508: The 5 Top Challenges Facing B2B Marketers in 2017 w/ Tukan Das

ABOUT THIS EPISODE

In this episode we talk to Tukan Das, CEO and Co-Founder at Leadsift.

Wouldn't it be nice to have several thought leaders in your industry know and Love Your brand? Start a podcast, invite your industries thought leaders to be guests on your show and start reaping the benefits of having a network full of industry influencers? Learn more at speet Phish Mediacom. You're listening to the B to be growth show, podcast dedicated to helping be to be executives achieve explosive growth. What you're looking for techniques and strategies or tools and resources? You've come to the right place. I'm Jonathan Green and I'm James Carberry. Let's get into the show. Welcome back to the be to be gross show. Today we are joined by to KONDS. He is the CEO and Co founder at lead sift, to gone. Welcome to the show. Thanks, Jonathan. It's a pleasure to have you on the show. We're going to be talking today about the top challenges of be tob marketers are facing in two thousand and seventeen. I can't believe we're already more than halfway through two thousand and seventeen. I have no idea where the where the time has gone, but lead shift has actually done some fantastic work. This is a survey that leads sift did themselves. But before we get into today's topic, maybe you can tell our listeners a little about what you and your team at lead sifter up to these days. Sure thing. So thanks for the opportunity on our then to be on the show. Super excited at a super high level. LEAD SIFT is a sales intelligence platform that helps other BB software companies identify target accounts and and prospects based on signals of intent and and just for providing some context for for the audience, is we actually build this product out of a frustration we had internally, at leat set, with our previous product when we were doing, I guess, outbound prospecting. So where we had a BEDR team who job us to do outbound prospecting based on sort of building a list based off...

...static buyer persona. So we said, you know, company size, industry, job title, let's go ahead, find a bunch of people, get their email address, phone number and then nurture them and book meetings, very standard to what everyone in the industry was doing. But what we realized was that just because someone had a job title at a target company did not necessarily mean they were interested in our business or in the buying journey at the moment and, as a result, they would never get back to us. So, so, just out of that frustration that we experienced off, you know, spraying and praying and hoping that someone will open the email and get back to us, that's when we decided to build leadsft, first for ourselves and then decided to scale it for other software companies and completely pivoted our business into that is, to help them identify, I guess, target accounts and and prospects to go after every day, not based on as photographic data, but actually based on signals of intent and interest. And the way we define a signal of intent in a bdb setting is based on how these prospects are engaging with their competitors, engaging with other complementary companies or engaging with relevant industry content across the web. So anytime we see someone talking to you a competitor or researching on something relevant to your business, we picked that up. We qualify that those people by seeing where they work, with their job dot lives, and if that's a match, we send them that information every day to follow up with them. Well, it's fantastic and I love the fact that you know it was. It was sort of born of a problem that you yourselves were experiencing and you created the solution. So you know, it's certainly solving a very real problem. Absolutely. Yeah, like we say, we are the biggest customers of our selves and we know it works for ourselves. So and that gives us a lot of confidence. So so, yeah, it's definitely a big problem. Well, it's fantastic and sort of as a result of sort of your success and the people that you are able to talk to through your business, you know, you actually have done this survey Sass marketers...

...and and you've actually you've sort of compiled this data around the top challenge is that be tob marketers are facing in two thousand and seventeen. So you know, so take it, take it away. What are we talking about today? Yeah, so what we the way we collected that this was very interesting. In our discovery call, we try to understand our prospects current process and one of the questions we specifically ask them is, you know, what's one of the top challenges that you are facing right now as a b do be sass marketer and and they all start saying, you know, different, different problems. There are few things that they and we collected this datea over interviewing about three hundred be to be fast marketers. Few things that that we learn from that process. The number one thing that we that marketers told us, was having top of the funnel leads is a number one priority for them is getting these top of the funnel lead so that there is so that their sales team can create and of sales opportunities from them. Was One of the top challenges for over twenty five percent of the people that we that we talked to. That was that was an interesting thing that we found. So that's one thing. And when they're talking about these sort of top of funnel leads, I mean was this a volume problem? Was a quality problem? And they did they clarify. I mean, of course it would be it would be fantastic to have more top of funnel leads, but you know, sometimes it doesn't if they're not qualified, you know, it still doesn't solve the problem. Absolutely. One of the things that we are seeing is market, both marketers and sales team and organizations in general are moving away from this whole notion of more more volume means better, better, better data. Whenever they mean top of the funnel or any of any stage of the funnel leads, the talking quality over volume. But even with with higher quality, they still expect, they still need more relevant leads at the top of the funnel. Obviously you cannot completely qualify them until you have a guess, a sales called with...

