The Power of Great Story-Telling

My current passion is story-telling, and it would have served me well in a recent experience.

I was hired to head sales and marketing for a UK based Search Marketing firm. I had to lead the staff in the UK as well as build a US operation where none existed.

It seemed clear what needed to be done. Crank up marketing and lead generation. Seed a few accounts to get a user base. But none of that happened. Laptop, phone — and they expected results.

The writing on the wall was clear. Change the path or face failure.

I did it wrong. The right way would be to tell them the story of a company that tried to expand to the US, ran into problems, adapted and succeeded. This was so they could learn what needed to be done on their own. But instead, I simply told them what they needed to do. It was not well received. I was let go.

Learning to tell stories is a powerful approach is business and in life. Check out books by Annette Simmons like The Story Factor and Doug Litman for more.

Jeff Ogden is President of Find New CustomersLead Generation Made Simple” He’s also the author of two highly acclaimed white papers, How to Find New Customers and Definitive Guide to Making Quota, as well the ebook, Prospect Driven Marketing. Find New Customers helps business develop and implement programs to improve the way they find and acquire new customers using best practices in lead generation.

In addition, Jeff’s hosting a great free webinar on content marketing with Joe Pulizzi (Junta42 and co-author of Get Content, Get Customers on March 11th at noon ET.  Register at https://www1.gotomeeting.com/register/536492297.

How politics killed a great job – part two

In the last episode on Friday, we shared early success, how we made it up as we went along and the big win and success at GE Capital Corporate.  Here’s the rest of the story.

Deals kept going.  GE Supply, GE Card Services, and so forth.  But I had a few problems.  The product was buggy, support was weak and my compensation plan was still a Regional Sales Manager.  So everything sold outside my turf went to other reps mainly, though I did get a piece.  The crux of the problem was there was no large account sales programs.

Then one day a fateful thing happened.  The company hired a VP of National Accounts, Craig T.  So I went to Craig and asked him if I could work for him and get a new national compensation plan.  He said “Of course, Jeff.  Welcome on board.” and he shook my hand.

Upon returning to my office, my phone rang.  It was our Chief Marketing Officer, Dave K.  Dave said “Jeff, what the Hell did you do to Jon T. ” (Top Sales exec)”  Confused and caught off guard, I said “Dave, what do you mean?  I never even spoke with him.”

Then it hit me. Craig was Jon’s rival. Going to Craig meant I was disloyal in Jon’s eyes.

From that point forward, things started going sour.  First, the company shipped a very buggy software release, so GE stopped purchases.  My pipeline dried up and for the first time, I missed a monthly quota. (I had been over 250% of quota.)

Then the company announced its Club trip for that year — Cancun.  I was told I won the trip.  My wife was thrilled.

A few days before the trip to Cancun, the VP of the East Region, Marc S., called me in.  He said “Jeff, I hate to tell you this, but we’re letting you go.  Ironically the only reason this did not happen sooner, is at 250% of quota, you were untouchable.”  Then it dawned on me.  A buggy release.  No purchases.  Missing quota.  All made me vulnerable to a vindictive sales exec.

On one hand, I was very upset.  On the other, I was glad to leave, as the company was, as I say, in the “purchase order extraction business.”  The VP, Sales, Jon T. was a political hack, stabbing people in the back.  The CMO left and told me “It was crazy when you were here and even crazier after you left.”

They then totaled up the results. Global revenue from GE skyrocketed from $2.1 million to $6.8 million in just 12 months. We had been wildly successful.

To replace me, the company reached out to their #1 competitor for the salesrep who handled GE.  He lasted six months before they dismissed him.

A couple of things were fascinating.  One, I was a new salesrep who never handled GE and I put up big numbers.  (And we could have done a lot more.)  The so-called experienced specialists all failed.  Companies make this mistake every day — choosing the obvious choice rather than the best choice.

Epilogue: Every manager from those days is gone.  100%.  Amazing.

Hope you enjoyed the story.  I’ve never told it completely before.

