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 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 sweet fish Mediacom. You're listening to the B tob growth show, a 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 it into the show. Welcome back to the BB growth show. We are here today with that Kalo. He is the CEO of business online. That how you doing today? Doing fantastic. Thanks for having me, James. I'm really excited to chat with you today that we're going to be talking about revenue marketing and really we're going to be talking about three shifts that marketers need...

...to be thinking about. If they haven't already made those shifts, they need to start. But before we dive into deep on what those three shifts are, I'd love for you to just give a 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, the topic of Revenue Marketing. It's near and dear to my heart. But real quick, we are business online. We are performance driven. Be To be digital marketing agency helping our clients been market enterprise, to drive demand and ultimately measure 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 right before 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 about this before we dive into those three specific...

...shifts? Yeah, and I think this is super important, and so we're all aligned around you know where we're trying to drive. You know the business if you will, and I think traditionally most be tob marketers have been in a support role, right. They support sales, to create collaterals of the sale, to conclose a business. They support products, so they can, you know, build out the marketing material, help espouse the values and virtues of the technology or the services are delivering. And, frankly, they support, you know, finance to a degree right as the finance team. It's helping to understand how they're driving margin through 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 and budgets. You know, can you to grow within the BB world, if you will, but with this massive to tonic shift in the BB buyers journey, marketing has never been more important. The big issue, in the big challenge is the fact that we can't prove our value to the business and the good news is, with some changing changes...

...in our behavior and approach, we can actually right now here today, begin to make that shift and show marketings impact 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 a shift from technology to technology gists. Can you unpact what that means for US sure you know. I think if you look at the past three to five years, 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're spending 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 entire organization to to launch and adopt, you know, things like sales force or Microsoft on that dynamics. And on top of that, we're spending a lot of money in Ad Tech, right, you know, as much as we are shifting some of our traditional media spends from print and trade shows to the digital world. You know, we're going to the Linkedins of the world, which is, by the way, one...

...of the largest unpapped advertising sources from bdb perspective. Can talk about that in a moment. It to the you know, to the facebook's, to the googles of the world. But the challenges. We spend all these dollars on all of this Ad Tech, in this 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 biggest fundamental ships I see that needs to happen in the market place today is understanding the 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 first advertisement that you launched in market all the way through to sale. And I don't care if that happens over sixteen month or thirty six month process with you know, 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 that looks like in a second. They can help to demistify this notion of attribution and help to have helped to paint the...

...picture in terms of how marketings impacting pipeline, qualified pipeline and how that's pulled through all the way to close one opportunity. And so so, going back to what you know, you had just 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 anyone that has three types of skills that's we think about. That are, you know, technologists and the data plumbing world, if you will. Number One, are folks who are good like their data developers, folks who are good with structure and unstructured data. Number two, their marketing technologies, their native sales force, you know, administration of users, their Marquettos sortified, eloqua certified and last but not least, they're good with math and statistics. And so it's usually what we find is like, is those three types of skill sets in 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 are hunting for UNICORNS. We need to stop the hunting for UNICORNS and understand that you'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 have a value proposition that resonates with them and, frankly, at the ends of the day, you have to be an organization, to my opinion, to attract the right talent, to attract good talents that believes in making data driven decisions. I don't think anyone worth their salts going to step into a large organization 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't believe in making data driven decisions because they know ultimately their function within the organization is 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 a shift 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 as well. 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 from Gardner recently. But are making decisions based on what I called Vanity metrics, which are really metrics that, while we want to see are heading in the right direction, like traffic click through a cost per impression, even cost per leads aren't necessarily valuable to anyone up the food chain. So while we need 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 right direction 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 greater impact on opportunities for new revenue. Retention, needs to be around what the business cares about, which is pipeline generation and sales. And so as we move from vanity metrics to value based metrics...

...like cost per marketing qualifies lead cost for sales, acceptedly cost for closed one and understanding marketing engagements right, their level of de livery in those opportunities is critical. And if we can find that 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 that account, we can then aggregate that over multiple counts and get to some statistically relevant insights to help us drive more effective marketing. But the big challenge is most of us are not able to effectively measure value based metrics like cost per qualified leader, cost per closed one and and is that because they don't have the technologists in place that need to be there to be able to figure that out? I think that's fundamentally it. Almost the majority of the mid market enterprise clients we work with all have a technology stacks and they all, you know, 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 invest more in platforms around ABM and media around ABM. But at the end of the day, the biggest fundamental myth I believe the majority of those marketers out there are missing is the fact that they haven't plum their systems together. They haven't done the hard work and scrubbing and cleansing and correlating and connecting that data so at the end of the day they can produce active reports on demand and then Beca can begin to ask what I call ndimensional questions of that data within this campaign, over this timeframe, with this piece of content and with this or role. We're going after what happened in why and what happened and what can happen next. So that's where the true power of data German decisions is locked up. Within most organizations, the reporting at a google analytics maybe they're pulling in a Bi pool, but it's at a very surface and vanity level perspective. We need to drill deeper into this data that's connected so we can ask really good business questions and, frankly, get back to showing the value that marketing is producing to the organization.

It makes perfect sense. This last shift that that we're going to talk about and I think you alluded to it just now, but it's a shift to meaningful campaigns. Talk to us about this one before I let you go today. Yeah, I think the last piece here is, you know, a lot of us are focusing on optimizing within a particular channel or launching, you know, branded campaigns in terms of what we want our customers a know about it. You know, managing paid so to search, managing paid social, you know, launching a branded campaign for awareness. But I think the real value in the marketing efforts that we would deliver into organization need to focus on the customer and need to focus on the customer throughout the buying journey. So when we think about when we think about this, we think about we call the three sees, the customer, of the content in the connection. Number One, who are the key decision makers and influencers throughout the buyers journey, right from the very first at all the way through the purses? Number two, what content do they need throughout that buyer's journey? And you know, early up front, of be more thought leadership so you're gaining trust and buy in and as you move deeper into the 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, selling a particular product or service as it relates to a specific account or individuals of those within those accounts, needs to be thought all the way through as opposed to just optimizing at a channel level. If that makes any sense, it absolutely does. If there's somebody listening to this that they want to dig deeper on it with you or they just want to stay connected with you to see more of the stuff that you're putting out. Like there's so much meat here to what you're saying. I definitely want people to stay connected. How do they stay connected with you? And then how do they stay connected with business online? Yeah, absolutely. So you can visit our website at Business Olcom, or our sister company, which focuses solely on the plumbing and connection of marketing 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 Kalo Kahlow, 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, white papers, whatever necessary to make you more effective in your role as a marketer within within a BTB organization. Well, that with that, thank you so much for your time today. This has been incredible, so I really appreciate it. My pleasure. There are lots of ways to build a community and we've chosen to build the BEDB growth community through this podcast. But because of the way podcasts work, it's really hard to engage with our listeners, and without engagement it's tough to build a great community. So here's what we've decided to 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, will build friendships. So if you'd like to be a part of a BEDB growth dinner in a sitting near you, go to be tob growth dinnerscom. That's be toob growth dinnerscom. Thank you so much for listening. Until next time.

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