...them. But from a market is perspective they want to give the best quality lead to the salesperson which from which they will have them, the sales people can have a meaningful conversations with. Yeah, there is, like the main thing that we found out was no one cares about like. I don't think marketers care about having, you know, we got tenzero leads that we can send emails to our nurture into. No one cares about that. That metric doesn't matter at all. It is when they say top of the funnel, it's still top of the funnel, but relevant people and relevant organizations at there. They want to nurture and then hand it over to the sales team to to further qualify these people. And you say yeah, and I was and you said that was over twenty five percent of that's every marker so that was their number one concerns. Number one concern, yeah, what were and what were some of the other concerns? was some of the other problems that they're facing in two thousand and seventeen. So one of the things that we are starting to see in the whole industry is talking about this whole account based marketing strategy. So over a significant fraction of people talked about that. They're starting to implement account based marketing. MM. Again, account based marketing might meet a lot of things, but at a super high level it's basically identifying a list of target accounts to go after and then, and then only focusing on those accounts from a variety of different sources, sales, marketing relationships and all those things. ADDS, emails, social selling, phone calls, things like that. That was one of the big challenges for them and specifically without account based marketing, one of the things they wanted to figure out is a to come up with the right accounts to go after in their account based marketing model. Typically it's still a combination of, you know, sales people saying hey, within my territory, these are the companies that I think I care about, and then marketing vets it and then decides to go after them and come up comes up with a strategy. So one is coming up with the right accounts to go after. Second is, once they have identified or sort of shortlisted the target accounts, is getting intelligence within these accounts to basically use that...

...as a trigger, because just because you have a hundred good companies that you've decided to go after doesn't mean that you know, you still need a hook to approach them right and angle. So that's why they want more intelligence into those named accounts. So that was that was another challenge that they talked about. Yeah, and on looking at the list that you were able to share with me ahead of time, and it's not even just finding me the right accounts and gathering information on those account ounce but also, you had said, finding even the right decisionmaker within these larger organizations is also a challenge. Hundred percent, and I'll give you a real example. So let's say you are going after a company like uniliver or someone massive like Pepsi or something, and if if you say, Hey, we only want to talk to folks within Pepsi and I know we sell into the marketing department, I'll bet you there's probably five hundred people in Pepsi that are that are in senior marketing roles and you know, take any fortune, five hundred companies. Now now that becomes very challenging because how do you know who to reach out to for your specific product and when and with what angle? You can find some information about linkedin from linkedin and different sources, but but that becomes a big challenge because just knowing that I'm going after, I want to go after marketing people within a large nation, is you're setting up yourself up with for an account based strategy or any kind of Strateu you really need to know who to reach out to within the organization and that's a challenge these these people mention. In addition to that, there's something interesting that they tell tell us about is, so, let's say, they broadly define their buyer persona. They say, you know, we typically sell to marketing. Sometimes what they when they're using a system like our, sort for it in any other intelligence source. Sometimes they find one classic example I remember was there bier persona was, I believe, more on the creative side of people. They were targeting creative directors and folks like...

...that within organizations. But what they found out was the people that were engaging with relevant industry content and their competitors. We're actually folks, senior folks, from product team, not so much creative team. That was a very interesting insight for them to say, you know, I know this company is a fit, but it's actually not the creative guides, it's actually the product people, or maybe it's both. So that figuring out which department to go off and who to reach out to within the department is is is still a challenge for companies, specifically if they're going after larger accounts. Yep, yeah, that's a problem we've seen even firsthand in our own business. Is like you're speaking to a pain point that I myself have experienced. So I know that other marketers have also experienced that same problem. Yeah, absolutely. And so what about this idea of competitive intelligence? Yeah, so one of the things that when we talk to customers, one of the things they say is based on, I mean, all companies. They are always, you know, worried about losing out to a competitive deal, right, they're always worried about that's that's that's something that they're always paranored about not missing out, of missing losing out to a deal. But what's a bigger problem for them, though, they have said, is a lot of the times they wouldn't even know that a competitor is is talking to a customer, because in there what they tell us is, you know, if they could be during that buying consideration phase with their competitor, they might have a better feature, said better better price point or what better solution overall, that they could win over that deal. But a lot of the times they are not even aware that, you know, the client is in a buying mode and it's talking to a competitor. Obviously they don't like losing out a deal, but what they fear more is not even knowing that there was a deal and they could have taken part in it. So that's a big concern for them. They're like we win all our competitive deals, or majority of them, so if we cannot be in front of a customer who's looking to buy and talking to a competitor, is a big loss for them. So that's that's the I guess, fear of missing out on competitive deals. Yeah, yeah, and how about this,...

