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It’s been raining here the past few days. It’s nice to see the warmer weather reappear, but hard not to let the gloomy skies get you down.

Do you notice any swings in weather impacting your B2B sales? What about your teams? Check out this cool song by The Dead Weather as we see what the experts are saying this week…

How Weather Affects Marketing

With new data, technology, and tools, we’re now able to leverage weather indications with much more accuracy. For example, when spring temperatures increase, hair removal products spike as bare legs hit the streets. At the same temperature, BBQ sales rise 200%.

Although rain can kill BBQ sales, lawn care purchases go through the roof – grass grows faster in wet weather. Even the presence of sunlight affects our moods and willingness to pay for products. We’re willing to pay more for certain products depending on sunlight conditions.

And when it comes to music lessons – bad weather can be a great marketing opportunity!

Does weather impact your B2B sales and marketing? How can we leverage some of those B2C strategies – rain or shine – to impact our B2B activities?

I wanna hear you! I’m certain there are some great examples of B2B companies leveraging this data successfully. I’d loved to know what you’ve seen or done!

Marketing Lessons from Fender Guitars

What would you do if 45% of your customers were first-time buyers of your product and 90% of those buyers gave up on your product within the first year? Fender Guitars CEO, Andy Mooney, faced this exact problem as he took the helm of the legendary 70-year-old company.

The first thing he did was dig into the research to understand who Fender’s customers were – and three remarkable data points emerged:

1. Nearly half of all new guitar buyers are first-timers. 45% of every Fender guitar sold went to somebody who had decided to learn guitar.
2. Half of those new buyers were women.
3. Engagement with the guitar is a two-bump curve. People engage when they’re young, then fall off when they start having families. Engagement tends to spike again once the kids leave home.

Finally, Mooney did the math. The average lifetime value of a Fender customer is $10,000 in guitars, amps, and accessories. With a million new guitar buyers each year in English-speaking countries alone and that pesky 90% abandonment rate, simply doubling retention to 20% (200,000 committed players) opens up a billion dollars of new revenue opportunity!!

To address this opportunity, they told their customers, “I wanna teach you,” and developed Fender Play and Fender Songs – online services designed to solve the customer problems discovered in the research. Fender Play gets new players up and running quickly, while Fender Songs takes already-competent players and allows them to build playlists of songs they want to learn. It’s all made available at consistently high quality, yet the cost is kept low – at $42 annually it’s literally less than one live guitar lesson.

In stark contrast to the Gibson marketing flub we discussed last week, it seems that Fender is increasing engagement and building even more brand loyalty.

How are you following Fender’s lead with your own customers? Gonna take them by the hand and walk them to your house (proverbially, of course!) to foster that sense of community and loyalty to your brand.

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

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Now check this out: I received a fax the other day. That’s right – a fax.

I don’t have an actual fax machine, but apparently I’m still paying for an eFax service subscription (who knew?). I saw it in my inbox, and my interest was piqued. So I opened it. It was a product promotion I wasn’t interested in, but I still opened and read it. Definitely not the same ol’ marketing email overflowing my inbox!

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

The B2B Buyer in 2023

What does your buyer look like? Insider Intelligence provides details on what the B2B buyer looks like in 2023. Some highlights:

• 75% agree that the average buying cycle time has increased
• 59% of B2B buyers are aged 26-40

Before a B2B sales meeting is accepted, buyers go to the supplier’s site, attend webinars by the supplier, conduct research, and evaluate the supplier on peer review sites.

The first time I saw John Neeson from SiriusDecisions (now Forrester) speak WAY back in 2007, the trends he identified in the B2B space were:

• A 22% longer sales cycle compared to 5 years earlier
• More people involved in the sales cycle (3.5 more stakeholders than previously for enterprise decisions)
• More research being done by the buyer BEFORE even speaking to a vendor

Sound familiar? It seems like the same trends are being regurgitated every year!