What did you think of this story?  I’d love to hear your thoughts.

How politics killed a great job – part one

(Stay tuned for Part Two on Monday.)

This time I’d like to relate a story that took place back in the early 90’s at a large French business intelligence software firm that’s now part of IBM — and how success got me fired.

My current passion is story-telling, so sit back and I’ll tell you a story.

I won a sales job with this firm and was given a list of 25 accounts or so. Working very hard, I got a bunch of prospects and won them all.  At the next sales kickoff meeting, I was shocked when they announced my name as Top Rookie.

One of the names on my list was a GE division.  I noticed that we were not doing a very good job on GE.  Very tactical and vendor centric approach by this lady named Judy C.  I decided to take a chance and ask if I could handle GE.  They didn’t exactly say yes, but they didn’t say no either.  If I was to get this opportunity, I’d have to use a lot of political license.

My idea was to use a very customer-centric approach.  GE would be my employer, not the software company I worked for.  Also, I needed reps all over the world empowered to sell GE. Though I had all of these ideas, my compensation plan still said “Regional Sales Manager.”  But I got business cards that said “Global Account Manager for GE.”  But there was no global accounts program, so I was making it up as I went along.

(In fact, the VP of the East and the VP of the US met with Mark M., head of purchasing and a notorious bad-ass.  When these men shared their business cards, Mark threw both back at them, stammering “GE is a GLOBAL company.  You can’t help us!”)

Another of my brainstorms was that in order for others to sell GE, I had to make it easier to sell than any of their other accounts.  So Rory in Australia and Barbara in Italy needed help selling GE in order to focus on them.

The first thing I did was go to Amazon.com and buy books on GE.  I read and read till I really understood the company.  Then I started looking at our products through the eyes of GE.

Case in point, we sold business intelligence while GE was buying Digital Cockpits.  This had to change.

My big break came when GE Capital decided to buy a digital cockpit.  They gave us a mock-up of what the cockpit should look like.  My presales person, John C. found a programmer down in Atlanta who in a matter of days, mocked up their vision.

Everyone wanted this deal.  Oracle. SAS, SPSS, Cognos, etc.  But I had the mock-up and, more importantly, the deep knowledge of GE.  We won.

I didn’t stop there.  I called the GE product leader, Egidio L., and shared my belief that it was up to him and me to make this work.  A lot of programming was needed and they took six of our programmers and six GE programmers from India.  So Egidio and I set a weekly conference call every Thursday at 2:00pm.  We got right to the chase and fixed problems immediately.

I was blessed to have a superb project leader, Chirag Shah (he now works for Microstrategy.) Chirag was sharp and dependable.

The project was a huge success — GE had planned to roll it out to 14 — instead they deployed it globally to 144.  Even more interesting, my fame across GE grew substantially.

Next big project was a Six Sigma Quality Management System at GE Appliance in Louisville, KY – coordinated by GE Fanuc.  We had no such product in our price book.  But we had a new analytics product that seemed to do a lot of what they want.

I contacted the product development team and they agreed.  But how could we make the product fit their needs?  I finally decided I’d need GE to sell the idea and contacted GE Fanuc.  I explained that I needed their help.  We flew to San Jose and met the product team. GE presented to us.  The deal was done and in a few months, the client was delighted.  My fame grew even more.

(On Monday, how a great job turned sour due to politics)

Content Marketing webinar featuring @jun

Content Marketing webinar featuring @juntajoe Mar 11 noon ET by Find New Customers. Sign up at http://ow.ly/1dsaa

Content Marketing – event you won’t want to miss

In the recent Online Marketing Summit in San Diego, Joe Pulizzi (Junta42 and co-author of Get Content, Get Customers) was presenting to a group of about 300 people.  Joe asked the audience to raise their hands if they were doing content marketing today.  Out of the 300, only 4 hands went up.

I estimated it was about 1.5%.  This is a particularly shocking statistics, because OMS attendees tend to be savvy marketers.  But even savvy marketer aren’t getting content marketing.

