Mechanics

Is Your Sales Mechanics aligned to Post Covid Message?

If COVID-19 has impacted the effectiveness of your outbound sales campaigns, you’re not alone.

 

A lot of TechCEOs are in similar situation. Most have gone into a shell ‘protection’ mode and are being conservative. Very few are taking chances and doubling down on marketing, revamping messaging and staying connected to clients and market in general.

 

A 2020 HubSpot analysis of 70,000 software customers found that response rates to sales emails (and campaigns) declined by 27% from February to March this year, so the decline is affecting all of us!

 

But there is hope. The same HubSpot study found that marketing open rates actually increased by 21% overall over the two months.

 

These numbers paint a compelling story. Clients are willing to engage with your company but in certain contexts above others, and the study suggests that people are more interested in educational or informative resources, like your blog or educational assets.

 

What does that mean for TechCEOs and sales leaders? As business are recovering and tweaking their H2 plays, you can continue to position yourself as a trusted advisor to prospects and look to create a long-term relationship when the buyer–and budget–are more ready.

 

Even if you don’t have a relationship with a prospect yet, you can build credibility and trust by incorporating inbound learnings into your outbound approach. Here’s how:

  • Work with Marketing to learn what your prospects care about right now
  • Add value, not asks in your sales messaging
  • Revisit your prospect tiering/scoring accordingly

 

Read More
Uncertanity

Are You Spooked? Don’t.

“This feels like a hell. 2008 seemed manageable”

“Will my business survive this? Two of our customers have asked for massive hair cut!”

“How will I manage next 3 months?”

“My pipeline is off the table. This is disastrous!”

“This is not the moment for growth. This is the moment for survival.”

These are some verbatim quotes from TechCEOs with whom we are talking to right now. There is fear, anxiety, pressure to hang in and most painful of all is that (it seems) there is no visibility at end of the tunnel. 

 

“We just came back from our fantastic sales kick off in Bali end January and now this! This is the worst crap show that could have happened at the beginning of the year. “

Are you resonating with these thoughts and emotions? If yes, well you are not alone.

 

Well then in any situation you have two ways of looking at things. One through a filter of fear and anxiety and another through a filter of confidence and progress. Fear usually is usually related to uncertainty while confidence is related to commitment, courage and discipline.

 

It’s all about having the right frame of mind to address this crisis. Maybe we have to learn to shift our mindset and pick up a few tricks from the Navy Seals.

 

There’s a part of Navy SEAL training called “drown-proofing” where they bind your hands behind your back, tie your feet together, and dump you into a 9-foot-deep pool. Your job is to survive for five minutes.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Read More
10WaystoEngage

10 Ways TechCEOs Can Engage With Market Now

Last week we shared how TechCEOs can respond to the Covid-19 event and take control of your business. This week we will cover how you can find ways to stay active and in touch with your clients and community at large.

 

In an effort to help out TechCEOs, we’ve compiled some creative strategies for keeping your clients engaged and connected during this time. As you start thinking about how you can best use these, it’s important to remember that while your business stability may be front of mind for you, many people are facing physical, emotional, and financial strain at this time. Communicate with care, consider how you can help your audience feel valued, and be intentional in your approach.

 

Strategies

1. Be more than a business. 

Brands can generate loyalty through their value and meaning and connect with clients beyond transactions. Many brands have adapated to Covid-19 crisis by pooling their resources to support communities they serve. In terms of brand positioning, this can propel a company’s profile and brand values to resonate with existing and future customers. If you can contribute to your community – you are the best.

 

2. Listen. 

Listen. Now more than ever, it’s important to know what customers feel and do, and why. Set voice of the customer (VoC) programs to listen for references to COVID-19 or other shifts. If it’s your existing customer call them and talk to them. Send in a short survey if your patch is broad based.

 

3. Use social listening tools to listen even more. 

Use social listening tools to monitor customer discussions about health concerns or information needs relevant to your brand. Ask sales and account management teams what they hear from the front lines. Monitor customer care emails, phone calls and service chats for changes in concerns or sentiment. You can also use tools like Hootsuite to do the same. 

 

4. Engage with empathy. 

TechCEOs must support customers and protect customer relationships while staying honest about what the firm can and cannot deliver at this time. Be careful about taking actions that provide short-term stability (or gain) for the firm at the expense of customer trust.

