Fred Yee, CEO of ActiveConversion, was a recent guest on the TechnologyAdvice Expert Interview Series. The series, which is hosted by TechnologyAdvice’s Josh Bland, explores a variety of business and technology landscapes through conversations with industry leaders.
In this episode we discuss everything from CRM integration to data and analytics for marketers, as well as best practices for lead conversion.
Industrial companies are natural candidates to diversify their business. Unlike consumer product companies, industrials typically have a niche offering with a narrow market. This specialization may lead some to think that diversification isn’t feasible for industrials – but this does not have to be the case! With the right industrial marketing tactics, new geographies and even new industries can be accessible to industrial companies looking to diversify.
Response to McKinsey & Company’s: Building marketing and sales capabilities to beat the market
This spring, global management consulting firm, McKinsey & Company released ground breaking research showing that B2B (and especially industrial) companies with advanced sales and marketing capabilities consistently outgrow and outperform industry competition. Their 2015 study found that in those companies, revenue growth tended to be 30 percent higher for those equipped with advanced sales and marketing capabilities.
Referrals have long been the centerpiece of many industrial firms’ business models. Recent research showed that generating more referrals remains the top marketing initiative for professional services firms this year. But client referrals are no longer sufficient for firms looking to accelerate growth. While loyal clients will return and recommend your firm, buyers are increasingly turning online to research and identify the best firm to address their challenges.
In fact, in a new research study from the Hinge Research Institute, 81.5% of firms reported that they’ve received a referral from someone that was not a client. Why, then, did these individuals or organizations refer a firm they haven’t worked with? Because of that firm’s strong educational content and reputation and visibility in the marketplace.
Firms that are looking to generate more referrals need to rethink their traditional approaches to referral marketing and understand the three types of referrals. They need to refocus their strategies to meet today’s buyers where they search for information. Increasingly, that’s online.
Last week the 2015 Global Petroleum Show welcomed 50,000 registered attendees, and remained a popular destination even with the recent decline in oil prices. The Global Petroleum Show’s theme this year was – Reimagine. Reinvent. Reposition. – and offered a good reflection on the added pressures for companies to innovate and adapt in the current economy to stay ahead.
With 2015 GPS theme in mind, we’ve created a list of things that your company can do to Reimagine, Reinvent and Reposition your sales and marketing strategy to adapt to the current market.