...this fifth challenge I'm talking about, you know, actually measuring marketers and their impact. I think this is a big high level item in general. It is what the industry is going. So previously, marketers, we're not always accountable for revenue or the return on investment. They were like, all right, marketings function is to increase brandown as, more website traffic and people finning out the form. It really doesn't matter how many of them contributed to sales, because another day it was sort of the sales as priority. Now what we're seeing is a lot of marketers are saying every action, every dollar that we're spending, needs to be tied into an Roy that would be, you know, measured by some hard metrics, not some soft numbers by saying, A, we increased website traffic by fifty percent or we increase our social following by K followers. Yeah, but as we are we put together a very, you know, beautiful campaign. There you go, or we went, we attended an event. Great, I mean, do all of those things, but they're are the things that they're. They're the higher level management is saying is spend, you have a fixed budget, you spend it, but they needs to be tied into an impact on sales. That are the bottom line. That's a general trend. That we are seeing, I would say them, the ABM strategies, generating top of the final leads and all those things. Those are manifestations off that priority being put into. The marketers is saying it needs to be tied into some they need to show that it's working. Yeah, it's contributing sales. That's a challenge that customers, some some marketers pointed out. Yeah, level of accountability. where? What do you mean? What do you mean? I have to I have to show actual results. Now, I know I'm marketing, you don't understand. Sorry about yeah, yeah, but but one interesting thing that I found out was the marketers, all of them, they were not scared of that in the sense they were not they were not worried that they have to do that. They, at least to the ones that we spoke to, the attitude that they had was this was a challenge and this is they like, this is...

...part of the job, like they have to do that and they're taking up that challenge in a very positive way and that's why they're coming up with the optimal strategies, getting an edge on anything they can. But they are not they're not freaking out. I mean there might be some old school markets who are not used to this. But majority of these people that be spoke to her are pretty savvy and they are not they're not scared of that fact. They're actually looking forward to that. We well, it's good to know. So to Conda, this has been some incredible, you know, insight into the into the challenges that are facing all marketers. I mean I think every single one of these our listeners are listening and thinking, yeah, I've experienced that, I have a problem with that. So certainly is this seems right on the money. Now, if any of our listeners are interested in following up with you, you know, learning a little bit more about these problems or even potential solutions that you know, I'm sure you know the kind of go handinhand for every problem there is someone is out there creating a solution to help ease that pain point. So if anyone is interested in following up with you learning more about leadshift, what's the best way for them to go about doing that? The best way would be just go to leads Ofcom. There's a simple form for for you guys to fill out. Would basically the way we work with all our customers says we lead with the data. So they basically fill out a form with the list some of their competitors and based on that, we actually when we have the first call with them, we do the discovery called and then show them some sample leads for them to take a look at it and say, Hey, these are some accounts that you know would are showing intent by talking to way competitors, so I probably want to get in front of them. So that would the best way to reach out. Like go to the website. There is some lot of content. Fill out the form, someone will get in touch with you within twenty four hours and have a chat. That's one. The other is you can find me on Linkedin or you can send me any of your audience. Feel free to send me an email at t doss at leadsfcom. It's TDAS at letes Ofcom.

I'll be more than happy to answer any questions and it just just share some best practice it. So we work with over hundred companies in the B tob software space and we are learning some amazing tactics and strategies they're using more than happy to share with the rest of the audience. That's fantastic to gone. Thank you so much again for your time today. It was a pleasure having you on the show. Thank you, Jonathan. Every great day. To ensure that you never miss an episode of the B Tob Growth Show, subscribe to the show and Itunes or your favorite podcast player. This guarantees that every episode will get delivered directly to your device. If you or someone you know would be an incredible guest for the B tob growth show, email me at Jonathan at sweet fish Mediacom. Let us know. We love connecting with B to be executives and we love sharing their wisdom and perspective with our audience. Thank you so much for listening. Until next time,.

In-Stream Audio Search

NEW

Search across all episodes within this podcast

Episodes (1776)