B2B Revenue Acceleration
B2B Revenue Acceleration

Episode · 2 years ago

25: The Bullseye Marketing Framework w/ Louis Gudema

ABOUT THIS EPISODE

Many companies will miss their mark when trying to remain competitive or enter a complex marketing world.

On this episode, Louis Gudema, Author of Bullseye Marketing, talks with us about the three phase process he outlines in the book and how many years of experience in marketing has molded a practical approach to solid marketing transition.

SMB’s are the heart of the economy, but many companies don’t even know how to get in the game.  The first steps may be simpler than you think!

You're listening to be to B RevenueAcceleration, a podcast dedicated helping software executives stay on thecutting edge of sales and marketing in their industry. Let's get into the show hi welcome to be to be a revenueacceleration. My name is on, am wit, SI and I'm here today with Yortho andspeaker Louis Gudema. Have you been doing? We good right? Thank you forhaving me on the program, it's an absolute pleasure. So today we will betalking about bully marketing framewolk that you have develroped, but before wego into detail, can you please tell us a bit more about yourself and yourjourney in the markting world sure so I ownd and ran on Marketing Agency forabout a dozen years we did a lot of work. This is from ninety eight toabout two thousand and nine. When I had a exit from it, I sold it. We did a lotof work with IBM millions of dolrs O work with IBM, Boston, Globe, EMC othermajor companies, and then we pivoted and became a Sass web developmentagency with our own content management system, because I wanted to have moreof a recurring revenue model shot and that's what gave the company a lot ofvalue when I sold it, then I was vp a business development for two othermidsides agencies, working with large companies and and some SMBS, butcompanies like Phillips Health Care and other major companies of that sort, andthe last four or five years now I've headed up again my own consultancy andagency revenue and Associates, and we work with a range of companies fromstartups to multibillion dollar companies. One of the services weprovide. That probably would be of more interest to some of your clients oryour audience is working with companies. Software companies on empowering theirchannel partners. Absolutely, you know, be a lot of companies. They may have afew great partners like at sensure or Dobe, who are you, know, terrific andreally nail their marketing and know how to go to market, but they may havebozens or hundreds of small and midsized channel partners who actuallyaren't very adept at their own marketing and could drive a lot morerevenue for that company for the software company if they were strongerat that, and so that's something that were one of the ways that we work withcompanies Wyll, you know what we will need to set up a nosor sation. Just tospeak about that. I believe, because this is such I guess, a paynpoint. Idon't think it's a problem as search because everybody is alreadyeverybody's having solution to it. But you are right, empowering partnersgetting partners to do something and also feel for the partner when we walkwith them and we walk vrery crazy with quite a few partners. distributer soiothe traditional, the traditional channel, O oem type of partnership andit's difficult for those guys is difficult to move the needle andgetting shipot is really important and powering them is very important andtaking their ends and helping them to close business is also very important.So I think we should keep that on the side and really have a fullonconversation. We will contact you again. We to to set the vandos up, put guessRom that one, because this is a subject that ware really passionate about and,as you said, this is a subject that is probably extremely interesting for SOMoffalgencs and we know it because we talked about it every day we speakabout it every day. Well, it is one of the areas where you know the bulls eyeapproach, which is what my book is about. The bullsey marketing approachreally is applicable to a lot of those companies and it's really a frameworkfor them to start to kind of an onramp, modern marketing for companies thatthat aren't really doing it yet ia or aren't doing it very effectively orfully in the way that some of the venture back startups or the softwareenterpris companies are doing it. I'm glad that you speak about your book, Sobullse marketing, ththe book thats,...

