent virtual communications. 

Business Information Reporting and Credit

Dun & Bradstreet traces its history back to 1841, with the formation of The Mercantile Agency in New York City by Lewis Tappan, later called R.G. Dun and Company.  The company was formed to create a network of correspondents (reporters) who would provide reliable, objective credit information. In 1933, Dun merged with competitor John M. Bradstreet to form today’s Dun & Bradstreet. The Data Universal Numbering System (DUNS) was invented in 1962.

D&B spun off the following well known brands –

  • ACNielsen (1996)
  • Cognizant Technology Solutions (1996)
  • Moody’s (1999)
  • AllBusiness.com (2012)

Dun & Bradstreet also owns the business research corporation Hoover’s.

Dun & Bradstreet acquired data management firm NetProspex on 1/8/2015

American Presidents 

Abraham Lincoln, Ulysses S. Grant, Grover Cleveland & William Mc

Abraham Lincoln, Ulysses S. Grant, Grover Cleveland & William McKinley were all correspondents (reporters) for D&B

 

 

Man’s Confidence in Man: a motion picture that recreates stories to show how credit is a part of everyday lives, from small scale purchases to business loans.

 

lester wunderman youngLester Wunderman, who most consider to be the inventor of direct marketing, in a historic speech at MIT in 1967, outlined his ideas and gave birth to a new industry. He tells the fascinating story of preparing and delivering the presentation in his book Being Direct. He made the case for a new direct marketing that is comprised of several broad-based characteristics (source: marketingawesomeness.wordpress.com by John Gregory Olson):

  • It is a strategy, not a tactic
  • It is where advertising and buying become a single affair
  • It eliminates intermediaries in distribution and communication channels
  • It creates dialogs between buyer and seller
  • It builds dialogs into enduring relationships
  • It is personal, relevant, interactive and measurable
  • In the decades that followed, he oversaw the advent of the direct marketing industry and put these principles into practice.

Wunderman’s vision is still aspirational for digital marketers. We have powerful new media to reach customers and prospects, but continue to work through the challenges to deliver on their expectations. His “Bill of Rights” points to many of those challenges:

  • Being transparent and authentic, and letting go of controlling the message
  • Capturing data that enables more relevant, valuable exchanges without invading privacy
  • Understanding the acceptable frequency of communications
  • Telling relevant brand stories that inform, not self-promote
  • Having conversations with consumers that establish respect and likeability
  • Building relationships through meaningful engagement, not wasted activities
  • Making it easy for consumers to interact and buy
  • Keeping communications succinct

Digital, web, mobile and social marketing are new when you think about the entire two hundred and fifty year history of direct. So this chapter is far from complete and the future keeps getting brighter for every marketer that’s involved in some area of direct marketing (CX, Big Data, whatever)

A fireside chat with Lester Wunderman and Google

I hope this post evokes feelings of nostalgia and heightens everyone’s confidence in our economy and future.

S2D

The Sales and Marketing Promance | Technology not included

Many businesses lack the alignment between the sales and marketing organizations. Whether you agree or disagree, it’s important to understand the barriers that prevent alignment. Some common barriers include:

  • Success in the sales and marketing departments is measured differently
  • Sales and marketing have a different vision of the ideal target customer
  • Actionable customer insight sits in disconnected databases
  • There is a lack of a 360-degree view of customers and their buying preferences
  • Broken processes make it impossible to track what is working
  • The technology is too hard to use so that there is limited adoption

These barriers lead to the disconnect and are making it difficult for organizations to make the most of their sales opportunities and go to market investments. As an example, companies are unable to provide the right offers to the right people, at the right time, because customer insights live in disparate locations and the company’s go-to-market strategies are uncoordinated and inefficient.

To address this disconnect, businesses are turning to applications and new technology to help build cohesive sales and marketing alliances. The common mistake businesses have been making in their rush to technology is that they forget to address their people and process challenges first. 

The promises of the Digital Revolution and emerging technologies are often not in line with management’s expectations. Many mid to large sized companies rushed to replace older systems that worked, to new and unproven cloud based technologies that are not living up to expectations. Many of these decisions were based on unrealistic, pie-in the sky, cloud-high promises (no pun intended) and the pain is just beginning to be felt by customers.

The reality is that many companies launched into cloud based technologies without a good business plan. So perhaps 2015 will be the year many companies awaken to a reality check.

The pendulum is about to swing in another direction. Brace yourselves.

Good times ahead.