June 2024 Ask a Fractional CMO

Instead of random acts of marketing… is there a better way?

Welcome to this month’s edition of the Ask a Fractional CMO newsletter - where NIM’s Fractional CMOs Jen Kelly & Nicole Croizier answer the most pressing marketing questions from B2B leaders. If you have a question for us, submit it HERE.???

This month, we’re tackling a question around the age old problem we hear about which is “how would we get away from random acts of marketing?” Our answer - the marketing strategy will guide you to where you need to be putting your marketing efforts so they align with your company’s goals - this is the only way to ensure that your marketing activities are supporting the business goals.

Out of the marketing strategy comes the clarity about what to do. This clarity and plan is the foundation of everything you need to have in place first before you're ready to effectively run any lead generation tactics.

Watch our video where Jen and Nicole dive more deeply into answering this question and give you valuable tips and insights on building the four pillars of your marketing foundation.?

At New Initiatives Marketing, we recommend making sure you have these four foundational pillars (which will come out of your marketing strategy)? in place before you begin marketing:

1. Positioning: It’s important to clearly define how your company is different from competitors and make sure you stand out in the marketplace. Effective positioning helps potential customers understand why they should choose your company, product or service over others. And note “we have great customer service” is not a difference. More on this later….
2. Customer Journey: This refers to understanding and mapping out the steps that customers go through from becoming aware your company exists to deciding to purchase a product or service. It's important to align this journey with customer preferences and behaviours to enhance their experience and increase conversion rates. For example, do they like to read white papers before they purchase? Do they consult their network for recommendations? Do they prefer demos? Do they convert after trying your free/trial offer? All of this information would have been discovered in the marketing strategy.
3. Sales Enablement: This focuses on providing the sales team with the tools, resources, and support they need to sell more effectively. It ensures that marketing and sales efforts are aligned and that the sales team can focus on their core activities without being burdened by the need to create or adjust marketing materials.
4. Thought Leadership: This involves establishing your company and team members as experts in your field. Through content marketing and other strategies, thought leadership positions your company as a trusted source of information and solutions, which can attract and retain customers. This is particularly ideal for company CEOs, your sales leaders, and your engineers -? just to name a few of the people in your company who can benefit from the thought leadership process.?

Sounds practical right?

However, we can’t get to #1, #2, #3 or #4 without doing client interviews.?

And interviewing your clients as part of our strategy process is the #1 thing we get pushback on.?

We hear “We don’t need to do your Customer Insights step of the marketing strategy program because…”

• “We already know what is good about our business”
• “We have X,XXX reviews on Google/G2/Clutch/UpCity/Glassdoor already praising our company”
• “We did our own customer survey recently, we have that information already”?
• “Our customers tell us all the time why they like us”

Unfortunately, leaving a review or answering a survey is not the same as an in-depth conversation about the business. If any of these reasons really provided you with the information you needed to gain an understanding of why your company is different, you wouldn’t be confused about what to do with your marketing, you wouldn’t be having a marketing problem and you wouldn’t have hired us to develop your marketing strategy. Here’s what client interviews can reveal and why we insist on them:

1. Surprising Insights: Client interviews often reveal surprising insights about what customers think sets your business apart from your competition. These insights are critical for creating strong positioning that differentiates you from competitors, which might not be apparent from internal perspectives or assumptions alone.
2. Avoiding Assumptions: Basing marketing strategies on internal assumptions can lead to inaccuracies. Companies often think they know why their clients like them, but customer interviews can reveal additional or different reasons that are important for tailoring marketing messages effectively.
3. Real Differentiation: Through client interviews, businesses can uncover unique selling points that they may not have considered before. This information is essential for establishing a marketing foundation that truly resonates with what customers value.
4. Constructive Feedback: Client interviews provide constructive criticism regarding what could be improved. This feedback is invaluable for making strategic adjustments that enhance the overall customer experience and product or service offerings.

If you don’t build your marketing foundation based on client interviews, you’re essentially making a “guess” at your positioning, messaging, and marketing tactics. As a result, you could be wasting valuable time and money on ineffective marketing and never really knowing why it’s not working or bringing in the results you really want and can really have.?

Watch our video where Jen and Nicole dive more deeply into answering this question and give you valuable tips and insights on building the four pillars of your marketing foundation.?

Is a Fractional CMO Right for You?

If any of the points above resonate with you, it might be time for you to engage a Fractional CMO. The best part is Fractional CMOs offer flexibility and expertise without the long-term commitment and expense of hiring a full-time CMO. You access high-level marketing guidance without the need for a permanent executive-level hire. Best of all, you get the instant senior marketing leadership you need, now. We encourage you to schedule an Ideal Next Steps call to see if a Fractional CMO is right for you. Just reply to this email and we can set up a time to talk.?

What's Your Question? Ask Us Now and Be Featured in the Ask a Fractional CMO Newsletter

Ask a Fractional CMO is the monthly newsletter where you get to ask your most pressing questions about B2B marketing.? NIM's Fractional CMOs Jen Kelly and Nicole Croizier will tackle two questions each month, answering them in their Ask A Fractional CMO video blog and newsletter.? You can ask your question now and review answers to past questions RIGHT HERE.

Do You Know It’s Time to Invest In Marketing But Aren’t Sure Where to Start?

When you know it’s time to get more serious about marketing, the options out there can be confusing. That’s why we created The B2B CEO's Ultimate Guide to Building a Marketing Team in Today's Complex Marketing World. This comprehensive 30+ page guide walks you through all the questions you need to answer first in order to make the right decisions around your B2B marketing, including:

1. When to Invest in Marketing: How do you know when it’s time to get more serious about marketing? What are the top signs that your current strategies are no longer working?
2. How to make the decision to hire in-house or outsource??
3. What are the marketing model options available for B2B companies at your stage??
4. Is it better to hire in-house, outsource to marketing agencies, or hire a Fractional CMO + marketing team??

They are all solid options, but what are the benefits and challenges of each, and when should each be used? More importantly, which is the right option for where your business is at right now?

Download the guide right here and let us know what your questions are by replying to this email.

We’re Here to Help - Book a Complimentary Marketing Strategy Consultation Now:

Our Fractional CMOs have worked as senior leaders in B2B organizations before at all stages of growth. We understand the challenges you face as a CEO and are here to answer your questions and guide you in making your right marketing decisions to support your next stage of growth.?

Book a strategy call with Jen RIGHT HERE. This is a great opportunity to share your business goals, challenges and where your marketing is right now, and get our expert feedback on what we believe your ideal marketing next steps are.

Ready to Get Started? Here’s How to Work With Us:

1. Fractional CMO & Expert B2B Marketing Team:? When it’s time to ramp up your marketing, we give you the senior marketing leadership and instant marketing team you need, right now. For more than 14 years, our team of senior marketing leaders and expert marketing specialists have been helping B2B companies with the strategic direction and real-world execution needed for practical, long-term results. Learn more or book a consultation now.?
2. Strategy First: Strategy First is a 60-day proven B2B? marketing strategy process. At the end of 60 days, you will have a client-focused and actionable 12-month marketing strategy that is ready to implement - either by you or our Fractional CMO & Expert B2B Marketing Team. Learn more or book a consultation now.
3. Customized Program: Not sure what type of marketing support you need? Then book a consultation and we’ll assess your needs and recommend a customized program or ? day workshop. Book your consultation now.