Transcript
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Yeah.
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Hey everyone welcome back to be, to be
growth. My name is Olivia Hurley and
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today I am joined by Nicole Lindenbaum,
who is the VP of marketing at team pay?
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Nicole? How are you doing? I'm doing
great. How about you? I'm doing really
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well. I'm really happy that we get to
chat today, we were talking a couple
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weeks ago, you're telling me a little
bit about your career and it has almost
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entirely been in disruptive technology
and marketing to a new category. And I
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have a lot of questions for you and I'm
super excited to hear your answers but
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before we jump into that, I'm curious
and we just love to hear what has been
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the draw, too disruptive technology for
you. Yeah, I think there's a couple
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things. One is that you know, if you
are marketing in a defined category, it
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begins to become really a feature
conversation. Do you have this feature?
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Do you not have this future? And I
think that it really brings the level
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of the conversation down that you're
having with a customer because they're
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just comparing you to other things they
already know about and you know, you've
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got to make sure you're still leading
on the product side and staying ahead
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of that and there's a lot of great
technology out there. So I'm sure
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there's plenty of great challenges
there that other marketers love. But
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for me that's not the most interesting
challenge of how do I kind of beat
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people by having better features?
What's really interesting to me is how
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do we define something completely brand
new that no one's ever really thought
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of before, how do we show people that
there's a totally new way of doing
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things when they've got a really kind
of set vision in their mind of what
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this thing looks like. And as a market
or the challenge that it is exciting to
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me about that is I'm not just trying to
get my brand name out there, I'm not
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just trying to show you that my
solution is better than someone else's
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solution. I have to educate people on
what is this new way to do something.
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They've never seen it before, They've
never thought of it before and they're
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feeling the pain of the legacy way of
doing things, but they don't yet know
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there's a solution. So it's this, you
know, the ability to educate the market
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and really define what is this category
mean is really interesting to me. And
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then within that, how do I make sure I
define and maintain a leadership
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position there? Oh my gosh, that's
fascinating. I totally can see when you
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put it that way, I can absolutely see
the draw and I'm even more excited to
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kind of unpack this with you. So with
that being said, you are educating
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people, you are, you are presenting a
brand new idea to them. What do you
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have to think about while marketing for
this new category that you wouldn't
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otherwise if you are marketing in the
legacy way? Sure. So if I if I take
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team pay as the example, we're
displacing a lot of existing
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technologies that you might have heard
of already, like a procurement solution
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or an expense management solution or a
traditional corporate card solution and
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we essentially displace all of those.
If I tell you that I've got the world's
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greatest expense management solution
for you, you automatically know what
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that is. You've seen it before, you've
used one before. If you're the buyer,
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you've probably got a line item on your
budget for that. But if I tell you I
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have a distributed spend management
platform, you're gonna look at me like
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I'm crazy. You're gonna not know what
that means. You might be able to make
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an educated guess, but it doesn't mean
anything to anyone. And so what's
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different about it is you can't lead
with this is the solution that we are
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and we're the best you have to lead
with. You are currently feeling pain
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and I actually have a way to solve that
for you. And it's an entirely new way
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to think about it, but I can solve your
pain. So you really have to lead with
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what are the problems that your product
solves? Not just we are the best X, y z
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solution on the market. So how do you
manage the brand and how do you Yeah,
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yeah, I want to say that general
because I'm learning alongside all.
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Okay. Yeah. So the brand parts really
tricky because you've got the joint
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problem of people don't know your
category and they don't know your brand
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and how do you elevate both of those?
And I think a lot of that you can weave
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into the thought leadership that you
build, which ends up being a strong
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component of that education piece. And
if you can position your brand as a
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thought leader in the industry, then
you attract a lot more people, they
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start to learn, they learn about
different ways of doing things, they
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learn about related concepts that may
not actually have to do with your
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product, but people then start to look
to you as an expert and it gives you
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authority in your space. So you can
start to actually have real
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conversations where people are coming
to you and looking to you for advice. I
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mean at team pay, we we do um
educational thought leadership, virtual
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events once or twice a month, you know,
depending on the month and people come
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to them and I kind of thought the
webinar was dead and it was a little
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bit revived with covid, but most folks
I'm talking to now are seeing a lot of
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drop off because no one wants to sit on
zoom anymore. We're not seeing drop off.
