Episode 30 - Amy Franko on Turning Sales Strategy Into Profit, Women in Sales, Board Governance over Sales and more Summary In this conversation, Ed Marsh interviews Amy Franko, a sales strategist and author, about sales strategy and the role of sales in organizations. They discuss topics such as leadership, accountability, sales training, and the importance of sales in corporate strategy. Amy emphasizes the need for sales talent on boards and the importance of continuous recruiting. She also shares insights on: challenges and opportunities in selling technology and industrial productssales strategy and its impact on business growththe importance of board governanceneed for a board skills matrix and continuous recruiting to ensure the board has the right talent. Amy also shares her approach to building a strong board, including setting a vision, investing time and resources strategically, and introducing more strategic talent. She highlights the value of including junior people on the board as a talent incubator and implementing a board buddy system for onboarding new members. Amy also touches on her support for women in business and sales, the importance of sales and marketing integration, and the role of sales ops and sales enablement in optimizing sales teams. Takeaways Sales strategy is a critical component of corporate strategy and involves defining growth markets, target industries, and ideal clients.Boards should have members with contemporary sales insights to ask probing questions and provide oversight on sales strategy and execution.Continuous recruiting is important to find and nurture top sales talent, and companies should have efficient recruiting processes in place.Selling technology and industrial products have their own unique challenges, such as talent acquisition, complex sales, and balancing transactional and custom sales.Sales talent is crucial for long-term success, and companies should invest in talent development and create structures to support sales professionals.Understanding the lifetime value of a customer is essential for effective sales strategy and decision-making.Sales leaders should be involved in board-level discussions to provide insights on market opportunities, risks, and the impact of sales on business growth. Implement a board skills matrix and continuous recruiting to ensure the board has the right talentSet a vision for the board and invest time and resources strategicallyInclude junior people on the board as a talent incubatorImplement a board buddy system for onboarding new membersSupport women in business and salesIntegrate sales and marketing strategiesConsider the role of sales ops and sales enablement in optimizing sales teams Takeaway Quote from Amy Franko "Sales strategy contains the categories for growth, target industries, and clients." Check out Amy's website LinkedIn: Amy Franko and Ed Marsh Twitter: Amy Franko and Ed Marsh Instagram: Amy Franko and Ed Marsh YouTube: @AmyFranko and @EdMarsh Show Transcript  Chapters 00:00 Introduction and Background 03:21 The Role of Sales Strategy in Corporate Growth 05:50 The Importance of Sales Talent on Boards 19:42 Continuous Recruiting for Top Sales Talent 23:06 Challenges and Opportunities in Selling Technology 31:23 Navigating Complex Sales in Industrial Markets 39:43 Discovering the Board Governance Function 42:59 Building a Strong Board 48:27 Supporting Women in Business and Sales 51:25 Balancing Work and Wellness 55:30 Integrating Sales and Marketing Strategies 59:07 The Role of Sales Ops 01:04:47 Exploring the BDR Model 01:08:13 Understanding Financials in Sales 01:10:18 The Future of Sales Optimization   Wondering how board governance, sales strategy, sales training and other pieces all fit together in an integrated and engineered system for revenue growth? Check out this free downloadable diagnostic to identify opportunities using the Overall Revenue Effectiveness™ Framework.   #SalesStrategy #StrategicSales #StrategicSelling #SalesTraining #SalesManagement #SalesCoaching #SalesGrowth #WomenInSales #SalesOnBoards #independentdirectors #boardstrategy #boardofdirectors #boarddiversity #GirlScouts #Governance #BoardGovernance #boardoversight

Episode 29 - Industrial Marketing Strategy Texas Style! ARC Specialties Dann Allford and Johnny Tyler discuss how to STOP Wasting Time on Industrial Marketing Strategies That Fail Summary Just Get it Done! TEXAS Sized industrial marketing built on engaging video content on YouTube and LinkedIn. Dan & Johnny emphasize the importance of authenticity and passion in their videos, and they believe that reaching the right audience is more important than the number of views. The duo also discuss: the value of experimentation and the willingness to make mistakes in their content creationblending technical information and human interest stories with opinionthe power of partnerships and giving credit where it's duevalue of LinkedIn and video content to build awareness and trust with their audiencethe power of informative and engaging videos that showcase their expertise in industrial automationhow knowledge sharing attracts both vendors and end users, creating a strong network of potential customers. Dan discusses how their sales team is persistent and patient, willing to invest time in potential opportunities even if they are not immediately qualified. Johnny Tyler, translates Dan's ideas with editing and producing videos, ensuring they are cohesive and visually appealing. The pair find that building awareness and