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I’ve been feeling flustered lately.

Yes – more than usual. But it seems like I’m not alone. I’ve seen many articles talking about this ‘cognitive fog’ that more and more of us are experiencing recently.

When I’m feeling like I need to cut through that foggy and sedated feeling, music helps! And nothing kicks me in the ass like a good punk rock tune!

Give this song by the ‘Godfathers of Punk’ a listen as we see what the experts are saying this week!

B2B Buyer Fog

There are more Americans who say they have serious cognitive problems – with remembering, concentrating or making decisions – than at any time in the last 15 years, data from the Census Bureau shows. And it’s not just ‘older’ adults – a significant portion of the data relates to young adults.

There are many potential reasons for this – long COVID, over-reliance on devices for everyday/simple tasks, increased stress, etc. But it got me thinking about how this relates to B2B. Since I started my career, researchers have been telling us, year after year, that sales cycles are becoming longer and more complex. Perhaps this aligns to that reduced ability to make decisions?

I see this with my clients – especially this year, as we throw economic uncertainty into the mix. I’ve noticed a marked increase in ‘pushed’ deals and a general lack of decisive action as it relates to spending and budgets.

According to Seth Godin, perhaps a more powerful estimate or Statement of Work is the way to get some movement and overcome any pricing objections.

“If your estimate:

• is clear and easy to understand by the sort of people you’d like to have as clients
• if it demonstrates full understanding of the work to be done
• if it highlights alternatives
• if it includes examples of proven satisfaction when you’ve done this work for others
• and if it’s delivered ahead of schedule

…then you’ve restated the problem. You’ve brought the client along on the journey with you, and established that they’re not spending more for the same thing, they’re spending more for a better, safer, higher status, more reliable thing.”

This might not be scalable – but perhaps it’s time to look at the quality of your SOWs and quotes. When you provide a quote, you’re giving a teaser of the craft you do. So the high standard you have for your own work should be reflected! Otherwise, you could end up with nothin’ to do and nowhere to go as your bids lose out to the cheaper alternatives.

Stage Fog

As we know, COVID shut down live music for almost two years. Tours stopped, roadies lost their gigs, fog machines were shut down, and support staff were laid off. But once restrictions were lifted, the industry came back to life, albeit with a degree of difficulty. However – many roadies and musicians had already left the industry to pursue other careers to make ends meet.

The good news? This past summer has shown a return to the ‘before’ times for live music – huge shows, packed concerts and festivals, and record revenues.

But…

The industry is dealing with rising costs (as we all are). Plus, Gen Z (the lifeblood of so many live scenes) are reportedly drinking less at shows, putting a BIG kink in an important revenue stream: smaller venues greatly depend largely on bar sales for survival, so there’s cause for worry.

And merch cuts are increasing. To compensate for higher costs and lower alcohol sales, venues are demanding that they get a greater percentage of merchandise sales – impacting revenue for the artist.

I think we all realize higher prices are here to stay – so what will the new reality be in the live music scene? According to Alan Cross, fans will have to make a choice between saving up their money to see a big act or using that same cash to see multiple smaller shows. Residencies are becoming popular with big artists – once you get to the airport and put yourself on a plane (and in a hotel room), it can cost a small fortune!

Impact on B2B? Inflation and interest rates are prompting everyone to look at their discretionary spending. Entertainment is usually one of the first things that gets cut. How will these concerns impact YOUR clients’ spending?

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 Cutting Through the Fog of Sales Objections appeared first on Virtual Causeway.

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Believe it or not, the holidays are right around the corner! Before you know it, we’ll be celebrating a new year.

You may have heard the quote, “procrastination is the thief of joy,” and I couldn’t agree more when it comes to managing our B2B sales and marketing efforts.

Given the shifts we’ve seen this year, it’s essential to reassess plans. By analyzing our current strategies, we can determine if adjustments are necessary to adapt to the changing landscape. Don’t let procrastination put your long-term goals at risk!

Don’t be lazy, and give this song by Deep Purple a listen as we see what the experts are saying this week.

