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I’ve spent some time over the past week staring at the lake – the movement of the waves, the reflections on the water, boats in the sun – it seems different throughout the day. And I feel like our job, as marketers, is to try and roll with the ever-changing market and adjust as we can.

Give this cool tune by Queens of the Stone Age a listen with me as we see what the experts are saying this week…

Worried about the Rapidly Increasing Need for Content?

Ever feel like you can never produce enough content? More than half of us are still operating with either zero or just one full-time team member dedicated to content marketing. Top it off with a competitive market for freelance and contracted talent, and you’ll find some stressed-out marketers.

According to B2B Marketing Zone, there are strategies you can implement to meet the need for content despite the challenges:

1. Tighten standard operating procedures
2. Only create content your audience wants
3. Create content for SEO snippets

No matter who you are or what you’re selling, the best content strategy to keep you from coming undone will always be one that focuses on providing long-term value to your audience consistently, despite the demands of today.

And Speaking of Content… Check out this Podcast!

I recently had the chance to join Glenn Schmelzle on his podcast, Funnel Reboot. I suggest you check it out if you haven’t – lots of great lead gen content, and I am honoured he asked me to take part. We discussed how marketing can (and needs to) understand how new sales dynamics are affecting us – give it a listen!

Worried About Rapidly Increasing Ticket Prices?

Does it feel like the cost of concert tickets has been skyrocketing this summer? After a couple of years of being sidelined by the COVID pandemic, the live music industry has roared back to life – and it looks like artists and promoters are looking to make up for lost time (and money).

The Globe and Mail took a look at some upcoming Toronto shows and found that the cheapest tickets for Red Hot Chili Peppers are going for $200. Standing room at that show? Almost $900! If Kendrick Lamar is more to your taste, tickets will cost you about $500.

As of late June, the average ticket to one of the 100 most popular tours in North America cost $108.20 USD – a 17% increase over the average ticket in 2019, the last full year of live events, according to concert data provider Pollstar. And concertgoers are spending more after they arrive at shows. Live Nation’s revenue per fan from in-venue merch sales was up 30% compared with 2019.

There is evidence to suggest that the price increases are being driven at least partly by increased demand. In the first half of 2022, tours attracted 5% more audience members than in 2019 and took in 25% more revenue.

It’s no one cause, but a matter of that and this, these and those. The combination of high demand, the need to recoup the losses of the last couple of years, and surely some other factors we haven’t considered are resulting in some real financial pain for the fans.

As always, don’t hesitate to call me to brainstorm or just say hello.

Looking forward,
Rick

Rick Endrulat, President | ricke@v-causeway.com | www.linkedin.com/in/rickendrulat

The post Demand Increasing Rapidly? Don’t Panic! appeared first on Virtual Causeway.

It seems like this September is busier than ever in the B2B space! “Livin’ life at a pace that kills”? Reminds me of Eddie’s frantic playing. Give this classic a listen as you read on, and enjoy the VH-inspired theme for this email!

Here is what the experts are saying, and some takeaways from the past week:

Exploiting Data to Deliver Customer Value

Customers have more power than ever, according to SparkPost – and I totally agree! With just a 5% increase in customer retention potentially increasing a business’ profitability by 75%, it’s clear why improving customer experience is one of the key areas of focus for marketing departments. So – how can organizations improve their communications practices and increase customer experience?

• Make it relevant
• Make it clear
• Be human
• Invest in proactive outreach
• Ask for feedback

When companies discuss customer experience, I always encourage them to think of it from a proactive standpoint and not just a reactive one. Of course, employing data-driven marketing is the method to ensure the desired customer experience. How do you know your marketing activity is successful if you do not track the response? This approach favours digital or human marketing to leverage the advantage of personalization.

HubSpot Data Update

Let’s check in on the latest trends in HubSpot data. Based on the activities of over 70,000 companies, through to the end of August, HubSpot found:

• • Deals Created and Deals Closed continue to outperform pre-COVID benchmarks
  • Sales Calls have finally performed above pre-COVID benchmarks in August
  • Contact Growth (average contacts added to the CRM) has been mostly below benchmarks since March
  • Active Conversation Interactions have been increasing since March and are now performing 50% above benchmarks

Check out the details here. The contact growth reduction may be a result of concentrating on known prospects and ABM strategies. But increased lead engagement is critical to improving results, and increases in deals created and closed show that business continues to improve.

Hopefully you don’t need to beg or borrow to hit your 2020 targets!

It’s Alive! The Guitar is Very Much Alive!

Recent news has reported the demise of live music, but the guitar industry is hotter than ever! Three years ago, the press was talking about the ‘slow death’ of the electric guitar. However, 2020 has been a ‘guitar boom’ for most guitar manufacturers!

People in lockdown started looking for activities – and many turned to making music. Check out the article here.

Will we have a new generation of Eddie Van Halens showing up on YouTube? It shows that every cloud has a silver lining – at least for guitar lovers like me! While the simple life ain’t so simple these days, I encourage you to keep looking for that silver lining.

As always, don’t hesitate to call me to brainstorm or ask how I can help.

Looking forward,
Rick

Rick Endrulat | President | Virtual Causeway | 519.866.1600 x622

P.S. If you want a good chuckle, give this a listen – David Lee Roth’s isolated “Runnin’ With the Devil” vocals – gives you a new appreciation for the song!