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People are still coming to our events
and I think it's because it's that
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educational piece and now they can
associate the team paid brand with
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someone who is an expert and they're
going to get value from us even if
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they're not ready to buy or they don't
quite know what our product is yet. It
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gives them that positive association
that we do know our industry and what
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we're talking about. Yeah. You bring up
something that I'm super curious about
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what these these channels that are
performing really well. Have you seen
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over your career as you've moved from
his role to role? Had there been
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consistent channels with with knowing
that education is top of mind that have
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performed well? It's a great question.
I do think having a strong content
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marketing arm is really important with
the thought leadership, just making
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sure that you can keep that engine
running the channels kind of very
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Less by company and more by um kind of
the era that we're in. So you know 10
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years ago webinars were like one of the
best ways to reach people. People were
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going to several a week and it was like
you know this really incredible
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educational experience. And then that
really went by the wayside and like I
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said it had a bit of a renaissance over
the last year, 10 years ago when QR
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codes came out it was like everyone was
saying we've got to use these in
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marketing. So every piece of collateral
that I ever printed, how to Q. R. Code
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that would take you to our website, I
don't know why you needed that. I mean
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the website wasn't that long of A. U. R.
L. But it was you know everyone just
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felt like that was the way to engage
people because it was the cool new
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thing that went away and then also came
back over the last year. Although less
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so on the marketing side and much more
practical way to use it. I do think the
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opportunity to share information with
your audience and reach them is really
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really critical for defining a new
category. And so that could
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manifest itself in different ways.
Whether that is that webinar where
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you're giving great content with
speakers or it's your blog where you're
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sharing really great insights or
templates that people can use or other
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kinds of information or actually you
know going to in person events and
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meeting people and being able to share
without leadership at a conference. Um
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so I think there's a lot of different
ways that that manifests itself but it
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comes back to how do we get the thought
leadership and education into people's
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hands and what are the right ways to
distribute that? Yeah I want to go kind
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of granular here. And how do you tell
people about this new category when
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they don't know it's a new category.
What does that look like practically
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with the messaging and with the right
time right place all of that in mind.
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Yeah I think it comes back to something
we touched on already around leading
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with the pain that they're feeling and
the problems that they're facing. And
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if we can talk about all the manual
work that they have to do right now, I
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mean, I don't know the last time you
did an expense report, but they're not
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very fun and that can resonate with
pretty much anyone you talk to, we get
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rid of those, right? So if you can
actually tap into, you are probably
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frustrated at work because he was an
employee are spending all this time on
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expense reports, the finance pain is
even greater. So when we're talking to
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our actual buyers that are in a finance
role, they've got so much manual work,
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they always have to be the bad guy
telling, you know, they never know
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what's been spent. So their numbers
aren't reliable, they have to go back
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and forth all the time between
employees, uh and the books to make
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sure that everything is really accurate,
They don't have visibility, they don't
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have control. We can talk about those
problems and then they're not along
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because there are things that we all
feel, whether you're on the employee
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side or the finance side and then we
can paint this picture of like, you
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know, there's a better way, there's a,
there's a world where this doesn't have
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to be this way and it's by using tools
like a spend management platform to
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help you get that better control and
better visibility and it still takes a
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lot of work from there to really help
people reframe how they're thinking
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about it, but that's kind of the
journey that you need to take them on.
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Mm I love it. Okay, so if I missed it
before I get it now, lead with the pain
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and I love that it seems like built
into the brand of, of a successful
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disruptive technology company. Is this
like benevolent facilitator of
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education and of information and being
the like public square for a lot of
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people as they learn. I think that's so
cool. So so you need a strong message
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externally, obviously educating your
buyers, bringing them to awareness that
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they have, there's a better solution to
the problem they encounter every day.
