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OPEI's 57th Annual Meeting
Revenue GrowthT.J. O’Connor and I are looking forward to speaking on June 25-7: Ritz Carlton-Lodge Reynolds Plantation One Lake Oconee Trail Greensboro, GA 30642 Abstract: Companies are undergoing a massive shift in investment away from traditional media toward online media. New web sites and social networks are accelerating brand awareness and audience engagement. Customers are making their product purchase selections and engaging brands online. While they follow a familiar buying process, the selling process needs to adapt to a more dynamic online environment that you can’t fully control. How do you capture customer value in a complex online environment? The answer is to use new online marketing strategies to nurture and engage your direct and indirect audience across the buy-sell process. opei_newsletter09_spread
Digital Marketing Strategy Checklist
Inbound Marketing, Revenue Growth, Revenue Marketing, Social MediaWhen setting out to develop an Internet Marketing strategy, you need to connect the dots between a wide range of business, marketing, technology and project elements.
A web strategy today involves a lot more than your web site. In the late 1990s it was very much about defining your branded online presence via the web site and related web services and online applications. Today, with the important roll of Search and Social Media, your brand presence must now consider delivering impact and engagement across the broader social web and involves a far more sophisticated strategy for inbound marketing and lead capture. With that in mind, if you are about to embark on a comprehensive Internet Marketing Strategy, you might want to get answers to a range of questions. So, here is a list, but let’s add to the list- what have you found as critical success factors and key issues that should be addressed in developing your internet strategy.
1) Market, Audience and Sales Model – You need to define the underlying business model for marketing and sales so that you can tie your Internet Marketing Strategy to business goals:
2) Functionality and Services – Now that you understand your core business model and your audience, what are the capabilities that your audience will be seeking to engage your brand online – both at your site(s) and across the social and mobile web?
3) Branding and Design – maybe you already have a brand identity – including logo marks and look and feel -but you may also need to develop a “brand architecture” that ties together all your related product and services into a unifying identity – both on and offline.
4) Content and Information Architecture – How do you arrange your content into a clear information architecture that your audience can understand and access?
5) Marketing and Promotion – After you build out your sites, Internet presence, content and services, how are you going to attract the audience?
6) Technical Architecture Design – Once you have defined an overall business and functional blueprint, it will be a lot easier to select the right technology foundation to handle your needs.
7) Operating Model – This is a key step to your strategy – defining a core business and process model that will ensure your digital assets and systems are well managed and that your content and services are up to date.
8) Implementation Plan – With all the core business, marketing and technical elements framed out, you can now better layer in an overall project time line driven by critical business commitments.
Fixing the B2B Revenue Engine
Inbound Marketing, Revenue GrowthWith the advent of new media and digital marketing, marketing and sales needs to be joined at the hip. There is a lot of focus now – even more than usual – on sales and the revenue model and how to make it work. With tougher economic times, business leaders are looking with even greater scrutiny at how the revenue model is working and what levers to pull to make it work better. The usual focus is on the sales team– putting in harder metrics and drivers in place to force the issue and make sales happen. The real opportunity, however, is by looking a little more broadly and connecting the pieces that make an overall “revenue architecture” work. There are 100s of drivers for revenue generation – including pricing and product quality – but what is often overlooked is how effective marketing and sales are coordinated to link the complete value change from awareness to closed deals. With the advent of digital marketing and social media models, the line between marketing and sales is increasingly blurred. Organizations need to be thinking less about one-off campaigns and more about continuous conversion strategies across the value chain funnel from brand awareness to closed deal. Successful organizations are using a new marketing model – increasingly centered on using digital marketing platforms to drive end-to-end awareness and demand, nurture opportunities and close business. Here are some elements we see within high-performing organizations- put these in place successfully and your marketing and sales machine should begin to work well: Setting and communicating clear strategy
Driving visibility and awareness
Engaging across the funnel
In Search of Closed Loop Marketing Models
Inbound Marketing, Revenue GrowthWe are working with a few clients to build and deploy solutions for Closed Loop Marketing. I was reviewing my materials and presentations in preparation for a meeting next week and thought I would scan the web to see what is out there.. I wanted to see a visual image – or diagram – that painted a good picture of closed-loop marketing. I found a huge amount, bit very little that was on target with a good CLM vision and captured the key elements of both traditional and new media marketing. Marketing is one of the last business functions to embrace integrated technology solutions to automate the management of marketing logistics. Unlike ERP and CRM, Marketing Automation is only now beginning to hit the growth curve. With the advent of new media and the business complexity in managing data and blending traditional and new media channels with CRM/ sales force automation, leading companies are now adopting more sophisticated solutions. New technologies and new approaches are make Marketing Automation more attractive. My google search for images around CLM resulted in quite a number of images – few that made sense for my purposes.