What are you seeing in your organization? Is the B2B sales process becoming more involved and difficult, or is this just the same ol’ ball and chain?

Radio Still Rocks!

New data shows that we still love listening to the radio. Tuning is up since people started going back to the office!

Just over 3,100 Canadians were asked about their habits when it came to audio listening. Compared to spring 2021, things break down like this:

• AM/FM radio accounts for 39% of all listening, followed by YouTube and then ad-free streaming services like Spotify’s premium tier.
• Tuning on smartphones is up by 5% (27-32%) and by 4% on computers.
• In the car, radio’s share is up to 62%, largely because we’re commuting to work again.
• For freemium model music streaming, ad-free listening is up from 23% to 25%, while the ad-supported tier is down from 22% to 18%.

You know we just gotta say, incredibly, old-fashioned radio still wins!

Maybe it’s not the same as a resurgence in fax communications, but it does show that some of these old-school channels are still successfully reaching audiences! Maybe we should rethink the channels we’re using to contact our buyers. There’s a lot of B2B noise out there – how do you get in front of your buyers without winding up in the same ol’ situation??

As always, don’t hesitate to call me to brainstorm or just say hello – and feel free to fax me at 519-489-2713! I’d love to hear from you!

Looking forward,
Rick

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

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I was at a concert the other night. The singer, Edwin, told the audience it was five years to the day since they had last played at that venue. And then quickly followed up saying it’s really only been three years since we all lost two years of our lives due to COVID.

That got me thinking – is that how most of us feel? Have we lost two years of our personal and professional lives? I’d just like to reach the point where we’re looking forward and focusing on the NEXT two years.

Give this song by I Mother Earth a listen with me as we see what the experts are saying this week!

HubSpot sales trends – Not Quite benchmarks

I’ve spent much of the past two years highlighting findings from HubSpot’s benchmark data in these emails. Since they’ve stopped publishing those benchmarks, I found some other interesting B2B sales data of theirs that should help you as you plan for 2023.

• Top Sellers spend an average of six hours every week researching prospects.
• Need and budget are the two biggest factors in whether a prospect connects with a rep.
• 60% of customers say no four times before saying yes.
• 80% of sales require five follow-up calls, whereas 44% of salespeople give up after one follow-up attempt.
• 69% of buyers have accepted cold calls from new providers.
• 57% of C-level buyers prefer to be contacted by phone.
• 30% of sales leaders track scheduled meetings as a productivity metric.
• The average outside sales call will cost $308. Meanwhile, the average inside sales call costs $50.

Interested in learning more? There are tons more stats – you can see what you want here.

Not Quite whistling while you work

As many workplaces get ready for the holidays or have employee holiday events, you’ll hear music echoing through the office (or the home office!). We know music stimulates multiple areas of the brain and can help you focus and feel happier. But does it make you more productive? And if so, do different musical genres affect productivity differently?

While ambient noise is great for improving concentration and creativity, pop can help you accomplish tasks more quickly and with fewer mistakes. Classical music is also great for improving accuracy, and dance music can improve proofreading speed by 20%.

It kinda makes you think… Though music can help you get in the zone and drown out noisy distractions at the office, it’s sometimes beneficial to change the station or turn off the music completely. Learning new things requires your brain to remember instructions and facts, and listening to music with lyrics can interfere with your ability to process and retain new information.

In addition, if your job requires deep focus, it’s best to choose familiar songs, since new songs can surprise you and distract you from your job.

Do you listen to music at work? Do you use it to get pumped up or to mellow out? Hopefully, these blog posts help!

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 Reviewing B2B Sales Benchmarks appeared first on Virtual Causeway.

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First things first, why are we obsessed with Mondays? Monday mornings – the subject of many a song or story. Why such pain? Maybe it’s the rush to get the garbage out to the curb in time or to get the kids off to school. Or maybe the rush to get a weekly email newsletter (or blog post) written and ready to go before the work week starts!