trust is better than direct lead generation. Dan speaks at industry events to establish thought leadership. Both agree on the importance of consistency in content creation and encourage companies to just start creating content and not wait for a perfect process. Takeaways Creating engaging video content on YouTube and LinkedIn is an effective way to reach and connect with potential customers.Authenticity and passion are key in creating successful video content.Experimentation and the willingness to make mistakes are important in content creation.Covering a wide range of topics, including technical information, human interest stories, and opinions, can help build thought leadership and engage a diverse audience.Partnerships, LinkedIn and video content help build awareness and trust with their audienceThey focus on creating informative and engaging videos that showcase their expertise in industrial automationThey have a strong partnership with their vendors, who help spread their message to the end usersThey emphasize the importance of perseverance and intuition in salesThey have a strong presence at trade shows and speak at industry events to establish thought leadershipThey believe in giving back to the industry and are open to sharing their knowledge and expertise Takeaway Quote from Dan Allford "Arc thrives on problems and invites companies to bring their problems to challenge them." Takeaway Quote from Johnny Tyler "Start making digital content. We are thought leaders in this industry." Check out ARC Specialties' website LinkedIn: Dan Allford , Johnny Tyler, and Ed Marsh Twitter: ARC Specialties and Ed Marsh Instagram: ARC Specialties and Ed Marsh YouTube: @ARCSpecialties and @EdMarsh Show Transcript  Chapters 00:00 Introduction to Arc Specialties and their Approach to Marketing 03:03 Engaging Industrial Marketing: The Power of Video Content 06:32 Authenticity and Passion: Keys to Successful Video Marketing 09:32 Experimentation and Mistakes: The Path to Effective Content Creation 18:32 Building Relationships and Expanding Reach through Partnerships 38:58 Building Awareness and Trust with LinkedIn and Video Content 40:06 Perseverance and Intuition in Sales 42:19 The Power of Partnerships in Spreading the Message 46:20 Recognizing Longevity and Employee Appreciation 48:34 The Impact of Trade Shows and Booth Design 51:31 The Time Commitment for Video Production 52:46 The Benefits of Speaking at Events 54:06 The Importance of Consistency in Content Creation 55:28 Giving Back to the Industry and Sharing Knowledge   Wondering how industrial marketing strategy, tactics and sales fit together? Check out my Overall Revenue Effectiveness Framework - free diagnostic download   #IndustrialMarketingStrategy #IndustrialMarketing #ManufacturingMarketing #MarketingForManufacturers #TradeShowSales #TradeShowMarketing #VideoMarketing #YouTubeMarketing #Welding #DanAllford #Robots #Cobots #authenticity #InboundMarketing #DemandGeneration #LeadGeneration

Episode 28 - Vaughn Mordecai on Building Powerful Indirect Sales Channel, Navigating Partner Ecosystems, and the Potential of PRM Software Summary In this episode, Ed Marsh and Vaughn Mordecai discuss the evolution of channel partnerships in the industrial space. They explore the concept of an ecosystem and how businesses are moving towards many-to-many relationships. They also touch on the differences between tech and industrial spaces, the challenges of channel conflict, and the importance of aligning the interests of vendors, channel partners, and customers. They discuss: the potential for channel partners in the industrial space to foster an ecosystem and the role of marketplaces in streamlining the buying processthe need for a strong business propositionthe importance of identifying an ideal partner profileimportance of identifying the characteristics of successful partners and using that information to create an ideal partner profile (IPP) Mordecai explains how AI can be used to analyze partner data and uncover the core characteristics that lead to success. Vaughn also provides an overview of partner relationship management (PRM) software and its key modules, such as onboarding, training, content management, and partner marketing automation. He emphasizes the need for continuous engagement with partners and the role of AI in driving the future of partnerships. Takeaways The concept of an ecosystem is emerging in the industrial space, with businesses moving towards many-to-many relationships.Channel conflict can arise within companies and between channel partners, but it can be managed through strategies like deal registration.In the industrial space, there is a need to align the interests of vendors, channel partners, and customers to create a successful channel partnership.Marketplaces can play a significant role in streamlining the buying process and enabling partners to offer best-in-class solutions.Having a strong business proposition and identifying an ideal partner profile are crucial for building successful channel partnerships. Identify the characteristics of successful partners to create an ideal partner profile (IPP)Use AI to analyze partner data and uncover the core characteristics that lead to successPartner relationship management (PRM) software includes modules for onboarding, training, content management, and partner marketing automationContinuous engagement with partners is crucial for success Takeaway Quotes from Vaughn Mordecai "Businesses are moving towards many-to-many relationships