Make A Lasting Impact

The Difference Between Target Account Development and Golden Spike Hunting

Wed, 03 Jun 2026 18:56:33 GMT

Most companies focus on filling their marketing and sales funnels with opportunities. Sustainable growth, however, often comes from a handful of transformational wins that open new markets, create new capabilities, and generate years of follow-on business. I call these Golden Spike opportunities .

The inspiration comes from history.

In 1869, the ceremonial Golden Spike joined the Central Pacific and Union Pacific Railroads at Promontory Summit, Utah, completing America's first transcontinental railroad. That single event connected markets, accelerated commerce, and created opportunities that had never before existed. Eastern manufacturers gained access to western markets, western resources flowed east, and competition fueled innovation.

Great companies create their own Golden Spikes .

A Golden Spike sale is not simply a large order. It is a strategic opportunity that helps a company expand into a new market, launch a new service, establish a new partnership, or significantly deepen its position within an existing market. Often, it involves applying existing capabilities in slightly different ways to solve bigger customer problems.

In my experience, Golden Spike opportunities are typically three to five times a company's average deal size while also meeting or exceeding gross profit objectives. They may come from direct or indirect selling channels and do not necessarily originate with large companies.

Finding and winning these opportunities requires a different mindset than managing day-to-day sales activity. Successful Golden Spike hunters possess:

Patience and a long-term perspective.
A disciplined research process.
Strong relationships with connectors, mavens, and key influencers.
The ability to identify an internal coach who wants them to succeed.
The skill to navigate the business, technical, and political dimensions of complex sales.
Excellent time management and peripheral vision.

Golden Spike hunters keep an ear to the ground. They build relationships long before a buying cycle begins and look for opportunities that competitors never see.

So, how does this differ from Target Account Development ?

Target accounts are organizations that closely match your ideal customer profile and can provide recurring business over time, including the occasional Golden Spike opportunity. Developing target accounts requires a focused direct-selling strategy designed to build relationships and generate a steady flow of business.

Golden Spike Hunting is different.

Target Account Development answers the question: "Who should we pursue?"

Golden Spike Hunting answers the question: "What transformational opportunities should we create and win?"

The two strategies complement one another, but they are not the same. One identifies the right organizations to pursue. The other seeks the opportunities that can materially change the trajectory of the business.

As you think about your own growth strategy, consider these questions:

What type of Golden Spike interests you—an existing product in an existing market, an existing product in a new market, or an entirely new product or service?
How long does it typically take to uncover a Golden Spike opportunity?
How much time is required to nurture and close one?
How many opportunities must be found to win one?
How many Golden Spike does your company need over the next three to five years?
How much time and organizational commitment are you willing to devote to finding them?

Most companies have a target account strategy.

Far fewer have a Golden Spike strategy.

If your long-term success depends on winning a handful of game-changing opportunities, perhaps it's time to bump your targeting efforts up a notch.

Happy Hunting.

Win/Results Produce a Very Powerful Sales Conversation

Thu, 28 May 2026 17:18:45 GMT

Win/Results is a Power Base Selling concept. The strongest sales conversations connect the two.

Win = the personal benefit to the buyer as an individual
Results = the business benefit to the organization

Results = Company Impact - rational business case with organizational outcomes

Increased revenue
Lower costs
Higher productivity
Reduced risk
Improved retention
Higher margins

But buyers rarely make a decision based only on company outcomes. They’re also subconsciously asking:

“How does this affect me; will this make my life easier?”
“Will I look smart; will this help my career?”
“Will this reduce pressure; will this protect me from failure?”

Win = Personal Impact - emotional and career dimension of individual motivations

Recognition
Promotion potential
Less stress
More control
Political credibility
Saving time
Avoiding embarrassment
Looking strategic to leadership
Hitting bonus targets
Job security

You May Have a Marketing Title …

Tue, 18 Oct 2022 19:17:21 GMT

But You are Probably on the Sales Team

I believe that CEOs subconsciously select either a sales or marketing method for leading their companies based on their history, comfort zones and competencies. Sales personas are reactionary while marketing personas can be either passive or dynamic. Passive marketers support the sales process. Dynamic marketers balance long-term and short-term planning and provide an environment where a sales process will flourish. Each of these three methods can be effective. The key is to understand your persona and then to be the best you can be when executing that method.

Sales-driven companies have a short-term planning horizon and focus on closing. They implement market penetration tactics, which may lead to peril in mature industries. They operate under the umbrella of a market maker or follow a market leader. They find it difficult to differentiate themselves in any way other than pricing. Casual nurturing of customers, prospects, and partners results in delicate relationships and loyalties. They lack the skills to develop meaningful new products, services, and markets. As marketing novices they are guided by competitor moves and financial or operational pressures rather than being driven by a solid marketing plan.

Passive marketers are marketing apprentices who may evolve to become marketing practitioners . For them, product and market development mean incremental changes to existing products and markets. When they see storm clouds on the horizon, they are not skilled at addressing them. Research is limited to gaining insights if their sales teams stay in touch with customers, prospects, partners, and competitors. Marketing Assisted Selling and Field Marketing support the sales process.

Dynamic marketers are true believers in becoming marketing masters . They have the patience and determination to thrive outside the box of traditional category thinking. Their growth mode attitude and competent research skills consistently fuel their business development process to add new value through frequent incremental change along with regular product and market innovation. Their partner networks enable a broader horizontal and vertical path than they could traverse on their own. They clearly articulate a unique value proposition in simple terms. They nurture customer lifetime value and their profit margins are higher than sales driven companies. They build sustainable customer experiences before and after transactions – not only when a sales opportunity is in the funnel. Solid business acumen distinguishes their people during conversations that relate to a buyer’s personal and business needs. They have a long-term planning horizon and lead by communicating a clear vision, along with a focus on goals and sustainability. Their CEOs influence this culture by strategically allocating resources and through persistent mentoring of management and staff.

