626: 3 Shifts Marketers Need to Make w/ Thad Kahlow

ABOUT THIS EPISODE

In this episode we talk to Thad Kahlow, CEO of BusinessOnLine.

LinkedIn: https://www.linkedin.com/in/thadkahlow/

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 guests on your show and start reaping thebenefits of having a network full of industry influencers? Learn more at sweet fishMediacom. You're listening to the B tob growth show, a podcast dedicated tohelping be to be executives achieve explosive growth. What you're looking for techniques and strategiesor tools and resources? You've come to the right place. I'm JonathanGreen and I'm James Carberry. Let's get it into the show. Welcome backto the BB growth show. We are here today with that Kalo. Heis the CEO of business online. That how you doing today? Doing fantastic. Thanks for having me, James. I'm really excited to chat with youtoday that we're going to be talking about revenue marketing and really we're going tobe talking about three shifts that marketers need...

...to be thinking about. If theyhaven't already made those shifts, they need to start. But before we diveinto deep on what those three shifts are, I'd love for you to just givea little bit of context to our listeners. What is business online about? What are you, you and your team up show over there? Yeah, sure, and I'm super excited to talk about, you know, thetopic of Revenue Marketing. It's near and dear to my heart. But realquick, we are business online. We are performance driven. Be To bedigital marketing agency helping our clients been market enterprise, to drive demand and ultimatelymeasure their impact to pipeline and revenue, or business impact if you will.So I'm excited to be here today, James. I love it so that, at a high level and before we get into these these three shifts,it's really kind of the overarching theme, based on what we talked about rightbefore hitting record, was making this shift to marketing that actually makes an impact. So can you just talk a little bit conceptually about how you think aboutthis before we dive into those three specific...

...shifts? Yeah, and I thinkthis is super important, and so we're all aligned around you know where we'retrying to drive. You know the business if you will, and I thinktraditionally most be tob marketers have been in a support role, right. Theysupport sales, to create collaterals of the sale, to conclose a business.They support products, so they can, you know, build out the marketingmaterial, help espouse the values and virtues of the technology or the services aredelivering. And, frankly, they support, you know, finance to a degreeright as the finance team. It's helping to understand how they're driving marginthrough all these areas of the business in each one of those functions, sales, product and finance has a direct impact from business and therefore their respect andbudgets. You know, can you to grow within the BB world, ifyou will, but with this massive to tonic shift in the BB buyers journey, marketing has never been more important. The big issue, in the bigchallenge is the fact that we can't prove our value to the business and thegood news is, with some changing changes...

...in our behavior and approach, wecan actually right now here today, begin to make that shift and show marketingsimpact to pipeline and, frankly, all the way through the close one business. And that is the big opportunity on the table today. I love it. And so this first shift that we're going to talk about, that ashift from technology to technology gists. Can you unpact what that means for USsure you know. I think if you look at the past three to fiveyears, a lot, a lot of money has been spent on marketing technology. Right. We're spending money on our analyogs platforms and BI pools, we'respending money on our marketing automation platforms like El Quote, Marquetta or up spot, and we're spending some big dollars in Crm, right, getting the entireorganization to to launch and adopt, you know, things like sales force orMicrosoft on that dynamics. And on top of that, we're spending a lotof money in Ad Tech, right, you know, as much as weare shifting some of our traditional media spends from print and trade shows to thedigital world. You know, we're going to the Linkedins of the world,which is, by the way, one...

...of the largest unpapped advertising sources frombdb perspective. Can talk about that in a moment. It to the youknow, to the facebook's, to the googles of the world. But thechallenges. We spend all these dollars on all of this Ad Tech, inthis marketing technology, but we haven't been able to tap into the true promise, the true the true value of this technology. And I think the biggestfundamental ships I see that needs to happen in the market place today is understandingthe stewards or the technologists who are able to crack open, you know,your analytics technology, you're marketing automation technology in your skerm and, frankly,plumb them all together so they can have a better understanding of the very firstadvertisement that you launched in market all the way through to sale. And Idon't care if that happens over sixteen month or thirty six month process with youknow, three decision makers are thirteen decision makers if you do that well.You have folks who are good at that and I can tell you what thatlooks like in a second. They can help to demistify this notion of attributionand help to have helped to paint the...

...picture in terms of how marketings impactingpipeline, qualified pipeline and how that's pulled through all the way to close oneopportunity. And so so, going back to what you know, you hadjust alluded to, how do you go about finding somebody like that that?Yeah, you know, it's a it's a hot, hot market for anyonethat has three types of skills that's we think about. That are, youknow, technologists and the data plumbing world, if you will. Number One,are folks who are good like their data developers, folks who are goodwith structure and unstructured data. Number two, their marketing technologies, their native salesforce, you know, administration of users, their Marquettos sortified, eloquacertified and last but not least, they're good with math and statistics. Andso it's usually what we find is like, is those three types of skill setsin individuals. There's very few folks that are good at all three.So I you know, that's the first thing. A lot of us arehunting for UNICORNS. We need to stop the hunting for UNICORNS and understand thatyou're going to need folks with different,...

...diverse skill sets that can bring together, you know, frankly, a team that is competent to help you,you know, drive impact revenue. And then from there you've got to havea value proposition that resonates with them and, frankly, at the ends of theday, you have to be an organization, to my opinion, toattract the right talent, to attract good talents that believes in making data drivendecisions. I don't think anyone worth their salts going to step into a largeorganization that is, you know, the gees or honey walls of the world, or all the way down to start up, where the organization itself doesn'tbelieve in making data driven decisions because they know ultimately their function within the organizationis powerful, is important because they're supporting that ethos, if you will.So that's another critical piece. And then get ready to pay some dollars,because every year they become more expend of and are harder to find. Okay, so this next shift that we're going to talk about, that is ashift to meaningful metrics. What do you mean when you when you say that? Yeah, and I think this is another piece that is is missed aswell. We talked about measurement, we...