that look like an actual ecosystem.""The consumer is in charge of what they're actually looking for. The partner becomes the one that has to deal with all of this stuff.""PRM software includes onboarding, training, content management, and partner marketing automation" Check out Vaughn's website LinkedIn: Vaughn Mordecai and Ed Marsh Twitter: Vaughn Mordecai and Ed Marsh Instagram: Vaughn Mordecai and Ed Marsh YouTube: @Mindmatrixnet and @EdMarsh Show Transcript  Chapters 00:00 Introduction and Overview 02:31 The Emergence of Ecosystems in the Industrial Space 04:38 The Shift in Power and the Role of Partners 19:41 The Importance of Supporting Partners and Services 25:46 The Role of Marketplaces in the Buying Process 30:56 Aligning Interests and Overcoming Channel Conflict 39:53 Creating Successful Channel Partnerships 42:32 The Role of AI in Partner Analysis 48:02 The Importance of Continuous Engagement with Partners 58:13 The Potential of Using a CDP for Partner and Customer Data 01:06:12 The Impact of AI on Partnerships   Learn more about building an industrial sales and capital equipment channel ecosystem.   #IndustrialSalesChannel #IndirectSalesChannel #PartnerEcosystem #PRM #ChannelSales #SalesChannel #PartnerRelationshipManagement #PRMSoftware #Mindmatrix #IPP #IdealPartner #IdealPartnerProfile #IndustrialSales #IndustrialSalesChannel

Alyssa Gelbard on the Power of Personal Branding, Executive Presence and LinkedIn - Industrial Growth Institute Podcast Episode # 27 with Ed Marsh Summary Alyssa Gelbard, founder and CEO of Point Road Group, discusses the importance of personal branding and executive presence in driving credibility and trust. Gelbard highlights the need for companies to focus on employee branding and ensure that all employees, from interns to CEOs, have a strong personal brand. She shares the results of proprietary research conducted by her firm, which found that LinkedIn profiles have a significant impact on business functions such as marketing, sales, and recruiting. She emphasizes: need for consistency in personal brandingimportance of staying current with platform changesvalue of attending in-person events Ed and Alyssa also discuss boards of directors including: the significance of personal branding in the board directorship spaceneed for board members to have a professional presence on LinkedInimportance of telling your story and communicating your value as a board memberhow a strong presence on LinkedIn can help attract and retain talent, enhance company culture, and differentiate a business in a competitive marketbuilding trust and credibility is crucial in executive branding, and video content can foster that trust more effectively than written content alone. Takeaways Personal branding is essential for individuals to establish credibility and trust in the business world.Executive presence encompasses various aspects, including communication skills, appearance, and behavior in meetings and networking events.Employee branding is crucial for companies to create a positive perception of their brand and attract top talent.LinkedIn profiles have a significant impact on business functions such as marketing, sales, and recruiting.Consistency in personal branding is key to creating a recognizable and trustworthy brand.Board members should have a professional presence on LinkedIn and communicate their board affiliations to enhance their personal and company brands.Telling your story and communicating your value as a board member is important for attracting board opportunities.Boards should understand the value of LinkedIn and consider the benefits of board members being active on the platform. LinkedIn is a powerful tool for executives and businesses to build their brand and engage with their network.A strong LinkedIn presence can attract and retain talent, enhance company culture, and differentiate a business in a competitive market.Video content, such as podcasts and YouTube videos, allows for passive consumption of information and builds trust and credibility. Takeaway Quotes from Alyssa Gelbard "Personal branding is not just something online. It's who you are when you are sitting in a meeting with your team.""88% of people said they were more likely to trust the company and their marketing messaging from a company when they had an executive who had a detailed LinkedIn profile.""LinkedIn is where people look before any kind of meeting. So as an executive team, it's your responsibility to represent yourself well and the company well.""To be an effective leader, there has to be vulnerability and authenticity, and you have to be willing to open up a little bit personally in order to share that." Check out Alyssa's website LinkedIn: Alyssa Gelbard and Ed Marsh Twitter: Ed Marsh Instagram: Ed Marsh YouTube: @PointRoadGroup and @EdMarsh Show Transcript  Chapters 00:00 Introduction and Background of Alyssa Gelbard 02:49 The Importance of Personal Branding and Executive Presence 13:44 The Impact of LinkedIn Profiles on Marketing, Sales, and Recruiting 21:19 The Blurring Line Between Personal and Professional on Social Media 26:10 Maintaining a Professional Image on LinkedIn 27:37 The Importance of Consistency in Personal Branding 29:11 Vulnerability and Authenticity in Leadership 31:24 Networking with a Purpose 36:32 The Significance of Personal Branding in Board Directorship 42:23 Telling Your Story as a Board Member 48:31 Understanding the Value of LinkedIn for Boards 52:41 The Power of LinkedIn for Executive Branding and Business Growth 54:38 Building Trust and Differentiating Your Business on LinkedIn 01:00:23 The Rise of Video Content in Executive Branding 01:05:43 Choosing the Right Social Media Platforms for Your Brand   Manufacturers should consider the Overall Revenue Effectiveness™ Framework for strategic growth #LinkedIn #ExecutiveBranding #ExecutivePresence #PersonalBranding