Give this song by Imagine Dragons a listen with me if you’re also a believer in procrastination as a great motivator!

B2B for the Holidays

Second thing second, ’tis the season to scale back your marketing and prepare for 2023, right? Wrong! Getting high-quality leads and generating steady demand through this holiday season doesn’t have to be a struggle. Keeping your campaigns running is a great way to ensure steady lead flow and a predictable Q1!

As economic worries continue to trouble B2B execs, many companies are worried about price hikes, labour shortages, and cutting costs. Scaling back on your marketing activities can be short-sighted and detrimental to your 2023 pipeline. Your sales team is (hopefully) focused on closing those year-end deals – so marketing needs to pump up its efforts. The holiday season is a GREAT time to get in front of qualified leads. In the 25+ years I’ve been doing this, I’ve seen the proof!

Here are just a few sources of holiday B2B lead gen ideas – give them a try!

• Keep your B2B leads & sales flowing over the holidays
• B2B marketing content trends for the holidays
• Email marketing for Christmas

When HubSpot published their B2B benchmark data last year (Why did you stop, HubSpot? WHY??!?), it showed that response rates to marketing and sales conversations continued at a healthy pace in December and January. I’ll do my best over the next few weeks to share other data sources that can help you make your case… so you can show your team and make them a believer!

Spotify Billion Club

Last things last, in tech we like to talk about unicorns – those startups that are valued over $1 billion. What are the ‘unicorns’ in music streaming?

Check out this graphic illustrating all songs (by decade) that have been streamed over a billion times on Spotify (Imagine Dragons’ “Believer” was at 2.3 billion streams at the time of writing this post.)

So the next logical question is: how much do these streams represent financially to these artists? We’ve all read the stories outlining how Spotify pays much less per stream than many believe is fair.

If you’re interested, check out this calculator to see how much your favorite artist may have generated from those billion+ streams…

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 ‘Tis the Season to Keep Leads Flowing appeared first on Virtual Causeway.

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I’m excited. I’m off to a conference this week and going to see how ‘back to normal’ things are in the B2B event world. I’ll report back next week, but it seems the tables have turned.

In the meantime, give this song by R.E.M. a listen as we see what the experts are saying this week.

Blame the HubSpot Data

I’ve been keeping an eye on the HubSpot data the past few months, and I’m disappointed that it hasn’t been updated since February! Why? No idea. This data has been an important part of many marketers’ planning process since the pandemic hit! I hope they continue to update the stats – as I think this aggregate data is invaluable and can really help us spot trends!

So far this year, we’ve seen:

• Deals Closed took a dip early Q1, but increased again mid-quarter. I’d be interested to see which has continued: the up or the up-and-down?
• Sales Email Sends continue to steadily increase, but Responses are still hovering below the pre-COVID benchmark.
• Sales Calls and Conversations took an end-of-year drop (not that surprising), but have been working back up since.

What other trends are you seeing? Are you pining for the updates from HubSpot like me – or are you in the It’s not my thing so let it go camp?

Spotify Bangs Out Impressive Numbers

Whatever happened to #deletespotify?

Netflix stock tanked after the company revealed that it had lost subscribers for the first time. And some were predicting bad things for Spotify when it announced its financial results last week. Well – looks like the opposite happened. It seems Spotify was able to roll right over the Joe Rogan controversy on their ascent to top global streaming audio platform.

Spotify reported that it now has 422 million monthly active users (up 19% from a year ago) and 182 million people (up 15%) paying for the premium service. In Q1, Spotify added 16 million listeners – but only 2 million subscribers in the same period. Spotify blames that on the “wind-down of [their] Russian operations,” which resulted in 1.5 million disconnects.

Revenue was US$2.82 billion (up 24% year-over-year) thanks to increases of 23% in subscription revenue and 31% in ad revenue. There are also 4 million podcasts available on the platform, which is up from 3.6 million at the end of 2021.

