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    Smart Marketing Execution: How to Accelerate Profitability, Performance, and Productivity
    Smart Marketing Execution: How to Accelerate Profitability, Performance, and Productivity
    Smart Marketing Execution: How to Accelerate Profitability, Performance, and Productivity
    Ebook285 pages1 hour

    Smart Marketing Execution: How to Accelerate Profitability, Performance, and Productivity

    By Clare F. Price

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    About this ebook

    How do you turn a $1 million company into a $10 million one? Or into a $100 million or even a $1 billion company? The answer: Smart execution. Smart execution enables a corporation to achieve its vision, plans, and goals. Smart Execution is the secret sauce of Octain Growth System, a marketing operating system that reduces costs and improves business performance, while laying a foundation for sustainable business operations. This book is your road map to implementing the Octain Growth System, so you can achieve clarity, confidence and control of all your marketing functions.
    LanguageEnglish
    PublisherBookBaby
    Release dateOct 14, 2022
    ISBN9781957651187
    Smart Marketing Execution: How to Accelerate Profitability, Performance, and Productivity

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      Book preview

      Smart Marketing Execution - Clare F. Price

      Preface

      How do you turn a one-million-dollar company into a ten million dollar one? Smart execution. A ten-million-dollar company into a hundred-million-dollar company? Smart execution. A hundred-million-dollar company into a billion-dollar company? Smart execution. Smart execution enables a corporation to achieve its vision, plans, and goals. Smart execution separates the economic winners from the losers.

      Here’s a cautionary tale.

      Dennis Bradley, director of network systems for a Silicon Valley tech giant, was a firefighter. He was proud of it. Proud of the way his team always came through when they had flames licking at their heels. Trouble was most of Bradley’s fires were of his own making.

      The big event each year for Bradley’s group was Dreamforce, the major Salesforce convention held annually in San Francisco. Every year, Bradley, in full firefighter mode, geared up for the event about eight weeks out. He got his team of programmers, designers, marketers, salespersons, and booth builders together; barked out their marching orders; and got everyone scrambling at a fever pitch. Nights, weekends, all-nighters, and missed vacations and family time. Thousands of dollars in rush charges for overtime. It didn’t matter! They had to make it happen. And they did. No one was more pleased than Bradley. At the post-show meeting, he chanted his familiar refrain: We were in the weeds, people, but we pulled it out and got it done. Great job everyone.

      In his enthusiasm for a job well done, he didn’t always notice the brain drain as top talent left his team every year for another role in the organization or with a competitor. Nor did he notice the fact that his cost overruns meant his group could not attend one or more of the smaller shows during the rest of the year.

      By contrast, Akim Camaron, director of software services, used his post-Dreamforce meeting to debrief his team and start planning for the next year. They used takeaways from the last show to lay the foundation for the future. They developed a road map with monthly project milestones eleven months in advance. They finalized the structure for the event, booth details, and theme. Camaron worked months in advance with product development to showcase new products. His team had time to assess the competition to better position the company and its products to attendees. They had flexibility to make changes. His team collaborated, worked smoothly, and had the energy and enthusiasm during the show to have fun with each other and trade show prospects. His team got the job done using smart marketing execution.

      Here are two questions: Which team would you rather lead? Which team would you rather be on?

      This book was written as antidote to the number one business killer of all time: poor execution of business and marketing strategy. The solution is to replace trial-and-error, pray and spray marketing with an integrated marketing operating system that delivers profitability, productivity, and operating efficiency.

      That system, the Octain Growth System (OGS), integrates strategy, execution, and automation to provide business builders and marketers with a proven pathway to profitability. To ensure your success, OGS provides you with an experienced Growth Architect. Our GAs are certified OGS consultants with the tools, training, and talent to support vision and business growth goals.

      Chapter 1

      Exploding The Growth Myth

      Perhaps these business clichés sound familiar:

      Let’s throw it against the wall and see if it sticks.

      Let’s run it up the flagpole and see who salutes.

      We like to fly by the seat of our pants.

      Assess and pivot. It’s the only way to go.

      They all reflect the use of trial-and-error decision-making, a practice so common, so accepted, and so widely used that business builders naturally gravitate to it. This approach is so ingrained in our corporate DNA that most of us wouldn’t know how to run our businesses without it.

      I know I never did. Until I learned that this pervasive business practice is one of the costliest and most time-consuming business crushers of all time.

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      It was January 2000. The world was poised on the bright beginning of a new year and a new decade. It was the start of the new millennium. I was working as the VP of marketing at a software start-up in Mountain View, California, building a new analytics platform for measuring customer experience. We had an innovative product solution, a dedicated technical team, and a brash, young, visionary CEO with a lot to prove to his father, one of the Silicon Valley’s most notable serial entrepreneurs.

      Despite everything we had going for us, we started the new year in a panic. We were almost out of cash. The consumer analytics market was so new that our engineers had to innovate and create their own road map. Of course, they ran into glitch after glitch on their way to success, rapidly burning through our seed funding. If we didn’t get a new round of funding soon, we would have to shut the doors.