Psychology of Colour in B2B

And speaking of Deep Purple, I have a lot in common with them. No, it has nothing to do with my musical prowess or skill on the guitar. But our corporate colour…

According to HubSpot, up to 90% of an initial impression can come from colour – and 93% of consumers make purchasing decisions based on visuals alone. That can be a lot of pressure when it comes to picking the right colours for your brand!

This article from Kalungi talks Colour Psychology. Whether you’re working on a new startup, rebranding, or just thinking about a refresh, they offer some great tips and warn against common colour mistakes in B2B SaaS:

• Know your Colour Theory basics. Hue, tint, tone, shade, and how different colours all work together will all play into how you choose your palette.
• Limit your colours. Having too many colours will dilute your message and make it seem like you don’t have a brand at all!
• Consider your brand message. What’s your brand voice? What message are you trying to communicate?
• Get familiar with Colour Psychology. Different colours evoke different emotions and elicit different responses. Use that to your advantage!

HubSpot shares a great breakdown of Colour Psychology (suitably, it’s a great visual representation). Virtual Causeway Purple is supposed to generate a wise, sophisticated aura…

What do you think? If you don’t make no effort, your corporate colours might end up sending the wrong message! According to HubSpot’s chart, what do yours say about your brand? And more importantly, is it what you want them to say?

Recommended Music Reading for the Fall

With the holidays approaching – how about some music-related reading to tide you over? Maybe you’re in search of a great read so you can just stay in bed as the cold weather rolls in… or you’re looking for a gift for that music lover on your holiday shopping list. Well, look no further – my favourite music journalist Alan Cross has provided his recommendations…

Included in his list: Rush bass player Geddy Lee’s autobiography; memoirs from Barbra and Britney; a look at the Beatles’ fashions (which no doubt touches on colour, too); and a book of Canadian music facts – like the invention of the term “Beatlemania” and how Toronto’s airport code (YYZ) ended up on a Rush album – perfect for the lover of pub quizzes or bathroom readers.

What do you think? Be it music, marketing, or another topic entirely… are there any new or upcoming reads that you’re excited about? I’d love to hear them!

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 Colour Me Surprised: Colour Psychology in Branding appeared first on Virtual Causeway.

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What is it about water?

Whether it’s a lake, river, or ocean – it’s always held a special place in the human psyche. It’s a source of nourishment, a medium for exploration, and a force to be reckoned with. Some of my most productive thinking happens at the lake!

Just as water can take on many forms, from tranquil lakes to tumultuous oceans, its symbolism is equally diverse – reflecting our desires, fears, and aspirations. What’s it reflecting for you this month? As year-end approaches, are you wrapped up in fear or a confident force to be reckoned with?

Give this song by Jane’s Addiction a listen as we wade into the Ocean Size waters of B2B and see what the experts are saying this week.

Saltwater B2B Lessons

I was recently sitting by the ocean watching a group of dolphins swim effortlessly past – and it made me pause. When we think of B2B marketing, we often picture boardrooms, data analytics, and corporate strategies… not the playful acrobatics of dolphins. But I love finding unlikely parallels to B2B – so I thought we could take a journey beneath the surface and discover the unexpected ways in which these ocean-dwellers and B2B marketing intersect.

1. Communication and Collaboration: Dolphins are known for their exceptional communication skills and collaborative nature within their pods. Similarly, effective B2B marketing thrives on robust communication and collaboration among teams, partners, and clients. Just as dolphins work together to achieve common goals, B2B marketers must foster clear and open communication to succeed in reaching shared objectives.
2. Adaptability and Innovation: Dolphins showcase adaptability in their behaviour and problem-solving abilities. In the ever-evolving landscape of B2B marketing, adaptability and innovation are crucial. Just as dolphins adapt to changes in their environment, successful B2B marketers need to embrace new technologies, strategies, and market shifts to stay ahead.
3. Relationship Building: Dolphins form strong social bonds and maintain relationships within their pods. In B2B marketing, cultivating and nurturing relationships with clients, stakeholders, and industry peers is fundamental. Building trust and rapport, as dolphins do within their social groups, is key to establishing successful, long-term B2B partnerships.
4. Eco-consciousness and Sustainability: Dolphins are often seen as indicators of the health of oceanic ecosystems. Likewise, in the realm of B2B marketing, there’s an increasing emphasis on sustainability and corporate social responsibility. Just as dolphins signal environmental well-being, businesses are now expected to contribute positively to the environment and society.
5. Embracing Creativity and Playfulness: Dolphins exhibit playful behavior, showing that even in the most serious of endeavours, there’s room for fun. In B2B marketing, incorporating creativity and a touch of playfulness into campaigns can set a brand apart, making it more engaging and memorable.

