Commercial Due Diligence Services for Private Equity Investments

Commercial Due Diligence Services for Private Equity Investments

by | Jul 27, 2023 | Business & Marketing Strategy, Insights, Marketing Planning & Execution, Storytelling & Branding

Commercial Due Diligence Services for Private Equity Investments

&Marketing, and marketing, outsourced marketing strategy

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Private equity acquisition is a complex undertaking with countless moving parts. Your company’s funds, time, and reputation are all on the line, and as new products emerge and marketing capabilities expand thanks to advancing digital intelligence, it’s more important than ever that you know the commitment you’re making.

Commercial due diligence offers invaluable clarity into your acquisition, from helping you determine whether or not it’s worth the investment to understanding how to maximize its opportunities for long-term growth. Today, more and more private equity firms are choosing to outsource these services — and they’re quickly seeing all the benefits that it provides.

What is Commercial Due Diligence?

A commercial due diligence is a critical deep dive into a businesses’ current position and future potential. Typically led by an executive marketing consultant (or a Fractional Chief Marketing Officer), this internal review involves assessing everything from a company’s ability to attract and retain customers, its market positioning and digital presence versus its competitors, how it defines its brand positioning and value proposition, and a number of other key elements that allow a business to identify opportunities to accelerate growth and value creation. 

Here’s what you can expect from an effective commercial due diligence: 

  1. A deeper understanding of your acquisition’s market dynamics, competition, and customers/consumers
  2. A robust roadmap for growth and a holistic marketing plan  
  3. Practical strategy execution with detailed analysis of the results and expected ROI

     

Outsourced commercial due diligence services typically involve a fractional CMO supported by digital specialists brought in through an agreement customized to the needs of the company. Their scope is specifically process-driven to help frame your portfolio company’s scale up, while ensuring you have the proper guardrails and strategic oversight to meet your long-term growth needs.

 

Why Do Commercial Due Diligence?

In the case of private equity firms, a commercial due diligence can offer invaluable clarity into the long-term potential of their investment through the support of highly experienced subject matter experts with practical advice and support to execute, ensuring the most meaningful results and greatest ROI.

This process will focus on fully understanding the target acquisition’s opportunities to determine whether there is potential for significant growth to create shareholder value. In many cases, commercial due diligence consultancy is usually employed after the private equity firm has conducted enough initial due diligence that it is willing to invest the time and resources to gain more transparency and confidence into whether it is a good investment opportunity in the long-run. And it can either be done pre or post-acquisition.

How Much Does Commercial Due Diligence Cost?

In order to best understand the costs associated with a commercial due diligence, it’s important to know your options — and what you’re getting. For example, &Marketing offers a flexible engagement through a retainer or “on-demand” model with various activities scoped on an ad-hoc basis. These retainers are typically for an initial project that is defined based on the specific target company’s needs (strategy, research, digital ads, SEO, email marketing, social media, etc). They can also be done as a “percentage of full time” on a weekly basis and paid monthly with a typical 3-6-month minimum engagement.

Here is a breakdown of a commercial due diligence framework/checklist and the associated costs

Market Position Analysis

  • Determine the company’s target markets or audiences based on its sales, margin, and customer retention history  
  • Review and map the company’s positioning verses its competition for selected dynamics, such as value, uniqueness, market share & growth potential
  • Determine whether the product and service positioning is “True, Distinct & Compelling” 
  • Map out the company’s Core Competences to determine whether it has sustainable competitive advantage
  • Costs range from $10,000 to $20,000.

Customer Insights Collection

  • Interview the company’s current and previous customers to guage how compelling and unique its products and services are from the perspective of their target audiences
  • Interviews with customers to reveal what’s effective & what’s not:

    a. Why they purchased
    b. The products/services’ strengths & weaknesses
    c. Level of customer satisfaction & the likelihood they’ll continue to purchase or use products/services
    d. The reason past customers chose to leave

  • Determine retention rates among customers over the last 12 to 18 months. (Note: many start-ups may have lower retention rates as they home in on higher potential target groups. For quick turnover consumer products, the metric here is repeat rate, which should be at least 50%)

  • Typically, 25-40 qualitative phone interviews are performed for a cost of approximately $15,000 to $20,000, or online surveys can be utilized with costs ranging from $5,000 to $10,000

Digital Marketing Strategy Positioning

  • Evaluate the company’s website for content, positioning and messaging, ease of use and technical functionality, and suitability for future value creation
  • Initiate discussions with key sales and marketing leaders to understand the existing lead generation pipeline and processes for managing leads generated to identify opportunities for future revenue growth
  • Conduct in-depth analysis to determine the company’s and its competitor’s digital strategy, approach, and effectiveness, quantifying its digital presence and identify high ROI approaches to accelerate revenue growth
  • Costs range from $10,000 to $50,000, depending on complexity

Marketing Capabilities Review

  • Evaluate the company’s marketing materials, both printed and digital
  • Conduct interviews with marketing teams regarding strategy and success to date
  • Work with the management team to outline the strengths and weaknesses found
  • Recommend cost effective improvements and internal organizational changes
  • Costs ranges from $5,000 to $10,000.

