Transcript
WEBVTT
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Conversations from the front lines of marketing. This is be to be growth.
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Welcome back to be tob growth.
I'm your host, Benjie Block, and
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today we are joined by Lori Cohen. She is a fractional CMO with chief
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outsiders. Lori, were so glad
to have you here with us today.
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Thanks so much, Benje. Glad
to be here. Let's do this.
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Lorie, just give us a quick
snapshot of what Your Work Life looks like
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these days. That that's a little
crazy. So you'd basically, I am
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a fractional CMO and so I'm basically
consulting and currently I'm working with two very
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different organizations. One of them is
a be tob company that's very well established,
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sort of. It's been around for
about fifteen years and it's INTECH,
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the technology space, and I was
brought in to help with the go to
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marketing strategy for a new product that's
actually called big animal and it's basically a
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SASS product that brings a fully managed
postgress to the cloud, like Amazon and
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Azure, etceter so. Think of
it as a startup within an established company,
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right. So I'm doing that,
YEP, and trying to help them
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actually find that lane to to really
grow the business. And then I'm working
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with another company that's actually more of
a services organization that this one is called
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the alternative board and they're like personal
peer advisory groups that help business owners to
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really become better business owners, to
manage their businesses, their personal life the
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community. So completely different and very, very different challenges with both of them.
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So I'm just a little schizophrenic.
How's that? You like? Keeping
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it interesting might be a nicer way
of saying it, but I'd totally I
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love that and I'm glad we get
to tap into your wisdom on today's episode,
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having the view that you've had into
a number of companies. We want
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to talk about this issue that you've
seen kind of over and over again,
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that brands will prioritize the mansion and
then eventually, basically, they hit a
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wall, they plateau, and so
I wonder when did you first start noticing
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this and seeing that as a trend? HMM, you know, to be
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honest, I don't I don't know
if I could say. Oh, that
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what my big Aha moment was,
to be honest. Yeah, my career
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for the most part has been around
building brands and building differentiation and I know
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that in the companies that I've worked
with, whether it was a startup or
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a company that really needed to read
position and grow, we saw once we
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did that at work and really got
it right, that it would that it
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became the engine to growth. So
I always believed in that. I always
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believed in differentiation. I always believed
in the fact that even in be to
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be you had to be really creative, right, and there was you needed
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to take what you learned and be
to c marketing and apply it to be
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to be. So I did.
I've been doing that really my you know
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say, for twenty two years.
I've always believed that brand is the essence
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of what separates the good from the
great companies and the ones that are going
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to continue to grow and the ones
that are eventually going to, you know,
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kind of stall out or just get
too expensive to grow, you know,
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because it's just, you know,
for every new customer it's going to
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take so much more money to cull
through a thousand white paper downloads and find
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maybe one potentially. Yeah. So, okay. So you talking about repositioning
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there and it's more than just a
different sales or marketing approach. You really
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do believe it goes back to brand. I feel like I found myself in
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several conversations recently where we're talking about
why is brand sort of this word we
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don't bring up, and especially be
to B board rooms? But explain a
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little bit more of a why you
feel like brand is the thing. Why
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is it branding that you care so
much about her? You feel like this
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comes back to yeah, so I
guess I would say think of it,
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think of yourself. Right, forget
be to be, be Toc we're just
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people, right, get up in
the morning, whether we're a CTEO at
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a company or a journalist or a
developer. Right, we put our pants
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on or our sweat pants on,
you know, one way at a time.
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We're just a person, right.
But for some reason, be to
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be companies have got it in their
head that as soon as you become the
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CTO from nine hundred and twenty five, you seem to want to communicate and
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get information in a really different way
than when you're in front of the TV
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or you're reading a newspaper, or
you're playing a video game or you're playing
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with your kids. Right, and
searching for the things that you want.
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And so my fundamental belief is that
we're just people. Nothing changes when we
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become during the work day, that
nine hundred and twenty five or whatever that
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is. So communicate with us.
Communicate with us in the ways that we're
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going to respond. And we know
from B Toc companies and from marketing overall
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we respond emotionally to brandams. We
do. So why, when you're thinking
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about a bet to be company,
do you take that emotional way and talk
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about bits and bites and features?
Right, why don't you tap into this?
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is going to make your life better, your work like better, it's
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going to help you get a promotion, you're not going to get fired.
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I mean, think about it,
like IBM knew it way back when,
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when they really came up with the
concept, is nobody gets fired when they
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buy IBM. Like they understood the
fact that it's me, me, the
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person that are that's making those decisions, that are taking those risks. Appeal
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to me. Don't talk to me
about the bits and bites. You know,
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we have our rational brain and we
have our emotional brain and most of
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the time, in complex buying decisions, we totally use both, and I
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need to be typically we go for
that rational just we lock it on the
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rational and we forget about the emotional, and that's what I think kind of,
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you know, ends up, you
know, kind of falling flat.