The connection between dolphins and B2B marketing might seem abstract, but the lessons derived from their behaviour can still serve as valuable insights for marketers. By observing the strengths of these no-talking-all-action creatures, we can mirror their resilience and intelligence in our vast ocean of commerce.

Spotify and Smaller Bands?

As you may have gathered from last week’s post, my colleague Marlene is a fan of hard rock. I spoke a few weeks back about some of the changes to Spotify’s royalty model, which will have an adverse impact on rock and metal artists – many of whom are smaller acts.

Check out this article and video for more details.

It ain’t easy living for smaller artists/bands to begin with, and Spotify is poised to make it even tougher. The new payment structure will cater to established artists and labels, with the biggest change being that any track will need to hit an annual streaming minimum before being eligible for royalties.

What about in B2B? Have you ever found yourself in a similar situation – perhaps with one of your preferred SaaS platforms changing on you? Do you adjust your processes or strategy to accommodate those changes… or look for alternatives?

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 Say Hello to Your Newest B2B Marketers appeared first on Virtual Causeway.

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Who does your dirty work?

Okay, maybe not ‘dirty work’ – but who helps you get stuff done? Sure – we have co-workers and employees – but what about those contractors, vendors, and freelancers that make things happen on a daily basis? How often do we give thanks to them?

Give this song by Steely Dan a listen as we see what the experts are saying this week!

Strategic Alliances: Who can get the job done?

The band Steely Dan was famous in the ’70s not only for their hit songs… but the two primary songwriters, Walter Becker and Donald Fagen, developed the band to the point where THEY WERE the band – and would surround themselves with the best of the best studio musicians for recording and touring. The result? Some of the most technically proficient music of their era, fusing jazz, soul, R&B, and rock.

This strategic alliances play is a lot more common in B2B than in the world of music. In fact, MarketingProfs outlines some of the benefits and risks of strategic alliances:

Benefits:

1. Access to new markets
2. Shared resources and expertise
3. Cost savings
4. Competitive advantage

Risks:

1. Coordination and integration challenges
2. Sharing confidential information
3. Dependency on partners
4. Potential conflicts of interest

Shifting to rely more heavily on strategic alliances – whether as a business or as a band – is a big decision. It’s important to weigh the pros and cons carefully, as Becker and Fagen probably did. Do you rely on these alliances in your business? How do you find yourself somebody who can do the job?

Song Lyrics: What are you searching for?

Are you the kind of person who searches for song lyrics? This survey comes from a site called Word List Finder. It focuses on American searches for song lyrics – and it’s super interesting. (And for my fellow Canadians – they insist that we search for country lyrics more than any other genre!)

These are the most-searched song lyrics in America:

1. Queen, “Bohemian Rhapsody”
2. Eagles, “Hotel California”
3. Eminem, “Lose Yourself”
4. Michael Jackson, “Billie Jean”
5. Dolly Parton, “Jolene”
6. Don McLean, “American Pie”
7. Backstreet Boys, “I Want It That Way”
8. Led Zeppelin, “Stairway to Heaven”
9. Taylor Swift, “Love Story”
10. Britney Spears, “Toxic”

And how about some lists by genre? Indie Rock:

1. alt-J, “Breezeblocks”
2. Mac DeMarco, “Chamber of Reflection”
3. Phoebe Bridgers, “Motion Sickness”
4. Violet Femmes, “Blister in the Sun”
5. Neutral Milk Hotel, “In the Aeroplane Over the Sea”

Punk:

1. Talking Heads, “Psycho Killer”
2. Green Day, “American Idiot”
3. Green Day, “Basket Case”
4. The Clash, “Should I Stay or Should I Go”
5. The Clash, “Rock the Casbah”

Rock:

1. Queen, “Bohemian Rhapsody”
2. Eagles, “Hotel California”
3. Don McLean, “American Pie”
4. Led Zeppelin, “Stairway to Heaven”
5. AC/DC, “Black in Black”

Check out the article for breakdowns by other genres, too.