Is Commercial Due Diligence Stressful?

Performing a commercial due diligence can be time consuming and resource intensive if you try to tackle it internally without the right resources, bandwidth, or expertise to do it properly. This is why more and more private equity firms are relying on outsourced fractional CMOs and marketing teams to handle the commercial due diligence of their portfolio companies on their behalf. 

While some commercial due diligence experts will leave the execution of your marketing strategy to your portfolio company or a third party, there are full service digital agencies that provide the executive leadership and marketing team to see the entire process through from pre-acquisition advisory to practical execution. This approach not only leaves you with a single point of responsibility throughout the process, but also decreases the risks of issues and unapproved changes to ensure the overall effectiveness of the investment. 

To learn more about the benefits of outsourcing your portfolio company’s commercial due diligence consulting to ensure you’re harnessing the best solutions for long-term success, contact the digital marketing experts at &Marketing today. 

 

 

About the Author

As the Founder & CEO of &Marketing (www.and-marketing.com), Raj and his team strive to provide growing businesses unparalleled marketing strategy and execution services. Raj has more than two decades of experience in B2B and B2C marketing, sales, & strategy. He has led nearly 100 high-profile marketing strategy projects for Global 100, mid-sized clients, and SMBs, plus over a decade with General Electric and General Mills. He is a sought-after advisor and facilitator, with experience across five continents. He is known for bringing the best of ‘big company’ marketing and strategy to smaller companies without the baggage, his bias for practical implementation, and his unrelenting customer focus.

Are you facing challenges of your own in generating leads and meeting your business’ growth goals?

We’d love to learn more about your challenges and how a coordinated marketing approach might help take your organization to the next level.

Is Fear of Negativity Holding Your Marketing Team Back?

Is Fear of Negativity Holding Your Marketing Team Back?

by | Jul 17, 2023 | Business & Marketing Strategy, Insights, Marketing Planning & Execution, Storytelling & Branding

Is Fear of Negativity Holding Your Marketing Team Back?

&Marketing, and marketing, outsourced marketing strategy

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Sometimes marketers obsess over maintaining a glass-half-full viewpoint in their content, believing it’s always better to show the customer positive benefits rather than “focusing on the negative.” While it’s true that you don’t want to stress out your audience, both B2C and B2B shoppers are savvier than ever. When your brand avoids acknowledging the real-world problems your audiences face, you risk being seen as out of touch and artificial.

When you face reality head-on (without dwelling or sounding defeatist), your brand earns more authenticity among those looking for a solution. They’re more likely to give you their time when they can see that you understand their challenges.

If brands want to cut through the noise to capture their audience’s attention, empathize with their struggles, and differentiate themselves, it’s time to get more comfortable with a little negativity.

The Power of Bonding with Your Audience Over a Problem

It may feel counterintuitive to risk stirring up negative feelings in your audience by drawing on negative experiences. But when done correctly, it can help with reader retention and engagement by creating a shared experience and tapping into emotion to make the reader feel seen and understood. For example, an electronic lock brand may reference the frustration of losing your keys or getting locked out, a common negative experience that most people understand and can bond with the brand over.

When incorporating the StoryBrand framework into their strategy, marketers must understand that “every story is about somebody who is trying to solve a problem, so when we identify our customers’ problems, they recognize us as a brand that understands them.” (Donald Miller, Building a StoryBrand)

If we want our audience to pay attention, we have to position ourselves as offering a product or service they can easily use to solve that problem. To do that, we have to clearly identify and articulate that problem so they can see that we understand what they’re dealing with. StoryBrand marketers turn that problem into a personified villain so we can tell the audience a story about themselves as a hero, overcoming the villain using our products and services. Stories are only compelling because they include a struggle, a challenge to overcome. If we limit ourselves to only discussing the positive, we can’t create as effective a story.

A great example is a Rug Doctor campaign that showed people “steaming mad at dirt,” angry at their soiled rug. While most people aren’t enraged by a dirty rug, they certainly don’t like it, and this makes for a more interesting story than simply offering the benefit of a clean rug — the audience’s aversion to dirt is more powerful than their appreciation of cleanliness. Starting with a clean rug doesn’t make for an interesting story, because there’s no problem for the hero to solve. A clean rug is a nice benefit but a poor attention-grabber.