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But I'm curious about what this looks
like internally, as you arm, your sales
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team with the same message. How do you
educate internally and make sure that
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your sales team is really equipped with
the information they need to talk to
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buyers in a brand new category. Yeah,
that's a great question. And the, the
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partnership between marketing and sales
is always so important but I think a
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lot of times we focus a lot on the
demands on side of those things, which
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is very important as well. And, you
know, our team meets weekly as a
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revenue team to make sure we're aligned
on everything but where this really
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comes into play is in the product
marketing of the product and you know,
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having a strong product marketer who
can really define that message, distill
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it down, put it into the right
materials, but also work hand in hand
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with the sales team to make sure
they're living and breathing. That
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message becomes really critical. So we
run actually a team pay every other
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week. I think it is a sales enablement
session where we're rolling out new
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materials or reiterating new messages
or getting feedback from the team on
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what they're hearing in the market. And
are there new objections coming up or
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new competitors coming up that we need
to start to develop some messaging for?
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So that's one way we really look at,
you know, how do we really partnered
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together? We also listen to a lot of
their calls so that we can understand
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what are buyers saying, How are they
reacting to the message, which helps us
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get a lot sharper uh, and make sure
that what we're saying is going to
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actually resonate with people. And if
it's not, we need to figure out a
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different way to talk about it. Um, so
I think you set up those regular
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cadence is whether it's once a week or
once a month for us, you know, twice a
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month we're doing sales enablement, but
it's got to be this constant feedback
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cycle between the sales and marketing
and a real partnership. So there's
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there's definitely a lot to do is we
scale to make sure that our approach
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will scale with the business. Um, as we
hire more and more sales reps, you know,
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it's harder to keep tabs on. Does
everyone actually feel good about the
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message and have it down and where do
they need help? Um, so that's something
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we're actually looking at building out
over the coming year as the business
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skills up. How do we scale up the
enablement side with that to make sure
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that they are really comfortable with
the message and how they deliver it and
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that it's consistent. I think one of
the things for me that's been really
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important throughout my career is if
we're going to define a message, I want
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to make sure that the first time a lead
ever interacts with us, they're hearing
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the same words and language that they
hear when they then meet the sales team
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and that they then actually encounter
when they're a customer and they're
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talking to RCs team where they're
getting released notes from us,
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etcetera. We should be talking about
the product in the same way across,
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even if it's a little more on the
awareness side, in one place, in a
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little deeper on the other and just
really taking a consistent approach and
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consistent view of how we get that
message to the entire team pay team so
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that we all feel like we're singing
from the same song book. I love that.
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It's it's so funny and just so human
that there's like opportunity for
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miscommunication and opportunity for
people to get things just by nature of
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having conversations and being
sometimes so deep in the weeds that you
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kind of miss out on some of the
messaging or the overall tone and it's
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awesome that that's such a coordinated
effort. I think that's so cool. Well
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and I think it has to be, I think again,
if you're leaning on an established
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category and everyone knows the thing
that you're selling your selling
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marketing automation, yeah, you've got
to sell your finer points but people
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know what it is. You don't have to be
as focused on the message across the
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board, but when you're completely
starting something new for someone it's
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going to you're going to lose them,
you're going to confuse them if you're
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not having the scene consistent message
across the different touchpoints. Yeah,
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I'm curious. What do you think the like
most common in defining a new category
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specifically? What do you think the
most common like reasons why somebody
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gets lost or somebody doesn't purchase
if there are a good candidate? Like
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what do you think? What do you think
are kind of the common hurdles or flaws
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of if I may be so bold? Well it comes
back to the fundamentals of crossing
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the chasm a little bit and I think
where we lose people are if they are
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later adopters and later on the
maturity scale for that there are much
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more resistant to change and there
they're resistant to thinking about
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things differently. They know how to do
something. They've done it a long time
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and it makes perfect sense. I mean
you've got your habits, you you know
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what you're looking for because you've
seen it before and you just want to do
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it the way you've always done it. And
so the challenge then is like how do
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you open those minds? So team pays
early success was definitely with
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people that were more digital forward
digital friendly, open to new ways of
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doing things. There's a lot of, we work
with a lot of other tech companies
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where I think that's just part of the D.