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Okay, so let's go down this
road for a second with be to be
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brands that kind of do fall flat
a bit. And what, when you
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think of in your mind, are
the symptoms of a poor brand? So
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I think if you're really looking at
that kind of revenue mix, and at
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the end of the day, we
really do want marketing to drive pipeline right,
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and we wanted to drive closed in
one business, I think the symptoms
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are you're using those same channels here. You're just blasting and through money on
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Google ad words right, you're probably
doing a lot of linked in stuff and
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basically the leads if you get them, if you get somebody to fill out
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a form chances or where you're doing
content syndication, because that can bring in
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a lot of leads really quickly.
What happens is if you actually follow the
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funnel and think about like what converts, how often, what's the payback,
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you're going to find that those type
of leads probably convert at a point one
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percent after a year. So that
one in a thousand is probably about what
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it is. And that's what's going
to happen. You know, you're not
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going to fill a pipeline. You're
going to feel good, you're going to
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create all these quote MQL's right if
you're measuring that, but they're not going
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to convert into sales opportunities and they're
not going to work their way down the
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pipeline, right, because you're not
differentiated. You know, you're kind of
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like spraying and praying with a message
that's not resonating. Only when you and
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so you see it. You know
you might not see in q one,
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but you're going to. You're going
to eventually see that your pipeline is going
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to a road. There's no juice
behind it to get it going again.
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So if you step back and you
you know you don't play in the sales
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team because they're not following up on
your leads, and the sales team doesn't
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Brill in the marketing team because they're, can I, creating junky leads right,
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and you just sort of step back
and say, let's just sort of
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analyze, let's just really analyze.
Where are the leads coming from? What
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do we think is qualified? What
isn't qualified right and do that analysis,
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you're probably going to see that you're
not bring yeah, at the end of
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the day, you're not bringing fires
in in the right time in the buying
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cycle. So I'm not I'm not
going to say your lead suck, I'm
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going to say they're probably not at
the right time in the buying cycle right.
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So you got to fix that.
And it's not just magic. Oh
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I'm going to fix the brand,
like the brand is just one piece of
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it. Then you have to layer
on kind of the right kind of programs
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to reach the buyer that you want
at the right time, when they're in
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the right time in the buying cycle. But if you just simply focus on
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Google, add words, bits and
bites and don't try to create some sort
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of emotional connection, it's going to
be much harder, much harder to find
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those buyers when they're ready to buy. And I'm not saying it's easy.
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I mean I struggle with it every
day. We're trying to come up with
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some campaigns for, you know,
big animal. It's not. I'm not
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saying it's easy, it's not.
You know, it's really hard. And
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the way you get those insights is
not by sitting in the room, but
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it's by talking to potential customers.
They're the ones that will provide you with
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the insight that you need. But
often times you don't. You don't do
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it, so you don't get that
that raw kind of input. You need
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to create that connection and then figure
it out in the right kind of visual
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you know, kind of message to
the audience. You know there's short running
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we we all do it. We
think we know, so we put something
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out there, etc. So I
would say you know what the symptoms are
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because you know it's hit in the
bottom line, it's harder to fix it
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right because you got to be committed
to fixing it and fixing it is not
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something that you do overnight. There
is an amount of work that goes in
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to really trying to understand that customer, understand their pain points and then convert
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that in the kind of messaging that's
going to resonate with them. Hey,
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everyone, if you've been listening to
be to be growth for a while,
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you know that we are big proponents
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All right, let's get back into the
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show. There is an amount of
work that goes in to really trying to
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understand that customer, understand their pain
points and then convert that in the kind
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of messaging that's going to resonate with
them. Yeah, understanding before repositioning,
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because that's one thing is we can
see a gap and we can go,
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Oh man, we got to fix
it. So we got to do something
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quick, and then you realize it's
actually going to get there's an understanding you
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need to have of your customer before
you would ever actually be able to steer
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the ship in the proper reposition.
So you mentioned brand and programs. I
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want to stick to the brand side
here. Maybe define for us what sits
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in that bucket to you, because
I think some, because we don't use
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that word as much in be to
be, we all might be like,
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well, is it kind of everything
we do a little bit about, a
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little bit of brand. But what
to you, Lari is, is brand?
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Like what's it's in that bucket that
makes it so important? It's it's
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what the customer thinks about you,
period, plane and simple. It's how
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they relate to you. So brand
involved of everything from the experience right going
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through your website, finding what they
want, ordering something, not finding what
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they want. So it's sort of
like I think brand is every touch point
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that someone has with you all together. It creates this kind of feeling and
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the their thoughts in their mind becomes
the reality and the relationship that they have
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with your brand. So branding,
branding is a logo, branding is a
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name, branding is a color Palette, right. That's branding. Brand is
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all those other insights and experiences that
someone has when they think about your brand.