4 Examples of Useful Negativity in Marketing

Personify problems as villains.

Personifying the audience’s central problem as a villain is vital in marketing storytelling. For example, the medication brand Mucinex has done a great job of personifying mucus as nasty little monsters living in your sinuses — and positioning their product as your best defense against the invader.

Try a “negative” headline or title.

Refer to the title of this blog as an example of a negative headline: Is Fear of Negativity Holding Your Marketing Team Back? This headline introduces doubt and the potential that the reader may be doing something wrong — but there is also the implied promise of a solution. The important thing to remember when using this tactic is to provide solid content that offers a solution or a way to improve.

Take a stand.

Take a stand for something your brand believes in. This might involve something controversial, possibly a social or political issue, but it doesn’t have to be that serious. You could have what constitutes a ‘hot take’ in your industry but is low-stakes for those outside your audience — like an audio/video company stating that the industry should have chosen the Beta video format over VHS. Some may disagree with you, but it could be worth it if it gets people talking and associating your brand with a specific position on the topic, especially if you have the data and experience to back it up.

Poke some fun at yourself.

A little self-deprecation and self-awareness can go a long way. For example, Domino’s Pizza acknowledged that many customers thought their crust tasted like cardboard and pledged to improve the recipe. This helped to humanize the brand while proving to customers that they not only listen to their feedback but also take it seriously enough to take action.

Tips for Using Negativity Effectively in Marketing

Referencing negative experiences or audience problems is essential, but requires practice and diligence to ensure it’s done effectively. Here are a few tips to help you maintain balance and avoid alienating the audience:

  • Be sure you truly understand the audience’s problems and the negative emotions those problems cause.
  • Be subtle — it’s best not to be heavy-handed or extreme when referencing negative experiences.
  • Once you’ve formed an emotional bond over a shared negative experience, shifting the mood quickly to a solution is important. Don’t dwell.
  • Show the reader that the solution is simple — there’s an easy way to escape from this situation, and we can show you how.

Overcome the Fear — We Can Help

From learning how to effectively use negativity in advertising and marketing to building a content marketing calendar and measuring its ROI — and more — we can help! Contact &Marketing today. If you want to DIY your brand’s messaging, download our narrative marketing outline as a guide.

 

Nail Down Your Narrative
About the Author
Content Specialist Kim Steinmetz helps brands and thought leaders discover and develop their unique voice and tone while establishing authority on a topic through compelling messaging and copywriting. An accomplished writer and marketer with over a decade of experience, Kim is well-versed in both B2C and B2B content.

Are you facing challenges of your own in generating leads and meeting your business’ growth goals?

We’d love to learn more about your challenges and how a coordinated marketing approach might help take your organization to the next level.

Brand Storytelling: Winning Business by Making Your Customer the Hero

Brand Storytelling: Winning Business by Making Your Customer the Hero

by | Jan 3, 2023 | Fractional CMO, Insights, Marketing Planning & Execution, Storytelling & Branding

Brand Storytelling: Winning Business by Making Your Customer the Hero

&Marketing, and marketing, outsourced marketing strategy

Written By

These days, you can find any information you could want online. Thanks to Google, instant gratification has become a daily feature in our lives. What has become more rare, however, is human connection.

That’s why connecting with consumers more deeply as human beings has become more effective. It’s not enough anymore to simply share the logical reasons why your brand has something special to offer. To cut through the noise of today’s oversaturated markets, you also need to weave emotion and empathy into a narrative that captures and holds their attention.

Why a narrative?

  • Storytelling has been shown to increase oxytocin production in the brain, which encourages people to feel more empathetic and willing to participate in a shared, cooperative experience.
  • Audiences naturally engage more with emotions, ideas, and values over products and services.
  • A memorable brand story gives consumers a stronger impression of who you are and what you stand for, ideals that are more likely to inspire loyalty.

Storytelling is always at the core of what we do for our clients, and we’re passionate about helping organizations realize the power of its impact. Below, you’ll learn more about the neurological impact of storytelling on the human brain, the basics of brand storytelling structure, and how positioning your customer as the hero positions you to win more business.

Why Our Brains Love Brand Storytelling

Recent scientific studies show that storytelling has a measurable impact on the brain, particularly the synthesis of oxytocin. Oxytocin is a hormone released by the pituitary gland, sometimes referred to as the “love hormone,” as it can be released by things like touch, music, and exercise, which produce feelings of well-being.