Your Opinion is Important

Do marketing cultures outperform sales cultures? Please email your comments to me .

Account Based Marketing Tops Key Account Management

Tue, 03 May 2022 16:08:12 GMT

Developing and Managing a Customer Asset Portfolio is the Goal

Key account management is always “ground under repair” when the executive sponsorship, strategy, patience, perseverance, skills and KPIs necessary for nurturing these assets are missing from the program. Instead, Account Based Marketing [ABM], a sustainable strategy for managing and developing customer assets, will elevate your customer portfolio to a new level of ROI when you manage it in a way that is similar to how you optimize other company assets.

A customer asset management team including members from sales, marketing, finance, support, engineering and R&D maintains a pulse on the health of the ABM program. They align customer facing resources and build peer level relationships with each account. They assign customers to multi-faceted account managers with the technical, financial and professional competencies required to develop and execute account plans. They set goals for the number of Most Valuable Customers (MVCs) and Most Growable Customers (MGCs) in the customer asset portfolio over a rolling time horizon. They wisely ration resources based on account ratings.

Account Ratings Justify Resources and Standardize Terminology

The ABM Program Treats Each Account Differently Based on Its Rating

MVCs have a high lifetime value [LTV]. Along with a frequent, repetitive pattern of profitable multi-line/service engagements they provide referrals and collaborative assistance in designing new products and processes. A strong association with their brand enhances your brand. Your company is well-positioned within their organization both technically and politically. They tell you what you need to do. There is no guesswork.
MGCs have high potential to become MVPs. Your company is building a partnership that complements its technical position.
STCs [second tier customers] fit one or more of your targeted personas and meet minimum profitability requirements. They always consider your company when they have a need for your category of services, but they do not present an opportunity to become MGCs. You retain them through marketing and contact center programs and processes. Sales reps may become engaged with sales ready leads [SRLs].
Below Zero Customers (BZs) are price shoppers with a low credit rating and have no desire to build a relationship with your company. They do not justify the expense involved in serving them. The goal is to encourage them to become someone else’s customers.

What Does “Reaching the Next Level” Mean to You?

Fri, 22 Jan 2021 20:06:56 GMT

Quantum Physics Concepts Can Guide Your Business Leap

Companies that only prosper when their economy is on an uptick will struggle when their industry matures or declines. Successful business leaders know that what got them to where they are today won’t get them to a higher level. They believe that they must continually develop key aspect(s) of their business in order to thrive.

You may be granted a temporary visit to the next level, but unless you hire and/or train the right people and invest in processes that foster growth, efficiency and consistency, you will most likely slip back to the prior level. Staying power requires a valid growth strategy and a strong desire to prevent slippage.

Consider concentration and/or diversification growth strategies to guide your decisions.

Vertical and Horizontal Growth

Grow horizontally by expanding the product-market matrix through internal development and through acquisitions and alliances.

Achieve vertical growth by performing function[s] that were previously provided by suppliers.

Growth through Diversification

Concentric diversification leverages a competitive advantage to secure a strategic position in new categories. Examples include healthcare firms diversifying into the wellness industry and telecom companies diversifying into the Internet services industry.

Financial and risk reduction needs spawn conglomerate diversification that expands a company into unrelated categories. For example, Disney diversified from movies into theme parks.

Quantum Physics Concepts Can Guide Your Business Leap

In physics a quantum leap is a significant increase in the energy level of an electron that propels it to a higher orbit. There is no in-between state, so an electron can never exist between allowed orbits. When an electron successfully leaps to another level, it has the power to remain there, but if it doesn’t achieve the next allowed orbit, it will fall back to its original state.

This analogy applies to leaders who want to elevate some aspect of their business to a higher level of excellence. They need to establish a goal, get there and stay there. An expanded leadership style will most likely be required. Can the current leaders evolve or does the organization need to recruit new leaders from within or externally? Before you can strive for excellence, you have to “want to”. In fact, “need to” isn’t enough. You can be pressured to do something or learn something or know that something is the right thing to do, but if you don’t want to do it, you won’t make it happen.

Can you translate this thought into a methodology for elevating some aspect of your business to a noticeably higher steady state? An integrated marketing, sales and support environment will drive the need to elevate internal operational process in order to be able to deliver on your brand promise and to achieve customer satisfaction, revenue, productivity, market share and profitability goals. If you make the necessary changes to reach the next level, this will become your steady state. Otherwise, results will revert back to their original state and maybe even lower.

Target Marketing Will Make You More Effective

Thu, 10 Dec 2020 18:29:00 GMT

Target Marketing Tips

Many CEOs think that their company does well at target marketing. Although sorting customers by industry, geography, size and channel is a sales process prerequisite, this isn’t target marketing. Awareness of those who buy from you is only a step towards understanding the niches you serve even better than the products and services that you deliver.

Target Marketing Tips

Target marketing guides the design of the right products and services along with the optimal pricing strategy and distribution channels. It sets the stage for developing compelling content and messages that are delivered via the target audience’s preferred communication channels.

Carefully choose a target market only after fully understanding it and if your company has what it takes to capture mindshare. Then, design a targeting strategy [product, pricing, branding and channels of distribution and information].

