B2B Marketing Mindset

One Size Fits All Approach: Beware of marketing firms or professionals who promote a one-size-fits-all approach to marketing. Every business is unique, and successful marketing strategies should be tailored to your specific industry, audience, and goals. If a marketing agency insists on applying the same strategy they use for all clients without considering your individual needs and circumstances, it’s a red flag. Effective marketing requires customization and adaptability to ensure your business’s success. Too Good to Be True Pricing: When a marketing person or firm offers pricing that seems too good to be true, exercise caution. Marketing services often require investments in time, resources, and expertise. If the pricing is significantly lower than industry standards, it might suggest the quality of service or results could be compromised. It’s essential to evaluate the pricing structure in the context of the value and expertise being offered to avoid potential disappointments down the road. A Lack of Transparency: Transparency is a critical aspect of any successful business relationship. If a marketing professional or firm is not transparent about their processes, fees, or performance metrics, it can lead to misunderstandings and mistrust. You should have a clear understanding of how your marketing budget is being allocated, what activities are being conducted, and how the results are measured. A lack of transparency can hinder effective collaboration and decision-making. Controlling Assets: Be cautious of marketing professionals or firms that insist on owning or controlling essential marketing assets, such as your website, social media accounts, or advertising accounts. Your business should retain ownership and control of these assets. Giving up control could result in difficulties if you decide to switch marketing providers in the future or if disputes arise. Ensure that you have ownership and access to all digital properties associated with your brand. Saying “Yes” to Everything: While flexibility is valuable, a marketing person or firm that agrees to every request without questioning or providing thoughtful recommendations may not have your best interests in mind. Effective marketing professionals should be willing to challenge your ideas, provide expert guidance, and make strategic decisions that align with your goals. Blindly saying “yes” to everything can lead to inefficiencies and ineffective marketing campaigns. Promising Immediate or Guaranteed Results: Beware of marketing professionals or firms that promise immediate or guaranteed results. Marketing outcomes can be influenced by various factors, and it often takes time to see substantial returns on investment. Unrealistic promises can indicate a lack of understanding of the complexities of marketing or a willingness to mislead clients for quick gains. A trustworthy marketing partner will provide realistic expectations and work diligently to achieve long-term, sustainable results based on a well-executed strategy. These red flags highlight the importance of due diligence when hiring a marketing professional or firm. It’s essential to work with partners who demonstrate flexibility, transparency, expertise, and a commitment to tailoring their approach to your unique business needs. Avoiding these common pitfalls can help ensure a more successful and mutually beneficial marketing partnership.