 

5. Manage your commitments. 

Set realistic expectations about service levels, product launch dates, product availability, and so on. Review your market segment and Ideal customer profile. If you are selling into travel industry it is time to pull back and bit and re-direct energy to sell into other industry segments. Consider pulling campaigns for products you can’t be sure you can produce and deliver. Evaluate current policies and consider rational changes — for example, allowing cancellations or extending payment terms. 

 

6. Ramp up digital delivery of everything. 

Promote apps and other mobile tools and services. Ramp up capacity for remote delivery of services, online transactions and digital interactions. Innovate ways to deliver your product or aspects of it online. Yet, even as you enable digital options, understand that some people will always need to hear an empathetic human voice, especially now, and be prepared to offer it.

 

7. Optimise marketing spend. 

The next three to six months will bring many societal changes that trickle down to the marketing plan. Use the best-, worst- and moderate-case scenarios to anticipate possible and likely changes and take alternative actions. Don’t stop marketing. Change strategy and approach marketing differently. If you are out of sight you will miss the bus when the market bounces back.

 

8. Increase your social media presence. 

Your customers are already on social media, but these days, they are likely checking in much more frequently to get the latest updates on the virus. Whether you’re posting about the virus specifically or trying to offer light, positive content to help take people’s minds off the panic, it can be helpful to increase your posting frequency to ensure you are showing up in their news feeds.

 

9. Deliver great content. 

More people will be spending more time at home over the coming months. Brands can provide lighthearted and uplifting or informative and encouraging content to people looking for support. You can provide them content that helps them think more, adjust their business models & response, think through new products & services, alternative market segments and tips on how to house keep in these times.

 

10. Help them engage differently. 

Offer them new ideas that can help them engage differently with their customers. Provide solutions that will address a need in this market. Your clients will greatly appreciate your offer and thinking prowess to help them engage with clients during tough times.

 

P.S.Whenever you’re ready… here are 3 ways I can help you grow your tech business:
 
1.   Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.
  • 10 Steps TechCEOs Can Take Now to Bounce Back Click here.
  • Should Tech firms consider Re-Branding to Drive New DemandClick here
  • Do TechCEOs Get ROI from Marketing Click here
  • 3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.
 
2.   Schedule a 15 Minute assessment call with us – Click here.
 
We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.
 
3.    Join our TechCelerate Implementation Program and be a Case Study
 
I’m putting together a new coaching case study group at TechCelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.
 
Life is short. Take action now and grow. Best Wishes.
10 Steps TechCEOs Should Take To Bounce Back

10 Steps TechCEOs Should Take To Bounce Back

If a disease can teach wisdom beyond our understanding of how precarious and precious life is, the coronavirus has offered multiple lessons to the business world as well.

 

The first is that in a globalised business world our lives are so intertwined that the idea of viewing our businesses as islands – whether as business leaders, CEOs, entrepreneurs, share holders, individuals, communities, or some kind of uniquely privileged species – should be understood as evidence of false consciousness.

 

And now, as we start to enter periods of quarantine and self-isolation – a simple piece of protein has shown us that we are as vulnerable and less important as isolated beings just taking care of our individual needs. It has taken this virus to show us that only together as a global community are we at our strongest, most alive, most resilient and most human.

 

Same principles applies to the business world. Only when we are connected with stake holders in our businesses and care for each other’s success we are at our strongest, most alive and most human. Else we run the risk of becoming a platform run by some AI logic that purely exists for profits! More vulnerable to threats just like this pandemic hitting us unexpectedly.

 

Further more, this pandemic encourages us to pause and reflect because we are cut off from the bombardment of distractions and placed in environments (social distancing) where we depend on ourselves, customers who believe in us, employees, friends and family.

 

As we sit on this global social distancing movement, here are 10 things you could consider as a TechCEO to bounce back from this sobering moment in time:

 