“Oxytocin is produced when we are trusted or shown a kindness, and it motivates cooperation with others,” says Paul J. Zak, founding director of the Center for Neuroeconomics Studies and a professor of economics, psychology, and management at Claremont Graduate University. “We found that character-driven stories do consistently cause oxytocin synthesis. Further, the amount released by the brain predicted how much people were willing to help others.”

Zak’s team has also gotten insight into what makes stories effective at spurring oxytocin production, finding that a story must first grab and hold the audience’s attention by creating tension. When the characters experience tension, the audience’s ability to empathize and get transported into the story increases. If you’ve ever felt like working out or taking a karate class after watching an action flick, this is why. This may be because our attention to the story at hand sharpens as more tension arises. Our senses heighten as we get swept more and more into the story, imagining ourselves in the hero’s place.

If you can present your consumers with a story that places them in the center of the narrative as the hero triumphing over daunting obstacles to achieve their goals, you can capture their attention and empathy. You’ll have the opportunity to show them (not tell them) how you can help them defeat their villains and change their lives for the better.

Brand Storytelling Structure

Another reason storytelling is so effective is that it helps our brains organize information in a way that’s easy to understand. Stories put everything in order to prevent the audience from getting confused and tuning us out.

Because effective storytelling has been studied and practiced for thousands of years, it can be distilled down into a definable and repeatable structure. This structure is highly effective at helping brands simplify their message and use their opportunity to communicate with the audience to its fullest potential.

In Building A StoryBrand, Donald Miller identifies seven essential parts to storytelling:

“A character who wants something encounters a problem before they can get it. At the peak of their despair, a guide steps into their lives, gives them a plan, and calls them to action. That action helps them avoid failure and ends in a success.”

Miller says that customers are most interested in how your brand will help them to survive and thrive. Once you understand their needs, desires, problems, fears, and goals, you can place them in the center of this storytelling structure as the hero conquering their foes with you by their side as a trusted expert and guide. Just remember — they are the hero, not your brand!

Using Brand Storytelling To Win Business

People want to see themselves as the heroes of their own stories, and helping them do that is a vital way to cut through the noise and differentiate your brand. By focusing on their goals rather than your own, you position your brand as a wise guide that can help them overcome their challenges and thrive.

Once you’ve identified your ideal customer/main character, you need to define the problems they need your help solving. Focus on internal problems, the kind that keep your audience up at night — the primary villain, the dragon they need to slay. In what concrete ways do these problems present themselves in daily life? How does it nag at them mentally throughout the day?

As their empathetic and authoritative guide, you should be able to articulate how your brand can help them vanquish their villain. That means you’ll need to present yourself as wise, showing your expertise through case studies and testimonials to demonstrate how you’ve helped others. You’ll also need to show empathy and that you thoroughly understand their challenges.

Now that they’ve got a trusted guide on their side, they need a plan of attack. That’s where calls to action come into play. Don’t be coy — tell your audience exactly what they should do to fight their villain and come out on top. Articulate how this action will help them to achieve success and avoid failure, transforming them from the striving hero to the ultimate champion.

Unleash Your Inner Yoda

Do you want to unleash your brand’s inner Yoda, guiding customers toward their Luke Skywalker moment? Learn more about storytelling in our free guide to narrative marketing, where you’ll find a full breakdown of each step from StoryBrand.

Download the eBook
About the Author

Content Specialist Kim Steinmetz helps brands and thought leaders discover and develop their unique voice and tone while establishing authority on a topic through compelling messaging and copywriting. An accomplished writer and marketer with over a decade of experience, Kim is well-versed in both B2C and B2B content. 

About &Marketing

&Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.

Are you facing challenges of your own in generating leads and meeting your business’ growth goals?

We’d love to learn more about your challenges and how a coordinated marketing approach might help take your organization to the next level.

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Commercial Due Diligence Services for Private Equity Investments

Private equity acquisition is a complex undertaking with countless moving parts. Your company’s funds, time, and reputation are all on the line, and as new products emerge and marketing capabilities expand thanks to advancing digital intelligence, it’s more important...
Read More

Is Fear of Negativity Holding Your Marketing Team Back?

Sometimes marketers obsess over maintaining a glass-half-full viewpoint in their content, believing it’s always better to show the customer positive benefits rather than “focusing on the negative.” While it’s true that you don’t want to stress out your audience, both...
Read More

5 Reasons Your Company Doesn’t Show Up on Google

Having a strong online presence has become a crucial part of growing any business. However, if your business isn't showing up in Google search results related to what you offer, it's time to do some troubleshooting. There are five common reasons why your business...
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How To Get Buy-In From Stakeholders for Your Content Marketing Strategy

How To Get Buy-In From Stakeholders for Your Content Marketing Strategy

by | Jan 3, 2023 | Business & Marketing Strategy, Fractional CMO, Insights, Marketing Planning & Execution, Storytelling & Branding

How To Get Buy-In From Stakeholders for Your Content Marketing Strategy

&Marketing, and marketing, outsourced marketing strategy

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Your content marketing strategy is vital to your organization’s overall success, so getting buy-in from stakeholders outside the marketing department is crucial to keep everyone aligned toward business goals. When everyone puts their heads together to provide input into the new plan, fresh perspectives and ideas are uncovered to make the strategy work better for each department.

