548: 3 Things You Need to Know Before Buying More Technology w/ Samantha Stone

ABOUT THIS EPISODE

In this episode we talk to Samantha Stone, Founder of Marketing Advisory Network & Author of Unleash Possible.

Wouldn't it be nice to have severalthought: Leaders in your industry know and Love Your brand start a podcast,invite your industries thought leaders to be guess on your show and startreaping the benefits of having a network full of industry. influencerslearn more at sweetfish media DOTCOM, you're. Listening to the B Tob Grothshow podcast dedicated to helping B to B executives, acheaf explosive grown,whether you're looking for techniques and strategies, tools and resources.You've come to the right place. I'm Jonathan Green, I'm James Carburry.Let's get it into the show weare here today at the BTO, bemarketing for'em in Boston and I'm talking to Samanthas stone, she's thefounder of the marketing advisery networks, Ma how yo're doing excellentso glad we're connecting in Harrison at ime. I see so much online, and so it'sfantastic to to Cdang out with you here...

...today. So your talk is on Friday and wewere just talking a little bit before before I hat record about what your talk's going to be, andit's really around. How do we choose the marketingtechnology? That's really going to have an impact on on revenue and you'v. you've got somereally interesting ideas on this, but talk to us a little bit about b. Why isthis something that we're not doing correctly? Currently, it's such animportant point, because increasingly we have you know somewhere between tenand thirty percent of our budgets are spent on technology today in marketing.It didn't use to be that way, but we were investing a lot of money and a lotof people into technology and we're doing it wrong and I know we'redoing it wrong, because if you look at the data it shows owe're'r only usingabout three percent of the technology we've already balked, so not thetechnology we could have places. We have already spent money. We are justusing very very little of what we've...

...already licensed, and so that tells mesomething is really really broken, and I see that from the data, and I see itatidotally when I talk to clients as well. When we go in, I was teaching asocial media workshop a couple of months ago and in preparation for thatI spoke to the people, who would be our students and we pulled them and weasked them a whole bunch of questions, one of which is what tools were usedcame back. Um was about to walk in the session and the person who had broughtus in pulled me and said. As I want you to know, we have licenses to thissocial media tool and I said, but nobody knows that 'rnot use t caus. Iknow she says we don't even know how to log in our company has bought it, andour group has no idea hadlog in let alone actually use. I frig it's crazy,but it's actually a very common challenge. They have a person bysomething they use it for their purpose. It never gets permeated through therest of the organization. We also have...

...wayste wher, we buy a product forparticular purpose and we use those one or two features that were our urgentneed and that tool has this rich capability and we just simply don't usemost of it: y Okay, so you're arso. Looking at data you're talking to a lotof your clients, you know we're doing it wrong. So how do we fix it? Y, it'sshockingly easy to fix, and that is we've got to remember, there's threethings that we forget to do right. So we forget that whenever we make asystem decision, there are a lot of dependencies about whether e there'sdata that has to come in the system. There's I t security protocols we haveto follow. There are systems that we have to send information to, and wesometimes forget about the complexity of the environment. This tool is goingto and we do it more and more often now, because there's all these cloud bassystems, they set you up in theory, you're up and running in fifteenminutes, but in reality, you're data and your other systems aren't talkingto each other. So we have to stop...

...forgetting that we also have to stopchasing Thi Shini new object. I the tool desors. I want artificialintelligence, so every technology out there is now saying: Well, we haveartificial intelligence and, to a certain extent, that might be true, butit we don't need to chase artificial intelligence. What we need to caste isa business problem. We're trying to solve and the way to really get around.All of these obstacles is for us to take a step back and think about whatare we trying to do not whatchase the technology? That's right down. What isthe business outcome we're trying to address here the opportunity we want togo after, let's bring together across functional group of people, and let'sstart there, then, from that being defined with a pretty rigid processwego out, and we say: Ok, technology folks. This is what we're trying to do.showmaking, do it or not, and then we get to make an assessment about it and not forget to first start with whatwe already have oftentimes. We can...

...actually do something we we didn't know aboutsimply by changing the way we operate with an existing marketing, autinationtool or a crm system, or something else so is this. Is there an example? I meanI love that the the simplicity of Lstart with the problem, it's pretty thin, but you said thatyou'd mention there being you know a process for how do you identify theproblem that we're going to try to Tacklem? Can you talk to us a littlebit about what? What should that process? Look like yeah, absolutelyI'll, just give you a little bit of contact, so I was at a client and theybrought me in. They had spent Um eighteen months trying to solve a bigmarketing problem around data and they had been working with the IT team andthey were just completely frustrated. It was not building them the systemthey needed, they couldn't get off the ground. I T was frustrated B'cause they keptsaying. Marketing won't tell us what they need, and so I t actually came to me. Theyfound me through some um referrals and...

...talking to a bunch of people, and theysaid we need a translator between I t and marketing. Please help me translateand literally within two meetings. I was like here's your problem, I'm notmagical. I could take the steff back and I listened to what the businessproblem we were trying to sell this now in two weeks. This is a big, complexorganization. The project was not done, but we spent about six weeks doingrequirements gathering we put together a cross, functional group of peoplethat were made up of users made up of people who would consume output of thesystem, who may never log into it, and people who needed to put connections ordata into the system, and I observed the business environment where peoplewould be using that system hat. I sat side by side with those people andunderstood what they do and we went through a pretty rigorous productrequirements, prioritization process and we wrote down here's all the thingswe can possibly do. What's mandatory...

...what's optionalm and it's basic blockand tackling very similar to how our product management teams, designproducts and services they go through a very similar process. We have to dothat in a very structured way when we buy technologya and treat it like aproject and treat it like something that we want to have a defined outcome.To find time. Famin I Lov I N, and that example I was utill my next question. Iwas going to ask about an example of what of walking through this processlooks like, but that that makes perfect sense. If there's somebody listening tothis Samanthat, they want to stay connected with you or they wan to maybedive deeper on this. What's the best way for them to go Bo, doing thatabsolutely best way to reach me in Samantha Dot Stone at Marketing AdviserNetwork dotcome, they can also go to unleash possible com and there's linksto content and blogs where I've talked about this there's, probably a link ortwo in there around m a version of this presentation. I've done before m solots of ways to to learn more, and I...

...hope they do, because I think we m areinefficient and how we do this. Yet we're making big investments S it's atime for us to sort of change, our orientation of it and if you have notpurchased Samantha's book, unleast possible, make sure to go tounlystpossible dot com and get that falso on Amazon and WH. It is yet onAmazon, Kendal prints, nowi still like old school books of turning pages. Ican't help it. I love that I'm so is available there, O Awonr wo. Thank youso much man of taining to ensure that you never miss anepisode of the btbe growth show subscribe to the show in Itunes or yourfavorite pot gass player. This guarantees that every episode will getdelivered directly to your device. If you are someone you know would be anincredible guess for the be to be Groshel. Email me at Jonathan atsweetfish media dotcom. Let us know we love connecting, would be to beexecutives. We love sharing their wisdom and perspective with ouraudience. Thank you so much for...

...listening until next time.

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