The Competitive Advantage

June 24, 2015

Marketing & Sales Advice from Leaders in our Industry, Part 1

Marketing & sales – and the results they produce – are important to everyone in a firm… but perhaps to no one more so than the owners and senior leaders of those firms… those who have P&L responsibility and who are charged with the growth and sustainability of those businesses.

To get an inside look at how marketing & sales are viewed inside the “C Suite,” we interviewed the leaders of five very well-known, highly-regarded firms in our industry. We think their perspective will be helpful to those struggling with marketing & sales in their firms.

Up first in this 5-part series… Paul Metz, Executive Vice President/Managing Partner at C+R Research in Chicago.

June 20, 2015

Hiding in your booth? Really?!

I attended IIeX NA in Atlanta this past week… a very interesting event with a focus on technology and emphasis on the future of research. And attended by 750 people!

A gold mine for those companies exhibiting… or so you would think.

June 9, 2015

8 ‘Lazy’ LinkedIn Mistakes Too Many Users Make

We all know about LinkedIn – THE social network for businesspeople. Rarely do I come across a client, prospect or vendor who is not on it. I am not a ‘power user’ (I still take advantage of a free account), but I am an active user – connecting often, posting frequently and participating in online conversations.

And as an active user, I see way too many mistakes made by way too many users – all of which happen simply because they are too lazy to take a few minutes to “do it right.” Here are the most egregious of the LinkedIn mistakes (in no particular order)…

May 30, 2015

9 Ways to Build your Business During the Summer Slowdown

For better or worse, we work in a feast-or-famine industry… business vacillates up and down, often for no apparent reason. But one thing is fairly consistent… our industry usually slows down in the summer. Client projects dwindle, families go on vacation, the kids are out of school, etc.

But rather than bemoan the slowdown in your business, maybe you should take advantage of the extra time on your hands to focus on building it… to plan out and execute some marketing & sales activities.

And here’s the best part… aside from not costing much money, even if you decide to get away for a few days… most of these suggestions can be done from the beach with an internet connection.

May 27, 2015

How to Manage Long Sales Cycles

I was talking with a client last week about the long sales cycles in our industry. I was “bragging” that I have one client that took nearly two years to convert from prospect to client. Unimpressed, the client then mentioned that he had one that took eight years!

OK, eight years is a little ridiculous, but a 6-12-18 month sales cycle is an all-too-common scenario in B2B professional services industries… one that we all have to learn to mange. From my perspective, there are two key strategies for “sticking with it” through the long sales cycle.

May 20, 2015

I Lost a Client Today!

In fact, it was our longest-standing client.

No, we didn’t mess up. And no, they didn’t find another marketing services supplier.

The issue is an all-too-common one in our industry… they lost their largest client. In this case, one that accounted for more than 25% of their total revenue. And with that kind of financial hit, my client is facing some serious cash-flow issues… and that’s what got us.

For some firms, a client worth 25% is actually on the low side… I’ve heard of a single, large client accounting for as much as 60-70% of a firm’s total revenue! And with a huge client like that… it’s not IF you will lose them, it’s simply a matter of WHEN.

May 13, 2015

Advertising Doesn’t Have to Be Expensive

There was an article in this morning’s newspaper discussing how expensive it can be to build awareness through advertising… $340k+ for a 30-second spot on The Big Bang Theory, $600k for a spot on a Fox Network NFL game, $675k – per day – for the universal masthead on YouTube, $200k to be an Instagram advertiser and even $1.5million for a spot during the NCAA March Madness final game.

I agree… pretty staggering numbers. Unfortunately, it’s because of articles like this – and sensationalizing the dollars involved – that the overriding perception about advertising is that while potentially a valuable weapon in a firm’s marketing arsenal, it is too expensive for most firms to take advantage of.

And while it’s true that you do have to spend some money to create and place the ads, the actual dollars needed to help build awareness through some of the Market Research industry (or most any industry, for that matter) marketing vehicles are downright pedestrian when compared to those numbers above. For example…

May 1, 2015

The Top 10 Ways to Build Awareness

Two weeks ago, I went to the 25^th Annual Franklin (TN) Jazz Festival. Were it not for a tiny little nugget in the sidebar of an email I received, I would not have even known it was going on. Sadly, as evidenced by the size of the crowd, I was not alone in that regard.

This past weekend, the Country Music Marathon took place – one of the 10 largest events of its kind in the U.S. – with more than 27,000 runners. It’s a big deal. And I only heard about it 2-3 days prior.

Why is that? Why do these important community events – with access to a lot of local marketing channels that you and I don’t have – do such a lousy job of promoting their presence? Is it because they’ve been around for a while and just assume that everyone knows about them? Is it a money issue? Is it a knowledge issue?