Douglas Burdett on Marketing and Sales Books and the Importance of Buyer Research in Marketing for Manufacturers - Industrial Growth Institute Podcast Episode # 26 with Ed Marsh Summary Douglas Burdett, host of the Marketing Book podcast, shares insights on cutting through opinions and finding the right path to predictable revenue growth. He emphasizes the importance of understanding customers and solving their problems, rather than focusing solely on advertising. Burdett recommends books like 'Bullseye Marketing', 'Lean Marketing' by Alan Dib, 'Smart Marketing for Engineers' by Rebecca Geier, 'Content Marketing Engineered' by Wendy Covey, 'They Ask You Answer' by Marcus Sheridan, 'Humanizing B2B' by Paul Cash, and 'Buyer Personas' by Adele Revella as essential reads for B2B industrial business owners. In this conversation, Douglas discusses the power of understanding your customer and the importance of sales and marketing alignment. He explores: the value of creating buyer personas through qualitative research and customer interviewshis preference for reading hardcover books and the process he uses to take notesinsights on the use of AI in marketing and cautions against outsourcing the entire marketing functionfocusing on practical resources such as podcasts, YouTube channels, and blogsthe importance of innovation and marketing in business. Takeaways Cut through opinions and focus on understanding customers and solving their problems.Avoid starting with product features and instead focus on understanding customer stresses and friction.Understanding your customer is crucial for effective marketing.Sales and marketing alignment is essential for business success.Creating buyer personas through qualitative research and customer interviews can provide valuable insights.AI can be a powerful tool in marketing, but it should be used strategically and with clear direction.Focus on practical resources such as podcasts, YouTube channels, and blogs for ongoing learning and professional development.Innovation and marketing are key drivers of business growth and profitability. Takeaway Quotes from Douglas Burdett "Marketing is primarily about understanding your customers and how you run your company.""Help customers overcome the fear of making a decision and guide them through the buying journey.""The closest thing to [the secret sauce] is understanding your customer.""Most people would prefer to have a salesperson free experience." Check out Douglas' website LinkedIn: Douglas Burdett and Ed Marsh Twitter: Douglas Burdett and Ed Marsh Instagram: Ed Marsh YouTube: @ARTILLERYLLC and @EdMarsh Show Transcript  Chapters 00:00 Introduction to Douglas Burdett and the Marketing Book Podcast 07:35The Difference Between Advertising and Marketing 15:09 The Biggest Misconception About Marketing for Mid-Sized Businesses 19:27 The Importance of Sales and Marketing Alignment 27:01 Douglas Burdett's Journey into Podcasting 32:05 Essential Books for B2B Industrial Business Owners 43:13 Understanding Your Customer 48:31 Reading Hardcover Books and Taking Notes 51:38 Dissonance between Audio Format and Reading Hardcover Books 56:37 The Value of Interviews and Recommendations 58:30 Practical Topics and Listeners' Preferences 01:03:57 The Importance of Sales and Marketing Alignment 01:09:25 Listening to Podcasts at Normal Speed 01:14:27 AI in Marketing and Practical Use Cases 01:19:03 The Hype and Reality of AI   Manufacturers should consider the Overall Revenue Effectiveness™ Framework for strategic growth More on The JOLT Effect here #MarketingBookPodcast #DouglasBurdett #ManufacturingMarketing #IndustrialMarketing #MarketingForManufacturers #SalesAndMarketingAlignment #BuyerPersona #AdeleRevella  @BuyerpersonaInstitute  #JoltEffect #IndustrialSales #PredictableRevenue

Adam Honig on Why CRM Adoption Rates are So Chronically Low Among Industrial Sales Teams - Industrial Growth Institute Podcast Episode # 25 with Ed Marsh Summary In this podcast episode, Ed Marsh and Adam Honig discuss the challenges and misconceptions surrounding CRM in the industrial manufacturing space. They explore the reasons why many sales reps dislike using CRM and the common pitfalls of CRM implementation. They also delve into: the importance of having a clear goal and strategy for CRM usagethe need for CRM to be user-friendly and focused on helping salespeople sell more efficiently. The conversation touches on topics such as: the integration of ERP data into CRMrole of IT and sales ops in CRM managementpotential for community-building in the industrial space. CRM software should adapt to the needs of users, rather than users having to adapt to the software. The goal is to support users in doing their jobs, rather than creating additional tasks for them.  @SpiroHQ  aims to provide a CRM solution that is built for manufacturers and distributors, with a data model that accommodates their specific needs. The software uses AI to automatically collect and analyze data, providing visibility into customer interactions and order variations. Takeaways Many sales reps in the industrial manufacturing space dislike using CRM due to the perception that it is primarily used for monitoring and tracking rather than helping them sell more efficiently.A clear goal and strategy for CRM usage is essential for success. Companies should define what they want to achieve with CRM, such as increasing cross-selling, expanding the footprint within existing accounts, or improving communication between inside and outside sales teams.CRM should be user-friendly and designed to support salespeople in their daily activities. It should automate tasks, provide relevant insights, and integrate with other systems, such as ERP, to streamline processes and provide a comprehensive view of customers.The management of CRM should involve both sales ops and IT. Sales ops should focus on the why and the goals, while IT can provide technical support and ensure data security.There is potential for community-building in the industrial space, but the platform used should align with the preferences and habits of the target audience, such as LinkedIn groups or industry-specific platforms.CRM should serve as a single work location for sales reps, integrating insights from marketing automation and providing a holistic view of customer interactions. CRM software should adapt to the needs of users, rather than users having to adapt to the software.Spiro.ai provides a CRM solution built for manufacturers and distributors, with a data model that accommodates their specific needs.The software uses AI to automatically collect and analyze data, providing visibility into customer interactions and order variations.The focus is on activity and high-quality conversations, rather than just forecasting.Spiro.ai offers full-service setup to ensure successful implementation. Takeaway Quotes from Adam Honig "I really do hate CRM. It's like a passion for me.""CRM in so many organizations is really just something that's put on the sales team so that management can know who to fire and not fire.""If you're requiring the team to put data in, you're just going to get garbage out of it.""CRM software should just support users in doing their jobs." Check out Adam's website LinkedIn: Adam Honig and Ed Marsh Twitter: Adam Honig Ed Marsh Instagram: Ed Marsh YouTube: @SpiroHQ  and @EdMarsh Show Transcript  Chapters 00:00 Introduction and Complexity Surrounding CRM in Industrial Sales 08:29 The Negative Perception and Challenges of CRM Implementation 14:31 Improving Communication and Driving Order Volume with CRM 20:38 Integrating ERP Data into CRM for Better Customer Knowledge 33:30 The Role of Sales Ops and IT in CRM Management 35:56 Key Functions and Features of CRM 36:44 Adapting CRM Software to User Needs 40:05 Spiro.ai: A CRM Solution for Manufacturers and Distributors 46:17 Automating Data Collection and Analysis with AI 48:02 Full-Service Setup for Successful Implementation   Check out this downloadable guide to building your sales tech stack   #CRM #CRMTool #CustomerRelationshipManagementSoftware #MicrosoftDynamicsCRM #HubSpotSales #HubSpotCRM #CRMImplementation #CRMSetup #CRMConsulting #ZOHOCRM #PipedriveVsHubSpot #SpiroCRM #AdamHonig #Podcast #BestCRMForManufacturingBusiness #CRMAdoption #BestCRM2024 #CRMTips #CRMForManufacturing #WhyCRMFails #CreateCustomObjectHubsSpot #CRMCustomerRelationshipManagement #industrialconstruction #MembraneCRM #SugarCRM #SalesforceCRM #CRMFailure

Rudy Scarito on Middle Market Industrial Mergers, Acquisitions and Access to Capital - Industrial Growth Institute Podcast Episode # 24 with Ed Marsh Summary Rudy Scarito, an investment banker with extensive experience in mergers and acquisitions, shares insights on the importance of considering acquisitions and exits as part of a business growth strategy. She discusses the current market trends, including the silver tsunami of baby boomer business owners looking to sell, and the opportunities for growth through acquisitions. Rudy emphasizes the need for business owners to proactively think about transactions and engage in strategic planning. She also highlights: the role of advisory boards, lawyers, and accountants in guiding companies through the transaction processthe process of buying and selling businessesrole of investment bankers, and the importance of preparing for a transactionneed for business owners to have a clear understanding of their goals and to seek the assistance of professionals who specialize in mergers and acquisitions. Scarito also highlights the importance of vetting investment bankers and selecting the right fit for a company. She discusses the benefits of having a well-structured board of directors and the value that independent directors can bring to a company. Rudy concludes by discussing the current state of private equity and the potential impact of economic and political instability on transactions. Takeaways Acquisitions and exits should be considered as part of a business growth strategy.The lower end of the middle market is currently active, with many baby boomer business owners looking to sell.Business owners often need a catalyst, such as a medical issue or a desire for a different lifestyle, to prompt them to consider selling.Companies should proactively think about transactions and engage in strategic planning, including identifying potential acquisition opportunities and evaluating financing options.Business owners should have a clear understanding of their goals when considering buying or selling a business.Seek the assistance of professionals who specialize in mergers and acquisitions to navigate the complex process.Vet investment