N. A. And as we scale we're starting to
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find we've got to figure out how do we
get this message to really resonate
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with people who might be more reluctant
to try something a different way. And
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so I think when people get lost in the
story it's because they can't get over
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their own bias of how something should
be. And that really comes back to us
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focusing back on that pain and like
you've you've been doing it this way.
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Sure. But what if you had you know 10
hours back each month that you're now
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spending on manual reconciliation, What
would you do with that? How would you
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partner better with the business. What
if you had confidence that your numbers
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were up to date accurate in the middle
of the month and you didn't have to
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wait for tens of thousands of dollars
of expense reports to come in several
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weeks later to know how much money
you've spent and really just kind of
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helping them understand that value that
a different way in a different approach
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can provide becomes really critical. Um,
but I do think there's always going to
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be some folks out there that are used
to doing things a certain way and are
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not necessarily interested in
experimenting. I love that and that's
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okay to their own. I'm curious with,
you know, one of the most common topics
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in the B two B marketing space is sales
and marketing alignment. We talked
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about, you know, just a few minutes ago
about the importance of communication
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and sales enablement marketing like you
were saying, listening to the sales
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calls, meeting weekly with them,
hearing what the buyers are saying. But
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I'm curious what your thoughts are on
the evolution of even more intimacy
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between sales and marketing and if you
as a marketing leader in your own
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organization, how closely you kind of
link arms and see those two things as
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more and more the same. So I would say
that they're not the same. But I think
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the alignment is more critical than
ever, buyers are smarter than they've
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ever been there do more research on
their own than they ever have and
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you've got to be aligned and
coordinated in your efforts, your
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approach, the message, you know, from
start to finish. So we've got a really
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great relationship with our sales team
team pay. It's something that is a
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personal mission of mind to build
because I would say for the most part
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of the companies I've worked for that
have been more successful are the ones
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where marketing and sales are aligned.
So we find the KPI s that we're going
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to actually share and measure together
my marketing team, we align ourselves
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on the qualified opportunities that we
generate for the sales team. We then as
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a marketing team back out, how many MQ
else does that mean we need and how
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many leads does that mean we need? So
we can actually, you know, run the top
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of funnel. But by aligning on the
qualified opportunities, it means sales
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is not just saying you brought us the
quantity we want, but you've also
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brought the quality and not just make
sure that the incentives are in the
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right place. We meet very, very
frequently as a team I mentioned is the
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entire um, sales and marketing organ
meats every monday morning, we kick
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things off for the week. We talk about
what happened last week. What went well,
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what can we do better, what do we want
to do next week and anything, making
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sure that they've got everything they
need to know, uh, to be successful and
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do their jobs. I personally meet one on
one with our sales leader once a week.
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Um and then usually more than that at
hawk with other things that come up. Um
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I just got out of a meeting where we
were talking through our upcoming fall
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email calendar because it's really
packed with a lot of events and how do
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we want a sequence in the sales emails
and that was, you know, between sales
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leadership and marketing leadership
meeting and and aligning on that. And I
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just think it's really important that
we all feel like we're one team. But I
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do think there's some healthy tension
between marketing and sales at times.
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That's important because we do have,
we're all marching to the same greater
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mission, but we've got different things
we need to achieve. And I think one
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example is if we want to go back to
talking about the brand sales doesn't
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necessarily care that I've got a
billboard out in san Francisco I mean
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it's cool, it's fun, I love having a
billboard that's really important for a
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brand awareness That does not translate
into a direct lead for them, but it's
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still something I need to do, so we
need to be aligned, but it doesn't mean
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that we necessarily are prioritizing
all the same things because I'm
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thinking about what's best for the
business from marketing perspective and
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they're going to focus from a sales
perspective and 95% of the time that's
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gonna overlap and the other 5%, I'm
going to do the things I need to do and
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they're going to do the things they
need to do. And I think that's okay. I
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think it's actually a really good thing.
