Laura Patterson Articles by: Laura Patterson

Measuring the Value of Market and Customer Intelligence

Measuring the Value of Market and Customer Intelligence

We received a call the other day from a marketing executive at a company that wanted to explore conducting market research and how to measure its value.  To gather intelligence they have relied primarily on second-hand information from conversations their sales, service and implementation teams have with prospects and customers, and direct input while at tradeshows.  They know that it’s important to conduct research on a continual basis to keep up with market trends and to maintain a competitive edge. However, they don’t have the internal expertise and until now they didn’t prioritize any funds for this initiative.  Because they’re in the growing cyber security market, to date research had seemed more like a vitamin than an aspirin.  But, now competitors are more fierce and numerous, and there is a slower rate of adoption of their newest offering and a decline in the win rate. So, now they have a headache. Read more ›

The Customer Experience: What We Can Learn from Going to Camp

The Customer Experience: What We Can Learn from Going to Camp

One of our associates is preparing to send her child, Evan, off to a 3-week overnight summer camp for the first time.  Over the past few months she’s shared how the family went about selecting the right camp for them, and then the amazing job the camp did managing the experience after the selection and before the start of camp. It struck me as a familiar buying process for a considered and consultative sell, followed by an impressive customer onboarding process. So, as you read this article think about how this model could be adapted by your organization to improve your customers’ experience.   Read more ›

Five Important Stops Along the Road from Metrics to Accountability

Five Important Stops Along the Road from Metrics to Accountability
By April 20, 2015 Marketing, Sales

 

I’m sure you’ve had this experience, you’re talking with a colleague who shares your passion on a subject and during the course of the conversation there is a moment of clarity on a particular point.  This happened to me recently in a conversation with a European colleague on the topic of marketing performance.  As we were talking I posited the idea that there is a difference between marketing accountability and metrics.  There was a very brief pause and then he said, “yes, there is, but probably very few marketers have considered this important distinction.”  As we talked further we realized that all of the attention on “Big Data” had most marketers focused more on metrics than on the accountability aspects of marketing performance management. It is accountability, however, that lays the foundation for driving a performance-driven culture. Read more ›

Using Segmentation to Fuel Organic Growth

Using Segmentation to Fuel Organic Growth
By April 7, 2015 Marketing, Sales, Small Business

Growth, measured in terms of increased revenue, profit, and/or assets is a key initiative for most companies. The recent merger, acquisition and takeover frenzy of the past few years reflects what is known as inorganic growth. Organic growth, now back in vogue is the rate a business expands through its own business activity. Organic growth requires a company to create competitive advantages, differentiate and innovate its product/service offerings, and to hone in on viable existing and new customer opportunities. Read more ›

What’s in a Name? Why the CMO Should Lobby for the CVO Title

What’s in a Name? Why the CMO Should Lobby for the CVO Title

For most organizations value comes from customers. And if you subscribe to the teachings of Peter Drucker, you believe that the only purpose of a business is to create a customer.

Drucker believed that only two things matter when it comes to creating a customer: innovation and marketing.  Classic marketing training posited that to create a customer Marketing owned 4 P’s: Product (the offer), Price, Promotion (the content, channel, and touch points), and Place (the means by which customers purchased the product).  Let’s take the conversation down one more path – marketing’s purpose.  Per Phil Kotler, Marketing’s purpose is to find, keep and grow the value of customers. In summary our logic chain is: Read more ›

7 Ways to Make Marketing More Valuable: Why “Valued” is NOT Enough

7 Ways to Make Marketing More Valuable: Why “Valued” is NOT Enough
By February 9, 2015 Social Selling

Would you say that as a marketer your work is valued, or is it considered “valuable” to your organization? Did you just think, “Laura what’s the difference and why does it matter?”  Yes there is a difference and it does matter.  Let’s look at these two words, and explore their implications for marketers, then talk about how you can make Marketing more valuable.   Read more ›