Is your marketing limited based on principles of the past? Is it shackled by reducing your day in and day out efforts to ROI alone? It’s time to realize what’s in the past and what marketers need to realize and implement for the present and future.
Author, Marketing Leader, Podcast Host of the Electronic Propaganda Society, and the Principal of Marketing Insights at Salesforce, Mathew Sweezey, urges marketers to recognize what’s going on in the present versus the past and the importance of looking at the whole picture of the value that marketing brings.
- The length of a buyer’s consideration process when weighing risk and making a purchasing decision, depends on the level of the risk that is involved.
- Be careful to adopt the ways in which other companies are doing their marketing. We often assume that other people have done their prep work to make sure what they are doing is effective, but you could be blindly following the blind.
- “We should not think about ourselves as manipulators, we should think about ourselves as community builders, as helpers, enablers.”-Mathew Sweezey
- Create what you love, if you like what you are creating then you’ll be consistent which is important.
- When creating content, keep in mind, the execution of the idea is what matters, not the format.
- There is power in community. If there is an area or areas where you lack knowledge, surround yourself with experts in those particular areas. Create a relationship of sharing expertise.
- “ROI is not an effective measure, it’s an efficiency measure.”-Mathew Sweezey
- ROI does not prove the value of marketing, consider using a weighted pipeline in addition to show value.
- Weighted Pipeline - How much is in our pipeline that is actually ready to close? When is it going to close? At what degree of predictability is it going to close?
- Weighted Pipeline measures the volume inside of each stage of the buyer’s journey, the velocity of people moving from stage to stage, and the efficiency that people move to the next stage.
- A weighted pipeline shows the value of marketing because it shows the total amount of demand, when that demand is going to convert into actual revenue, and the efficiency and speed in which it’s going to convert.
- Career advice: Don’t sweat the small stuff, be intellectually curious, and find a way to maximize the thing you love most in life.
- Twitter: https://twitter.com/msweezey
- LinkedIn: https://www.linkedin.com/in/mathewsweezey/
- Electronic Propaganda Society Podcast: https://electronicpropagandasociety.com/
- Link to Pre-order “The Context Marketing Revolution”: https://www.amazon.com/Context-Marketing-Revolution-Motivate-Infinite/dp/163369402X
- Salesforce website: https://www.salesforce.com/
- You will get conversions if you hit the right person, at the right time.-This is not the case. This notion came from a time when marketing could not hit the right person at the right time, now, that is no longer the case. The average conversion rate of a Google Ad that is placed for the right person at the right time is 2.35%. This means that 98% of the time, they are not working.
- B2B and B2C buyers are different.-B2B and B2C buyers are the same in that they both are having to consider and mitigate the risk of their purchase. B2C buyers are researching now more than ever before they purchase and are considering the weight of their purchase. B2B buyers mitigate risk that can affect their whole company. They both are doing risk mitigation in their buyer’s journey.
- ROI is the best way to measure the impact of marketing. - The value of marketing cannot be boiled down to just ROI. How do you attach a dollar amount to brand awareness and word of mouth? The best way to measure the value of marketing in addition to ROI is a weighted pipeline.
- 11:47-Marshall McLean
- 28:25-Tom Webster, Edison Research
- 47:28-Aaron Ross “Predictable Revenue"