bankers and select the right fit for your company by asking questions and seeking recommendations from trusted sources.A well-structured board of directors with independent directors can provide valuable insights and guidance.Private equity is a viable buyer for middle market industrials and is likely to remain so for the foreseeable future.Consider the potential impact of economic and political instability on transactions and plan accordingly. Takeaway Quotes from Rudy Scarito "It's fraught with peril. I would say unless it's a very simple deal, most business owners should seek the assistance of a professional who focuses and specializes in this.""I believe that strategy should consider two kinds of transactions routinely." Check out Rudy's website and a list of her industrial transactions LinkedIn: Rudy Scarito and Ed Marsh Twitter: Ed Marsh Instagram: Ed Marsh YouTube: @EdMarsh Show Transcript  Chapters 00:00 Introduction and the Importance of Acquisitions and Exits 05:19 The Active Lower End of the Middle Market 11:43 The Ease of M&A Transactions Compared to Capital Transactions 16:45 The Importance of Cash at Closing 20:20 The Role of Investment Bankers in M&A 25:35 Integration and the Involvement of Sellers After the Deal 32:57 The Challenges of Business Owners and the Role of Advisory Boards 39:11 Access to Capital and the Role of Investment Bankers 40:37 The Process of Buying and Selling Businesses 41:29 Seeking Professional Assistance in Mergers and Acquisitions 42:14 Vetting Investment Bankers: Finding the Right Fit 44:12 The Value of a Well-Structured Board of Directors 48:52 Private Equity in the Middle Market 54:27 The Impact of Economic and Political Instability on Transactions   Manufacturers should consider the Overall Revenue Effectiveness™ Framework for strategic growth  #MiddleMarket #IndustrialMergersAndAcquisitions #MandA #MergersAndAcquisitions #InvestmentBanker #SellingYourCompany #InvestmentBanking #CommercialBanking #InorganicGrowth #OrganicGrowth #ManufacturingBusinessValuation #PreparingaCompanyForSale #BusinessBrokers #BusinessExit #GrowthStrategy #GrowthStrategyRoadmap #ACG #M&A #IndependentDirectors #BoardStrategy

Jim Blasingame on the Age of Customer Relevance - Industrial Growth Institute Podcast Episode # 23 with Ed Marsh Summary Jim Blasingame, a consultant, strategist and futurist, chats with host Ed Marsh about the importance of capitalism and the concept of abundance. He emphasizes the need for businesses to adapt to the digital age and prioritize relevance in order to succeed. Blasingame also highlights the significance of storytelling in connecting with customers and building relationships and shares insights from his book, 'The Age of the Customer,' which focuses on the impact of digital transformation and the customer's control over interactions. Additionally, he discusses: the importance of helping customers and their customerschallenges faced by industries slow to embrace changeimpact of the 2008 GFC (great financial crisis) on business decision-makingimportance of veterans in the workforcevalue of building customer communitiesneed for leadership and ownership transitions in businessesthe power of analog human connections in a digital age. Takeaways Capitalism is the only ideology that continues to work and provide abundance.Businesses must adapt to the digital age and prioritize relevance to succeed.Storytelling is a powerful tool for connecting with customers and building relationships.Helping customers and their customers is crucial for long-term success.Industries that are slow to embrace change may struggle to stay relevant. The 2008 financial crisis had a significant impact on decision-making in businesses, leading to a shift in authority and decision-making power.Veterans bring valuable skills and attributes to businesses, including organization, discipline, and decision-making abilities.Building customer communities and demonstrating values are essential for businesses to attract and retain customers in the digital age.Leadership transitions and ownership transitions are critical for the growth and success of middle-market companies.Analog human connections and high touch interactions are still essential in a digital world.Businesses should focus on loving and nurturing their customers to build long-term relationships and loyalty. Takeaway Quotes from Jim Blasingame "Capitalism is ugly and complicated and unfair and brutal. It can be lots of things that are not so sweet, but still the only one that works.""The best way to describe capitalism is abundance.""Help your customers help their customers. If you want to have loyal customers, you can't just be transactional.""After 2008, that person who'd maybe been with the company 20 or 30 years was no longer there. They were replaced by a younger person who was given no budget, no authority.""I used to call on the president of that company, the CEO of that company. And I'd go in there and I'd say, hey, George, I got this idea here. And George would say, how much? About $8 million. And George would reach over and push the button and say, send bill in here or Mary in here and Mary would come in a VP a senior VP and George would say here Jim wants to do this make it happen." Check out Jim's website  LinkedIn: Jim Blasingame and Ed Marsh Twitter: Jim Blasingame and Ed Marsh Instagram: Ed Marsh YouTube: @EdMarsh Show Transcript  Chapters 00:00 Introduction and Jim Blasingame's Background 02:11 The Power of Capitalism and Abundance 06:37 Adapting