What is Thought Leadership? Thought leadership refers to the position of being a recognized and authoritative source of innovative and influential ideas within a particular industry, field, or subject.  A thought leader is someone who is considered an expert and visionary in their area of expertise and who often drives conversations, shapes opinions, and influences the direction of that field. Thought leaders are often sought out for their opinions, advice, and expertise, and their ideas can have a significant impact on the decisions and strategies of individuals, organizations, and even entire industries. Being a thought leader requires not only deep knowledge and expertise but also the ability to communicate effectively, engage with audiences, and anticipate future trends.  Thought leadership can be demonstrated through various means, such as writing articles, giving speeches, participating in interviews, hosting webinars, and actively engaging on social media platforms. Benefits of Being a Thought Leader or Why to do it Becoming a thought leader in your industry can offer several significant benefits: Credibility and Trust: Thought leaders are seen as experts and authorities in their fields.  By consistently providing valuable insights and innovative ideas, you establish a high level of credibility and trust among your audience, peers, and stakeholders. Influence and Impact: As a thought leader, your opinions and ideas carry weight.  You have the power to shape conversations, guide discussions, and influence the decisions and strategies of individuals, organizations, and even entire industries. Visibility and Recognition: Thought leaders often have a strong online and offline presence.  You become recognized for your expertise, and your name becomes synonymous with your niche.  This increased visibility can open up new opportunities for collaboration, speaking engagements, media coverage, and more. Networking Opportunities: Being a thought leader positions you at the center of your industry’s community.  You’ll have the chance to connect with like-minded professionals, decision-makers, influencers, and potential partners.  Networking can lead to collaborations, partnerships, and valuable connections. Business Growth: Thought leadership can directly impact your business endeavors.  It can attract new clients, customers, and opportunities.  When people see you as an authority, they are more likely to choose your products or services over competitors’. Personal and Professional Development: The process of becoming a thought leader forces you to continuously learn, grow, and refine your expertise.  Engaging with your audience, responding to questions, and participating in discussions can deepen your understanding of your field and keep you at the cutting edge. Positive Reputation and Branding: Thought leaders often have a positive and respected reputation.  Your brand becomes associated with forward-thinking ideas, innovative solutions, and a willingness to share knowledge.  This can lead to long-term brand loyalty and positive word-of-mouth. Opportunities for Innovation: By staying engaged with industry trends and being at the forefront of discussions, you’re more likely to identify gaps, challenges, and emerging opportunities.  This positions you to drive innovation and contribute to the advancement of your field. Media and Speaking Engagements: Thought leaders are frequently sought after by media outlets, conferences, and events for insights and commentary.  This exposure can lead to invitations to speak at prestigious events and contribute to media stories, further enhancing your reputation. Personal Fulfillment: Sharing your expertise and making a meaningful impact can be incredibly fulfilling.  Knowing that your insights are helping others, driving positive change, and contributing to the growth of your industry can bring a strong sense of satisfaction. Remember that thought leadership is a long-term commitment.  The benefits may not be immediate, but with dedication and consistent effort, you can reap substantial rewards both professionally and personally. How do you become a thought Leader- What does it entail? Becoming a thought leader in your industry takes time, effort, and a strategic approach.  Here’s a step-by-step guide to help you get started: Find your Niche: Choose a specific area within your industry where you have deep expertise and a genuine passion.  Focusing on a niche allows you to stand out more effectively. Build Expertise: Continuously expand your knowledge and skills in your chosen niche.  Stay up-to-date with the latest developments, trends, and research. Create High-Quality Content: Start producing valuable and insightful content related to your niche.  This could include articles, blog posts, whitepapers, videos, podcasts, and more.  Aim to provide solutions to common challenges, offer unique perspectives, and share actionable advice. Consistency is Key: Regularly publish new content to maintain engagement and visibility.  Consistency helps establish your presence and reinforces your authority over time. Leverage social media: Use platforms like LinkedIn, Twitter, and relevant online forums to share your content, engage with your audience, and participate in industry discussions.  Engage in conversations and respond to comments thoughtfully. Network and Collaborate: Attend industry events, conferences, webinars, and workshops.  Network with other professionals in your field, both online and offline.  Collaborate on projects, participate in panel discussions, and share your insights in various settings. Guest Contributions: Offer to contribute guest articles or guest appearances on podcasts, webinars, and other platforms.  This can help you tap into existing audiences and extend your reach. Original Research: Conduct your own research or surveys within your niche.  Presenting unique data-driven insights can significantly enhance your credibility as a thought leader. Public Speaking: Seek opportunities to speak at conferences, seminars, and workshops.  Public speaking showcases your expertise and allows you to connect with a live audience. Write a Book or E-Book: Consider writing a book or e-book on a topic within your niche.  Being a published author can enhance your credibility and visibility. Engage with Feedback: Embrace feedback and engage with constructive criticism.  Address questions and concerns from your audience, showing your willingness to learn and adapt. Be Authentic: Authenticity is key.  Share personal stories, experiences, and insights that resonate with your audience.  People are more likely to connect with someone who comes across as genuine. Stay Humble and Curious: Maintain a humble attitude and a willingness to learn.  Stay curious about new developments in your industry and be open to evolving your perspectives. Measure Your Impact: Keep track of your engagement metrics, such as website traffic, social media followers, and engagement rates.  This helps you assess the effectiveness of your efforts and make adjustments as needed. Becoming a thought leader is a gradual process that requires dedication, patience, and a commitment to providing value to your audience.  Over time, your reputation will grow, and your influence within your industry will solidify. How does being a thought leader bring in new business Being a thought leader can have a significant impact on bringing new business to you.  Here’s how it can help attract clients, customers, and opportunities: Enhanced Reputation and Credibility: Thought leaders are seen as experts in their fields.  When potential clients or customers perceive you as knowledgeable and credible, they are more likely to trust your expertise and seek your services or products. Visible Expertise: As a thought leader, you regularly share valuable insights and solutions related to your industry.  This visibility demonstrates your deep understanding and problem-solving skills, making potential clients more inclined to approach you for assistance. Lead Generation: Thought leadership content, such as articles, videos, and webinars, can attract a wide audience, including those who may need your services.  By offering actionable advice and demonstrating your expertise, you can capture the attention of potential leads. Relationship Building: Thought leadership allows you to connect with your audience on a personal level.  Engaging with comments, responding to questions, and participating in discussions can help build relationships and foster trust. Word-of-Mouth Referrals: When people perceive you as a valuable resource, they’re more likely to recommend your services to others.  Positive word-of-mouth referrals are powerful and can lead to a steady stream of new business. Networking Opportunities: Being a thought leader often leads to networking opportunities with other industry professionals, including potential clients.  Collaborations and partnerships can emerge from these connections. Speaking Engagements: Thought leaders are often invited to speak at conferences, webinars, and events.  These speaking engagements put you in front of a relevant audience, where you can showcase your expertise and attract those interested in your services. Content Marketing: Thought leadership content serves as a form of content marketing.  When potential clients come across your insightful content, they may naturally be inclined to explore your offerings and reach out for further assistance. Unique Value Proposition: Your thought leadership sets you apart from competitors by showcasing your unique perspectives and innovative ideas.  This differentiation can make your services more appealing to potential clients. Long-Term Relationship Building: Thought leadership is a long-term strategy.  Consistently sharing valuable content and insights can lead to an ongoing relationship with your audience, gradually converting them into clients or customers. Educational Approach: Many thought leaders focus on educating their audience about industry trends, challenges, and solutions.  This educational approach can attract those who are seeking guidance and solutions for their business problems. Content Repurposing: Thought leadership content can be repurposed into various formats, such as eBooks, case studies, and infographics.  These materials can be used as lead magnets to capture contact information from potential clients. While becoming a thought leader can certainly attract new business, it’s important to remember that it’s not an overnight process.  It requires consistent effort, quality content, and genuine engagement with your audience.  Over time, as you build your reputation and establish your expertise, you’ll likely see the positive impact on your business growth. Getting Started- First Steps To get started on your journey to becoming a thought leader, follow these steps: Choose Your Niche: Select a specific niche within your industry where you have deep knowledge, expertise, and a genuine interest.  This will help you stand out and focus your efforts. Set Clear Goals: Define what you want to achieve as a thought leader.  Is it to educate, influence, or innovate?  Having clear goals will guide your actions and keep you motivated. Research Your Niche: Stay up-to-date with the latest trends, challenges, and developments in your chosen niche.  Understand the current conversations and gaps in knowledge. Create a Content Strategy: Develop a plan for creating and sharing valuable content.  Decide on the types of content you’ll produce (articles, videos, podcasts, etc.), the platforms you’ll use, and the frequency of your postings. Build an Online Presence: Establish or enhance your presence on social media platforms, especially those relevant to your industry.  Use platforms like LinkedIn, Twitter, and industry-specific forums to share your content and engage with your target audience. I would start writing articles and giving speeches. Create High-Quality Content: Start producing content that showcases your expertise and provides value to your audience.  Focus on addressing common challenges, sharing insights, and offering practical solutions. Start a Blog or Podcast: Consider creating a blog or podcast dedicated to your niche.  This becomes a hub for your content and a place where people can learn more about you. Engage with Your Audience: Respond to comments on your content, engage in discussions, and answer questions.  Show your willingness to interact with your audience and provide additional insights. Networking and Collaboration: Connect with other professionals in your niche.  Collaborate on projects, exchange ideas, and participate in discussions.  Networking can expand your reach and introduce you to new opportunities. I would introduce people and bring other experts together.  Have other experts in your article or speech. Conduct some research and publish it. Volunteer to be interviewed or serve on a panel discussion.  Someone’s Podcast. Be Consistent: Consistency is key.  Regularly produce and share content to maintain your presence and demonstrate your commitment to being a thought leader. Seek Feedback: Encourage feedback from your audience and peers.  Constructive criticism can help you improve your content and better understand your audience’s needs. Attend Industry Events: Participate in conferences, webinars, workshops, and networking events related to your niche.  This can help you stay updated and establish connections. Build Relationships with Media: Reach out to relevant media outlets, podcasts, and blogs.  Offer your expertise for interviews, guest posts, or commentary on industry topics.