Narrowcast over time to define other niches that are distinctly different from each other and for which you are well-suited to serve. Build unique profiles for each segment including economic drivers, what they do for their customers, how they make buying decisions, their response mode [growth, trouble, even keel, euphoric] and opportunities and threats that they face. Give each profile a name suited to its traits. It is a bonus if you create personas of key decision makers and influencers within each target market.

As you add more niches, decide if you need to adjust your targeting strategy:

Differentiated - separate targeting strategy for each segment
Undifferentiated – one targeting strategy across multiple segments
Concentrated - one targeting strategy for one broadly defined target market

Assign market manager accountabilities for overseeing target market portfolios. Train your customer-facing teams to be competent in each target segment and for their antenna to be continually tuned to learning, networking and participating in segment related activities.

Although challenging, designing and implementing an effective target marketing strategy will make it easier to influence your target audience and to participate the right deals with fewer surprises.

Puffery Will Derail Your Brand

Tue, 29 Sep 2020 16:27:33 GMT

Self-Promotional Content Turns Off an Audience

The content that we see and hear about a company and its products and services is often an unproven litany of self-testimonials and competitor comparisons. Anyone can say "we're the leader in the field ..." or “we deliver the highest customer satisfaction”. These image positioning statements are separate from actual customer experiences and will disable a branding strategy.

Conversely, character expression builds a strong brand identity that is earned through consistent small steps that produce authentic experiences and valid expectations. Exemplary core values should be the keystone of all messages and behavior. They help people to understand what motivates you to do what you do for them.

Character expression uses facts to reveal substantial differences that can’t be matched by others. Acquiring a consistent stream of fact-based statements must be part of your research process.

Image positioning exaggerates minor differences and uses invented evidence to support claims.

Character expression integrates long lasting design and messages while image positioning applies faddish style and messages.

Character expression adds value and educates through external content that complements a company’s own messaging while image positioners only publish company-centric content.

Character expression converts company leaders into mindful, caring people who must live up to their company’s core values and unique value proposition. Image positioning creates internally focused leaders with short-term perspectives.

Character expression earns repeat business and referrals along with raving fans and media who are the agents who put you on center-stage. I can’t think of a better reason to be in the character expression business.

Are Your Messages Aimed at You or your Target Market?

Tue, 25 Aug 2020 17:12:56 GMT

How Well Do You Understand Your B2B Buyers?

When my clients and I discuss ideas for marketing programs, campaigns and messaging, they often say “I don’t think I would go for that”, or “that doesn’t sound appealing to me”, or “if I were the buyer, this is what I’d want”.

Do you see a problem here? Is it possible that buyers might want what doesn’t appeal to you or that they don’t love what you love? Are your decisions based on your personal perceptions rather than the reality of your target audience? If so, you won’t achieve your goals relative to the product/service that you've designed, the campaign you've launched, the channels you’ve selected, or the price points you've set.

Classify Accounts Through Unique B2B Persona Profiles

The goal is to meaningfully differentiate each persona. Instead of categorizing by geography, industry and size, the real differentiation is determined by a persona’s growth mode, relationship attitudes, purchase criteria, decision-making processes and usage rates.

A descriptive name and graphic will help you to visualize each persona. Examples based on an account’s response mode include Gary Growth, Terry Trouble, Evan Even Keel, and Ellen Euphoric. Here’s how I apply this in my business . Examples based on an individual’s buying role include Eloise Economic Buyer, Ursula User Buyer, Terry Technical Buyer and Charlie Coach. Develop the right persona profiles for your business. Collect facts by interviewing focus groups and contacts within and outside your CRM database. Study surveys, sales analyses, campaign results, lead source reports, and email and social media stats. Start with three or four persona profiles that classify 80% of your accounts and prospects. Create a pie chart that displays the number of accounts by persona and another that displays revenue dollars by persona. If the “other” category is too large, develop more personas.

Marketing and Sales People Benefit from Personas

Armed with a unique value proposition tailored to each persona, marketers will be more effective in generating, nurturing and converting leads to sales-ready status. Personas will help them to discover information sources used by their target audiences and how to describe a solution to each persona. They will be equipped to objectively tailor content, messages and campaigns for each persona.

While assisting accounts in addressing opportunities and problems, sales people will anticipate the most common objections that a persona will raise during the sales process. They will be ready to tailor their opportunity management and account management techniques based on the traits of the respective persona as they manage more opportunities to closed-won results.

By John Bernardi

Triggered Marketing for B2B Companies

Sun, 02 Aug 2020 20:17:26 GMT

Triggers Guide Timely and Proper Reactions to Situations

Wouldn’t it be beneficial if you had an automated process that fosters consistent reactions to changes in status for a target market, account, prospect, contact, sales opportunity or campaign?

CRM, marketing automation [MA] and calendar systems can team up to send external contacts personalized messages that are based on their situation as well as to alert account owners [via email or text message] to issues and opportunities with suggestions based on the trigger.

Create simple triggers such as reminding a customer about an upcoming contract expiration and alerting the account owner if the customer does not respond or sending new customers an e-thank-you along with milestone messages tailored to their behavior and profile. Create sophisticated triggers that monitor and respond to each account’s purchase level formula based on product mix, run rate and average order size or send reminders to prospects in the funnel reminding them to follow through on their recent promise or messages that suggest a logical next step in their buying process.

Hopefully you can envision how you can tailor this concept to your business. Benefits include reducing account churn, improving closed-won rates, generating referrals, and optimizing lead generation and nurturing to sales-ready status.

