794: The Key Components of a Revenue Acceleration Framework w/ Justin Gray

ABOUT THIS EPISODE

In this episode we talk to Justin Gray, Founder & CEO of LeadMD.


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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 phish MEDIACOM. You're listening to be tob growth, a daily podcast for B TOB leaders. We've interviewed names you've probably heard before, like Gary Vander truck and Simon Senek, but you've probably never heard from the majority of our guests. That's because the bulk of our interviews aren't with professional speakers and authors. Most of our guests are in the trenches leading sales and marketing teams. They're implementing strategy, they're experimenting with tactics, they're building the fastest growing BTB companies in the world. My name is James Carberry. I'm the founder of sweet fish media, a podcast agency for BB brands, and I'm also one of the cohosts of this show. When we're not interviewing sales and marketing leaders, you'll hear stories from behind the scenes of our own business. Will share the ups and downs of our journey as we attempt to take over the world. Just getting well? Maybe let's get into the show. Welcome back to the BEDB growth show. We're here today with Justin Gray. He is the founder and CEO at lead MD. Justin. How you doing today, man? Oh, not too bad. Thanks for having me. All right. Well, it's a pleasure to have you justin. You and I got a chance to connect briefly here a few weeks ago at the time of this recording the flip my funnel conference. So I'm really glad you and I are getting a chance to connect again on this episode. For folks that haven't had a chance to meet you aren't familiar with you in the team at lead M D, I'd love for you to take a second to share with the audience what you and the team are up to these days. Sure. Yeah. So, lead MD is what we call a modern marketing firm, which essentially means that we span all the fundamental areas of marketing, everything from strategy to planning to tactic development and then, of course, translating...

...those those fundamental areas into technology for the sake of scale, and then bringing and activating teams into that process. So on. Education want of training and even some staff augmentation. So Front to back everything around running a modern day marketing team awesome. Well, Justin let's jump right in. We wanted to talk today about this revenue acceleration framework. That's Keya in your methodology and I think it has some very tactical things for our audience. So let's just start with you know what exactly is a revenue acceleration framework? Yeah, so, of course the last thing everyone needs is another framework that's on the shelf and is an actionable so because we have such strong routes within Martech and really ensuring that after we walk an organization through a go to market strategy engagement, that we actually house that but that process in something that's going to help them scale, help them operationalize and ultimately help them achieve their goal. So everything about this framework is really defining. What is it? What of the critical focus areas, as we call them, to Modern Day marketing, and what are those interdependencies? So how do we help an organization really define their go to market strategy, what works best for their business, and then what are the necessary decisions and research and just buy our understanding that we're going to need to determine and develop, define in order to implement Modern Day marketing technology, which of which there's there's certainly no shortage, you know, sixty three hundred plus platforms, a lot of technology, not a lot of not a lot of for thought going into a lot of those purchases, and so we really hope to reduce that and reverse that trend using this framework. Yeah, how important is it for you, as you help clients, you know, think about the steps in this methodology, from process to technology to talent, you know, if you're looking at it vertically, to take those in the right order?...

I think people want to jump to that, that middle point of the technology a lot right. Sure, yeah, and I'm not going to be Utopian and say that, you know, we are always able to go in that particular order. But I think the framework allows us to explain the necessary inputs that are going to drive success within technology and certainly team, team creation and activation. So if some of those points have not been well defined and there's not good clarity on the client side, at least at that point we can we can pause, we can take a step back and we can help them define those critical inputs. So at the very least it becomes that conversation starter and and that's what often what we find is just, Oh, maybe we do need to do some better definition around, you know, our buyers journey or buyer persona and account profiles, and this this is a good epitus to kind of put the brakes on a little bit, take a step back and provide that definition. Yeah, in your opinion, you know agencies or marketing departments that have taken a different approach and maybe have kind of blurred the lines between strategy planning and tactics. How does this approach kind of unmuddy the waters in and help take a different approach? And what's really different about it, I guess, is what I'd like you to share a little bit with the audience, Justin Yeah, so I think what's interesting about this framework is we have an assessment that rides on top of this and because we've worked with, you know, over Threezero Modern Day organizations and we bench mark them against the framework, we've been able to understand the inputs and outputs and what organizations look like at different runs of maturity. And so, you know, based on what they have done really well and probably where the gaps lie, we can map them to marketings influence in the entire organization. What are they seeing from a marketing Roy perspective? And we translate those into customer acquisition cost because of a lifetime value, and then just overall marketing contribution to revenue. And then the really impactful aspect of this is being able to map a clear,...

