031 | What 2020 Has Taught Us About Marketing and Technology | Studio CMO - a podcast by Golden Spiral, Shaping Technology Marketing

What Are You Looking For?

2020 has been a year of transformation. Our way of living and working, how we lead our teams—and for many of us, how we grow our businesses—has fundamentally changed.

Did you feel the great pause in March? There were a few minutes or days where many of us held our breath, paused our marketing efforts, and waited. We listened, watched, and worked to understand how the new landscape was going to take shape.

Technology exists for transformational moments like 2020. Businesses of all kinds around the world were forced to increase efficiency, improve engagement, and keep funnel activity moving. We saw a massive surge in demand for automation, in all sorts of forms, to help handle the changes in customer behavior everywhere from banking transactions to healthcare provider engagement. We took a quantum leap forward in our ability to engage remotely.

The nature of technology is moving from an old way of doing things to a new, more efficient—and more automated—way of doing things. This is a time to harness that energy and provide a compelling vision of the horizon for your team and for your customers. It’s time to take some risks, lean into the opportunities, and let some creative wind fill your sails as we move into the new year.

Looking forward,

John

P.S. Marketing leadership can be a lonely place. 2020 has certainly been a lonely year for many I know. Do you need an objective party to bounce ideas off of? Do you need someone outside your organization to help you get unstuck? We would love to get to know you. And we’d love, at no obligation, to have a conversation with you to explore, brainstorm, and/or bounce some ideas around. If you’d like to have a conversation, please accept my invitation. I look forward to talking with you soon.

The Episode in 60 Seconds

2020 has been the year that will not end. 2020 has also been a schoolmaster pushing business leaders to new lessons, risk, and creative solutions. In this episode, Golden Spiral CEO and Chief Storyteller, John Farkas, reflects on six major lessons 2020 has taught B2B Tech companies. He explores:

1. The Nature of Technology
2. The Weight of Marketing
3. Creativity and Risk
4. Virtual Events
5. Customer Experience
6. Tracking and Reporting
7. Critical Alignment

“When pressure is applied, businesses will look for ways to do things better.” — John Farkas

Our Guest

John Farkas has always worked to bring creative projects together. After working nearly two decades as a creative director for two large organizations, he turned his focus toward leading Golden Spiral, a B2B tech marketing consultancy and agency that harnesses the forces of media, technology, and community to create compelling brand narratives that empower clients to soar in the post-digital, experience-centric world.

John reflects: “Great stories cut through our defenses and imprint us at our core. Tell someone a great story — at the least it will leave an impression — but it could change the course of their lives.”

John, a 1988 University of Wisconsin graduate, enjoys creative writing, exploring the outdoors, building and remodeling houses, and riding his bicycle.

Seven Lessons Learned in 2020

1. The Nature of Technology Exists for Moments like 2020

The transformative solution that produces greater efficiency, when things get pressurized, people want the solution more.

2. We Feel the Weight of Marketing in Moments like 2020

We can’t do what we used to do. Marketing is absorbing the weight of all of the old stuff

3. Creativity and Risk are Necessary in Moments like 2020

Listen to our episode with Andrew Hoerner

4. Virtual Events Fueled Marketing in 2020

Virtual events have required extraordinary creativity and hard work from those who’ve pulled them off.

Don’t just create not just a better webinar, but a virtual event where you’re engaging on a number of different fronts, bringing a number of different point of views together to really create a contagious and interesting experience for people who want to engage with you and your solution.

SAP events link

Issues to Consider When Creating a Virtual Event

Speakers - how do they present on camera for a virtual audience?

Topics - how do they fit in with a more segment-able, micro-casting opportunity?

Production - what do you want the event to look like on screen?

Connective tissue - what ties the experience together—digital hosts? [Ursula goes into great detail about finding hosts to tie the event together at 16:30]

Platform - what software can manage the registrations, video streaming, recording storage, visitor interaction, VIP connectivity, and social engagement?

Interactivity - how will you facilitate connection—breakout rooms, chatbots, information exchange?

Budget - if transitioning from live to virtual, reallocate the funds along the lines needed to produce a great event.

5. Customer Experience Took Center Stage in 2020

In our virtual world, we want to experience the brands we care about. How do we help people who are new to our brand to understand it and experience it? How do we take prospective and existing customers deeper into your world? How do we treat existing customers, move them to talk about us and engage the market on our behalf? Through our Customer Experience (CX) efforts.

Mary Drumond link

6. Tracking and Reporting KPIs Became More Essential in 2020

Chris Turner quote

Do you have a clear picture of what all of your marketing activities are yielding? What framework are you using to report to the board or your C-Suite?

Mark Donnigan link

Six KPIs Every CMO Should Report to the C-Suite

1. Net New Revenue from Marketing-Generated Sources
2. Percentage of Contribution from Marketing to Overall Revenue
3. Qualified Pipeline Generated Leads (MQLs)
4. Length of the Sales Cycle vs. Win Rate
5. Sales-Qualified Leads
6. Customer Acquisition Cost (CAC)

7. We Can’t Move from 2020 without Alignment Among all Departments

It is critical for sales, marketing, product development, customer success, and other departments to all be aligned and moving forward together. It is possible.

Nicholas Holland link

Further episodes of Healthcare Market Matrix

Further podcasts by Golden Spiral, Shaping Technology Marketing

Website of Golden Spiral, Shaping Technology Marketing