Joe Pulizzi

When I posted a Tweet about this, I got an answer from Joe (He’s @juntajoe on Twitter, in case you wish to follow him.  I’m @fearlesscomp if you wish to follow me)

It’s more like 2% have “documented” content strategies. Most are doing content marketing, it’s just all over the place.”

Why should you care about content marketing and what Joe has to say?  Are you responsible for fiscal results?  Do you care about revenue?  If so, this matters.

A recent study by Genius and DemandGen Report found that over 9 out 10 B2B buyers consume content (white papers, eBooks, case studies, etc.) during their buying process.  Buyers found the best content was personalized to them — their title, their industry, their buying stage, their concerns, etc.

The ramifications for you are simple and profound.  If you don’t have great content, you are in danger of losing out 90% of your prospective business. In touch economic times, who can afford that?

How do I go about developing a content strategy?”  I feel certain that’s the question you’re asking right now.

The first thing I suggest is that you learn about content marketing.  A great free event is happening at noon ET on March 11, 2010.  Joe Pulizzi is doing a webinar with Find New Customers to share ideas, teach and answer questions.  You want to sign up — even if you cannot attend live, because you’ll be able to watch on demand.

In order to sign up for the webinar, click on Content Marketing with Joe Pulizzi.

What are you doing in content marketing?  What do you think?  This blog is about you and your concerns, so we always welcome comments and respond to every one.

Jeff Ogden is President of Find New CustomersLead Generation Made Simple” He’s also the author of two highly acclaimed white papers, How to Find New Customers and Definitive Guide to Making Quota, as well the ebook, Prospect Driven Marketing. Find New Customers helps business develop and implement programs to improve the way they find and acquire new customers using best practices in lead generation.

In addition, Jeff’s hosting a great free webinar on content marketing with Joe Pullizi (Junta42 and co-author of Get Content, Get Customers on March 11th at noon ET.  Register athttps://www1.gotomeeting.com/register/536492297.

Content Marketing webinar featuring @jun

Content Marketing webinar featuring @juntajoe Mar 11 noon ET by Find New Customers. Sign up at http://ow.ly/1dsaa

Do you have the guts to become the next red-hot company?

I have a dream.

I want to transform a technology company, particularly a software company, into a superb marketing-savvy company like HubSpot.

Actually, I wanted to do this at a Boca Raton, FL software firm where I led marketing, but they lacked the vision.  You cannot teach an old dog new tricks.

Brian Halligan, CEO

Don’t know HubSpot?  Founded three years ago by Brian Halligan and Dharmesh Shah, they build a software company around inbound marketing.   3 year results include:

  • Over 2,300 customers
  • $33 million in capital raised
  • Solidly profitable with strong cash flow

Not bad for a start-up with no base.

I can hear it already.  ”We’d love to be like HubSpot and put up numbers like that.”  Sorry, but it’s not that simple. You cannot get there without paying the price.

In order to become like HubSpot, you’ve got to embrace a new and radically different approach to marketing. Dump the telemarketing and product specs. Product marketing is dead. Tradition PR is over. Instead, we need to be fun, irreverent, innovative.

Here are three examples of the HubSpot approach:

  1. Chairman David Meerman Scott, comments on a blog article by Mike Volpe, VP Marketing, about the TV show, Mad Men. David suggests HubSpot reverse-engineer the show in a humorous video spoof. Read their blog post: 3 Lessons in Content Creation from Mad Men. (Does your Chairman suggest TV spoof ideas?)
  2. Their remake of the song “You Outta Know,” featuring Rebecca Corlis.  (HubSpot hired a music major.  Got any music majors on your staff, Mister Software CEO?) You can watch You Outta Know (Inbound Marketing) here. 
  3. Or their weekly online TV show — a bit campy, but very entertaining and lots of big name guests.