to the Digital Age and Prioritizing Relevance 10:19 The Role of Storytelling in Connecting with Customers 14:17 Helping Customers and Their Customers 43:13 The Impact of the 2008 Financial Crisis 46:32 The Challenge of Decision-Making in the Digital Age 51:31 The Importance of Being a Generalist 53:46 The Value of Veterans in the Workforce 59:15 Building Customer Communities in the Digital Age 01:02:34 Leadership and Ownership Transitions in Businesses 01:09:23 The Struggle for Proficiency in Hobbies 01:10:44 Preparing for the Silver Tsunami 01:14:51 The Power of Inorganic Growth 01:17:10 Creating Content and Overcoming Perfectionism 01:21:20 Analog Human Connections in a Digital Age 01:23:32 Loving and Nurturing Customers for Long-Term Success   #Podcast #Leadership #Relevance #DecisionMaking #Community #Veterans #SilverTsunami #Digital #HumanConnection #Storytelling #Capitalism #AgeOfTheCustomer #B2BStorytelling

Dan Ott on Generational Conflicts in Industrial Marketing and Sales - Industrial Growth Institute Podcast Episode # 22 with Ed Marsh Summary In this episode Ed Marsh interviews Dan Ott, the Creative Content Manager for the National Tooling and Machining Association (NTMA). They discuss the challenges faced by middle-market industrial manufacturing companies, particularly in the machine shop industry, and the need for a shift in mindset and marketing strategies. They also explore the importance of building relationships and trust with customers, the role of content in industrial marketing, and bridging the generational gap in the industry. They cover various topics related to marketing in the manufacturing industry and touch on the role of marketing in attracting production talent. Other topics include: importance of showcasing clean and organized manufacturing facilities to attract talent and change misconceptions about the industrygenerational differences in marketing and sales activities, emphasizing the need for humility and open-mindedness on both sidesrole of marketing in building and maintaining relationships with customersimportance of creating success contentvalue of trade associations like NTMA and the need for active engagement to fully benefit from membership. The conversation concludes with a discussion on the role of AI in marketing and the importance of flexibility and adaptability in the industry. Takeaways Middle market industrial manufacturing companies, especially in the machine shop industry, face challenges in adapting to changing market dynamics and technology.Traditional marketing strategies in the industry, such as emphasizing years of experience and facility size, are no longer effective.Building relationships and trust with customers is crucial in industrial marketing, and content plays a key role in facilitating conversations and establishing credibility.There is a need to bridge the generational gap in the industry, with older generations being more resistant to technological changes and younger generations needing to develop in-person relationship-building skills.Content in industrial marketing goes beyond written material and includes various forms of communication, such as videos, online courses, and knowledge bases.The machine shop industry can be made more appealing and enticing through creative content that showcases the capabilities and intricacies of machining processes. Clean and organized manufacturing facilities can help attract talent and change misconceptions about the industry.Humility and open-mindedness are essential for successful marketing and sales activities, especially when bridging generational differences.Trade associations like NTMA offer valuable networking, learning, and advocacy opportunities for manufacturers.Flexibility and adaptability are key in the manufacturing industry, both in terms of work arrangements and marketing strategies. Takeaway Quote from Dan Ott "I honestly think that the two biggest things that get in the way, even the biggest thing is just pride because they've done things for so long and it's worked for so long that the idea that someone would come in and tell them how to do what they've done for 20 to 30 years is just completely out of left field." Check out Dan's website  LinkedIn: Dan Ott and Ed Marsh Twitter: Ed Marsh Instagram: Dan Ott and Ed Marsh YouTube: @NTMANow and @EdMarsh Show Transcript  Chapters 00:00 Challenges and Mindset Shifts in Middle Market Industrial Manufacturing 14:38 Building Relationships and Trust in Industrial Marketing 21:33 The Role of Content in Industrial Marketing 25:22 Bridging the Generational Gap in the Machine Shop Industry 36:39 Expanding the Definition of Content in Industrial Marketing 43:32 Making the Machine Shop Industry Appealing and Enticing 46:23 Bridging Generational Differences 48:53 Overcoming Pride and Embracing Humility 52:43 The Importance of Listening and Learning 54:48 Creating Success Content for Customer Retention 56:39 The Value of Trade Associations 01:02:31 Flexibility and Adaptability in Work and Marketing 01:10:32 AI in Marketing: A Tool, Not a Replacement 01:18:17 Preparing for In-Person Events 01:25:05 Final Thoughts on Industrial Marketing #IndustrialMarketingAndSales #IndustrialSalesAndMarketing #AI #IndustrialSales #IndustrialMarketing #ManufacturingMarketing #NTMA #IMTS #Pride #IntergenerationalConflict #MachineShops #Trust #Humility #Content #ContentMarketing #DemandGeneration #LeadGeneration