Wishing Is the Difference Between Urgent and Important

Tue, 28 Apr 2020 15:54:23 GMT

Conscious Choice Is Your Key to Worthwhile Change

Each workday presents a series of urgencies that must be addressed because we have no choice. We resolve customer issues. We tend to our employees. Existing processes must be followed. Necessary repairs won’t heal by themselves.

How often do you wish?

That you could improve professional and technical skills through training and development – yours and your employees?
That you could improve and automate your business processes to enhance the customer experience and to create efficiencies?
That you could update your physical plant and facilities because this would elevate productivity, image and morale? This can be as simple as sprucing up the place or as complex as renovating the facility to be more in sync with your workflow.

Focus on Important Things During Challenging Economies

During challenge economies we can make the smart choice and carve out quality time to spend on our wishes. With fewer urgencies we can focus on important things. If you plan correctly, the amount of urgency will have been reduced after the improvements that you make.

Why Companies Buy Products and Services from a Value Brand

Sun, 29 Mar 2020 18:45:13 GMT

Brand Managers Should Plan Now for the Post COVID-19 Economy

As business owners navigate rough seas, many are scanning the horizon so that they can plan for the new normal. One potential area of improvement is to better align your business strategy with your target markets. If you think yours is a value brand, but have not marketed accordingly, now is a great time to consider a new strategy.

Many Who Claim to be Value Buyers Don’t Pass the Test

Not all buyers are value buyers even though they claim to be. Some buyers acquire prestige and others procure performance while price shoppers are always negotiating. Value buyers fear losing what they've worked so hard to create but also want to continuously improve image, productivity and financial results while confidently managing the associated business and personal risks. They make price/performance decisions based on the perceived or measurable worth of the product or service.

V alue Buyer Personas Range from Innovative to Pragmatic

A Pacesetter persona justifies more resources to satisfy their innovation needs
Effectiveness personas strive to do more with the same resources
Efficiency personas want to do the same with fewer resources
Economizer personas are willing to do less with far less resources

Value Buyers Have a Response Mode

Their reaction to how a solution will close the gap between their current situation and desired results will reveal their response mode.

Growth mode buyers are always looking to raise the bar. They tend to make longer term decisions.
Trouble mode buyers see storm clouds on the horizon. They make short term decisions.
Even keel buyers follow a status quo strategy that provides a false sense of security.

Value Brands Work Hard to Earn Value Buyer Attention

When value buyers believe that you care about them and that you understand their goals and interests, they may invest time learning about what you offer. They like being associated with a culture and principles that are similar to theirs. They align with causes that give back to the community. Consistently delivering on your brand promise will differentiate you from puffery brands.

When looking for a solution, value buyers rely on expert opinion influencers. They study white papers, success stories and partnerships. They pay attention to reviews and awards. Free trials, guarantees, convenience, and friendly, knowledgeable employees who communicate well make value buyers feel comfortable engaging in conversation.

Inspire Value Buyers to Want to Do Business with You

Help your raving fans to recommend your company by educating them on your unique value proposition, upcoming events and campaigns. Act rapidly when value buyers respond to your call to action. Anticipate needs based on their respective stage in their buying process – awareness through purchase.

You’ll know that you’re an effective marketer when you consistently earn the right to conduct consultative sales interviews. Ask provocative questions that are based on what you have learned about their industry, company, customers and best practices. Their answers will reveal their internal perceptions and most pressing concerns along with their persona and response mode. You can then objectively assess their situation and recommend the optimal approach for closing gaps. If they decide to pursue a business relationship with your company, they will associate your higher than median price with the measurable value that you offer.

Golden Spike Strategy Fosters Sustainable Growth

Thu, 20 Feb 2020 20:28:40 GMT

BizD Rainmakers Hunt for Golden Spike Opportunities

The ceremonial Golden Spike , driven by Leland Stanford in 1869, created the First Transcontinental Railroad by connecting the Central Pacific and Union Pacific. This resulted in ease and speed of travel and communications. Settlement around new western trade hubs drove market expansion for eastern goods and western raw materials were shipped east. Competition sparked innovation such as upgrading from iron to steel, refrigeration cars, and safer, more efficient braking and suspension systems.

Here’s my analogy that presents a Golden Spike BizD strategy as an impactful way to create a sustainably prosperous company.

Golden Spike hunting helps companies expand into new markets, develop new products or services and further penetrate existing markets through large sales of slightly modified existing products and services. The ability to find, nurture and manage Golden Spikes requires patience, diligence, peripheral vision, business acumen and insight, and exceptional time management. Golden Spike rain makers have a constant ear to the ground. They network with connectors and mavens and follow a solid research process. They are intuitive and comfortable with a long-term horizon while completing regular business tasks. They are well connected with account managers who can introduce them to Golden Spike sources within their customer base and with external partners who can introduce them to new Golden Spike sources before their buying cycle begins. They search inside the buying organization for a coach who wants them to win along with the person whose input is always sought by senior management. They facilitate peer-to-peer problem solving along with business, technical and political team selling.

Is There a Role for Golden Spike Hunting in Your Company?

What sort of golden spike interests you – existing product/market, new market or new product?
How long does it take to find a golden spike opportunity?
How long does it take to nurture and close one?
How many need to be found in order to close one?
How many do you want to win?
How much time and resource are you willing to devote to golden spike hunting?

Happy Golden Spike Hunting!

Company Subject Matter Experts are Hidden Gems

Sat, 14 Dec 2019 18:05:32 GMT

Develop Experts in Niche Areas That are Important to Customers

Regardless of what your tag lines says, your company’s brand identity is defined by how well you deliver on the promises you make. Reinforce your brand identity through the experts who work for your company. They can create unique value by advising people who want to save time and minimize risk before making decisions.