What about B2B? Unless you’re like me and inserting lyrical references into a weekly blog like a thousand times before, you’re probably not searching for song lyrics for work. But what are you searching for? Probably things to help you in your work: software, services, or those strategic partners.

Perhaps more importantly, what are other people searching for? And if it’s you, how are you making sure they find you?

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 Searching for that Special Someone appeared first on Virtual Causeway.

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How much rent do you pay?

No, I don’t just mean an apartment or housing. In our business lives we ‘rent’ many things. Equipment? Office space? How about software? The whole SaaS model is equivalent to paying monthly rent on your systems.

Think about all the technology you touch on a daily basis for your work – how many monthly/recurring payments do you have? It’s overwhelming, isn’t it – and a slight increase by multiple vendors can significantly impact your bottom line.

Give this song by Spoon a listen as we see what the experts are saying about the rent we pay this week…

For the CRM Aficionados…

SaaS pricing is an art unto itself. How many tiers, what features are available on each tier, etc. – there are many variables. For those of you who use Salesforce, you’ll probably be impacted by their latest price increases.

For the first time in more than seven years, Salesforce has increased its prices on the majority of its popular plans. The Starter plan stayed at the competitive $25/user/month, but the Professional, Enterprise, and Unlimited plans all saw an average increase of around 9%.

What’s the reason for the increase? According to the official Salesforce press release, it’s because the company has substantially increased its generative AI offerings, including AI Cloud, Einstein GPT, and others. As a result, they’ve increased prices to make up for the increased functionality of the platform as a whole.

I’d love to hear from you if you’re a Salesforce user – how are these increases impacting you? Maybe you’ve been losing sleep over the changes – or maybe you’re still seeing the value? I’m curious how other major CRM vendors will respond.

For the Music Lovers…

Spotify users have been waiting almost two years for the platform to up its game when it comes to audio quality. Apple, Tidal, Qobuz, Amazon, and others are already available in higher-res audio while Spotify seems stuck in 2017.

A “Supremium” tier was announced in 2021, and promises have been made and broken since then. Now, though, there may be a light at the end of the tunnel: data miners have identified changes in Spotify’s code that seem to include the ability to carry lossless audio.

The Verge also reports on the possibility of 24-bit lossless audio, AI playlists, advanced mixing tools, audiobooks, and more. And – the code seems to reference a cost of $19.99/month.

What do you think? Does a tier for higher-res audio resonate with you? And what about B2B? I’m sure most of us have found ourselves working with systems overdue for an update. Do you stick it out and make do because you like the rent you pay… or does the stuck-in-the-past software have you looking at alternatives?

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 The Art of SaaS: What Do You Pay? appeared first on Virtual Causeway.

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Mick Jagger just had a huge birthday. Wow – the bad boy of rock and roll that sang against the establishment is now an 80-year-old British Knight!

Do you think these original rock stars ever thought they’d reach octogenarian status? I guess time really waits for no one…

Give this song by the Rolling Stones a listen with me as we see what the experts are saying this week.

Who’s a Rock Star…?

B2B marketers like to throw the term ‘rock star’ around a little too freely. But as Bob Lefsetz puts it, “A banker, a techie, can never be a rock star. BECAUSE THEY DON’T PLAY MUSIC!”

A term that once meant something has been bastardized beyond recognition. These supposed ‘rock stars’ want to be bankers, investors, venture capitalists… and they want the same money! We know Mick was always very business-savvy – is he a true ‘rock star’? I’d suggest reading Lefsetz’s post – it’s a great read.

But just because the term ‘rock star’ has been bastardized, that doesn’t mean the true meaning, the essence, has been lost. Back in the day, especially before the internet, it was nearly impossible to become a rock star – so we respected those who succeeded.

As marketers, what is the benefit of acting like a rock star? Is it about acting like you are successful? Is it about the reputation, the fame everlasting? Or maybe it’s less about ourselves and more about customer relationships. What do you think?

“Upcoming Changes to your Subscription”

Uh-oh. That dreaded subject line in your inbox. ‘Changes’ for streaming services (a.k.a. a price increase)… And yes, Spotify did just that last week.