And things look good for the future. Spotify believes it will have 428 million monthly users by the end of June.

Is this a platform you can leverage in your B2B efforts? According to Forrester Research, many marketers stuck with Spotify through all the turmoil. With this much reach and growth – I’d love to hear some of your strategies for leveraging streaming platforms for your marketing efforts.

Maybe it’s not your thing, or maybe you know it all too well. Either way, platforms like Spotify are on the up and up, and worth at least some consideration for your own marketing efforts.

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 Streaming Victor, Spotify appeared first on Virtual Causeway.

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I couldn’t come up with an intro this week. Not sure why, but it was tough. And I feel like I need to make it good since my colleagues did such a great job of covering for me last week. However – admitting my writer’s block is, in essence, creating an intro. A compelling one? You tell me!

Give this song a listen with me, and see how this band got over their writer’s block by writing a song about writing the song! (Too ‘meta’ for you?) Plus… who hasn’t pulled an all-nighter to meet a deadline – am I right?

Staring Blindly into Space

Sometimes you need some hard facts to help centre you and get you focused. If you want to increase productivity and revenue at your organization, you have to focus on metrics that matter.

Revenue teams have become increasingly more data-driven, which makes it easy to get bogged down in tracking every little data point. B2B Marketing Zone provides a guide to help you stay data-driven while avoiding data overload by focusing on four categories:

• Sales enablement
• Sales effectiveness
• Sales readiness
• Sales engagement

I like how these are defined and some of the tactical examples. Some are pretty standard (such as win rate, churn rate, and time to close), while things like impact to discounting, lead velocity rate, and contact instances per demo are some metrics I’ve seen used much less frequently.

Many organizations simply accept that these are qualitative metrics and don’t measure them. But if you’re looking to scale your teams, you need to build a strong data-driven process.

How do you track these categories? DO you track them?

Searching for Something to Say

Sometimes, as a musical artist, it’s better to let the audience fill in the blanks. Who hasn’t been at a concert where the singer stops singing and lets the audience sing the chorus? Those can be magical moments at a show and really solidify the bond and engagement between the artist and the fans.

Now, how about songs where the audience creates their own lyrics to complement the song? A great example of this is the song “Mony Mony” – most notably, Billy Idol’s cover version. Being a high school student in the late ’80s, I can remember every time this song came on, and the lewd lyrics that were sung in response to Billy’s chorus vocals. How did they start? How did it spread across the world?

Interestingly, Alan Cross has been studying the origin of these ‘special lyrics,’ and shares his fascinating findings.

This shows how a little bit of myth and legend can make something bigger than it seems. It adds all sorts of magic and mystique to the song and increases audience engagement. And ultimately, helps sell more albums for the artist!

Should I try to do some more? Maybe there is some way – a little nudge – that you can get your customers to expand on your service offerings (hopefully in a positive way) and increase engagement.

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 Make Your B2B Marketing the Stuff of Legends appeared first on Virtual Causeway.

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Take a deep breath in and lift your head to the sky… breathe out… do you feel that? Birds chirping, blue skies, fresh air – the first signs of spring are finally here! After what seemed like a never-ending winter, the temperature is rising and buds are beginning to blossom. As the end of Q1 draws near, how do you feel?

Take another deep breath and listen to this Pearl Jam song with me as we see what the experts are saying this week.

Benchmark Data, Closed Deals & Sales Activity

The latest HubSpot data gives us a good sense of the industry’s activity for Q1. And it looks pretty good. Is this the usual Q1 ramp, or are we seeing a larger trend? Quick snapshot:

Deals Closed rose to 24% over benchmark in February vs. 20% in January

Sales Emails & Sales Calls continued to increase

Sales Conversations showed a healthy increase to 53% over benchmark

Contact Growth dropped vs. January, but still 30% over benchmark

Are you seeing the same signs of optimism in your business? As more and more businesses re-open their offices, will the spending increase with it? How about marketing spend – have marketing mixes changed or started to shift?