Brand Your Experts

Link to expert bios published on your website – in proposals, in 1to1 communications and in online content.
Create flyers about each expert to be used as event handouts.
Publish newsworthy PR about your experts.
Experts should publish personal blogs and post on social media.
Trade associations value industry experts who speak at conferences and author articles for their trade publications. Your experts should leverage this opportunity.
Proposal executive summaries should identify the experts who will participate in each project and how the customer will benefit.

Experts Attract Experts

Retain your experts by making them feel valuable and appreciated. Promote them like rock stars. Have them mentor younger employees as the next generation of experts as part of your succession plan. You will attract other experts who want to be part of something excellent.

Sales Dashboards

Tue, 12 Nov 2019 17:59:23 GMT

Management and Motivational tools

Sales Reps, Sales Teams, Sales Managers and Leaders Focus on Keys to Success

Dashboards, displayed on desktops, tablets, smart phones and wall mounted monitors, are management and motivational tools. Leading KPI metrics drive short term adjustments during a planning cycle. Lagging KPI metrics provide information to be leveraged when updating sales processes or creating the next sales plan or campaign.

Leading Indicator Sales Dashboards

Sales Process

Time Spent

Researching
Networking
Account development
Refreshing neglected accounts
Complementary selling
Opportunity management

Opportunity Development

Number of referrals received by sales reps
Number of approaches made
Number of sales interviews conducted
Number of site visits/demos completed
Number of proposals delivered

Sales Funnel Health by sales rep, sales team and product line

Number and value in each stage
Top opportunities in each stage
Stuck opportunities in each stage
Recycled SQLs and opportunities

Leaderboard

Deals by sales rep and product line – rolling 3 months
Quota Attainment – rolling 3 months
Win/Loss/Abandon by sales rep and reason
Forecast accuracy – QTD and YTD

Lagging Indicator Sales Dashboards

Closed-won

By lead source
By type – repeat business, new business, add-ons, services
By product
Average deal size
Average sales cycle

Vs. Competitors

Closed-won
Closed-lost

Marketing Dashboards

Mon, 04 Nov 2019 19:09:46 GMT

Real-Time View of Leading and Lagging KPIs

Individuals, Teams, Managers and Leaders Focus on Keys to Success

Dashboards are displayed on desktops, tablets, smart phones and wall mounted monitors. Leading KPI metrics drive action during a program or campaign. Lagging KPI metrics provide information to be leveraged when creating the next plan, process, program or campaign.

Leading Indicator Dashboards

1. A Marketing Funnel dashboard presents the number of entries and dollar value, and length of time in each funnel stage [suspects, prospects, recycled sales opportunities and MQLs]. It compares the number of new funnel entries to the number of Sales Qualified Leads [SQLs], losses and abandons that exit the marketing funnel.

2. For Campaigns in Process [strategic and tactical], the dashboard displays in-process participation and early stage CTA responses.

3. A Conversion Rate dashboard profiles the time it takes for marketing qualified leads [MQLs] to enter the sales funnel.

Lagging Indicator Dashboards

1. Close Rate dashboards present marketing influenced sales opportunities and the number that become closed-won deals.

2. For Campaigns Completed [strategic and tactical], the dashboard presents CTA and ROI results.

3. The Lead Source Analysis dashboard traces the number and dollar value of MQLs, SQLs and Closed-won deals to their original lead source.

Existing customers – repeat business, new business
Channels – sales, contact center, distributors, online [website, social media, SEM, etc.]
Referrals – employees, customers, partners
Campaigns – strategic and tactical
Place Advertising – site signs, vehicles, billboards, other venues
Space Advertising – digital and print media

4. The Online Marketing dashboard presents CTA results, top content and number of MQLs from websites, Email, Video, Blog, Live Chat, Social Media, and online advertising. Website performance also presents Goal Completion Rate (GCR), traffic sources [direct, referral, organic keywords, campaigns], and landing page performance.

5. The Content Marketing dashboard presents the number of downloads, #GCRs, #sessions, bounce rate, and time on page for strategic content.

Tips for Fine Tuning Your B2B Strategy – Issue #3

Tue, 29 Oct 2019 15:47:00 GMT

Support Your B2B Strategy with a Portfolio of Smart Tactics

Leaders avoid status quo thinking. They continuously apply ideas for elevating a feature of their business to the next level. This issue offers new ideas for you to consider in nine “smart tactic” categories.

1. Always Be Looking for Ways to Improve the Customer Experience [CX]

Create a favorable first impression by teaching new customers how to get the most from your business relationship. A thank you letter from a company officer provides contact information along with a private website link to the launch meeting agenda, future status meetings and information related to important processes such as order placement, invoices and how to request warranty and maintenance services.

2. Continuously Innovate

Develop an inventory of business processes that impact customers. Grade each process on its degree of excellence. Improve each process and automate where it makes sense in a prioritized fashion.

3. Apply Intuitive Sales Competencies

Complex B2B purchase decisions involve multiple buying influences and a formal process. Strengthen relationships when you’re not doing work for key accounts. Understand their organizational and personal needs and wants. Add this information to your CRM database and use it to always have a “next step” in your account development process. You’ll be rewarded for this diligence.

4. Account-Based Marketing Drives Repeat Business, New Apps and Referrals

Invite a SME as guest facilitator for theme-based forums. Customers will learn from each other by sharing their approach for solving a problem and the results that they enjoyed.

5. Indirect Marketing Will Optimize Lead Generation

Buyers are more open to ideas they receive from their influencers than what you say to them. Build rapport with influencers in each target market. Optimize ROI by investing 80% of your indirect marketing energy on influencers and 20% on innovators and early adopters.

