B2B Growth: Your Daily B2B Marketing Podcast
B2B Growth: Your Daily B2B Marketing Podcast

Episode 2038 · 7 months ago

The Most Underutilized Tactic in B2B Marketing

ABOUT THIS EPISODE

In this episode, Timmy Bauer talks with Isabelle Papoulias, CMO at MediaFly, about the two most underutilized tactics in B2B marketing. 

Yeah. Hey everybody, welcome back to anotherepisode of GDP growth. I'm your host, timmy Bauer. I'm the content strategisthere at Sweet Fish. And my guest today is Isabel papoulias. She is the CMO atMedia fly. Isabel Welcome to the show. Hello thank you for having me andthat's a good way to start. I just lost my earring but hey that's why bodycasting its life. So we're going with the flow here. Well it's not live so Icould edit out you losing your earring. But uh yeah so it's about the last timeyou and I were talking I asked you you know what's under utilized tactic and B.Two B. Marketing and you said something to me that felt really no brainer whichis why I'm interested in doing an episode with you on it and that is notbeing hyper targeted and not doing the I. C. P. Evaluative work. So first ofall, before we go any further what do you mean by that? So I see p idealcustomer profile. I know some some folks when I mentioned it don't alwaysknow the acronym but it's definitely...

...common uh with marketing and CMoS. Yeah.You know the reason why that first came to mind when you asked me was reallytwo fold one was because we and media fly. You know my team and sales wereactively going through nicely. We kind of exercise right uh to hone in on ourtarget audience. And then second because I am um it was surprising to meto find out that when I do talk to cmos or marketing leads at how how manydon't haven't applied it. Right. And so that's I don't know if that's yourdefinition of underrated. I think again as a concept it's very well concept.It's more like it seems like it's not as frequently applied that I would haveexpected. So that's that's where it came from. Why do you think you'reyou've so often seen it not being applied or not being applied diligently?You know, I'm going to guess it's...

...because there is so much pressure on uscmos and you know marketing leaders to create demand that we often forget thequality and we go for volume, right? And and that's a big statement to make.Of course we want quality. But I think there's a pressure right to just kindof more is more there's a feeling that more I need more demand, I need morepipeline, I need to keep the funnel and so I'm gonna talk to everybody and I'vedone it. So this isn't a criticism. I think that is just so much pressure.Having been someone who's done it. Why do you think it's the bad way to dothings? Why do you think that instead you need to be hyper targeted? Yeah.And by the way, it's maybe not always the bad way to do things right. Butwhat I'm, what I'm seeing again from my own experiences and it's a bitcounterintuitive, but we went through the exercise and I'm happy to talkabout this if you ask me later and...

...honed in on truly are are idealcustomer, like what, you know, what is, what is more, what do our mostdelighted customers look like and what do they have in common and how do webuild a profile to find more folks like them? Right. And and by doing that byhoning in, we kind of decided to let go of a huge portion of our totaladdressable market, like the potential and and all the folks that we couldhave been talking to and industries and size of companies one not right? And itwas partially counterintuitively, partially nerve wracking because you'relike, what's going to happen to my demand? Like, wow, like lead theinbound leads are going to plummet. And so psychologically it was a littlescary, but it's happened all of that has happened. So you got a lot less inleeds and a number of opportunities, but what you lose in volume, yourmakeup inequality at least, has been our experience, right? Why? Becauseyou're going in front of the eyeballs...

...that really matter. And so other thingsstart to change, right? The quality of your opportunities, the size of youropportunities, the your clothes rate goes up because you're actually talkingand pulling in the right folks, right? And so it's been interesting to see tosee the impact on the business as a result of the SCP exercise. And it'salways, you know, I mean, it's always iterative. We're constantly revisiting,you know, we we uh we revisit both ways, right? The discussion is like, do we goeven narrow, more narrow? Or do should we have we gone too narrow? And do weneed to broaden a little bit? Right. And so it's it's every Every few months,like once a quarter we come back together and it's very much aconversation with marketing and sales, like, and I should stress that thisshould in no way be marketing, like most things in marketing, I'm not abeliever in marketing going there corner and coming up with their ownstuff. I mean it's absolutely 100%, but you know the buzzword of sales andmarketing alignment applies. Yeah. Yeah.

So before we get to how to iterate it,let me just talk, let's just have you unpack how you, you folks did it. Andso for somebody who's listening, who wants to do what you did, what did youdo? Yeah. So we had we had some hypotheses already from from the pastand what we've seen work and whatnot. And uh but then what we did is we we goto sales and marketing in a room, you know, and and like I said, started witheverybody came in with their list of The 15 most delighted customers intheir from their standpoint, right? So we also had a customer success in theroom. So by cells, I mean, you know, our hunters as well as our account repsand customer success and everybody brother perspective and truly delighted.As it not just happy. Like I said, truly delighted, right? The ones thatare gonna have been with us for a long time are constantly expanding aregiving us referrals are doing case studies and press releases right? Likethat kind of relationship. Then we dissected those relationships. We weactually there were a lot of commonalities you know, which is great.You know everybody come came in with a...

...similar list and then we kind of wentdown the list like one by one. Okay, so let's talk about this relationship likewhat makes relationships so special. Uh and then we found more commonalitiesthere. And so that's how we, I would say that exercise for us didn'tnecessarily yield something completely new, like radically new as much as itis, it's validated our initial hypothesis of what the I. C. P. Shouldbe and uh refine it a little bit, but you might want something a littledifferent. Hey everybody Logan with sweet fish here, if you're a regularlistener of GDP Growth, you know that I'm one of the co hosts of the show,but you may not know that. I also head up the sales team here at Sweet fish.So for those of you in sales or sales ops, I wanted to take a second to sharesomething that's made us insanely more efficient lately. Our team has beenusing lead I. Q. For the past few months and what used to take us fourhours gathering contact data. Now takes...