...recently launched from ourperspectiveessentially, explain the frimework you've developed to generatequick, wins for ball and MIDSAYSE businesses. Okay, but can you pleasetake a few few minutes to tell US Moll about the bullze marketing frameworksure? So let me just get you know for one minute give a little background ofwhy I came up with it or how I came up with it. You know right the marketinglandscape, the marketing world changes very very rapidly, and what work tenyears ago may not work at all today, or even what was working five years agoand what I was seeing was that pproaches, like inbound marketing orsocial media, Organic Social Media Marketing, we're not producing resultsfor many companies unless they may get extraordinary efforts in those areasand and then, as I did, research on it. I saw all sorts of data around this tooaround how the the search world is narrowing. More and more Googlesearches narrow more and more around a few major brands. A few major companiesin each industry, how starting in two thousand and thirteen the social mediaplatforms radically reduce the amount of exposure that they give to theorganic posts from brands. So you know, whereas five years ago, ten or twentypercent of followers might have seen the organic posts from a company today,it's more like one or two percent yeah, and so those channels weren't reallydriving results for companies. But other programs were An- and I wasseeing in a lot of these channel partners- are a lot of small andmidsized companies and smbs or as they're often called in Europe. SMEsare the heart of the economy. There's in the US there's more than three timesas many people working for smbs as there are working for enterprisecompanies. So it's a huge huge part of the economy, and yet I was seeing howmany of them had really underinvested in marketing and the marketinglandscape had become so complex. They really just didn't know how to get inthe game. So the Bullsey approach is a three phase approach to ramping up amarketing program and getting to the point where the adobes or the you knowthe drifts or the hub spots or the venture back. Software companies are,and so in the first phase, companies take advantage of what I call theirexisting marketing assets that many companies don't even realize they haveabsolutely that's very true that' and so, for example, one of those and thereally sophisticated marketers whore. Listening to this will say well, ofcourse, and yes, of course, for them, but not for frankly, from the researchI've done not for eighty percent of the bee to be world. So, for example, emailmarkinglists are a hugelypowerful tool for companies, and yet many companiesvery rarely email have any segmentation have any regular email program. Kinzysays that email marketing is forty times more powerful than social media,which has been my experience, and yet you see this being really underused.You have websites that don't have strong messaging, don't have any callsto action, don't have conversion opportunities, and so almost everybodywho comes to them. You know they come and go, and the company has no idea whothey are or how they can start to engage with them. They don't haveaccount base marketing programs, they don't have strong alignment betweensales and marketing within the company, and so all of these and more are thecenter of the Bullseye programs that I talk about in my book. That can makereally big differences really quickly and inexpensively. These aren't things.An email program doesn't cost a whole lot to do. You can get a you know, atool like male chump or constant contact. You know for tenthousand emailaddresses you can send as many times as you want to for less than a hundreddolar a month same thing with making...

...improvements to the website or addingconversion opportunities or calls to action, don't tend to be very expensiveat all, or improving sales and marketing alignment and even doingoutreach and targeted account programs. A lot of those are really inexpensiveor free and and companies can see results from those in weeks or months,whereas a program like inbound or organic social, they may not seeresults for frankly years, then, in the second ring of the Bullseye, you useintent data to target the companies that are in market now, because ourmarkets are much smaller than we think, because maybe only ten percent of ourtarget market is actually looking to buy what we're selling right now. Okay-and you know, ray it's very hard to sell to someone who doesn't want to buyyeah and so using various types of intent. Data to really hyperfocus themarketing programs around identifying those companies are in market now,whether that's through search advertising, you know and based ontheir search, behavior or whether that's through tracking, how they're,interacting with you and your content in your website or using third partyintent data using that to go after the best opportunities to close soon andthen in. The third phase is where you do the long term, awareness and brandbuilding programs like display advertising and social media and inbound marketing and blogging and so forth. That can produce results in thelong run, but are not where most companies should be focusing theirinitial effort. Absolutely so that's that's the Bullsi approach and in thebook you know, and just the first couple chapters I lay that out. Butthen I go into a lot of detail on about twenty different channels, with lots ofbest practices, tips and examples from small to very large companies, howthey're doing successful, email, marketing or account base marketing orsearch advertising, or these other programs, and that's very important,because at the end of the day, you would be surprised about the number ofpeople watteing a wee, and I can't base approach some people creat a cont basesetting because he's driven, byself and Ceata Combas backeting, because it'sdriven but marketing, but it's actually sometime a bit disjointed. You have agood cells guy, doing some good walk on his account, but he's the only one outof a team of ten ten individuals or Youull have a good marketing personthat would actually do some fantastic walking, idonttifying intelligence,idontifying interest, but ne then that marketing person will need o sellperson to follow up on that interest. We seen one of our crends. I won'tmention their name. Having fifteen touches fifteen responses throughdifferent elements, it could be. Some of them was direct marketing. Some ofthem was people reaching a soutern score within the demarketing otomationsolution, and some of them was participation to evend, the basicallyof as Remon Spire, that fifteen touches fifteen unuch. They was fifteendifferent individuals in one large, big bank, okay, big thing that you knowabout everybody ows about Thut, it's a very big bank, the prime that Thea isthat there inside him or the Fimseltam, or whoever could see that data wasdoing nothing with it because they were. The perception was at the level ofindividual making to statues to slevel of individual showing interest was toJenior in the organization. They were technical people if you will, becauseweare Inde be to be software ward and they just looked at them on a veryindividual basis. So when we realize that we just say well, look, there issomething going on. You know we look at the data and Wel way, Trai to makesense of the data so, and we turned that around so we turn it aroundbasaing. Okay, we had fifteen different indication that someone in that companyis looking into something. That is a massive coincidence right and it's ofluck or in e Ousa nine nne percent of...