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It's what they're going to say about
you when you're not in the room
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that you know. There's one good
question. If you want to know if
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you have a good brand and people
care about you, ask your customers how
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they would feel if your brand was
gone tomorrow. I mean, would they
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care? Would they go, Oh, okay, I'm just going to go
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to x, Y and Z,
or will they be like wow, I'm
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so bummed out that you're not going
to be making x y Z. that's
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that connection, right. So you
can ask that very simple question, how
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would you feel if our brand was
gone, and you'll get a real sense
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of is there an emotional connection to
with that bran and do people care?
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Do People Care? So for those
that might find themselves in a season of
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Plateau right, which is what we
were talking about at the beginning, I
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guess maybe I shouldn't speak directly to
those people. But I would say,
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is there something that we can do
to avoid that plateau if possible, or
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do you feel like it's a natural
part of the cycle that you realize,
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okay, we're plateauing and now it's
time to change it up, to reposition,
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and that's worth it? You know, I think it all depends,
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right, it all depends on so
many factors. So I won't do all
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companies hit the wall. Will probably
not right. But you know, I
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think that if you do find that
your pipeline is going in the wrong direction,
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it's not going up into the right
your hit. You're missing your numbers
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at every quarter. Again, step
back, don't point fingers, because it's
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not going to don't fire the head
of sales, the head of marketing,
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you know what I mean, and
bring in you know, rearrange the jet
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deck chairs. Yeah, we becomes
sports teams, right, we just fire
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the coaches. Well, happen?
How, come on, I have is
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it be to be all the time, right, all the time, and
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then that next person gets way more
resources than you ever had to do the
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kind of things that you wanted to
do. So step back, take a
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deep breath and say, you know
what we can fix this, but let's
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step back and do what we need
to do. So let's start with that
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customer research. Let's figure out why
our brand isn't connecting, and those are
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the bread proms. Do those interviews. Talk to sales, talk to customers,
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talk to analyst, do all kinds
of third party research. That doesn't
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have to be super expensive. Gather
that data, the more first person with
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customers the better. Then take a
deep breath, look at it and try
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to understand kind of what it's telling
you. Because if you have an issue,
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whether it's that experience, you're disappointing
customers, you have bad reviews on
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Gtwo or trust radius, start addressing
those things right. Start addressing those things.
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If you believe in the company and
you believe that you have a good
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product. Had A few missteps,
you can make that right. You can
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totally make that right, but it
has to be very deliberate. You have
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to, you know, start one
step at a time to kind of fix
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that. Yeah, there's it's interesting
because I wrote down as you were you're
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talking there. There's internal and there's
external brand as well. So there is
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the way that you think of your
customers think about you, and then there's
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also the way that your employees think
about the brand and think about the thing
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that they're a part of, and
it's oftentimes you can tell that something's leaking
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either. Sometimes it's on both sides, but, like you definitely can tell
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in that mix and brand encompasses both
and I think you're in a great job
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of saying how we can potentially re
position or start to identify and then change.
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You mentioned strong why you mentioned and
delighting the customer. One another one
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I think we talked about maybe offline, was this idea of crisp messaging being
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a big part of brand. I
wonder how you solidify that and kind of
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hone in on that new sort of
crisp messaging. Yeah, that's a great
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point and and I first want to
go back to what you said. You're
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absolutely right that brand has like it's
three, three hundred sixty degrees. So
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it's critical to get that alignment inside
and outside. So that I'm glad you
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brought that point up. So really
interesting. I had an I had an
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exercise. It could have even been
this morning, but this other company I
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was I'm working with right we did
all this research, we did customer surveys,
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talk to a lot of people looked
at their competitors, you name it,
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looked at their positioning and everything else. I really had after all of
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that. It's not like I pulled
it out of the air. I mean
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I actually really felt like I understood
where they could play and I articulated it
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in a meeting and I got hit, swatted down by the CEM. How
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does that mean? And I'm like, I kind of decided to not push
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it. Okay, I'll go back
to the drawing board, I'll figure out,
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try to come up with something else
right and I tried to do that,
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but in my heart of hearts I
kind of thought that it was the
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right positioning. So fast forward to
this morning. I was invited in.
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They call it a in advisory board, a customer advisory board. Listen for
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about an hour. They were talking
about why they join, what their experiences
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were, how they felt, and
I then, when we got to talk
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to them, I sort of floated
this idea very gently about what I was
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hearing and I articulated the way I
thought. I didn't say this is where
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I'm going to position the company.