Definition of an Intern (In-Turn) is simply defined as an advanced student or recent graduateundergoing supervised practical training. The In-Turn means “it is a two-way street.” Both theemployer and the intern need to benefit.Benefits of an Internship (Top six – you pick your favorite three) 1. Potential Talent Pipeline – Internships can serve as a recruitment strategy, giving youthe chance to evaluate potential future employees before committing to a full-timeposition. More importantly, given the tough labor market, this could be ideal for somecompanies. Finally, 85 percent of companies utilize internships to recruit full timeemployees. It is also less expensive for an organization. It is approximately 50% lessexpensive to hire an intern rather than fill a position from the outside. This concept alsoallows you to “try before you buy.” If it works out great, if not, you have an end date. 2. It can be Cost Effective– Hiring interns is generally more cost effective than hiring fulltime employees or a contractor. This allows you to accomplish tasks and projectswithout straining your budget, especially for a short-term assignment. This can also helpbusinesses manage their budget and receive good marketing support. 3. Interns bring a fresh perspective– Interns often come with new ideas, viewpoints,insights, innovation (new ways of doing things) that can reinvigorate your team’screative thinking and offer new or unique solutions to existing challenges. 4. Excellent for Networking (company and for intern)– Encourages interns to interact withdifferent teams, attend meetings, and connect with professionals from the field. Theinterns build valuable networking contacts and you (the organization) have futurecontacts/employees/ idea generation. Conversely, interns can introduce your businessto their own contacts and networks, opening up potential new business contacts, clientsor partnership opportunities. 5. Technology Proficiency– sometimes, interns (younger college students) can learn andteach the organization about a new technology or application. Many interns are savvyand familiar with the latest digital tools. Their skills can streamline the learning processand improve your businesses online presence. 6. Your organization will look like a Community Oriented Organization– Hiring interns canfoster positive relationships with educational institutions, build your businessesreputation as a company that is engaged and “gives back to the community” and showssupport for the local community. It is also a positive PR move for your organization andpositions you as giving back, open to learning and also a mentor of the youngerstudents. Some Key Mistakes to Avoid (or the negatives) 1. Not Developing Clear Objectives– One of the biggest mistakes companies make is nothaving a well-defined and structured internship program. Make sure to define the goals of the internship, and outline the tasks that align with your objectives. Interns need to know what you expect and what to do. 2. It does require a time commitment on the part of the organization. Some organizationsfail to assign a mentor or a supervisor to guide the intern and provide feedback. A niceorientation or on-boarding program and training program is needed to help the internsbecome familiar with the organization and expectations and assignments. You can’t justhave an intern do some work with out providing guidance and supervision. 3. Don’t assign only menial tasks– treating interns as glorified coffee baristas or trivialassignments can be degrading and demotivating. Interns need to do meaningful workwhich should provide them with a valuable learning experience. 4. Make sure you have a Start and End Date– Having a timeline for the internship is goodfor both the organization and the intern. A clearly defined start date and end date willensure that if something does not work out, the internship does not have to go onforever. It also sets clear expectations in case you want to hire the intern or if you selectnot to do that. 5. Companies need to provide Feedback or Provide an Evaluation System– you might wantto set up specific timeframes to provide feedback to the interns. This might be the firstcouple of weeks, monthly or after the summer. Today’s students need/require a lot offeedback. This will ensure you are able to provide it.