The post Increase Your Customer Experience appeared first on Virtual Causeway.

It’s the middle of September and summer has come and passed. Are you back into the frantic chaos as Q4 approaches? I’m feeling a bit nostalgic for the warm sunshine, and just want to close my eyes, relax, and wake up when September ends! Wishful thinking, right? Join me and give this a listen as you read on…

Here is what the experts are saying, and some takeaways from the past week:

Use Data to Identify Most Valuable Leads
How do you bring greater efficiency to your marketing system? Some great advice from Moneypenny – use your data to evaluate and track your most valuable leads, save money on non-performing sources, and grow your business by supporting what works! I’m a data nerd, and love to analyze data and refine strategy based on what it tells me.

As the saying goes, knowledge is power, and measuring everything is key. Sometimes I’ll speak with a client that has a campaign that’s been running for so long…no one really knows why it’s being run! I ask about ROI and get blank stares.

I’m urging you to make your marketing programs fight for their money. Avoid ongoing support of underperforming programs. Data is your friend.

Sustainability is the New Business Reality
Is sustainability a part of your business strategy? According to Forrester, sustainability is not a trend that will pass, but a new business reality. Becoming more sustainable will test established companies’ sourcing, employment, and growth strategies. Companies that were born pursuing a sustainable agenda have an advantage and will turn risks into opportunities. Sustainability concerns are an opportunity to bring to market products and services that meet new customer demands.

At Virtual Causeway, we’ve focused on sustainability from the early days of our business – and we look at it in two ways:
Financial Sustainability of our services to our clients – providing solutions that generate a positive ROI and pay for themselves in the long run. We help our clients shorten their sales cycles and generate demand for their product – and as their sales increase, our services are paid for!
Environmental and Social Sustainability – accepting our social and environmental responsibility as an organization by committing to reducing our carbon footprint year over year. Plus, being early adopters of the Pledge 1% model and supporting charities and local non-profits.
Hopefully you can integrate sustainability into what you are doing as well!

“Pardon me, Your Majesty. Could you pass the popcorn?”
Have you dropped by to visit Queen Elizabeth lately? It turns out that her Sandringham Estate is hosting a drive-in movie theatre starting September 25. What creative and fun activities could you organize for your community or customers?

Drive-in movie theatres have had a resurgence this year – I hope you’re able to visit one before September ends!

Webinar Recording – 4 Ways to Impact 2020 Sales
The recording of our most recent webinar – 4 Proven Sales & Marketing Tactics to Impact Your 2020 B2B Sales is now available! Check it out when you have a chance.

As always, don’t hesitate to call me to brainstorm or ask how I can help.
Rick

Rick Endrulat | President | Virtual Causeway | 519.866.1600 x622

The post Wake Up! Summer is Over appeared first on Virtual Causeway.

Here is what the experts are saying, and some takeaways from the past week:

Three Strategies to Reduce Buyer’s Uncertainty and Unlock Purchase Decisions
Our friends at biztechreports highlight some research that outlines three key CMO strategies to reduce uncertainty and unlock purchase decisions during the COVID-19 pandemic:

1. Prioritize high-impact organizational change for a customer segment
2. Document tasks and create/curate content pieces
3. Deliver enablement content

Sound easy enough?

The DemandGen report I shared last week reinforces the need for relevant content in early-stage engagement. In particular, 70% of buyers ranked “relevant content that speaks directly to our company” as “very important” in the survey, and 96% of B2B professionals considered messaging that “spoke directly to our industry needs” to be important.

There’s no doubt that change amplifies uncertainty for buyers. We’ve found that revisiting a client’s unique value proposition can yield insights to modify messaging in the current circumstances. Sometimes these insights can even suggest product/service changes to better respond to current needs.

How does your organization provide relevant content to prospects? Have you revisited your sales process to align with your buyer’s journey?

One Day It’s Fine And Next It’s Black
Some unfortunate employment outcomes resulting from the pandemic are becoming clear. A recent study shows that 64% of UK musicians are considering leaving the business. This bums me out, as I’m a musician, a lover of live music, and a huge music fan overall (in case you can’t tell)! Some other findings from the study:

• Musicians have lost on average 87% of their live bookings (and main source of income)
• 50% have no bookings for the rest of 2020
• 40% have applied for a non-music job since March
• Young Women are worst affected
• Classical musicians have the fewest bookings; Pop musicians have lost the most money

Check out the full story here.  With venues struggling and musicians leaving the profession, the future of live music is uncertain. In the B2B world, we know the live event business is struggling. And when you take into account all of the ‘adjacent’ businesses and industries, many are affected. Can virtual events fill the void?

Some Good News
In an effort to end on a more positive note, here is a ‘some good news’ throwback that brought a smile to my face!

I hope you do whatever makes you smile this long weekend!

As always, don’t hesitate to call me to brainstorm or ask how I can help.
Rick

Rick Endrulat | President | Virtual Causeway | 519.866.1600 x622

The post Unlock B2B Purchase Decisions for Increased Sales appeared first on Virtual Causeway.

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

Rick Endrulat | President | Virtual Causeway | 519.866.1600 x622

The post Getting B2B Sales Off Hold appeared first on Virtual Causeway.