      We had a good track record at our stage and an easy story to tell: You can’t change what you can’t measure. As the new century dawned, customers’ expectations were changing faster than ever. We had the solution.

      The CEO and I met with just about every investor in town and his reaction to those meetings shone the light of truth on the true cost of trial-and-error decision-making. Every time we met with a new investor, they had ideas about what we could do with the product and our marketing story. They weren’t investing, just giving feedback.

      However, that didn’t matter to my CEO. He’d go rushing back to the technical team and demand all the changes the investor had suggested, burning up more time and capital, sowing more chaos with every new meeting. We never got that next round of funding. Before the sun set on the first year of the new millennium, we were out of business. In addition, I learned a very valuable lesson.

      Just about everything we believe about the value of trial-and-error decision-making, or assess and pivot, as it is now commonly called, is a myth.

      When you throw it up against the wall and see if it sticks, you mostly end up with dirty walls. It’s easy to assess and pivot your way into a financial quagmire. Sustainable growth it’s not.

      Five Big Growth Killers

      Trial-and-error decision-making is one of the biggest growth myths out there. But it’s not the only one. Do any of these sound familiar?

      Hamster-Wheel Marketing. Hamster-wheel marketing feels exactly the way it sounds. Your marketing team is constantly running, running, running, and never seeing much of a change in new customers, revenues, and profits. Hamster-wheel marketing wastes energy. The trap of hamster-wheel marketing is that it gets you thinking that sheer energy will move your business forward.

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      Lottery Marketing. When you’re playing lottery marketing, you keep putting in the coins and pulling the lever on every new marketing idea. And it works just like in the casino, providing you with a win often enough to keep you wedded to the lever. Lottery marketing wastes money.

      Shiny Ball Syndrome Marketing. This is just a brighter name for trial-and-error decision-making. It means constantly changing goals to chase every shiny new ball of potential. It wastes time because you are always looking for the next big thing or buying a quick fix on impulse.

      Fire, Ready, Aim Marketing. You take a shot at a program or project and see if it worked; if it does not, you aim in a different direction. This approach wastes the tools you need to market effectively. If one shotgun doesn’t work, you try another. Then another and another and another.

      Make-It-Happen Marketing. You know you are engaged in make-it-happen marketing when you bark those words at your team and they know that regardless of the time, resource constraints, and personal sacrifice required, they must repeatedly pull a rabbit out of a hat and deliver on the impossible. Until they don’t. They quit instead. Make-it-happen marketing wastes talent, the people you count on to help you grow your business.

      Figure 1: Five Growth Killers

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      No matter which of these growth myths you buy into, the end result is the same: you are running your business in crisis management mode.

      Engaging in crisis management is painful and costly on so many levels:

      The customer cost. When your organization is struggling, it creates customer churn. Customer lifetime value can be reduced by 50 percent or more as customer service declines.

      The profitability cost. Crisis management almost always results in budget-busting project cost overruns, reduced margins, revenue, and profits.

      The people cost. Top talent leaves when they are overworked, frustrated, and underappreciated working in a chaotic environment. A study by the National Association of Colleges and Employers notes that hiring an employee in a company with up to five hundred people costs an average of $7,645.¹

      But it’s not just hard dollars. When talented people leave, they take knowledge, experience, and customer goodwill out the door with them.

      Crisis Management Is Fun—Until It Isn’t

      I’ll step up and admit it. I know the penalties of crisis management firsthand. I was my own worst enemy because I was addicted to crisis management. Yep, I said it. It’s out there. I didn’t run from crisis management. I reveled in it. It was the drumbeat of my life, and not just my working life.

      Crisis management was how I ran my projects, my teams, even my friendships. Never get it done until the last minute. Make decisions in the heat of the moment, when the flames were licking my toes, because I was the boss, and I could trust my gut. It felt good to pull things out of the fire and get it done. It wasn’t until later that I learned crisis management has a cost. A very deep and personal one.

      One day, I was in typical crisis-management firefighting mode, rushing to meet an urgent day-of-delivery deadline that, by the way, I’d known about for three months. That day, my business partner of three years, my creative genius who helped me launch the company and build the brand, knocked on my door and said, We need to talk.

      Hard swallow. Okay, I said. She explained to me that the company’s constant churn had taken a physical toll. She wasn’t just burned out; she was physically sick and needed to leave because her health was at risk.

      To say that was the biggest wake-up call of my life is an understatement. She took a six-month leave of absence and I set about changing the way I ran the company, starting with having heart-to-heart talks with my other employees and vendors. What I learned opened my eyes to a new way of operating my company. I discovered a different way of making decisions and implementing them that eventually led to the development of the Octain Growth System (OGS).

      What About You?

      Think about it for a minute. What’s your process for achieving your growth vision, goals, and plans? If you’re like most of my clients, I’ll bet you’ve struggled through your share of crisis-management moments, crossed-fingers guesswork, and assess and pivot top spinning—especially during the COVID-19 pandemic.

      And yes, I hear you. How do you plan for the unanticipated like a worldwide pandemic? I believe the answer is not with a traditional plan.

      Those CEOs who best weathered the COVID-19 storm had a framework and structures, a

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