We’ve spent years discovering the most effective approaches to get buy-in from stakeholders, so we combined our knowledge to create this guide. Keep reading to discover our 3-step process to winning your entire organization over to your brilliant new content marketing strategy.

Why Does Getting Buy-In From Stakeholders Matter?

There are many reasons why getting buy-in from stakeholders for your content marketing strategy is a step that should always be remembered. It may take hard work and patience, but it’s worth it — when everyone is aligned on a strategy:

  • Non-marketing employees feel more invested and engaged in the marketing department’s activities and are often more willing to contribute to efforts as subject matter experts.
  • It becomes easier for your business to develop its brand identity and present a strong, clear impression of it to the market.
  • The long-term success of the strategy improves with greater internal support.
  • Project planning becomes easier because everyone is aligned on priorities.

How To Get Buy-In From Stakeholders in 3 Steps

Marketing is constantly evolving, so you must be strategic about getting buy-in when you propose changes to your strategy. Leadership especially wants to be reassured that any changes are highly likely to deliver results, so you’ll need to come prepared with plenty of data — but that’s not all:

1. Determine who your stakeholders are. Focus on their concerns and priorities.

Map out how various departments interact with or may be impacted by your strategy. Examples may include outside sales, customer service, IT, and others. Start thinking about their responsibilities, needs, and possible objections. What will you need from them, and how can you ease the burden on them to provide that?

Depending on your organization’s size, it might be worthwhile to have a different session with each department. This can help you avoid bogging anyone down with extra information irrelevant to them, tailor your presentation more closely to your audience, and provide them with individual attention.

When it comes to getting leadership buy-in, ensure you understand what metrics leaders are most interested in improving and can demonstrate how your plan will help move the needle toward the company’s goals.

2. Lead with transparency: be clear about what you want.

Make sure everyone knows the purpose of each meeting beforehand, so stakeholders know what to expect. Don’t wait until the end of the session to finally get to the ask — tell stakeholders what you want from them at the beginning, then provide a clear explanation of why they should agree.

Set a baseline by explaining how things are currently done and where there’s room for improvement. This is an excellent opportunity to incorporate data showing where your current strategy could improve.

Pro tip: don’t just rattle off facts. Storytelling is an incredibly powerful tool — don’t just use it in your content marketing strategy. Use it to create an engaging and impactful presentation that pulls your stakeholders in just as you would a customer.

3. Prove your claims and call on them to act.

Once you’ve captured your audience’s attention and imagination, appeal to their logical side by providing data to give your proposal more legitimacy. Make sure it’s easy to understand and leads to a clear conclusion. Share examples of other organizations that have seen success with similar strategies. Most stakeholders don’t want to be the first to try a new tactic, but if they can see that others have succeeded, they’ll feel more comfortable giving it a try.

Clearly describe the benefits of your plan. A strong content marketing strategy makes customers feel more comfortable interacting with you because they’ve come to you. It also often costs significantly less than outbound marketing strategies while netting higher quality leads and improving visibility online. Make sure your audience also clearly understands any benefits specific to their department or goals, and make a clear and concise ask for exactly what you want them to do next to support your plan.

Overcoming Obstacles To Get Buy-In From Stakeholders

Sometimes there are factors beyond your control influencing stakeholder decisions. For example, if you’ve just joined the company, your peers and leadership might not have had enough time to get to know and trust your expertise. While it can be frustrating, it is understandable, and there are ways to help stakeholders warm up to your ideas even if they haven’t yet warmed up to you. For example, consulting with an outside expert, someone likely to be trusted and respected, can be valuable in helping to reinforce your claims.

If your plan requires marketing skills you don’t currently have and you aren’t ready to make a significant investment in headcount, you can outsource key roles. It’s common to do this for tactical roles like website design or content creation, but you can also hire part-time executive-level content marketing help in the form of a Fractional Content Marketing Officer, or fCMO. An fCMO can lead your team in both strategy and execution of your content marketing strategy without the high overhead of adding another full-time member to your C-suite.