...talked about making data driven decisions,but most of us, specially in the bdb world, the overwhelming majority,I think it's over seventy or eighty percent, was a stat that I pulled fromGardner recently. But are making decisions based on what I called Vanity metrics, which are really metrics that, while we want to see are heading inthe right direction, like traffic click through a cost per impression, even costper leads aren't necessarily valuable to anyone up the food chain. So while weneed to know these as stewards of the marketing function, if you will,and we need to know that, you know we're building momentum in the rightdirection and we're impacting these metrics, so they should be measured. Ultimately,the focus of the organization when we want to actually grow respect and budget resources, which is the right thing to be doing because we have such a greaterimpact on opportunities for new revenue. Retention, needs to be around what the businesscares about, which is pipeline generation and sales. And so as wemove from vanity metrics to value based metrics...

...like cost per marketing qualifies lead costfor sales, acceptedly cost for closed one and understanding marketing engagements right, theirlevel of de livery in those opportunities is critical. And if we can findthat out and if we can de mystify that at the individual customer level,right at an account level and understand that the roles that start surface within thataccount, we can then aggregate that over multiple counts and get to some statisticallyrelevant insights to help us drive more effective marketing. But the big challenge ismost of us are not able to effectively measure value based metrics like cost perqualified leader, cost per closed one and and is that because they don't havethe technologists in place that need to be there to be able to figure thatout? I think that's fundamentally it. Almost the majority of the mid marketenterprise clients we work with all have a technology stacks and they all, youknow, are beginning to dabble into predictive analytics, which can be incredibly powerful. You know they're all dabbling in ABM...

...right now in the beginning to investmore in platforms around ABM and media around ABM. But at the end ofthe day, the biggest fundamental myth I believe the majority of those marketers outthere are missing is the fact that they haven't plum their systems together. Theyhaven't done the hard work and scrubbing and cleansing and correlating and connecting that dataso at the end of the day they can produce active reports on demand andthen Beca can begin to ask what I call ndimensional questions of that data withinthis campaign, over this timeframe, with this piece of content and with thisor role. We're going after what happened in why and what happened and whatcan happen next. So that's where the true power of data German decisions islocked up. Within most organizations, the reporting at a google analytics maybe they'repulling in a Bi pool, but it's at a very surface and vanity levelperspective. We need to drill deeper into this data that's connected so we canask really good business questions and, frankly, get back to showing the value thatmarketing is producing to the organization.

It makes perfect sense. This lastshift that that we're going to talk about and I think you alluded to itjust now, but it's a shift to meaningful campaigns. Talk to us aboutthis one before I let you go today. Yeah, I think the last piecehere is, you know, a lot of us are focusing on optimizingwithin a particular channel or launching, you know, branded campaigns in terms ofwhat we want our customers a know about it. You know, managing paidso to search, managing paid social, you know, launching a branded campaignfor awareness. But I think the real value in the marketing efforts that wewould deliver into organization need to focus on the customer and need to focus onthe customer throughout the buying journey. So when we think about when we thinkabout this, we think about we call the three sees, the customer,of the content in the connection. Number One, who are the key decisionmakers and influencers throughout the buyers journey, right from the very first at allthe way through the purses? Number two, what content do they need throughout thatbuyer's journey? And you know, early up front, of be morethought leadership so you're gaining trust and buy in and as you move deeper intothe funnel it's more about reducing risk right...

...through taste studies and testimonial and then, last when at least, what channels are most effective of getting that experience, that content, in front of that customer in the most effective way?But planning throughout the buying journey as it relates to, you know, sellinga particular product or service as it relates to a specific account or individuals ofthose within those accounts, needs to be thought all the way through as opposedto just optimizing at a channel level. If that makes any sense, itabsolutely does. If there's somebody listening to this that they want to dig deeperon it with you or they just want to stay connected with you to seemore of the stuff that you're putting out. Like there's so much meat here towhat you're saying. I definitely want people to stay connected. How dothey stay connected with you? And then how do they stay connected with businessonline? Yeah, absolutely. So you can visit our website at Business Olcom, or our sister company, which focuses solely on the plumbing and connection ofmarketing technology and adtect to produce meaningful reports...

...and insights, which is data,welld Data Weld dotnet. You can also follow me on twitter at t KaloKahlow, or you can e mail me anytime bad dot Taylo at business.So welcom and I'd be happy to answer questions, get your resources, whitepapers, whatever necessary to make you more effective in your role as a marketerwithin within a BTB organization. Well, that with that, thank you somuch for your time today. This has been incredible, so I really appreciateit. My pleasure. There are lots of ways to build a community andwe've chosen to build the BEDB growth community through this podcast. But because ofthe way podcasts work, it's really hard to engage with our listeners, andwithout engagement it's tough to build a great community. So here's what we've decidedto do. We're organizing small dinners across...

...the country with our listeners and guests. No sales pitches, no agenda, just great conversations with likeminded people.Will Talk Business, will talk family, will talk goals and dreams, willbuild friendships. So if you'd like to be a part of a BEDB growthdinner in a sitting near you, go to be tob growth dinnerscom. That'sbe toob growth dinnerscom. Thank you so much for listening. Until next time.

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