...the case, which is you know it's that'ssomeone at the top, is looking at something that goes downe into theorgany Grun that goes on into the organization, and someone at the bottomis doing some research on thing. Basically, what we manage to do is togo back up theorganization to end up with the silavel person that was makingandecision and basically will progh them with a very softr proj, basing Lokwheris lots of shot team now doing some research. They Aly seem to beresearching the same thing it's all great, but we saw that we will come toyou. There is clearly and intent to solve a problem. Can you tell a smallabout your problem n? What woare I bold to do? Tersis you know foult, for that.Vender that we walked with is actually to plug the sell team with that siloversenor person at the early stage of the fact finding solution finding Johnny,okay, which mean the thewible to influence the rest of the selicycleokay. So I guess what I'm trying to say is that all docalemons are important,but there is also a interaction of sharing the information and, mostimportantly, as to your pointes. How do you do it and I think there is lots ofcontent for marketers for cerns people that speak about account, baysadvertising and everything, but I don't actually tell you what successful theydon't really tell you how to do it. You've got to buy something else to doit, so I believe that it's very important to give some practical advice,rather than just speaking about the theory yeah yb, because that that'sreally make a difference for your redals a bef. Well, that's and you've,given a great example there of you know something that would be in the secondphase of the Bulls Eye, the second ring in the Bullsey. You know seeing thatintent, data of fifteen different people coming through your website fromthe same company getting that surge, an interest at the company and then actingon it- and you know this- you know I'm sure, since I've been on the agency'sside, essentially my entire career and you're on the agency side, you getinsight into how a lot of different companies operate and even very largecompanies can have lots of challenges around lots of these programs. Forexample, I, as working with software company, that was around a threehundred million dollar company and they had great misalignment between salesand marketing, and you know they told me that it typically took one to twoweeks for sales to follow up on a hot lead that marketing would send overright. Wasn't this wasn't someone who would downloaded a white paper? Youknow this wis, someone who said I'm interested, and you know that lead isdead at that and it's UPSETICG. It's like I mean we've all done it. We'veall gone on to a website and as for something it could be a cool back, itcould be something whatavoit. Is You know, let's SA call back like a verymenimo thing? If you don't get that call back quickly, it does upset me andif I do it with two or three different providers, woevver calld me back fastis lakely to get my business. No, I was I want that right. I mean I'mcompletely different from business, but I'm doing some work on my house at themoment right and we build us fantastic. You know, we've got, we met some Bildos.They will do some fantastic quot they've got all a fontastic pot for you,two of them are terriboet. Communicating two of them almost makeme feel that they don't want our business. It Ake long time to respond,and I think it's very important to stride the iron when it's hot, but Iguess that whole conversation that Wlin Righton is leading me ninely to my nextquestion and what I want to talk to you about Louis is around ritten aninvestment. It's about you K, W you've, seen through your career and strow whatyou are doing and, through you know, the IDBAND PORSI marketing. I'm sureyou've seen lots of people implementing all thes strategy effectively andworking effectively with the sellstem. But what should be the expectation interm of from the perstpective of Friton, an Investment Howu? Do you measure andyou have best practices to Shar Tome of what should be expected sure. So let mejust say one thing before I talk about...