If you want to become the next HubSpot, you’ve got to dramatically change traditional thinking in the software business. You’ve got to embrace an entirely new approach — a highly viral and innovative approach — and neatly summarized in the new book, Inbound Marketing.  To make this kind of radical change, you’ll need the support of the Board of Directors.

Do you hear me Don McKinney?

It CAN be done.  But it’s the rare leader indeed who can embrace RADICAL change like this.  Are you the one with the guts to do it?

Jeff Ogden is President of Find New CustomersLead Generation Made Simple” He’s also the author of two highly acclaimed white papers, How to Find New Customers and Definitive Guide to Making Quota, as well the ebook, Prospect Driven Marketing. Find New Customers helps business develop and implement programs to improve the way they find and acquire new customers using best practices in lead generation.

In addition, Jeff’s hosting a great free webinar on content marketing with Joe Pulizzi (Junta42 and co-author of Get Content, Get Customers on March 11th at noon ET.  Register at https://www1.gotomeeting.com/register/536492297.

Download the free Marketing Wisdom repor

Download the free Marketing Wisdom report. Find New Customers is featured. http://ow.ly/1do4H #marketing

Choosing where to spend scarce marketing $’s

I really feel for business leaders today. If you care about revenue, you’re looking for answers. It’s got to be frustrating for you.

It seems everyone you talk to has the best answer to the dearth of leads. They say “Spend your marketing dollars on our ______, and your lead generation problems will be over.” All these say they’re the best:

  • Industry trade shows
  • Industry publications
  • Search marketing firm
  • Google AdWords
  • Print ads
  • Billboards
  • Newspaper ads
  • Telemarketing firms
  • and many more

Let me relate a story of how a company can go off track.  I was working with a certain search marketing firm in a mid Atlantic state.

The CEO of this business decided to become a primary sponsor of the industry trade show in New York City — Search Engine Strategies. It sounded good. The girl selling the service was young, brunette, slim and attractive.  She had great data to show. It would cost about $18,000 and their company name and logo would be all over — in conferences, at lunch, etc.

The CEO turned to me  and said “Jeff, I really pray this works.  It’s a huge expense.” I bit my tongue. I thought it would probably be a waste of money, but he was determined.

You know the ending to the story. The trade show was sparsely attended, no decision makers went, they did not get one good lead from it, and their marketing budget was shot for the year. This is typical.

That SEO firm did what most companies do today — lurch from one tactic to another. They spend $50,000 on one program — it doesn’t work, then they try something else. Since nothing seems to work, the ax keeps falling on marketing leaders. The average tenure of a CMO is only two years.

It’s clear something is badly broken.

Which of these really work? In my humble opinion, you’re asking the wrong question. In reality, you should do NONE of the above. You ought to back up to the beginning and start over.

This is why the vision of Find New Customers is to help you fix this critical problem. By being YOUR short term CMO, we help you craft a process that works and saves considerable time and money.

  • Time — because we know what do to do and
  • Money — because you no longer waste it on projects that don’t work.

How do you start over? Craft a new value proposition.  Determine your ideal customer.   Develop personas.  Map content to personas and buying processes.  Create great content.

What do you think?  How do you think business leaders should address this challenge?  We welcome all comments.

Jeff Ogden is President of Find New CustomersLead Generation Made Simple” He’s also the author of two highly acclaimed white papers, How to Find New Customers and Definitive Guide to Making Quota, as well the ebook, Prospect Driven Marketing. Find New Customers helps business develop and implement programs to improve the way they find and acquire new customers using best practices in lead generation.

In addition, Jeff’s hosting a great free webinar on content marketing with Joe Pullizi (Junta42 and co-author of Get Content, Get Customers on March 11th at noon ET.  Register athttps://www1.gotomeeting.com/register/536492297.

Inside the Mind of the B2B Buyer – New Paths to Purchase

Great insights presented last week by Genius and DemandGen Report, in the webinar Inside the Mind of B2B Buyers: New Paths to Purchase.

There’s been lots of discussion about how the B2B buying cycle has changed, but this presentation used actual data — they surveyed B2B buyers. I’m a bit of a data junkie.  Love hard facts.  Hope you do too.