So what is next? I am going to put together the story and make sure it includes a comprehensive view of CLM – in particular – for this client -from a B2B perspective. Elements of the model must include:
Effective Practices in Technology Project Delivery
Revenue Growth, Technology & WebsitesBy focusing on five things, you will begin delivering projects more effectively and build a better “project culture”. We understand that effective project and program delivery is vital to support the agenda of and organization and that good project management is a critical business skill. Even in the challenging climate, typically the demand for projects exceeds the capacity to deliver. In addition to good project management, organizations need to effectively manage a portfolio of projects. Different groups within the organization compete for scarce resources and priorities and needs change over time. Too often, we see the same set of issues go wrong in project delivery and we also see the most mature organizations succeed across a number of dimensions. These successful organizations are, in particular, strong at linking projects and programs to business strategies, establishing strong cases for change, and maintaining a good “project culture”. Success is less about the fact that a set of project management standards exist, it has more to do with the quality and commitment of people, the collaborative culture of project delivery (business and technical) and the maturity of ingrained project delivery practices within the organization. Some of the problems we often see include:
So, how can you ensure improvements in project delivery? The answer is in focusing on an the end-to-end approach of portfolio management, ensuring business change is managed, and delivering on objectives with a credible projects culture: 1) Manage the project portfolio: Before you even begin, ask yourself the question; Should we be doing this project? Successful organizations manage a portfolio of projects well and understand the interrelationships and architecture impacts. They also establish the clear linkage between projects and business strategies. 2) Architecting the solution and approach: the project approach and timeline must reflect a complete understanding of both the business and technical aspects – and clarify how the project will be delivered around milestones and collaborative working. Successful projects are characterized by the right mix of management, technical and business skills, as well as the underlying infrastructure. It is also important to select technologies based on business need rather than technology elegance. How well does the solution design fit with the organization-wide systems architecture? Ultimately, a well designed solution that ties into the overall enterprise model will deliver far greater value to the business – as long as you consider the business needs for time-to-market. 3) Setting up proper resourcing and commercial structures: How should the project be sourced? What are the critical skills and specializations? What existing solutions could accelerate the project delivery and improve quality? Who should you engage? Ensure that you have structured and effective commercial and service interface arrangements with your partnering suppliers. 4) Delivering Change: Most technology projects are 20% about technology and 80% about business change and adoption. You can’t skip the steps in delivering change- ensuring the project is rational and the case for change is clear and agreed, making sure the project is ready with the structures and plans for success, delivering the project well- with both the business and the project teams, and importantly – making the delivery stick by embedding the changes in the organization. 5) Project Control: How effective are team members and time allocations? Use clearly defined procedures appropriate with to the project objectives. Be pragmatic, rather than bureaucratic. Manage to quality and benefits, while effectively tracking and communicating time and budget with the right set of technology tools and reporting. Successful delivery of technology projects is about more than implementing project management procedures and controls. Successful organizations effectively manage the complete portfolio of projects. They also have more then a set of standards, they have the right people with the good delivery skills, values and collaborative working styles to ultimately build a “projects culture” within your organization.
Semantic Technology is Real
Revenue Growth, Technology & WebsitesSemantic technology addresses the data-explosion problem by providing more intelligent ways to search, sort, and filter data based on business and user relevance. So, what is Semantic Technology? Here is what Tim Berners-Lee stated as a vision back in 1999: “I have a dream for the Web [in which computers] become capable of analyzing all the data on the Web – the content, links, and transactions between people and computers. A ‘Semantic Web’, which should make this possible, has yet to emerge, but when it does, the day-to-day mechanisms of trade, bureaucracy and our daily lives will be handled by machines talking to machines. The ‘intelligent agents’ people have touted for ages will finally materialize.” Semantic Technology is often referred to as “Web 3.0”. At it’s core, Semantic technology is a new and more innovative way data is created, stored, and exchanged. Instead of the classic relational approach, where data is used in a software application based on its relative position in a tabular framework, semantic data is created with embedded meaning. This meaning is assured by creating the data using a pair of standards called the Resource Description Framework (RDF) and the Web Ontology Language (OWL). RDF creates flexible data, free of the tabular constraints of the relational approach. OWL defines ontologies, which are domains of described data relationships. Semantic technology mates RDF’s flexible data with OWL’s intelligent descriptions, which results in “smart data”. With smart data, the user can experience data’s utility within context. With data in a semantic format, a variety of new IT capabilities become possible. Because the data is self-describing (has meaning) there is much greater flexibility in designing, modifying, and changing semantic applications. This will help address several major challenges facing IT today.
Advanced semantic middleware frameworks are being created by software leaders like Cambridge Semantics (Sean Martin and Lee Feigenbam ) and architected by colleagues at CrossTech Partners including Colin Britton, John Saber, and TJ O’Connor. Cambridge Semantics has also developed a powerful set of solutions to unleash data from the 1,000s of spreadsheets being used across enterprise clients and dramatically enable data collaboration. Best practices and development models are becoming increasingly available, making semantic technologies more accessible to a broader group of developers. As these technologies move from the “third circle” (bleeding edge) to the “second circle” (today’s innovative technology) we can fully implement compelling new solutions for advanced search and relevance engines for information access. We can integrate these new applications with social software and deliver compelling new experiences for big brands and their audiences. Lee Feigenbam is a contributing author to this article.