I wish I had a nickel for every time I’ve had a client insist that “Price is the most important thing to customers!” According to thousands of research projects, they are simply wrong. When you ask clients what matters most, eventually they’ll mention price, but it’s generally not their #1 priority. Quality and Reliability: This is usually at the top of people’s list. Buyers want products and services that consistently meet their standards and perform reliably over time. Customer Support and Service: Strong customer support, technical assistance, and after-sales service are incredibly valuable. Sometimes things shake out in a way that wasn’t planned, companies want a vendor who will be responsive and help resolve issues promptly. Fit to Needs: What you’re selling has to resolve some pain point for the customer, customization and flexibility often rank high, as there’s no service that applies 100% the same way to every client’s needs. Innovation and Technology: Companies look for vendors who provide innovative solutions that can give them a competitive edge or enhance their operations. Vendor’s Reputation and Credibility: A vendor’s track record, reputation, and references play a significant role in decision-making. People are less likely to hire a company with a poor track record, or none at all. The latter admittedly creates something of a catch-22, how do you build a positive reputation if no if no one will hire you? Total Cost of Ownership: Beyond the initial price, buyers assess the total cost of ownership, which includes maintenance, training, implementation, and potential operational savings. Long-Term Relationship: Buyers often prioritize vendors who demonstrate a willingness to build a long-term, collaborative relationship. Compatibility and alignment of values matter. Ease of Integration: Compatibility with existing systems and ease of integration into the buyer’s operations can heavily influence the decision. Which sounds more appealing: buying a new widget, or completely overhauling your systems? See point #3. Risk Management: B2B buyers are concerned with mitigating risks. Vendors who can demonstrate stability, continuity, and disaster recovery plans are appealing. See point #2. Environmental and Social Responsibility: Increasingly, companies consider vendors’ environmental and social practices as part of their decision-making process, both for their own values, and the positive optics that accompany it.