  1. Gratitude – If you are reading this and have a running business, let’s be grateful to live in a country with skilled health-care workers we can trust to do the right thing in these situations. And for governments that are doing their best to provide for the needs of the most vulnerable. We are fortunate compared to many other countries. But for many others, the anxiety and suffering remains. Let’s pray for them and continue to show our sense of gratitude to our creator, our community, nation in protecting us during this time of the hour.
  2. Respond and do not react: Many of the uncertainties that people feel today in reacting to a pandemic are the same as they were centuries ago. You don’t have to react like people who are in a spree of panic buying, emptying supermarket shelves of toilet paper and other essentials. Lead from the front and from circle of control. Not circle of concern. The world is not going to end. We will all bounce back.
  3. Reflect on your purpose, vision and why you exist? Is your your business shaken just like the airlines who have nowhere else to go in a cut-throat world where they need to compete with rivals, to drive them out of business and make as much money as they can for shareholders? Or in these times you and your customers can help each other to hang in there, help each other out to move along?
  4. Don’t act like as if you know it all – Most of our client TechCEOs are confounded by these questions. Should I freeze, go slow or make careful moves? What should I do in the short term? Will the situation change in next 2-3 months? Or it’s going to be 8-10 months uphill? It’s natural to have these thoughts. If you are one of those leaders who believes that you must continuously show up as the one in control, be stoic and be perfect – you could be wrong! When you’re in a place of feeling like you have to be perfect, the last thing you think you can do is ask for help. This is the time to ask people for help. You need to be open to different kinds of help. This includes your customers, employees, partners, well wishers, families and friends.
  5. Add more value to your clients and deepen relationships – It’s more important to respect your relationships with and support for customers in an unprecedented time like now. Next few weeks (and months) your customers are going be confounded by same fears, uncertainty and turbulence in their businesses. Find out how you can help them regain confidence, believe in putting together hedges & plans and stay with them to support in executing it. Offer them value added services and communicate more than usual. How you treat your clients that are hit the hardest by this will directly impact the lifetime value you realise from that client. Build deeper relationships and enhance your social capital.
  6. Review your solution and product portfolio – We have one global common trigger event. A pandemic. For next few months, key driver for both public and business consumption will be basic essentials – food, shelter, healthcare, communication and few more needs that keep lights on. Ensure that your solution or product is geared to address those needs. Do not go to market with solutions that promise colonisation in mars or hyperloop travel. Message the market accordingly and reach out to customers to support their immediate needs. Positioning ‘work from solutions’, ‘remote sales team’, ‘mobile healthcare’ and many other solutions that facilitate distributed work modes and support social distancing will be well received. Not all industries and businesses have equipped themselves to handle such a sudden black swan event.
  7. Go to market in a meaningful manner – Some of the market segments that you serve may have been hit harder than others. You need to establish the right motions and approach to each of those segments. The ones that were hit harder may be the ones where you have to invest in helping them and lean in as an organization. At the same time, focus on segments (Eg: healthcare, security, communication, mortgage refinance, food) who are meaningfully supporting communities, businesses and individuals to hang in there. These segments will gorw and your services to them might be vastly needed.
  8. Stay agile – Set out a clear set of priorities and implement them with a high degree of autonomy and empowerment. In a dynamic situation, overly centralising decision making impedes your organization’s ability to respond quickly and effectively. Effective leadership is to empower employees to make the best decisions they can, bearing in mind a clear set of priorities, such as keeping everyone safe and behaving ethically toward customers. Responding quickly and meaningfully to clients, partners and important stake holders is more important that imposing command and hierarchical control.
  9. Take action – This is not the time to retreat. If you operate at this level you are taking actions in reverse. Businesses that retreat are probably trying to avoid the negative experience they imagine will come from the results of taking action and possibly risking everything. Some of our client TechCEOs are taking multiple actions roll out campaigns that support remote working (eg: AWS Workspace, Citrix, VMware Workspace One), enhance their go to market kits (customer case studies, EDMs, presentations, landing pages) and reviewing their market positioning and re-brand initiatives. This is a perfect time to focus on important initiatives that you have put in back burner and did not have the time to prioritise. This is the time to get those thing done in a hurry. Prioritise incremental organisational value addition projects when the market is in a lean mode.
  10. Show up everyday – Understand that this too will pass. Nothing lasts forever. Those who don’t quit but instead dig in and get through them will come out the other side with a better work ethic, an increased customer base, and a bigger piece of the market. Remember, any problem you face now is an opportunity in disguise. The question is, will you be better or worse when this event goes away?

 

 

P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business:

1.   Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

Do TechCEOs Get ROI from Marketing Click here.

Should Tech firms consider Re-Branding to Drive New Demand – Click here.

 

2.   Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

 

3.    Join our TechCelerate Implementation Program and be a Case Study

I’m putting together a new coaching case study group at TechCelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action now and grow. Best Wishes.

Different Content

What’s The Difference Between Sales & Marketing Content?