The price rise is arguably overdue; perhaps Spotify, as one of the leading music streaming services, was sated in leisure for too long. But I’m curious to see whether this prompts labels to turn the screws for a greater payout.

As to their financial updates… it probably speaks to why the major labels are getting restless. On a high level, the top-line stats look good: more paying users, more active users. The problem is that when you dig a little deeper, it becomes clear that more meaningful metrics like the Average Revenue Per User (ARPU) show a continued decline, with ad revenue (derived from the free tier users) increasing.

Is it a race to the bottom?

The writing is on the wall: this current model doesn’t really work anymore, for anyone, no matter how positively Spotify tries to paint its results. That’s the negative. The positive lies in the potential to find new models, and to reexamine what drives that value connection between fans and bands.

Time waits for no one, and that includes B2B marketers! While our underlying go-to-market principles don’t change much, and potential customers are driven to us by the same things, the way that they get to us changes. And if we’re not keeping up, they’ll find their way to someone else instead. How are you adapting so you don’t fall behind?

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 Draw in Customers with Reputation and Relationship appeared first on Virtual Causeway.

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How often do you mix up your routine? There’s something about getting outside your usual comfort zone, or work environment, to mix things up. You’ll see things in a different way.

I had the privilege of spending some quality time with two people I admire greatly last week – both CMOs at fast-growing tech firms. Spending time with @garyamaral and @darrylpraill was invigorating, as it gave me the opportunity to hear what keeps these guys up at night – and what tech trends I need to follow. These successful leaders just don’t stop thinking about tomorrow!

Give this song by Fleetwood Mac a listen with me as we see what the experts are saying this week…

How Much Cash Do You Carry?

If you’re like me, you don’t carry much cash – the pandemic has made us wary of cash and much more comfortable paying by other means. Do you use Apple or Google Pay? It took just a little while longer than expected for the iPhone to become a wallet – but Apple’s patience is slowly paying off.

What about your customers? One thing that many start-ups forget is that cash-flow is king. SaaS companies that originally marketed their services as a monthly subscription are all pushing for annual (up front) payments! Do you make it easy for your customers to purchase your solution? Do your teams think about payment terms in their negotiations?

A Return to Normal?

The media has been inundated with stories of a return to normal, to what once was, before the pandemic. But what are we really seeing?

People aren’t going to the movies as anticipated – box offices haven’t returned to pre-pandemic levels. Last week, Cineworld warned there had still not been enough major releases to attract cinema audiences and that this is impacting admissions.

And we’ve recently heard that streaming topped cable TV viewing for the first time in July! From Bob Lefsetz:

Streaming services captured 34.8% of total U.S. TV viewing time during the month, while cable TV attracted 34.4%, the ratings company [Nielsen] said in a release published recently. People spent 23% more time streaming content than a year earlier and 9% less time watching cable.

A return to normal? Just the opposite! We’re seeing things in a different way. According to Bob Lefsetz, it’s not the old normal, but a completely new one, and the key definer of this new normal is that it keeps changing. Beware of those who try to convince you to live in the past. It might be good for them, but it’s usually not good for you, and by not disrupting themselves, media and corporations end up having to play catch-up in the future, or losing altogether.

Yesterday’s gone, but there’s plenty to keep us occupied today. So don’t stop thinking about (and planning for) tomorrow, and keep yourself and your business at the head of the pack.

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 Disrupting Your Pattern appeared first on Virtual Causeway.

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This time of year can be tough for business. Many take vacations now to enjoy those hot, hazy days of summer. But September (and the end of quarter!) is right around the corner. How do your sales teams deal with all the people on vacation?

Give this song by The Raconteurs a listen with me as we see what the experts are saying this week…

The Latest Warnings from Tech

You’ve probably seen the latest news about Google and their warning of ‘blood on the streets’ if employees don’t improve performance. And, of course, warnings from Facebook recently. When you add in any recent layoff announcements in tech, things seem pretty grim.

But are they? Should we be surprised that Google is holding their sales teams accountable to hit their numbers? Shouldn’t we be expecting our employees to be performing no matter the economic climate?