How To Measure the Short-Term Success of Your Content Marketing

Content marketing is ultimately a long-term strategy, but stakeholders are often interested in hearing about short-term results whenever possible. At the outset of your plan, establish your baseline to measure against. Short-term goals to track include social media interactions (likes, shares, mentions, followers), backlinks, and leads and conversions. Search engine traffic will take longer to rise, but with a baseline, you’ll be able to see any quick bumps if they do happen.

Get Help Telling Your Story

Whether you need help creating an impactful story for stakeholders or customers, we’ve got a roadmap for you. To help you successfully lead your hero down the path to their own happily ever after, &Marketing has broken down Donald Miller’s StoryBrand roadmap into easily digestible bites. Download our free guide to narrative marketing for a simple breakdown of each step.

Download eBook
About the Author

Content Specialist Kim Steinmetz helps brands and thought leaders discover and develop their unique voice and tone while establishing authority on a topic through compelling messaging and copywriting. An accomplished writer and marketer with over a decade of experience, Kim is well-versed in both B2C and B2B content. 

About &Marketing

&Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.

Are you facing challenges of your own in generating leads and meeting your business’ growth goals?

We’d love to learn more about your challenges and how a coordinated marketing approach might help take your organization to the next level.

Services

Business & Marketing Strategy

Business Intelligence & Analytics

Storytelling & Branding

Marketing Planning & Execution

Fractional CMO Services

What is a Fractional CMO?

Fractional CMO Resources

About &

Our Team

&‘s Story

Privacy Policy

Privacy Policy

Insights

Commercial Due Diligence Services for Private Equity Investments

Private equity acquisition is a complex undertaking with countless moving parts. Your company’s funds, time, and reputation are all on the line, and as new products emerge and marketing capabilities expand thanks to advancing digital intelligence, it’s more important...
Read More

Is Fear of Negativity Holding Your Marketing Team Back?

Sometimes marketers obsess over maintaining a glass-half-full viewpoint in their content, believing it’s always better to show the customer positive benefits rather than “focusing on the negative.” While it’s true that you don’t want to stress out your audience, both...
Read More

5 Reasons Your Company Doesn’t Show Up on Google

Having a strong online presence has become a crucial part of growing any business. However, if your business isn't showing up in Google search results related to what you offer, it's time to do some troubleshooting. There are five common reasons why your business...
Read More
CMOs: What Kind of Conductor Are You – Jazz, Classical or Both?

CMOs: What Kind of Conductor Are You – Jazz, Classical or Both?

by | Jul 7, 2022 | Business & Marketing Strategy, Business Intelligence & Analytics, Fractional CMO, Insights, Marketing Planning & Execution, Storytelling & Branding

CMOs: What Kind of Conductor Are You – Jazz, Classical or Both?

&Marketing, and marketing, outsourced marketing strategy

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On

This post was originally published at https://www.demandrevenue.com/cmos-what-kind-of-conductor-are-you-jazz-classical-or-both/.

  • Precision requires process, logic and consistent orchestration like the mathematically consistent phrasing in classical music
  • Jazz requires expressing your creativity, using your gut, developing audacious breakthrough ideas, and taking risks
  • Today’s CMOs need to be holistic conductors, balancing creativity with precision

Hopefully, as a CMO, you like an eclectic mix. Today’s CMOs need to be holistic conductors, balancing creativity with precision. You need a good balance of both to be really successful in today’s complex market. Let’s listen:

Being innovative and building strong connections with customers and prospects is like jazz. Remember Louis Armstrong, Miles Davis or Benny Goodman? Jazz requires expressing your creativity, using your gut, developing audacious breakthrough ideas, and taking risks to connect with target audiences in a really memorable way. They won’t remember numbers as much as how you made them feel. You won’t get big ideas from spreadsheets, either. Creativity requires you to:

  • Make an emotional connection. Appeal to buyers’ and customers’ emotional side to make the strongest, most lasting connections that they will remember and tell people about.
  • Fail fast and often. There is no set formula for success. Frequent experimentation and failure are often the only way to learn the right path forward. Have the courage to take risks, experiment and learn. The most successful people in history were the biggest failures over and over again.
  • Think of breakthrough ideas. Recognize that industry breakthroughs always come eventually. Be ready to disrupt your own business model before new entrants or competitors do.
  • Bring your customers along. Discover new and better ways to help customers get their jobs done more easily, more conveniently or at a lower cost. They may not know how until you show them.