...us only one where 75 more efficientwere able to move faster with outbound prospecting and organizing ourcampaigns is so much easier than before. I'd highly suggest you guys check outlead IQ as well. You can check them out at least I Q dot com. That's L E A D IQ dot com. All right, let's get back to the show. Yeah. What were the criteriaor categories that you you know, we look at. Yeah. Look at this and youknow, it might vary depending on again your customer base and you know whatthey have in common. But you know, it's it's looking at things for us. It waslooking at things like industry. Like we definitely saw a couple ofindustries our much more relevant for us company size. You know some veryvery detailed specs there a couple of use cases that very much like the roseto the surface. And I would say those those three elements were probably thebiggest characteristics for us to build...

...the around was the industry, thecompany size and then the use cases. So how do you iterate on this? So like Isaid you're a visit because then you're going then you go to market with an Ikeep in mind and so what I call it is like I. C. P. Or bust. So now we're Iwant to make sure that we're spending most of our calories as I call it.Which is our energy on getting in front of that right audience right? Whetherit's with like our outbound efforts right? And are targeting and the listbuilding that we're doing with sales and making they're going after theright companies. Whether it's even from uh like a field marketing even side ofthings like when we do digital events I I don't want to go abroad. I mean justbecause we're in the sales enablement business. Right? So just because it's aself enablement event doesn't that we should be there right? I wanna only bepresent at events where that customer...

...is present and if they're not therethen I'm just not going to do that event. Right? So that's another exampleof like how you started applied account based marketing from a digitalmarketing standpoint and looking at intent data. And so again it's it'smade were only targeting those accounts that fit the ICMP. Right? So we'retrying we're trying to do is we're trying to really limit the waste and Ithink limiting the waist, it's always important for marketing, but it's moreimportant than ever. Now. You know, we're still in covered, you know,hopefully soon to be post covered, but lots of us have experienced, you know,marketing cuts. Yes please marketing budget cuts. You know, there's a lotmore, there's even more scrutiny on budgets and how hard the budget isworking on performance. And so there's less appetite for waste correctly.Right? And failure. And so I think the more you can target, like I said, yourcalories including your dollars to um...

...the audience that will have the biggestimpact the better. And, and it's not to say that we're not gonna talk to beclear, that's the ideal customer, It's not the only customer, right? And that's something we alsoremind ourselves of internally, you may have catch some, some folks in your netright through inbound that don't quite fit that, but for other reasons,they're still good to talk to write. It just means that we're not going toproactively spent a lot of effort trying to reach them. But if they'recoming to us and it's a sizable business opportunities and we'll still,you know, still talk, how do you figure out if you've gone too narrow or toobroad? I mean, frankly that's, that's pipeline, you know, I mean, if it's atthe point of being very targeted, it's getting quality pipeline and turning itinto revenue, right? And so if you're seeing your pipeline and your revenuenegatively affected by those efforts and you're then you're doing somethingwrong, then, you know, you need to adjust how often are you folksrevisiting your and finding out like, oh we've definitely we definitely needto change this, I would say once a...

...quarter. I mean, you know, we like,like most startups, we, you know, we plan, we have quarterly goals that weneed to hit and uh that seems like the right cadence for us to be revisitingthe I. C. P. As well as other parts of our business strategy. You know, as wego into as we finished one quarter and we go into the next one, what have welearned? We revisit some things and, you know, the cps is one of them. Also,if I'm wanting to follow your advice, making an honest effort to follow whatyou're saying, how could I mess it up? Mhm. How can you mess it up? I mean Ithink you messed it up. I think first of all it makes a messing up might beokay because it's trial and error, so I don't know they're messing up is bad,then you course correct. So so that's that's one thing. I mean you you wouldmess it up by probably the biggest way to mess it up is, but not if you'regonna go through the process of truly...

...defining your I. C. B. Then yourmessaging really needs to be relevant to the audience. That's the whole point,right? And then you're you're really holding on the right message for them.So if you're not addressing everything else, so if you find you you define theI. C. B. But then you're not really developing the right message or you'renot revisiting your digital marketing strategy or other approaches to hit onthe audience, then you're you're not getting the most out of it. I love it,Isabel, I love this episode. It's good to just folk, even though it's sofundamental, the fact that you're saying that you've met so many folks atyour level that are not doing this work um I think makes this relevant. Thankyou so much for being on the podcast. How can listeners connect with you? Thebest place to find me through Lincoln? So Isabel papoulias looked me up andsend me a message there and I'm much better responding on linked in than Iam on email and that's why I'm I'm sharing Lincoln and nothing else. Ialso media flight, Media media Fly dot...

...com. I wanted to mention that obviouslyyou can track me that way or others on the leadership team uh and also theinvolved selling institute which is part of media fly. It's our leadershipplatform. So that's another another entry point point. There's also a lotof great content there around our categories. So awesome. Isabelle thankyou so much for being on the podcast. Thank you for having me. Mm one of the things we've learned aboutpodcast audience growth is that word of mouth works. It works really, reallywell actually. So if you love this show, it would be awesome if you texted afriend to tell them about it. And if you send me a text with a screenshot ofthe text you sent to your friend meta. I know I'll send you a copy of my book,content based networking. How to instantly connect with anyone you wantto know. My cell phone number is 40749033 to eight. Happy texting.

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