If we believe the media and the marketing spin of many vendors, then we’ve got a little situation and are heading into some difficult times. So how can we take advantage of the economic climate and grow? Here are some quick resources for you:

• Marketing During an Economic Downturn
• 5 Ways to Gain Market Share During a Downturn
• Selling In a Recession

There are a lot of resources that can help you give your problems your consideration. Hopefully, these ones can act as a starting point and help you keep your head and team in the game.

Social Media Trends in American Teens

There’s a new survey by the Pew Research Centre into how American teens use social media. The music industry would be advised to look at these trends, too. And what lessons can we learn for B2B?

The survey (n=1,316 teenagers) confirmed what everyone suspected about their social media habits.

• 95% of teens have access to a smartphone, which is up from 73% in 2014-15.
• 92% say they use the internet “almost constantly.”by
• 95% of Americans 13-17 use YouTube. Three-quarters of them use the site daily, with 1 in 5 saying they use it “constantly.”
• 67% use TikTok with 58% signing on daily.
• 62% use Instagram (That’s up, but it used to be ahead of TikTok).
• 59% use Snapchat.
• Only 32% are on Facebook (down from 71% of teens in 2014-15).
• 23% use Twitter.
• 20% are on Twitch.

And Tumblr? It still exists, but only 5% of teens use it.

Could any teen give up social media? A full 54% say, “It would be hard.” The full report can be found here.

These are interesting trends to track for B2B – how will they impact YOUR buyers’ behavior? They may be teens now, but soon enough they’ll be holding all the information and making buying decisions – so monitoring these trends as they head for those positions should prove to be a boon in the end.

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 Thriving in a Sales Wasteland appeared first on Virtual Causeway.

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In music, counterpoint is when two or more musical lines complement each other but act independently. Sometimes I see sales and marketing the same way – connected yet marching to their own rhythm. The key is to figure out how you can bring them together to produce a great result!

Give this great example of counterpoint by Franz Ferdinand a listen with me as we see what the experts are saying this week…

Aligning Sales & Marketing – Price Increases

With costs increasing over the past couple years, a lot of us are in a position where we need to consider raising prices. (To all my clients, don’t worry – this is NOT notice of an increase!)

I’ve been reading a great book lately by Jeb Blount, Selling the Price Increase. According to Jeb, effective price increase campaigns are far more successful at boosting top-line revenue and generating profits than acquiring new customers.

Have you gone through this process before? Or maybe you need to but are dreading it. HubSpot outlines their experience and advice in announcing price increases to customers:

1. Contact them directly.
2. Let customers know well in advance.
3. Remind them that higher prices mean higher quality.
4. Explain the reasoning behind the price increase.
5. Ensure the entire organization is aware of the price increase before announcing it to customers.
6. Allow customers to reach out with further questions or concerns.

Seems simple, right? Not always common sense to everyone. HubSpot also provides template emails/letters for communicating the price increase – take advantage, and maybe your customers won’t be leaving next time your prices have to go up.

What’s Behind the Ticket Price Increases

Just like the price of gas and the chaos at airports, the cost of concert tickets is a global issue. But what’s behind the spike in the price of an average concert ticket? Billboard describes the factors:

• Rising expenses for the artist – roadies, gas, trucks, and other materials. Inflation hits them just like everything else.
• Profits are being split differently – artists are now asking for more and taking more of the profit.
• Promoters have had to find money elsewhere, including higher service, order processing, and facility fees.

Don’t you know? Demand is also higher in this post-COVID world, resulting in parking and concession prices increasing. And if all that weren’t enough, many artists get paid in USD – so as the dollar surges, many other currencies have less purchasing power.

But having said all that – will it limit the number of concerts YOU attend?

In the B2B world, we have to be strategic in how we inform our customers of price increases. But in the live music world, ticket price increases can be dropped like a bombshell and we’ll still pay up. Perhaps the lesson this time is to NOT follow suit.

New Dynamics in Marketing & Sales – Podcast

Glenn Schmelze’s podcast – Funnel Reboot – has a ton of useful B2B information. Apparently, even the episode I was on! We talked about how marketing can (and needs to) understand how new sales dynamics are affecting us – come on, give it a listen!

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 The Balancing Act of Price Increase Campaigns appeared first on Virtual Causeway.