Precision requires process, logic and consistent orchestration like the mathematically consistent phrasing in classical music. Remember Vivaldi, Bach or Handel? Over the last several years, digital and social media have enhanced the measurability of marketing’s impacts and value to the enterprise. Effective data analytics and process management are critical to lead efficiency and continuous improvement in today’s marketing organizations. To enable precision, you must:

  • Leverage precise analytics. Observe and analyze buyer and customer behaviors to tee up the correct content and messages to the right personas at the right times.
  • Continuously improve processes with dashboards. Define how you track data, and look for and act on exceptions to move the business forward in a repeatable and structured way.
  • Leverage new technologies. Automate repetitive processes using technology and methods such as the Demand Waterfall® to optimize conversion rates and reduce process handoff times and costs.
  • Correlate cause and effect. Statistical techniques enable better automated lead qualification and improved understanding of why deals were won vs. lost.

So start making some beautiful jazz as well as classical music. Blending strong creativity with precision makes you a better marketer. It’s impossible to quantify creativity except in the rear-view mirror. And you can’t run an efficient marketing operation without the precision that data analytics and technology afford. Balancing both makes marketing far more interesting, effective and fun.

Set Up a 15 Minute Call with Alan to Review Your CMO Needs
About the Author

Alan Gonsenhauser, Founder and Principal of Demand Revenue, is an experienced CMO and general manager, and more recently as a CMO Executive Advisor and Analyst at Forrester and SiriusDecisions. He now offers Interim / Fractional Marketing Leadership, CMO Executive Advisory and Coaching, and Keynote Presentations, bolstered with comprehensive Strategic Marketing Services.

Visit Alan’s LinkedIn

About &Marketing

&Marketing provides the robust outsourced marketing department growing companies need without the high overhead costs of big agencies or full-time employees. Our variable model empowers businesses to reach their growth goals through access to the guidance and expertise of senior level strategists and a flexible execution team.

Are you facing challenges of your own in generating leads and meeting your business’ growth goals?

We’d love to learn more about your challenges and how a coordinated marketing approach might help take your organization to the next level.

How To Measure Content Marketing ROI (Return On Investment)

How To Measure Content Marketing ROI (Return On Investment)

by | Jun 9, 2022 | Business & Marketing Strategy, Business Intelligence & Analytics, Insights, Marketing Planning & Execution, Storytelling & Branding

How To Measure Content Marketing ROI (Return On Investment)

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The targeting, planning, and tracking of content marketing campaigns continue to get more sophisticated as new capabilities and tools are tailored to the task. However, CMI recently reported that 44% of marketers still find some aspects of improving content measurement challenging, though it remains a top priority.

Measuring their return on investment, or content marketing ROI, is increasingly essential because customers engage with content at every stage of their journey. Forrester found that a customer engages with 11.4 pieces of content before purchasing. Furthermore, the customer journey is rarely linear, especially in the B2B sales funnel. Instead, potential customers may dip in and out of the funnel several times, sampling different pieces of your content before converting.

Measuring content marketing ROI is not an exact science, but tried-and-true best practices are emerging. Read on to learn more about content marketing ROI, measuring it, and which metrics are truly vital.

What is Content Marketing ROI?

Simply put, content marketing ROI is a percentage showing how much you earned from content marketing compared to what you spent producing and distributing it. It is one of the most critical measures of the success of a content marketing program because it is directly tied to revenue.

However, content marketing ROI has been challenging for marketers to quantify because, as mentioned above, the customer journey is often anything but straightforward. Content marketing is, after all, a long-term strategy, which makes attribution more difficult to determine. Plus, content alone won’t necessarily generate ROI – it is most valuable when created to bring value to additional channels like email, ads, etc.

What Are The 4 Steps Involved In Measuring Content Marketing ROI?

Marketers have developed a formula to determine the content marketing ROI percentage. Still, many more metrics are not tied directly to revenue but help provide a holistic view of the success of your content marketing campaigns. First, we’ll explain the formula.

Step One

Add up how much you’ve spent producing content. This could include images, video, audio, the content creator’s salary, work done by other departments, etc.

Step Two

To that number, add what it costs you to distribute the content. This could include tools/software used for creation and distribution or paid promotions. If you are using those tools for multiple purposes, use a percentage of that cost – for example, are you using email solely to distribute content? Perhaps not, so focus on only the portion of the cost attributed to content. This sum represents the total cost of producing all of your content, or your investment.

Step Three

Add up all of the sales or leads (you must establish a lead value) that resulted directly from a piece of content. This is your return.

Step Four

To that number, add what it costs you to distribute the content. This could include tools/software used for creation and distribution or paid promotions. If you are using those tools for multiple purposes, use a percentage of that cost – for example, are you using email solely to distribute content? Perhaps not, so focus on only the portion of the cost attributed to content. This sum represents the total cost of producing all of your content, or your investment.

Which Content Marketing Metrics Really Matter?