As we continue to help Tech firms drive demand and accelerate revenue growth, we’ve have come across many TechCEOs with different levels of Go to Market readiness. 

 

When these TechCEOs kick off a campaign for a product or service with immediate sales focus, I encourage them to take a breath and look at their revenue strategy and goals. One such key element in putting together a plan for driving top of the funnel, content marketing become very important.

 

The reality is there’s no silver bullet in content marketing. Content marketing is all about playing both long and short game accordingly. It’s about creating content that starts a conversation, which will transition into sales down the road. It’s not selling out of the gate.

 

If you’re marketing through content, you can’t achieve authority position with your content and tell your sales stories at the same time. Why? Because you run the risk of diluting your message.

 

You have to choose one or the other: You either market your stories or you sell your products.

 

So, What Is Marketing Content?

One word: Compelling story telling. Marketing content is about telling a compelling story or narratiev about your product or services alongside its benefits to the client. In fact, good marketing content will charm people to the point where convincing them to buy is easy.

 

Marketing content is about attracting people to whatever you’re selling and the kind of company you’re building. The content people love to share (and that journalists love to write about) is not the content that says how great you are. Rather, it’s the content that speaks to your customer’s pain point and speaks to your “why” or your values.

 

People want to work with people that they know, like and trust. But it’s hard to establish trust or affinity with someone when you’re also trying to sell them something. That’s why your marketing content needs to make the best impression – not be an immediate turnoff.

 

OK, Then What Is Sales Content?

One word: persuade. Sales content is about persuading buyers that you understand their problem and your products and services solve that problem, how will you do it and why your people are a good fit for what they’re keen to solve or build.

 

This is your chance to highlight your customer case studies, testimonials, such as your customer list, awards, credentials, etc. That’s the sales content that will sway people enough to want to work with you.

 

Now How Do You Balance The Two?

As a brand, if your marketing content is strong and does a good job of telling a compelling story to prospects, your sales content doesn’t need to be forceful or pompous. It should always bring quantitative facts, align to customer context, relevant and to the point.

 

In short, marketing content is about selling people on you, your brand, your vision, your perspective, your story. It should show who you are and showcase your uniqueness without your having to come out and say it. Sales content is about selling buyers your products or services. It should include an articulation of why people should ultimately give you, not your competitors, their business. It should help people make their purchasing decisions more easily.

 

Use marketing content when people are still in the marketing stages of the journey. This is when your audience is looking for answers to their questions or needs advice about problems they’re looking to solve but aren’t sure who to turn to. Marketing content helps you nurture your relationship with them at this point.

 

Use sales content when your audience is in the sales stages of the journey and is close to making a purchase. Sales content here is meant to paraphrase problem, articulate contextual value, your promise and convert audience members into customers.

 

What happens if you use sales content within your marketing content? In some cases, it’ll turn customers away, which will hurt your sales. The most important thing to remember is that the relationship between marketing and sales content hinges on getting the sequencing right. Market when they’re in the marketing stages of their journey, and sell when they’re ready to be sold to.

 

Build A Solid Buyer’s Journey

The goal is always to create a delightful buying experience, not one where people are being force-sold products and services. Content is a great tool to help you do this.

 

You can use your marketing to showcase who you are, what you stand for, and to attract potential customers who have an interest in working with you. Then, sales can become a natural, organic progression of that interest.

 

Capture them with marketing content, convert with sales. (Know, though, that this won’t work if you aren’t taking the time to truly connect with your audience in the early marketing stages. You have to convince them to support you.)

 

Can sales content ever be used in marketing content? Maybe. But I wouldn’t recommend using this approach too often unless you’re willing to chalk your efforts up to experimenting with some new approaches.

 

Before people are customers, market to them. Once they become customers, you have more freedom to send sales and marketing content in tandem their way. With that said, I do think there are opportunities to use sales content in your marketing efforts to existing customers.

 

I say that because if they’re already customers, you’ve already gone through the effort of charming and convincing them, so you’re not starting at square one. With existing customers, you can cut to the chase a bit, but I would caution against constantly hitting them up to buy more.

 

Instead, focus on creating marketing content that reminds them why they were drawn to you in the first place.

 

P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business:

1.   Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

Do TechCEOs Get ROI from Marketing Click here.

Should Tech firms consider Re-Branding to Drive New Demand – Click here.

