Dan Sixsmith: Marketers May Be Missing Their Chance

Boston Consulting Group believes that 1/3 of publicly traded companies will be gone in 5 years. Learn why this may happen and how the changing dynamic between buyers and sellers is a critical component of determining your company's fate. I took to the stage at Salesforce.com's Dreamforce Conference to discuss the tectonic changes in the marketplace and which companies are leading the charge to success on this new playing field.


Dan Sixsmith: The New Critical Change Marketers Are Missing [VIDEO]

The New Marketing: Why You're Uncomfortable

The Boston Consulting Group's latest research is eye-opening: 1/3 of publicly traded US companies will be gone in 5 years....huh? Digital disruption will continue to reek havoc on corporate America says BCG. Why? One word: change. Organizations that are not able to properly manage change are going by the wayside. Those that manage change by creating it, anticipating it, embracing it, staffing for it, training around it and communicating during it are thriving. It's simple, says BCG: Change or die. 
What does this mean for marketing leaders? The playing field has changed. Buyers and consumers have changed. They want instant gratification, personalized content, relevant messaging and a consistent and continuous conversation with marketers across all channels. What are many marketers delivering? One-off campaigns, disparate messages across channels, and messaging that lacks personalization and relevance.
Marketers are scrambling to re invent themselves, but old habits die hard and it's easy to stick with what is comfortable. How are marketers feeling about their efforts?
40% of marketers want to re invent themselves, yet only 14% know how to go about this (Adobe)
54% of marketers say that to be effective in the new landscape they will need to take more risks (Adobe)
Only 44% of marketers actually have a strategy (CMI)--this is puzzling, no? "Execution without strategy is chaos"(Ardeth Albee, "Digital Relevance" read this book!)
BCG's prediction doesn't seem so far fetched after reviewing these stats.
So, what can marketers do to make sure they are not left behind as the new reality takes greater hold?

Change Your Mindset (and maybe your company):
The post recession economy has left a cloud of status quo hugging and playing not to lose which needs to be abandoned. A dramatically changed landscape requires experimentation and a new strategy. Leaders need to step forward and blaze a path. If your company is not embracing change, you need to leave and go somewhere else where they get it. Chances are your company is going to be joining BCG's list of victims anyway.

Conversations vs. Campaigns: In a prior article, I discussed why campaigns are less effective than ever before (see "Marketing Campaigns? So 2014!" http://ow.ly/3yhkqL)
And here are a few more reasons why campaigns should not be the centerpiece of your strategy anymore: campaigns start and stop yet the buyer lifecycle continues on sometimes as long as 12-15 months; the prospect's needs are changing quickly and campaigns by design can't react quickly enough; campaigns are typically different within each channel leaving a prospect with a potentially disjointed message. Prospects want a cohesive story yet campaigns have the tendency to push out chapters from different books. So how do we conduct effective conversations?

Systematic vs. Random-There must be a digital ecosystem which works together as opposed to haphazard dart throwing. Begin by evaluating how your current digital marketing efforts are performing vs. KPIs. Then sketch out the proper balance of ongoing pull content with scheduled push content (yes, campaigns still have a place) and a big splash once or twice per year. Google is a big proponent of this approach. The proper creation, orchestration and management of the ecosystem will ensure you're carrying on relevant conversations (ping me for more detail on how best to achieve) The brands and organizations that are taking this approach are realizing a 15-25% improvement in marketing ROI.

Dynamic vs. Static Content: Newsflash! Content isn't king anymore. There is a ton of it that's being force-fed down uncaring prospects' throats. The Internet is awash is meaningless content. Only 30% of marketers believe their content marketing efforts are effective (CMI). What to do? Quality is better than quantity. Dynamic and relevant content is now king.  Content which advances the conversation with prospects is king. Simplicity is king. Authentic storytelling is king. Visually engaging content is king. [Interactive Video, Virtual and Augmented Reality are poised to break through] Data needs to be leveraged to pinpoint the right messaging and content to deliver and carry on a conversation with prospects.

Outside In vs. Inside Out Messaging- The norm for decades has been inside out messaging, meaning its about us first--our team, our wins, our products, features, awards and so on. This type of messaging is similar to going on a date with a person that talks only about him or her. Not much fun. No second date. Now we know why only 7% of sales people get a second meeting (Forrester). Outside in messaging takes a customer first approach. What are the challenges, the issues, and the needs that you can solve? The messaging in your content and the way sales engaged with customers needs to be outside in. Customer issue first, insights you can bring to the table next, your company and solution last.


What is your experience around the New Marketing? What is your company doing to stay off BCG's endangered species list?  Are you a disruptor?  A maverick?  A leader? Or a wait and see, play it safe, status quo hugger? What is your personal strategy for success?