Transcript: Welcome to the B2B Marketing Mindset, where every Thursday at 11 o’clock here on LinkedIn, we help small businesses get bigger, and medium sized businesses get bigger. I’m Pete Monfre, and today, my co host, Bill Lowell is on vacation. Word has it, he’s luxuriating in Mukwonago, Wisconsin in a large vat of cheese, so we’ll have to ask him about that next time. You know, there’s a lot of opinions out there (And you know what they say about opinions right?) about our buddy, Elon Musk, abruptly changing the name of Twitter, one of the most recognized brands in the world, to an unintelligible symbol. Prince is probably rolling over in his grave based on how well that worked out for him, right? But, the thing I’m not seeing much discussion about is the negative impact of the seemingly impulsive move, on the multibillion dollar loss in brand equity. I have seen a couple of articles about it, but by and large, it seems to be ignored by the media. I think it’s actually the biggest part of the story, and it’s also a lesson in why you don’t do stuff like this.   But let me give a disclaimer really quickly. Elon has a lot more money than I. He’s got a company that routinely travels to space, he founded Tesla before it was cool to be electric. And like 99.9999% of people who criticize Mr. Musk, I’d have no business standing in the same room as this guy in terms of vision. So I’m gonna give him the benefit of the doubt, but I just can’t understand this move.   Let’s talk about the value of the brand. We’ll do some amateur psychoanalysis of the brilliant, billionaire stoner we all know and love. Is this the end of Twitter: the company, or just the brand? Is a tweet now called an

Today we’re going to talk about the most boring of all boring subjects – money! Specifically how to tie the marketing budget to the outcome – what we call “Marketing Return on Investment or MROI”. It’s the difference between marketing being a cost center or a profit center. We’ll be talking about different budgeting approaches and some key considerations to find that balance on The B2B Marketing Mindset.” Let’s start with the premise – there are a lot of ways to set a marketing budget – most of them are fancy guessing. We’ll talk about the six ways companies tend to budget for marketing • Competitive Budgeting • Same as Before • Percentage of Sales • What can be afforded at the moment • Zero based budgeting • Break Even Budgeting Every week, The B2B Marketing Mindset podcast demystifies marketing, shares best practices and helps you avoid wasting money.

Today Bill Lowell and I are discussing what it means to have a B2B Marketing Mindset and why it’s the foundation of marketing success. Step 1: Get your mind right • Attitude is everything • Data driven • Customer problems are king • Think in the long term • Know what makes you different

UH-OH. We are ruffling some feathers today talking about the dumbest, most vapid, lame brained, AND MOST COMMON boondoggles we see over and over again in our practice.“Dumb ideas are dumb.” ChatGPT

It’s always a good idea to talk to customers, get feedback, etc. but they don’t want to hurt your feelings so they withhold the most important information you need. The painful information. The stuff you need to improve.This is a psychological thing – people generally don’t want to hurt your feelings, so they are less likely to give negative feedback to someone they know. But what if you could unlock what’s in your customer’s mind?How would that impact revenue generation?

This episode explains probably the absolute biggest concept that you must understand to have a growth company. And it’s the most misunderstood concept in marketing and sales. Bill Lowell and I untangle the great ball of yarn that is marketing in this video podcast.