 

2.   Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

 

3.    Join our TechCelerate Implementation Program and be a Case Study

I’m putting together a new coaching case study group at TechCelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action now and grow. Best Wishes.

 

 

 

GTM

10 Reasons why you should not rely on OEM partner channel?

“Mag’ let’s leech on and use our OEM sales channel to scale our business from $20M to $50M.”

Many TechCEOs have this wish of building their business on top of their OEM channel and relationship. It could be on top of AWS, Microsoft, Oracle, VMware or Google channel. Nothing wrong with that idea. Just that you have not built a solid revenue acceleration capability within your organisation.

 

Here are top 10 reasons why you should consider building demand generation capability within your organisation?

  1. OEM channel relationship built with people working there is not permanent. People (sellers) change jobs and you will have to start all over again.
  2. Your alliance/channel manager can also change jobs.
  3. OEM sellers target big deals (usually long sales cycle) in named accounts. Onus is on the partner to work hard and make it happen. If the deal does not convert you are at a loss.
  4. Relying on OEM channel works well in growth markets. When more partners hop in it becomes that much difficult to rely on OEMs for leads. You have to perform.
  5. In a crowded market, customers usually want to work with a partner who has a differentiated offering and has a compelling value proposition. You can create this only when you initiate conversations and engage differently from day one.
  6. Selling ‘beach head‘ quick win offering can help you execute ‘Land & Expand’ strategy to enter named accounts. Your OEM sellers might not be interested in that.
  7. If you comply to OEM sales behaviour you might have to compromise on your service margins. You might end up re-selling licenses with 7%-8% margins and not grow your service business and margins.
  8. Having your own selling engine will help you control your (revenue) destiny. You control client engagement, positioning your solution, pricing and customer success follow through.
  9. You can smartly structure a hybrid strategy that includes inbound leads from OEM channel and integrate it with your own selling engine. This way you qualify deals better, control your revenue forecast and have slack to fill holes in your revenue budget.
  10. Finally, having a solid selling engine will increase your valuation multiples. It can get you 30% more when you exit the business. Don’t you want that?

 

We work with TechCEOs to structure a GTM that helps them hit targets and increase their valuation too. In 2020, let’s work smart to accelerate revenues and build selling capability within our organisation.

 

P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business:

1.   Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

  • 4 Ways to Position Your Tech Business to Attract More Clients Click here.
  • 3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.
  • Do TechCEOs Get ROI from Marketing Click here.
  • Should Tech firms consider Re-Branding to Drive New Demand – Click here.

2.   Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3.    Join our TechCelerate Implementation Program and be a Case Study

I’m putting together a new coaching case study group at TechCelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action now and grow. Best Wishes.

 

 

 

Events

How Can TechCEOs Capitalise On Events To Drive Leads?

B2B Events should be part of any TechCEOs demand generation strategy. We recommend atleast 2 events any growing firm should participate to connect and engage with B2B buyers. Key reason why you should do this is that events are a place where a large number of B2B decision makers show to check what’s out there, learn and update their knowledge.

 

What’s more important, no other form of marketing activities gives such a large opportunity to present the brand, its values and establish a real face to face relationship with potential buyers. World-class marketers confirm this thesis. In 2019, most of the respondents (68%) indicated in-person events as a most successful tactic for generating qualified leads for the top of the funnel.

 

While most TechCEOs do participate in events, not many know how to make them work in their favor.

 

If you do not know why you are at an event and have a well defined process to drive value then you are wasting both your time and money. True value is generated days before and beyond the day of the event.

 

Case study of A Leading GTM Software Company

GTKonnect, a leading provider of Global Trade Management solutions based out of the USA wanted to improve their presence and create brand awareness in the GTM community. Though the company was present in GTM events year after year, they never made and impact with powerful marketing initiatives.

We worked with the GTKonnect management to re-position the company, develop a new brand message and target a launch at few select events.

Read More
Weak Messaging

How Weak Messaging Can Derail Your Demand Generation?

Have you wondered why potential prospects walk away from your Tech firm without buying?

 

Do you know why your demand generation campaign is not yielding any result?

 

Do you know why sellers simply cannot connect with prospects and articulate value?

 

TechCEOs and leaders usually assume it’s your products, service offerings or lack of right references that keep prospects and clients away from you.

 

But often, it’s simply that you are confusing the heck out of your potential prospects and customers, and they’re going to competitors whose messages they can easily understand.