6. Complementary Vendors Contribute to the Total Solution and Provide Referrals

Coach complementary vendors and channel partners to deliver an excellent customer experience when they offer your products and services. They will be loyal to you when it comes time to influence a buyer.

7. A Strong Business Acumen Sets You Apart From Competitors

Conduct sales interviews to understand a buyer’s situation, the challenges they need to overcome and the results they want to achieve. Then, apply StorySelling, a very powerful technique that helps buyers to envision receiving similar benefits that you refer to in a success story that connects your solution with their situation.

8. Predict Success

When employees and partners consistently contribute valuable information and also take the time to advise you about what competitors are doing, you’ll be confident that they are vested in your business.

9. Improve Success

After each important engagement schedule a Quality Review that compares your proposal with the actual result. You will also gain valuable customer insight into your competencies, competitive advantages, logical next steps and gaps that need to be filled so that you can do better next time.

Would you mind sharing ideas that have worked for your business?

Earlier Issues Issue #1 Issue #2

Customer Expectation Survey

Thu, 05 Sep 2019 15:49:32 GMT

Great Way to Eliminate Buyer’s Remorse

Many companies conduct customer satisfaction surveys after a product or service has been fulfilled. But why don’t companies conduct a Customer Expectation Survey before the product or service has been delivered?

For repeat customers you can thank them for returning, ask why they selected your company for a repeat performance and learn what you can improve upon this time Vs. last time.

For new customers you have an opportunity to expand upon the first impression that enabled you to win the business.

This is a great way for you to build emotional attachment to your company and its brand.

Tips for Fine Tuning Your B2B Strategy – Issue #2

Wed, 21 Aug 2019 17:31:36 GMT

Smart business leaders prevent status quo thinking by implementing tactics from their portfolio of ideas for elevating some aspect of their business to the next level. In this issue I offer one new idea for you to consider in each “smart tactic” category.

Support Your B2B Strategy with a Portfolio of Smart Tactics

1. Always Be Looking for Ways to Improve the Customer Experience [CX]
It’s easy for people to say nice things about you, but until you achieve your monthly objective for the number of referrals received from existing accounts, you cannot score a CX grade of “A”. Early in the relationship building process subtly inject “referrals” as your key lead source. When you receive excellent grades in surveys and quality reviews you have earned the right to ask for referrals.

2. Continuously Innovate
Improve the profitability of the mature slow growth areas of your business by bringing in-house some of the services that you have been buying from external providers. This is called vertical growth.

3. Apply Intuitive Sales Competencies
Differentiate the competencies required to win the first new deal from a new account Vs. expanding presence in an existing account. Processes will bolster efforts in both areas. Then, training and hiring can be tailored to enable the right people to perform well in each respective role.

4. Account-Based Marketing Causes Repeat Business, New Apps and Referrals
A sales representative can’t predictably be in front of each assigned account at the exact moment a buying process has or should have begun. Campaigns aimed at existing accounts should have a more familiar tone that acknowledges nuances of the existing relationship compared to campaigns aimed at suspects and prospects. Accounts will appreciate that your company consistently stays in touch with them regardless of who’s at the helm of the selling role. Marketing to existing accounts will complement selling to existing accounts.

5. Indirect Marketing Will Optimize Lead Generation
Find and participate in associations that are directly related to your category and the categories of your most valuable customers. Request opportunities to be a guest speaker at their events. There will most likely be a few people in the audience who will approach you to discuss an idea, problem or opportunity of interest to them.

6. Complementary Vendors Contribute to the Total Solution and Provide Referrals
Earn a greater mindshare with your most valuable complementary vendors by showcasing their skills and value proposition and referencing their contributions as part of your success stories and allowing them to participate in quality reviews that you conduct with your accounts.

7. A Strong Business Acumen Sets Your Employees Apart From Competitors
A strong business acumen helps a sales rep to earn the right to collaborate with customers to solve a business problem. And a strong business acumen also helps a sales rep to understand how their company wins. Sales reps must be trained to have the right business acumen for their job.

8. Predict Success
When employees are consistently self-educating themselves to develop the competencies they need to exceed your expectations, you’ll be confident that they are vested in your business.

9. Improve Success
If you create asset portfolios for your market segments including their respective customers, you will automatically think about ROI. Asset management begets actions to optimize the return on investment. Actually, these are your most important assets.

What's Your Opinion?

Have you’ve tried any of these ideas? Did they produce significant results? Would you be willing to share other ideas that have worked successfully for your business?

Earlier Issues Issue #1

Tips for Fine Tuning Your B2B Strategy - Issue #1

Sat, 27 Jul 2019 17:10:16 GMT

Support Your Strategy with a Portfolio of Smart Tactics

Smart business leaders continually update their portfolio of ideas for elevating some aspect of their business to the next level. At the right time, they implement the right idea(s) that eliminate status quo thinking within their firm. Does your portfolio include each of the following “smart tactic” categories? From the many ideas available, I offer one new idea for you to consider in each category.