...you know, that clear Road Map to the next rung of a charity. That comes with an inherent bump in efficiency around those three dimensions. So if you want to be able to source more revenue, you want to be able to reduce that customer acquisition cost increase lifetime value. Here's the next steps that we need to perform, because other best and class organizations have proven these are the necessary inputs to create that success. So Pretty, pretty impactful when you start to look at just the volume of data that we have behind this thing. Yeah, Nice. I'm always a fan of leveraging data for for next step. So you know, for folks that maybe you know, let's say you know brand has as kind of approached this all wrong and really blurred these lines in the past, you know, and they're starting from scratch and starting with a framework like this. What are some of those next steps that that they could expect to start taking. We're always focused on the buyer. So you know, who do you sell to? What's that buying process look like? What's your average deal size? How are you forming and activating your teams to support that? That customer buying an education process, and until we've got a really solid answer around those questions, we're not going to be as effective. Moving on to the the other errors of the framework, so that that's really where we try to focus our customers and again put the brakes on, focus on some of those really important foundational leading indicators and make a case for how strongly that's going to impact the output of any Modern Day marketing department. So if we don't know the buyer, it's really difficult to understand what go to market strategy is going to be right. You know, the messaging, the content of the the just overall buyers journey and how we map that into technology. That all starts with fundamentally understanding how people purchase from us. Today's gross story revolves around search engine marketing. Delphis, a big data platform, had hired an agency to manage their Google adds a few years ago, but they weren't seeing the results they wanted to see. Being such a technical be tob solution, they set out to find a team that could take on their...

...challenge. After countless proposals, they found the perfect fit directive consulting the B Tob Search Marketing Agency. And just one week after launching directives campaigns, Delphi saw their lead volume double and their costper lead drop by sixty percent. I have a hunch that directive can get these kind of results for you too, so head over to directive consult teamcom and request a totally free custom proposal. That's directive consultingcom. All right, let's get back to this interview. Yeah, I mean you've got to reverse engineer it otherwise here really, you know, you don't have a road map that's leading to anywhere clear. You know, as you start to, you know, work through a framework like this justin what would you say is the role of marketing and leadership as it starts to get a little more clear, to see things through to result? So, you know, help me understand those, those roles a little bit more as people start to adopt and implement this strategy a little bit further down the road, I guess. Well, the most important aspect of any executive team or marketing executive is really doing sure that you've got solid benchmarks. So let's say that we've we feel like we've defined our buyer fairly well. We've got a process, a joint sales and marketing process, that we know how we're going to go to market, how we're going to sell the these folks, how they're going to move through the buying process. We've got some technology stood up. We feel like we've got a pretty solid team in place. The best thing that we can possibly do at that point is benchmark the results that were driving and then, ultimately, if we're as we evaluate those benchmarks, we're going to uncover certain areas of the buying process, the sales and marketing process, that are less efficient than we'd like them to be, whether that's top, mid, late funnel, you know, someone always has a pretty glaring portion of that process that is underperforming. And so at that point we can really drill in and it start to understand what are the leading indicators that...

...we need to reevaluate, what are the parts in our process that are weak, where we can really focus on improvement. And then, once we make those incremental improvements. Again we're going to be benchmarking. So, you know, marketing is largely an optimization motion. But a lot of you know marketers are old school exact view. It is kind of like a windfall, like we're going to launch this campaign and we're going to see these massive results. Like marketing rarely functions in that that manner. Moreover, it's normally an optimization process where again, we've got good measurement at each step of the the buying process and we're taking a really hard look at what is either driving success or what are is do we need to improve on, making those incremental improvements and again benchmarking those results. Tell me a little bit more about the the talent portion of this. You know, I think we talk a lot in marketing about, you know, process and obviously technology. A lot of folks that we talked to on this show are in the MARTEX space, so that portion of this framework is he's talked about quite a bit. But understanding, like you know, like you said, you start with an assessment, you benchmark where you're going. Tell us a little bit about what you guys see in the talent area of that framework ongoing. Again, you know something that isn't just a set and forget it sort of thing. You're ongoing, you know, optimizing. But I think in this area of talent, as your organization moves forward and over years it takes it takes a lot of thought, probably the most thought in that area. I don't want to, you know, harp on the importance of that too much, but I have to think that, you know, that has to be a big indicator of whether, you know, teams get it right in the long run, whether how they handle that, that talent piece of it on the back end right. Yeah, unfortunately, I would say that that's the the most consistent area of neglect that we see within within a marketing department. And and you think about marketing, it's a discipline that really has very few indicators of expertise, very few certifications that are industry wide. That really mean, you know, if you were...