Oh, if I knew where it was I would take you there…

Live Music, John Oliver, and Ticketmaster

Remember when Pearl Jam took on Ticketmaster? At the time, they were one of the biggest bands in the world, and they still hit roadblocks trying to avoid Ticketmaster’s hold on the live music industry. As a content producer, how careful do you need to be about your partners and your distributors?

John Oliver provided one of the best explanations of the current live music environment, and how Ticketmaster manipulates and benefits from the current supply chain in live entertainment. The layers upon layers of fees and reaching hands out grabbing things is mind-boggling!

According to Bob Lefsetz, we can’t blame Ticketmaster solely. You can’t trust the man behind the curtain, but you can’t trust those on stage either! The industry won’t change because everybody in the food chain likes it this way – entirely opaque, with Ticketmaster taking the heat instead of the acts. Yes, the acts, the promoters, the buildings, and Ticketmaster – they’re all making money, and Live Nation’s stock keeps going up.

As B2B marketers, how closely do we follow the business model of our distribution channels? Are we like these artists that feign ignorance as the system generates revenue for them – day in, day out accumulating?

I suggest you step out on your porch, see the world, and understand how your partners and distributors sell and engage YOUR audience and customers. If you’re ok with it, embrace it, be transparent. Otherwise – make a choice and a change.

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 Right Channel Partners – Trust ‘The Man Behind the Curtain’ appeared first on Virtual Causeway.

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I can take the cold. I’ve lived in Canada all my life, and even if I don’t like it, I should be used to the winter weather. What I can’t get used to is the darkness –  dark when you wake up, dark at the end of the workday. And you don’t realize how much you miss the sunshine until you have an oh-so-rare, bright, sunny day.

Give this song by the Black Keys a listen with me as we shine a little light on what the experts are saying this week.

HubSpot Data Shines a Light

The data from HubSpot has me a little perplexed. Closed deals are up significantly over January 2021, but created deals are much lower! Sales emails and conversations are way up over last January, as is contact growth.

So why are deals created so low? All of the sales focus was on closing deals? But closed deals were down over Q4 2021 – which I would usually expect in the beginning of the year, when typically activity is all about NEW opportunities. So where are they?

How will Q1 turn out this year? No one really knows where it goes from here but I do know I’ll be looking closely at the numbers to see how activity levels change over the next few months.

Timbiebs!

Have you ever had a Timbit? For the Canadians out there, these little donut holes have been ingrained in our lives and culture. And in November of 2021, Tim Hortons rolled out some special new flavours designed with Canadian pop music star Justin Bieber. These ‘Timbiebs’ caused quite a stir and people went wild for them… and all the Timbiebs swag.

According to Tim Hortons, this co-marketing campaign was one of the most successful traffic-driving initiatives in recent memory – resulting in unprecedented social engagement, merchandise sales, and increased appeal with younger guests.

How does this apply to B2B? Is there another brand you can partner with to expand your reach or increase awareness? Sometimes teaming up with just the right brand can grow your customer base, and the most unlikely of partnerships can help you go to places you used to go to reclaim some new or past customers and see the faces that you used to know.

What are some examples you can share?

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 Shedding a Light on B2B Sales Numbers appeared first on Virtual Causeway.

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I’ve been looking at a lot of data this week. Sometimes after staring at spreadsheets too long, I see these data points as a thousand points of light – what do they tell us? What trends do they reveal?

Give this song by Neil Young a listen with me as we see what the experts (and the data) are saying this week…

HubSpot CRM Data

It’s all about the data, right? In looking at the HubSpot data through December 2021, we can see some interesting results compared to previous months:

• Just about all sales and marketing activity was down in December – not a big surprise for year-end, and consistent with December 2020.
• Sales Emails Sent remain below benchmark, as they have since the pandemic began – though Responses continue to sit well above.
• While Deals Closed took a small dip in December with everything else, there was a drastic drop in Deals Created (down 90% from November!), bringing them the lowest they’ve been in 2+ years!