I said, well, do you think
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this sounds like? Is this what
you're saying? And are. All the
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heads nodded and the CEO was on
the call, by the way. All
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the heads nodded. And then we
got into that and they really dug into
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it and gave these unbelievable examples of
why they felt that way. and to
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me now again, that's what there
was, only validation by sex, but
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to me that's the start of it. You know, if you can get
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people who use the brand to go, that's exactly how I feel. To
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me, that's like super powerful,
but again, not in a vacuum.
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You always need that feedback, because
I could come up with something that's so
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off the wall right and then customers
aren't going to respond to it at all.
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You have to take your ideas and
test it, test it tested before
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you roll it out. But that's
good validation. Like I feel very good
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that we're on our way to coming
up with the right answer for positioning this
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company right because of that reaction we
got today. I love that as an
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example and it really does drive home
the important because with and and with messaging,
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if it's not resonating with the people
that it needs to resonate with and
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it's not worth anything. Can Be
the most creative thing ever but clearly that's
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not like that's not the ultimate goal, right, we're helping solve problems and
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so exactly it. There's a there's
an expression being too clever by half.
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You know, I don't know if
you get before. Yeah, well,
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sometimes, and I could be guilty
of it too, you know, you
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try to be clever and you are, but you miss you miss your you
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miss your audience. Great, you're
clever exactly. So that's kind of like
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being clever by by had too clever
by half. Yeah, I like this
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a good, great conversation here,
Laurie. I. As we start to
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wrap up, I wonder any resources
you would point us in the direction of
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things that help you continue your thought
process on brand and for those that want
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to continue to go down this road
and think about repositioning specifically around brand,
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anything that you would point us in
the direction of? So you know,
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there are there are books like Blue
Ocean strategy that you could read that I
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think is good, which is sort
of an Oldie, you know, but
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but still incredibly relevant, even if
you read books like good to great also,
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you know, kind of good good
reads, some of the other stuff.
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I mean, I do listen to
PODCASTS, I listen to demand Jen
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live. I listen to a podcast
by the guy who I'm so bad at
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this, who started like linkedin.
That's also good. There's books on positioning.
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I mean I can kind of give
you a whole like laundry, laundry
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list of of things, but linked
in, just following some of the right
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people on Linkedin. Yeah, Da
Dave Garret Gerhart is another good one to
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listen to. So it's always good
to like, you know, also get
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different perspectives and find some really strong
beat Toccmos to follow right and that's another
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way to kind of see what they're
doing and try to take what they're doing
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and incorporate it in in what you're
doing. But honestly, I just try
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to stay you know, read the
Harvard Business Review. You can get it
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online. You just try to try
to take in kind of as much information
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as you as you kind of have
time for, because there's nuggets and so
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many you know, kind of so
many areas. Yeah, Yep. Well,
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I know there's going to be people
that are listening to this that want
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to stay connected with you, Laurie. Take a minute tell us where we
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can connect with you and then tell
us a little bit about chief outsiders as
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we wrap up your okay, sure, so the place I'm probably most active
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is linked in, sometimes more active
than not, so that's a great place.
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I am on twitter with the handle
cat strat and those are probably the
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two best places. Or the other
place, as you said, I'm working
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for a company that's called chief outsiders. So that's really easy. Chief Outsiderscom,
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and it is a group. It's
a national organization of right now a
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hundred and ten CMOS that had really
like impressive careers and have decided that they
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don't want another corporate full time job. They want to be a fractional CMO.
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And I joined at the beginning of
the year. I'm actually number ninety
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seven, so I got in under
a hundred Anna and that's great. And
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there there are CMOS that have experience
in industry, tech, beat a bit,
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you name it. If you have
a problem, I'm telling you there's
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someone in this group that can solve
it. And mostly we work with,
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say, midsize, some small mid
sized companies. Say sweet spot is probably
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fifty to a hundred, you know, million dollars in revenue and it's,
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you know, oftentimes doing the things
that I talked about you know, how
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do you start that growth engine again? What's the plan you need? You
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know, and then basically, we
come in. It could be for like
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a sixmonth Gig to really take them
through, you know, from strategy all
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the way to execution, and then
get them to a place that we can
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leave and they could execute on their
own. So it's free, it's very
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I'm really excited to to be working
with chief outsiders. It's a great group
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of people, professionals. Well,
you were our fractional CMO today for be
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tob growth as well. You came
in, you consalted, you did your
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job and now you get to leave. We want to say thanks so much
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for being on the show and and
dropping these insights. I know we're walking
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away with a number of things around
brand and how do we kind of get
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back on track if after we plateau
in this episode. So, Lori,
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thanks so much for spending time with
us on BB growth. We're always excited
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to have conversations with leaders on the
front lines of marketing. If there's a
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marketing director or a chief marketing officer
that you think we need to have on
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the show, reach out email me, ben dot block at Sweet Fish Mediacom.
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I look forward to hearing from you.