...go out and put a job at out, you would get, you know, obviously, thousands of resumes with thousands of different indicators of expertise and none of them would be consistent. You know, there's there's vender base sorts, there's, you know, of course, college degrees, there's, you know, micro certifications and programs that you can become certified in. Very few of those, you know, have that industry wide reliance or that or that trust. And so our clients often ask us if we have a million dollars, what should we spend it on based on what you guys are seeing, and I would say a good portion of that always has to be talent development. It has to be training, educating and just improving the overall maturity of your internal marketing team. Marketing changes very quickly. Seems like every other month there's some new trend or buzz worth that's coming out and you want a team that's made of folks that can analyze those trends, determine if they're going to be right for Your Business and apply them in a really intentional way. All too often marketers are just kind of chasing that Shiny Object Syndrome out there and we waste a lot of time and money going down a lot of paths that don't yield a tangible results, and so I think actually the biggest area of that drive success is is actually investing in educating the team and sourcing good talent. Yeah, I mean it sounds like we're in agreement there. You can underestimate the importance of the talent aspect of this framework. For folks listening to this Justin anything else you'd like to add on, just you know, how they can approach this framework and change their they're thinking from maybe a way that hasn't been successful for them in the past and and you know, take this and take some next steps moving forward. Yeah, I mean, like likes most things, sales and marketing, the approach here tends to be looked at through a marketing lands or a marketing sidelough and really this framework is meant to be an organizational framework. You know what are the strategic goals of the business, but what's important to us over the next four quarters and ensuring that marketing is...

...aligned to those goals, ensuring that that marketing and sales are going to market in a joint threaded motion, ensuring that the optics that were evaluating marketing are the same types of optics that are going to be impactful and meaningful to the sea suite of the or the board of directors. You know that arts and crafts notion of marketing and kind of the Vandy metrics aspect that that often is associated is very much alive and well, and so really taking a framework like this and ensuring that it doesn't get caught up in the marketing department but truly lives organization wide and that marketing is seeing everything from, you know, initial go to market strategy all the way through customer success and customer lifetime value. That's the the recipe for success within marketing these days. It's getting marketing out of that PSILO and really into a true sicklic process that's enforcing the the strategic goals of the business. I love it. Just in if anybody listening to this would like to follow up with you learn more about the revenue acceleration framework that you guys have laid out and that we're discussing today, what's the best way for them to go about doing that? Sure? Well, always, our website is is a wealth of resources. I like to say that we give away more best practices the most agencies have. So check out lead mdcom. Certainly I'm big on twitter. Love Twitter, so I'm at J gray matter or hit me up on Linkedin, any of those channels and I will definitely respond and would love to have a conversation. All right. Well, Justin on that note, this has been a great conversation. Thanks for being on the show. Thanks, logo. Appreciate it. Becoming a thought leader doesn't just happen. If you want to build a strong personal brand and extend your reach online and offline, you need a plan. Want help developing yours. Check out impact summer. This one day event is bringing together best selling authors, professional athletes, influential CEOS and emerging entrepreneurs, all for one purpose, to equip you to lead, influence and inspire. Whether you're looking to build a lasting legacy with your business or extend the reach of your brand.

Impact Summit speakers will share inspiring stories and practical lessons to help you on your way. Did we mention a session on launching and growing a podcast? You guessed it. You'll hear from sweet fish media's own James carberry during that session. You won't want to miss all of these influencers and leaders coming together in Salt Lake City on October thirteen. Ready to learn more? Check out influencer INC DOT COO. IMPACT SUMMIT BE TOB growth listeners can get fifteen percent off the price of their tickets for this event by using the Promo Code Sweet Fish. Sweet Fish, so use that code, get your tickets today and get ready to grow your brand and your influence at Impact Summit two thousand and Eighteen.

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