So, and when I say attention, it
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doesn't mean that it has to be a
negative tension. It's really just, you
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know, these kind of competing ideas and
making sure we are prioritizing the
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things that matter. Nicole for somebody
who is marketing to a category. A new
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category. For the first time, I'm
curious what you wish you knew or what
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you would tell them. You wish you knew
when you first started out or what you
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would tell them as advice. Yeah, I
think the most important thing is
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because the education component is so
important and the establishing yourself
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as an expert is so important. You have
to know a what are the words that my
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audience uses and be? Where are they
going to get information? Because those
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are the places you need to be. So, one
of the first things I typically do when
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I started a new role is ask the buyer
or if there's someone in my own
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organization whose representative of
the buyer for example, a team pay our
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own VP of finance is a great potential
buyer. Where do you go for information.
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What are the newsletters? You sign up
for? What are the websites you read?
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What are the events you go to and that
helps inform where I deliver my content,
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where I want to spend my marketing
efforts, but then you really have to
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listen to the customers. And so that
might mean going to other vendors,
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webinars that are in your industry,
even if they're not necessarily doing
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the same thing where they've got
different, you know, leaders in that
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role speaking and you can start to
absorb the language. It probably means
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reading a lot of those websites that
you just uncovered where the buyers are
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are going for information. And then any
time you can actually talk to your
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customers, um, which is certainly
different in every company, how
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accessible they are. But if you can
talk to them and interview them and
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understand the pain they go through and
how they would freeze it or you know,
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how how do they think about wording
certain things and just put on your
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listening listening hat for for that if
you can listen in on sales calls.
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That's always a great a great piece too
because you can often hear people talk
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about their current set up their
current day to day and really not just
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get an understanding of what that data
is, but again, really sharp on what are
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the words they used to describe it. Is
there was there a warning sign you
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encountered any red flags along the way
as you first ventured into this new
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category that you would warn people
against or tell them to watch out for.
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It's kind of the two sides of the same
coin like you've got to watch out for
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like not just assuming you know about
your buyer and not just assuming you
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know how they're going to think about
things, but you've got to do the
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research otherwise you're just going to
come across as an authentic and people
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will write you off and you don't always
get a second chance to reframe their
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opinion. Oh, I love that if there was
only one thing that somebody could take
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away from this episode, what would you
want it to be defining new categories
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as a marketer is really hard but really
fun and I think if you want an
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interesting challenge, this is it. And
so you know, go for it. I would say so
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Oh my gosh, what a blessing. I love
that. Do all the new the new category
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marketers, I love that. Well I I have
learned so much. I feel like I'm really,
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really, I think the thing that stands
out to me the most is again I said this
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before, but this like being the
facilitator of education and
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conversation is especially in the
information age. I think that's some of
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just continuing to arm yourself with
new information is so valuable and so
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being in a position where you can make
that happen for other people,
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strategically your buyers but is a, I
just, I said this before, but it's a
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really benevolent position to take
Nicole. If people wanted to learn more
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about you or team pay, how could they
do that? Where could they go? Yeah, I
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am on linkedin. Nicole linden mom, you
can look me at, I'm happy to connect
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00:24:22.540 --> 00:24:25.710
and if you want to learn more about
team pay, you can come to our website
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00:24:25.710 --> 00:24:31.290
which is team pay dot C. O or check us
out on linkedin twitter, whatever your
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favorite social media is, you love to,
love to meet you. Well, thank you so
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much for joining me today. I'm going to
be growth. Thanks Olivia. It was my
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pleasure.
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Is the decision maker for your product
or service at BBB marketer. Are you
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00:24:47.670 --> 00:24:51.880
looking to reach those buyers through
the medium of podcasting? Considered
334
00:24:51.880 --> 00:24:57.100
becoming a co host of GDP growth. This
show is consistently ranked as a top
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00:24:57.100 --> 00:25:01.250
100 podcast in the marketing category
of apple podcasts And the show gets
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00:25:01.250 --> 00:25:06.820
more than 130,000 downloads each month.
We've already done the work of building
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00:25:06.820 --> 00:25:10.860
the audience so you can focus on
delivering incredible content to our
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00:25:10.860 --> 00:25:16.550
listeners if you're interested email
Logan at sweet fish media dot com.