Should this matter to YOU?

Only if you care about revenue results, such as a CEO, Board Member, Head of Sales, or Head of Marketing.

Let’s share a few takeaways — which I show as false assumptions, but first I’d like to share a bottom-line observation:

This is not your Dad’s world of sales.

The way he sold back in the 70’s and 80’s or even 90’s for companies like IBM, SAP and Unisys is over.  Done.  Kaput.

Just like the comet took out the dinosaurs, a comet (named “the Internet”) forever re-engineered the way people buy.  Unless you want your business to go the way of the dinosaurs, take note.

The problem is that so many things we did in the past — that worked well — no longer work.  Let’s look at these:

  1. Assumption: Get to the decision-maker to win the sale.
    Reality: Lots of people are involved in the decision today.  For details on this, check out this great blog post on “Looking beyond the decision maker” by Ardath Albee of MarketingInteractions.
  2. Assumption: If we contact enough people, we’ll find plenty of sales opportunities.
    Reality: 9 out of 10 of buyers say, when they are ready to buy, they find you.  Cold calling never worked well, but today it’s on life support.  If you’re still cold-calling, you’re competing for table scraps.
  3. Assumption: If we optimize our website for search, we’ll attract prospective buyers.
    Reality: 7 out of 10 buyers say they start their buying process at vendor sites, not Google.  This means the relationships you build and trust you develop is critical. (Lead Nurturing).  You need SEO and PPC, but it’s not all you need.
  4. Assumption: A nice website and case stories will get people’s attention.
    Reality: Over 9 out of 10 buyers consumed content on their way to purchase — especially white papers, eBooks, webinars, podcasts, and more and more, video clips.  What kind of content worked best?  Content personalized to them — their industry, their title, their stage of the buying process, their consumption device (iPhone, Blackberry, laptop, etc.)  To compete today, you need great content well-mapped to buyer personas.For more information, check out this webpage from Avitage on Think Like a Publisher.  Also, check out this great resource called Junta42 by the co-author of Get Content, Get Customers.

    To learn about buyer personas, read this article by David Meerman Scott, Chairman of HubSpot and author of many books in his article “How Well Do You Know Your Buyer Personas.”

  5. Assumption: Qualify.  Ask about budget, access to power, needs and timeframe. (BANT) Then walk them through the sales cycle — with a demo, proposal, etc.
    Reality: Those days are gone forever.
  • Formal budgets each year — gone.
  • Neatly moving though a sales cycle — gone.
  • Answering Requests for Proposals (RFPs) — gone.

The reality is that buyers move back and forth though a buying process and come up with budgets in an ad hoc approach.  The nice and neat process of the past is dead.

Assuming you read this far, and you are responsible for revenue results, you’re thinking “Wow!  The world has really changed.  What should I do now?”

I think you should learn demand generation.  A good starting point is my white paper (free) entitled How to Find New Customers.  You should also check out blogs like Buzz Marketing for Technology and MarketingInteractions.  There are many others and I ask readers to suggest their favorites and recommendations.

In addition, you ought to learn about content marketing and personas.  Pick up the great book by Ardath Albee called eMarketing Strategies for the Complex Sale.  Inbound Marketing by Brian Halligan and Dharmesh Shah is also highly recommended.

What do you think?  How has your business changed?  What are your concerns?  What are you trying now?

I want to hear from you.

Jeff Ogden is President of Find New CustomersLead Generation Made Simple” He’s also the author of two highly acclaimed white papers, How to Find New Customers and Definitive Guide to Making Quota, as well the ebook, Prospect Driven Marketing.

Find New Customers helps business develop and implement programs to improve the way they find and acquire new customers using best practices in lead generation.

In addition, Jeff’s hosting a great free webinar on content marketing with Joe Pullizi (Junta42 and co-author of Get Content, Get Customers on March 11th at noon ET.  Register at https://www1.gotomeeting.com/register/536492297.

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