Rli yeah and that is about what is thebiggest challenge for companies who are undertaking ow this or similar efforts,and that's really executing, and so you know I can come up with the strategy.You can come up with the strategy, but especially if a company is just like achannel partner hasn't been aggressively marketing and realizesthey do need to market, but at the same time they need to make a commitment ofsome resources, which often may not be very much that it may be just as whatseems to us, like a small amount of time to review and give their input andapprove and so forth. But the execution is where so many companies fall down onthis. Even on the very simplest things, as I said, like a company that takesone or two weeks for sales to respond to a good in inbound lead in terms ofthe Roi, so you know there are companies startups in smaller companieswhich, like some of the channel partner size Companis, where we've increasedrevenue dramatically in just a year or two like doubling or more. There areother situations where part of the beauty of the center. The Bullseye isthat those programs cost almost nothing. As I was saying before, and so the RoiI've worked with companies where email became their number one channel for newleads an sales and n w cost them almost nothing where they improve theirwebsite and added conversion. You know added calls to Action and improve theconversion and it may mmediately doubled. The number of website leadsthat they were getting I'm a big, big proponent, of direct sales, outreach ofmarketing in sales, whether you call it account base marketing or Cauntbassales or whatever targeted account programs. But where you you say hereare the twenty five or fifty accounts that we're really going to go. Afterand working on the research and then approaching them with Yo, now contentand materials and ways to get the appointment wayst to get in the door, Ithink for many be to be companies that can be one of the fastest and most costeffective ways, and that's been my experience in working with companies togenerate more revenue. So you know part of the. The beauty of the Buzarapproach is the center of the Bulls eye and the customer is at the center ofthe Center and understanding the customer and what drives are buyingdecisions and and so forth, but the center of the Bullseye is very low costand so very high Rli, and it's in the c second ring where you start to you know,get into more money and where you w may be more a little more challenged interms of you know. Measuring the Roi Because, as you know, attribution is acomplex question. Always is Yep absolutely once you get the fullmultichannel program going you K O, then you get into the more complexissues of attribution, but initially companies tend to see very good Roifrom those center of the Bullseye programs and even the Second Ring Yepwe're in the business or ping companies to engage with the target market. Buton a very sells you know, as you said, that appointment element is reallyimportant for clrients. They want that appointment. They want to squatify theopportunity they want our activity to be very close to Revenue Ben Ev thatits critical to have a proper marketing strategist. If we are, the Burzi isfantastic. We've got lots of things revolving around us and, and I see Ractivity and marketing walking together and to end we get clues. We getinformation, we get intelligence from marketing, we get intent and then allthat can create a story. It's a question of havving someone there andmayit. You know we speak about a function that that business developmentfunction. wactually spoke about with one of our guests. Recently, DavidDereny, we spoke about the chief...