The first thing you should know is that it is counterproductive to try to track all possible metrics. Instead, you should hone in on specific metrics depending on what you want to accomplish with your content. When you begin a new content marketing project or campaign, focus on metrics that support your key goals and provide you with information you can use to optimize the project or campaign. Don’t wait until the piece is released to decide which metrics are important. Plan ahead and limit yourself to the most meaningful and actionable information.

Here are some key metrics to consider linked to some common goals:

To Measure Revenue Potential: Lead Quality and Sales

There are many ways to measure lead quality, which are likely to vary from business to business. For example, if you have Google Analytics set up on your website, you can see whether visitors spend time on important pages. Set up a goal for those pages and view the results at Conversions > Goals > Funnel Visualization. Another way to evaluate lead quality is by looking at traffic, bounce rates, and conversions together. For example, high traffic with high bounce rates and low conversions can indicate low lead quality.

In B2C, if you want to know how many leads turned into sales and the value of those sales, you’ll need eCommerce enabled in Google Analytics. At Behavior > Site Content > All Pages, you’ll find a Page View column that can show which pages are driving the most revenue. However, this only works for straightforward, one-session conversions, which aren’t that common for most websites. You can learn more by visiting Conversions > Multi-Channel Funnels > Assisted Conversions, which measures conversions that each channel assisted with, and sorting by landing page. For B2B, focus on form submissions.

To Evaluate SEO Performance: SEO Success and Exposure/Authority

Search Engine Optimization (SEO) increases website traffic by helping your website rank higher in search engine results, where potential customers are more likely to click. Measuring the success of your SEO often involves looking at whether you rank well for your target keywords (this is vital), have high-authority inbound links, and are popping up in relevant answer boxes. You can check this by using a private/incognito window to search for key terms and seeing how well you rank. Tools like Moz’s Link Explorer that can give you specific measurements around domain and page authority, and show you your inbound links. Compare your SEO success with your social engagement to see how well your content uses keywords and whether it is finding the right audience.

The more exposure you get and the more you establish your brand’s authority both online and offline, the more people will want to share and link to your content. The Moz tool offers good insight into authority by domain and page, but you should also be sure to track offline metrics like instances of media coverage and participation in industry events. While authority is valuable, it can be challenging to track, so you may want to get creative with the types of metrics you measure here. For example, don’t forget to pay attention to what people have to say about your brand on social media.

You can also see what terms your blogs get impressions and clicks for in Search Console or Analytics. Additionally, there are tools (like Search Analytics for Sheets) that will continuously and automatically export out all queries your pages get impressions for so you can monitor average position and help determine which terms to target for new content.

To Track Engagement: Web Traffic, Onsite Engagement, and Social Media ROI

Without traffic, you can’t generate revenue on your site, so web traffic is an important metric to combine with others for a well-rounded view. You can use Google Analytics to see how much traffic a content piece is driving by visiting Behavior > Site Content > Landing Pages. This view shows you which pages visitors first land on, sorted by highest-traffic pages first. Next, look at where your traffic is coming from (referral traffic) by clicking on a specific page and clicking Secondary Dimension > Acquisition > Source/Medium.

Once people arrive at your website, you’ll want to understand how much time they spend on which pages. Low bounce rates are a good sign that your content is well-received, but there are also other important onsite engagement metrics. In Google Analytics, go to Audience > Overview to see pages per session, bounce rate, and average session duration. To see how fast visitors are bouncing off a specific piece of content, go to Behavior > Site Content > All Pages and find its URL.

Social media shares are important to track because social proof and peer recommendations have become so critical in the purchase process. You can see how much traffic you get from specific platforms at Acquisition > Social > Network Referrals, and the Social > Overview page can show you how much revenue that traffic has earned you.

Try &Marketing’s Content Marketing ROI Calculator

Using &Marketing’s Content Marketing ROI Calculator is your first step toward creating a thoughtful content strategy that aligns with your business goals. This calculator will help you determine which keywords and topics will generate the most organic traffic and conversions on your website (depending on where your content ranks for those keywords on Google). It also calculates how much it would cost to get those same results via paid advertising. This comparison will help you determine whether it’d be more cost-effective to invest in paid advertising or organic content, or a combination of the two!

Try the Calculator

Looking for more guidance around understanding and optimizing your content marketing ROI? Contact us today!

About the Authors

Marketing Director Paul Ferguson helps clients develop fully integrated marketing solutions that make impressions and drive results. Whether it be design-oriented campaigns or digital market execution, Paul skillfully creates strategies to effectively reach client’s desired audiences.

Content Specialist Kim Steinmetz helps brands and thought leaders discover and develop their unique voice and tone while establishing authority on a topic through compelling messaging and copywriting. An accomplished writer and marketer with over a decade of experience, Kim is well-versed in both B2C and B2B content.

About &Marketing

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