Always be looking for ways to improve the customer experience . Take an inventory of all of your touch points [pre-sale thru post-sale]. Rank them in order of customer impact. Diligently upgrade them one at a time.
Continuously innovate . Add recurring revenue sources to your product mix [maintenance, certifications, support, licenses, training, upgrades, etc.]
Apply intuitive sales competencies for reducing buyer risk instead of lowering your price. Create a unique value proposition as the essence of your executive summary for each sales proposal.
Implement account-based marketing tactics in order to generate repeat business, new applications and referrals. Stay in touch with past customers with an effort based on the A, B, C rating you apply to each. I coach my clients to develop Most Valuable Customers [MVCs].
Indirect marketing tactics will optimize lead generation. Be discovered by company personas who are attracted to the specific brand UVPs that you have created for them. I target two personas .
Partner with complementary vendors who enable you to offer total solutions to customers. Solidify the partner relationships by developing them into a bidirectional referral source.
A strong business acumen sets your employees apart from competitors. Translate income statement and balance sheet basics to the needs you’ve researched for accounts and contacts.
Predict success . Monitor leading indicators in real time [ lead generation and sales funnel health ].
Improve success . Learn from lagging indicators [close rate, loss analysis, deal size, sales cycle length, average discount, # products per deal and the # of leads required to find a winnable opportunity].

What's Your Opinion?

Have you’ve tried any of these ideas? Did they produce significant results? Would you be willing to share other ideas that have worked successfully for your business?

Be Interruptible

Thu, 11 Jul 2019 16:52:07 GMT

Strong leaders are interruptible even when they're heads down doing something urgent or important.

Being interruptible [with a smile] does two things to strengthen your leadership position. First, it shows the other person how important they are to you. Second, it proves to others how competent you are because you can gracefully return to what you were originally doing and complete it as if you were never interrupted. A side benefit is that by getting away from your task or project enables you to return to it with fresh ideas.

The Power of Indirect Marketing

Tue, 18 Jun 2019 19:24:50 GMT

Creativity, Patience and Consistency Generate Sales-Ready Leads

Direct Marketing interrupts someone by asking them to take the next step towards buying a product or service. Techniques include sales visits and telemarketing along with text messaging, email and direct mail campaigns, online and social media ads, along with TV, radio, newspaper and billboard ads. If done well, direct marketing will quickly generate sales from a portion of those approached. It requires perfect timing and the right message in order to find someone who is willing to pay attention and share their ideas and needs with you. Some buyers welcome this distraction while others are impervious. If your direct marketing is in sync with your audience's expectations, it will be received without harming your brand reputation.

Indirect Marketing creates brand recognition, loyalty and sales in a non-interrupt fashion. Buyers learn about you from influencers and by discovering you through content that is authored for the various personas that you serve. Your content is presented through videos, website SEO, success stories, articles, publicity, blog posts, social media, product placements, referrals and introductions, and online reviews. Association participation, referrals and sponsorships are indirect marketing devices. Manufacturers apply indirect marketing through their distribution channels. The power of indirect marketing is that it attracts buyers who are apt to enter your funnel as sales-ready leads with rapid velocity towards closure and costing much less than direct marketing.

Indirect marketing requires creativity, patience and consistency. Therefore, successful companies employ a mix of both direct and indirect marketing that earns a high ROI when properly integrated.

A Profitable Sales Proposal Has an Excellent Executive Summary

Tue, 14 May 2019 15:58:51 GMT

A Unique Value Proposition Converts it to a Business Proposal

After a lead has been nurtured to sales-ready status, the right steps are taken by the sales team to move it through the funnel. They begin proposal discussions early, but only present their proposal when they are positioned to win politically, technically and financially. Otherwise, they’ll join a pool of sameness and compete on price instead of leveraging the business advantages to be gained from their solution.

An excellent executive summary will create an emotional attachment to your proposal if the buyer plays a role in co-authoring it. This story can be jettisoned from the body of the proposal and reviewed by senior executives who don’t want to spend time studying details. This enhances the buying team’s image and it will help the sales team to minimize competitors who want to compete on price.

Early draft(s) of the executive summary must develop the Proposal UVP that correctly associates your solution with the buyer’s business situation, challenge and desired results, which you learned about during the early stages of the sales cycle. For example, it should discuss the impact of your proposal on the lifetime cost that the buyer will pay for your solution through quality, reliability, maintenance, obsolescence, licensing and relationship features. You can also highlight the business benefits the buyer’s organization will derive from image, productivity and financial advantages related to your solution.

Each sales opportunity will require its own Proposal UVP even if you are managing multiple opportunities from the same buyer. Each opportunity has its own emotional, subjective and objective drivers that must be understood and addressed. Regrettably, only 20% of sales reps have a strong business acumen that they can use to translate their product knowledge into business benefits that will be derived by the customer.

A winning proposal must not only benefit your buyer, but it must also produce optimal gross profit for your company. Allowing yourself to be drawn into price negotiations Vs. transactional bidders will leave GP on the table. Product feature/benefit comparisons between vying competitors almost always wind up in a price concession.

Does this Proposal UVP concept make sense for your business ?

Running a Business and Coaching a Basketball Team are Similar

Wed, 13 Mar 2019 17:28:07 GMT

March 13: As March Madness approaches this got me to thinking about the similarities between running a successful basketball program and leading a successful business. Winning basketball programs are led by great head coaches who are both managers and designers with the vision to build a team whose style of play integrates rhythm on offense with continuity on defense. They build a solid staff of assistants and are always recruiting skilled athletes with strong basketball fundamentals. They coach players to instinctively create floor balance, move with and without the ball, exploit mismatches, know when to pass and when to take high percentage shots. Their teams perform as a seamless unit and communicate well. Superstars share the spotlight with role players.

Consistently successful businesses have great leaders who are also effective managers with a vision to design programs and processes that always deliver on the brand promise while achieving financial, productivity and image-oriented results. An excellent staff of senior and middle managers build a team with the right people assigned to precise roles and are always recruiting people who have the necessary character and technical and professional skills. Superstars share recognition with support teams and mentor rookies.