Some troubling statistics here – and we continue to see that an omnichannel approach to marketing is required to compete in today’s marketplace. Maybe there’s a warnin’ sign on the road ahead – what do you think? What are you seeing with your teams as we enter the new year?

A Man of the People? Neil Young, Spotify, and Numbers

You’ve probably heard the latest Spotify/Neil Young news (if not, you can get caught up here). Joe Rogan and Spotify may feel like Satan to Neil Young’s camp, but not to their own fans. Seeing how this has played out really got me thinking about audiences and target markets. You may remember I looked at Spotify’s ‘wrapped’ back in December, and Joe Rogan’s podcast was the top streamed for a second year running. So if Neil Young’s streaming numbers were higher, would Spotify have made a different decision? Of course!

Music subscriber market share data was released recently. Amazon Music once again out-performed Spotify in terms of growth (25% vs. 20%), but the standout success story was YouTube Music, growing by more than 50% in the 12 months leading up to Q2 2021.

YouTube Music was the only Western DSP to increase global market share in this period. It particularly resonates among Gen Z and younger Millennials, which should worry Spotify, as their core base of Millennial subscribers from the 2010s is now beginning to age.

How does this impact B2B? As always – make sure you’re targeting the right content to the right audience on the right platform. With competition on the rise, we’re seeing Spotify keep hope alive by assessing two opposing parties and making a business decision based on what the largest portion of their target market will consume (and where they have a vested interest).

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

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Congratulations on making it to December 2021! Some of us have had a rough time of it, others have been able to successfully adapt. Regardless – what can you do to keep moving forward and make it to the other side?

Give this Red Hot Chili Peppers song a listen with me as we see what the experts are saying this week…

HubSpot Data – I Don’t Believe It’s Bad

It’s time to look at the HubSpot data – one of my favourite things to do! How have things played out over the last year?

• While Deals Created and Deals Closed have seen ups AND downs, they’ve ultimately seen more ups, and are ending 2021 well above the pre-COVID benchmark.
• Contact Growth has also varied, but in the last month or so had a major uptick! Perhaps a result of the ‘Great Reshuffle’ of 2021 – fresh faces (and fresh points of contact) coming into a lot of organizations.
• Sales Calls and Conversations have seen steady increases monthly.
• Likewise, Sales Emails Sent have increased, but the Response Rates continue to drop.

How long will responses slide? I see a lot of people preach email outreach vs. phone, but these numbers indicate that email alone isn’t enough. It just brings us back to what we always talk about here at Virtual Causeway: the multi-pronged approach, with a combination of human AND digital touches!

Opportunity? Spotify’s Year-End Streaming Stats

Have you shared your ‘Spotify Wrapped’ yet? Well, Spotify themselves shared theirs! Do any of your top streams match up?

• Most-Streamed Artist: Bad Bunny (a repeat from 2020)
• Most-Streamed Song: “drivers license” by Olivia Rodrigo (who has two songs in the Top 5!)
• Most Popular Podcast: The Joe Rogan Experience (another holdover from 2020)
• Most-Streamed Throwback Song and Album: Both nabbed by Fleetwood Mac, with “Dreams” and Rumours

Coming in a close second to Bad Bunny is Taylor Swift. If you’ve been paying attention to anything she’s been doing over the last two years, then that shouldn’t surprise you at all. With so much buzz around her, she’s been able to reel in quite the audience of new and old fans alike.

Are there any ways your business can take advantage of a captive audience like that? Perhaps test out some content that taps into your target audience. Where is the opportunity for you? Don’t be afraid to think outside the box to reel in your own customers – stranger things COULD change their mind!

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 B2B Data According to the Great Reshuffle appeared first on Virtual Causeway.