...business development of hise, so thatperson that sits between the CMO and the CRO and is supposed to get the glueis supposed to join the DOT and get Tho. supportunities walked on up to a stagewhere they can be passed on. But it is, you know you cin, of someone doingbusiness development on their own from nothing from a list of accounts from anExele spreadshit from the yellow pages from Google right, the run rate willprobably get to a Plateou and you can't increase theur performance. Then youhad the marketing the smart marketing intent, marketing image, marketing Arcombase marketing approaches. All those tools can really support that businessdevelopment, Posson to increase the projuctivity intrastically, and I thinkthat's relly. What it's tall about the human element is still very importantand having a good business development derson. But if you fed them Yof, yougive them tools in the arsenal. You equipp them to really get better andwe're talking about being better quate on Quata, and we see that to a lotbecause, like you, we've got the chance to walk with a white spectrum oforganization. Organes te Shat already have a very complex technnogy stack.vecous people will sit, funding them got nothing and the war dub is theoyister and we can really see whis dos gays moving up to Serry ABCD IPOacquisition. What I jounis big! You know when you look back, you said well,you know we started there and then we managed to increase our projectivityand we've done that wo, a Shu somebody that was supposed to do with ten peoplewot to diminash toit with five people, because we don't walk outher. We WalkSmarter and I think that's PASL bout. It's about walking, smalto yeah and, asI said it's about executing you know, we have a term in the US. I don't knowif you use the same term in the UK or Europe first responders, yeah and youknow first responders are like the police or the fire people or theemergency medical people who are on the scene of an incident. You know somesort of tragedy, but I use that terament about a point you were makingbefore about sales people that sales people need to be first responders.That salesperson, who and there's lots of data on this. You know thesalesperson who responds in five or ten minutes has a much highered chance ofwinning a deal than the salesperson who responds even an hour later, and it'ssomething I learned from a client. I first heard this from a client who hadsoftware in the hospitality industry and they had one of the things thatthey had was a portal where organizations could post that theywanted to do a conference or an event, and then hotels and conference centerswould would see those opportunities and bid on them, and they said that thecompany, the hotel or conference center that responded first one over fiftypercent of the deals, and so even that simple of improvement in what a companydoes can have a dramatic impact on the kind of revenue that they can generate.And you know I sometimes compare it to marketing with Exercise Wan. I saw thatyou like to do cycling. As do I- and you know, there's a lot of research-that if you do two and a half hours of exercise a week, it has huge healthbenefits for people and yet in the US. Only about twenty percent of people dotwo and half hours of exercise a week, and you know it's been promoted overand over again and I've done research where I looked at three hundred fiftyone smb BTB companies with about fifty to a thousand employees. So these werenot you know so, Lo Praners, these were not small startups. These wereestablished, Beto, be companies, and I looked at theire marketing programs. Ihave a nine point, disital marketing score card and there was a hugedifference between the software companies, where the median was thatthey were using two seven of the nine programs and companies in all otherindustries, manufacturing medical devices, professional services and alot of channel partners where the median was that they were using onlytwo or three of those nine programs,...

...and so literally just like with theexercise. Eighty percent or so of companies are just not marketing,hardly at all and there's a huge opportunity for them to dramaticallyimprove their results and their revenue. And when I looked at those companiesand looked at how fast the growth was, the software companies that werescoring eight or nine were growing five times faster than the COMPANI's thatscored zero to three, so is the difference between, say: Seven percentgrowth a year or thirty percent growth a year, huge differences that the mostsophisticated marketers and the companies that were most committed tothis were able to achieve. So that's the kind of opportunity that I think alot of companies have yeah what I think it it. It does make a lot of sense andI could carry on that conversation for a long, long, long time with Youlway,because it's really pashionatable to all the topis that who are aproachingtoday. Unfortunately, we get into teen of end of our Ossession to the end offour podcast. So I would like to thank you for your time. Wei will like tothank you for all the the input, the example that you've been sharing withus today. I'm sure our listener and audience. We well get lots of valuefrom your input now. What is the best way to connect with you if any of ourlistener wants to know more about Bulday Markting, your book, YourCompany, which you do what's the best way to get in Toch with Youloui, so myboltime marketing book is available on Amazon. I was just noticing the lastmonth a quarter of the sales were in Australia, so it was nice to see it'sgetting attention in other parts of the world, and I am available. The companyis revenue and Associates. I can be emailed at Louis Lo, Ui s at revenueassociate tat is I'm on twitter at Louis Gadima, I'm on Linkeon, of course,so happy to hear from people through any of those ways, and you know, wouldlove to talk with people and what their experiences or what the reactions towhat we've been talking about are fict. Well, thank you. Many things for yourtime. Today it was great to have youn the Shu we and I'm sure we will contactyou again in the Ner futre to discuss about SOM ozotopics. Thank you verymuch. I enjoyed it. oper adics has redefined the meaning ofrevenue generation for technology companies worldwide, while thetraditional concepts of building and managing inside sales teams in househas existed for many years. Companies are struggling with the lack of focus,agility and scale required in today's fast and complex world of enterprisetechnology sales. Seeow operatics can help your company accelerate pipelineat Operatics, dot net you've been listening to B, to b revenueacceleration to ensure that you never miss an episode subscribe to the showin your favorite podcast player. Thank you so much for listening until nexttime.

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