 

Have you watched any Hollywood movie lately? If we watched Harry Potter try to knock off Voldemort, settle into a nice lifestyle with his friends AND discover his true identity and past, that movie would be terrible. Real life is messy, but movies filter out all the clutter and give us a clear, compelling story.

 

Here are the three most common ways that Tech firms confuse (and lose) customers:

1. You only talk about yourself. Your messaging is ‘Me Centric’.

This is probably the most common thing TechCEOs do to confuse their customers. They lead by talking about themselves. Their service offerings, history, their awards, how long they’ve been doing business in the South East Asia, India and the US. Customers don’t understand how the information is relevant to them, and they tune out.

 

Why?

Read More
Demand Generation

Do TechCEOs Get ROI From Marketing?

Propelling a company forward is lonely, and TechCEOs/ founders have to make difficult decisions every day with limited time, resources and imperfect information. In our experience, we see hundreds of TechCEOs struggle with demand generation. They invest monies into marketing and struggle to get any ROI.

 

When I ask TechCEOs, “Is your marketing working?”, this is what they say.

 

“I don’t have time for marketing. I only believe in sales.”

 

“Tried it. Spent 100K on a team. They left after 8 months to a bigger firm leaving us high and dry.”

 

“I am spending a lot of money in both inbound and outbound but struggling to get meaningful ROI. I don’t know if it really works.”

 

“My Software OEM is pushing us to market and do demand generation. We try to ride on their marketing and sales engine.”

 

Does this resonate with you?

 

Most of the TechCEOs with an annual run rate of $2M-10M end up paying anywhere from $2500 to $15,000 per month in marketing (events, sponsorships and team salaries). After investing $15,000/month it is sad to see marketing initiatives bomb or the team leaves the company and jumps ship. Even worse, there has been no tangible ROI that they have gotten for that spend.

 

So the TechCEOs hire direct sales people and believe less in marketing. Not that they don’t want to but they don’t see value in it, don’t know how to make it work or have not tasted success before.

 

Well here is a little secret.

 

If you don’t understand marketing and do not have a clear plan to create awareness, drive demand and generate leads – you are stumped from day one!

 

The golden goose of growing your business is ‘getting the right leads and driving demand‘.

 

This is usually work of a well oiled marketing engine. Also here is is some good news. If you have a solid marketing plan, deploy a marketing system that is well structured and inject automation into play – you can be less reliant on marketing talent and be more in control of demand generation.

 

Meanwhile marketing landscape in selling Technology and IT services is always changing. If you haven’t brushed up on it recently, you may be in for a lot of surprises. If you’re looking to start taking your marketing seriously, here are 5 surprising marketing statistics and what they mean for your business.

  • Over 80% of prospective clients research tech firms online prior to engagement.
  • Over 45% of tech buyers source buyers using social media, third party analysts and OEM partner channel.
  • Mid sized tech firms get stuck in demand generation after some time as they run out of leads!
  • 67% of tech firms don’t position themselves as though leaders in their own industry and get price shopped!
  • According to a recent Gartner study, 47% of TechCEOs reported that hiring/investment in marketing staff was one of the top decisions that resulted in developing new business.
Read More
Singapore TechCEOs

5 Steps Singapore TechCEOs Should Take to Scale Business

Given it’s strategic advantage of location, Gov support, eco-systems and access to technology – why do TechCEOs in Singapore struggle to expand their business?

 

Here is a clue. It has nothing to do with what you are doing right now.

 

We find a lot of Singapore TechCEOs get stuck at $3-$4 million revenue mark. They linger there for a very long time. It has everything do with NOT having a clear revenue strategy and framework to process information and take decisions.

 

We have come across many Singapore mid sized tech firms who demonstrate excellent delivery, have an impressive customer retention rate, and has been in business for over 4 to 7 years. At the same time, when it comes to growing revenues consistently, TechCEOs struggle and always at logger head with marketing and sales teams causing discord and missed revenue goals.

 

Every tech firm needs a foundation to build on, figurative “pillars” that hold up the rest of the business and help you grow. By remembering your roots, though, it’s always easier to cut through those shiny distractions and keep your growth goals in mind.

 

Here we’ve listed the five pillars that every TechCEO should have in place in order to facilitate growth in your tech firm:

Challenge #1 – Understanding who you are and why you matter?

What are the reasons you started your tech business?

Read More