We are dangerously close to Labor Day! With schools re-opening, the economy rebounding – are you feeling optimistic? I sometimes wish the summer would last forever – but the renewed energy and focus associated with September can be invigorating. Need an energy boost? Listen to this while you read through today – perhaps it’s just what you needed!
Here is what the experts are saying, and some takeaways from the past week:
SDR Function – Sales or Marketing?
I recently moderated a discussion on how sales and marketing leaders can best work with the Sales Development function in an organization. In a follow-up, I polled sales and marketing leaders, and asked if the SDR function should report into Sales or Marketing – and got the following response:
- Sales – 37%
- Marketing – 13%
- Both Sales & Marketing – 50%
This reflects the challenges of alignment between sales and marketing. If they report into both, won’t the SDR go crazy trying to please two masters? If they report into Sales, do they miss developmental opportunities to better understand targeting and messaging? If they report into Marketing, do they miss being mentored by individuals experienced in one-to-one engagement?
I find myself in the sales AND marketing camp, thinking that the SDR function can act as a ‘bridge’ (or maybe a ‘causeway’?!) between them. Much of what they do involves helping leads progress through the funnel. In that way, the function straddles BOTH! Admittedly the reporting structure can be tricky and there is a real need to set service level agreements for leads going to sales.
Where do your SDRs report? What have you seen work best?
Not All B2B Buying Decisions are on Hold
DemandGen’s 2020 Buyer Behaviour Study is cause for hope for all of us trying to close revenue in Q3! Some quick nuggets:
- 53% of marketers said the current crisis has NOT disrupted purchase plans
- 68% said the length of the B2B purchase had increased compared to last year
- 82% said purchase decisions progress now based on changing business needs
So how to move those opportunities along to closed-won? Solution providers need to engage in personalized ways that address specific challenges with their customers – either by industry or at the account level – providing them just what they need! (Sounds like an effective ABM strategy to me!)
Lessons from Innovative Music Companies
We have previously looked at the creative ways the music industry is responding to the pandemic’s impact on live events. But the article The 10 most innovative music companies of 2020 provides useful insight into finding success in a challenging environment.
Consider Gold Rush Vinyl, in our digital “I’m not waiting for anything” world, they are boosting the resurgence of old-school vinyl. How? Gold Rush Vinyl’s innovative process gets records into the hands of fans three times faster than the industry standard – in a more environmental manner to boot! They focus on identifying and solving a critical issue that matters to their customers.
Bravado innovatives in the world of music artist merchandise or merch for the cool kids! Tapping into the growing desire of fans to connect with their favorite artists, they go beyond the standard concert t-shirts. They seek to create an artist brand. Bravado is evolving artist merchandise into highly coveted keepsakes. They took the time to examine what was motivating fans to purchase and created improved product offerings that are significantly growing sales.
What simple innovation might grow your revenues?
As the summer comes to a close – try not to lose your mind! Remember it doesn’t matter where you’ve been, as long as it was deep!
As always, don’t hesitate to call me to brainstorm or ask how I can help.
Rick Endrulat | President | Virtual Causeway | 519.866.1600 x622