The Right Approach to Practice - It’s Not Micromanaging

Ever had an employee challenge you by saying " you're micromanaging me "?

The right approach to practice optimizes the chances to win through timely hoops at the end of the game. Think about the hours of personal development during the off-season and team development during daily practices throughout the season for the opportunity to play two 40-minute college games per week. The coaching staff ensures every team member’s understanding by breaking down each play and decoding goals into a set of individual responsibilities and a series of specific steps. Pros welcome the opportunity to participate in hours of film sessions listening to coaches and teammates constructively criticize their game and identify opportunities to improve it. Imagine if they viewed this as micromanaging?

The right approach to practice optimizes the chances to win through the ability to close a deal when the time is ripe. Business leaders provide coaching and training as essentials for continuous improvement. For example, successful sales managers travel with sales reps to visit clients and prospects. They are briefed on the goals and tactics planned for each meeting, keep quiet during the meeting and then help the sales rep self-critique the meeting afterwards. Imagine if top 20% of sales reps viewed this as micromanaging?

Define Your Own Economy

Wed, 20 Feb 2019 20:47:10 GMT

Your Company’s Economy Differs from the National Economy

Most small and midsize companies don’t need to be experts in fiscal and monetary policies that affect the USA economy. Instead, they are better served by leveraging the health, opportunities and threats presented by the economy in which their business operates.

Step one , define your economy based on microeconomics and macroeconomics factors.

Microeconomics

Internal Factors Help You Assess Trade-Offs of One Decision Vs. Another

Based on the demographic [B2C] or firmographic [B2B] health of your target markets, should you continue your penetration strategy or develop new target markets?
Consider the demand curve for your current product line. Do you have enough influence in your category to shift the curve to the right or do you have no choice but to maintain or increase share in a static market? Or, should you develop new products?
Based on the laws of supply and demand, does your production capacity present an asset or liability for successfully implementing your business strategy?
Do technology advancements enable you to further your lead over competition by reducing labor costs and raising process consistency to the next level?
What are the leading and lagging indicators for your business? Consider marketing and sales funnel health as leading indicators. Lagging indicators can be derived from your quarterly sales analysis along with close rate, deal size, length of sales cycle, average discount rate, # products per deal and the # of leads required to close a deal.

Macroeconomics

External Factors Affect Your Company, Customers and Partners

Local, state and federal regulatory policies and taxes will help you to determine where to expand your business presence.
Building permits, new business startups and consumer confidence identify healthy areas where you should direct your marketing.
What effect should inflation have on your pricing strategy?
Do interest rates enable you to invest in new technology, plant and equipment?
Do unemployment rates affect your ability to find the right people?
In which global markets can you compete by exporting?
What should you do if imports are eroding the profitability of your target markets?

Step two , now that you have defined your economy, add this facet to your ongoing market research process so that you can make timely decisions relative to growing your business and minimizing risk.

Marketing Assisted Selling Helps Deal Makers

Tue, 12 Feb 2019 16:31:00 GMT

Develop Your Marketing Competency to Reach the Next Level

Sales driven companies are slanted towards transactions. Their sales reps sell existing products to existing markets and are accountable for prospecting and account management. They rely on the “marketing department” for sales support and are not interested in developing or acquiring a marketing competency .

Sales driven companies apply basic marketing concepts that don't challenge their comfort zones. For example, customer experience management [CEM] is not a program, but contact centers offer customer support and sales support. Content marketing is not a program, but online and printed collateral support the sales process. They participate in events, direct mail and email marketing, social media, publicity and field marketing , but do a mediocre job of generating sales-ready leads. Influencer marketing and complementary selling are not programs, but sales reps are asked to network for referrals. Market research is not a competency but sales analysis helps them to understand account, segment and product trends. Account Based Marketing [ABM] is not a program, but account managers are assigned to key customers. They do not manage to marketing KPIs, but sales metrics provide the basis for compensation programs. CRM tools automate the sales process, but are not well integrated with CEM and marketing processes.

If marketing assisted selling is not producing the results you need to reach the next level, maybe it’s time for your company to begin its evolution towards marketing-driven status. Expand your horizons to innovate the changes needed to navigate lifecycle stages [introduction, growth, maturity and decline] and to make smart decisions for dealing with external opportunities and threats [social, economic, technological, competitive and regulatory].

Field Marketing Boosts Sales Rep Productivity

183:738022254 (John Bernardi) — Thu, 31 Jan 2019 17:52:09 GMT

Field Marketing Impacts Lead Generation through Account Management

Successful sales professionals consistently close profitable deals and manage a healthy sales funnel while being skillful at key account marketing, customer experience management and high-profile networking. High business acumen enables them to facilitate peer-to-peer relationships and provide market intelligence to the leadership team. Companies that provide this class of environment are able to attract and retain top sales reps who want to be the best that they can be.

Field marketing [FM] reps achieve program, campaign and research KPIs that make sales reps more efficient. They also serve as a reliable backup when sales reps are unavailable.

FM reps are located in field offices reporting to a marketing director with local accountability to a regional director. FM provides a growth path for future sales reps and marketing managers.

FM reps create awareness and gain permission to send relevant, timely and concise information to contacts in various stages of the buying process.
They partner with complementary vendors that contribute to a total solution and are a lead source.
They develop sales-ready leads that are acted upon in a timely manner.
They coordinate presentations, proposals, site visits and other opportunity management milestones.

FM rep post-sale responsibilities include retaining and developing second-tier customers. They research all customers horizontally and vertically to discover new contacts for the CRM database.