Cece Kintner on RevOps and Marketing and Sales Operations for Industrial Manufacturers - Industrial Growth Institute Podcast Episode # 21 with Ed Marsh Summary Cece Kintner, Director of Marketing and Sales Operations at TekStream Solutions, shares her insights on industrial marketing and sales, trade shows and events, and the evolution of buyer behaviors. Cece emphasizes the importance of understanding the changing role of buyers, the need for sales and marketing alignment, and the value of sales enablement. She also discusses: the impact of technology on marketing and salesimportance of understanding buyer personasrole of CRM in the sales processchallenges and strategies of aligning marketing and sales in the industrial sectorneed for sales reps to trust and utilize the tools and resources provided by marketing. Cece also explores the impact of the internet on channel sales and the role of social media in the industrial industry, and the value of user groups and communities in building relationships and sharing experiences. The conversation concludes with Cece sharing insights on the role of AI in marketing and sales, the importance of experimentation and testing, and the need for continuous learning and adaptation in the ever-changing digital landscape. Takeaways Buyers now do extensive research before engaging with a companySalespeople play a crucial role in building relationships with buyers and partners, and their success depends on having the right tools and support from marketing.B2B buyers have higher expectations for refined experiences, similar to B2C experiences, so companies need to adapt and provide personalized and valuable interactions.Marketing and sales operations (revenue operations (RevOps)), are essential for aligning marketing and sales teams and providing the tools and processes needed for success.Understanding buyer personas and tailoring messages to different stakeholders within a buying team is crucialEvents and trade shows are still importantCRM use is not optionalSales reps should trust and utilize the tools and resources provided by marketing to enhance their selling process.The internet has transformed channel salesUser groups and communities play a vital role in building relationshipsAI can be a valuable tool for generating ideas and refining marketing strategies, but human creativity and judgment are still essential.Experimentation, testing, and continuous learning are key to staying ahead in the digital landscape of marketing and sales. Takeaway Quotes from Cece Kintner "Buyers don't come to me or to my team to ask all of their questions any longer. Before we even know who they are or that they have interest in our product, they have done research.""Salespeople are relationship builders to start. Number one, they have a duty to build a relationship with their buyers and with their partner sales managers." Check out Cece's website  LinkedIn: Cece Kintner and Ed Marsh Twitter: Ed Marsh Instagram: Ed Marsh YouTube: @EdMarsh Show Transcript  Guide to Building an Effective Sales Tech Stack Sales Operations for Industrial Manufacturers Marketing and Sales Operations Chapters 00:00 Introduction and Background of Cece Kittner 04:40 Understanding the Evolution of Buyer Behaviors in Industrial Marketing 07:05 The Importance of Sales and Marketing Alignment in Industrial Sales 20:49 The Value of Understanding Buyer Personas in Industrial Marketing 25:39 The Role of CRM in the Sales Process 47:10 The Impact of the Internet on Channel Sales 49:40 The Importance of Social Media in the Industrial Industry 52:41 The Value of User Groups and Communities 56:06 The Role of AI in Marketing and Sales 01:04:46 Effective Prospecting Strategies 01:06:43 Partnerships in the Industrial Sector 01:10:06 Experimentation and Continuous Learning in the Digital Landscape 01:15:00 Bridging the Gap Between Sales and Marketing 01:19:26 The Risk of Speeding Past Opportunities #B2BSales #SalesOps #SalesOperations #RevOps #RevenueOperations #MarketingOps #MarketingOperations #IndustrialMarketing #ManufacturingMarketing #B2BMarketing #Podcast #ComplexSales #SalesAndMarketingAlignment #RevenueGrowth #ManufacturingRevenueGrowth #CRM #MarketingAutomation #SalesEnablement #SalesTechStack #ChannelSales #SalesChannel #IndirectSalesChannel #BuyerPersona

Jon Russo on Account-Based Marketing and Go To Market Strategies - Industrial Growth Institute Podcast Episode # 20 with Ed Marsh Summary In this episode, Ed Marsh interviews Jon Russo, a three-time global CMO and the founder of B2B Fusion. They discuss account based marketing (ABM) and its evolution into account-based go-to-market strategies. They also touch on the importance of executive commitment, sales enablement, and the integration of marketing and sales. Jon emphasizes the need for data-driven decision-making and the common mistakes made in strategy and tactics as well as: having a clear ideal customer profile (ICP) when developing an account-based go-to-market strategyneed for a long-term approach, the right technology to support and track the strategyimportance of training sales teams to focus on the ICPvalue of marketing and sales collaborationneed to add value to prospects by addressing their specific business needs. Their conversation concludes by exploring the challenges and opportunities of AI in the go-to-market space, the importance of community and events, and the need for great content in marketing efforts. Takeaways Account-based marketing (ABM) has evolved into account-based go-to-market strategies, integrating marketing and sales.Executive commitment is crucial for the success of ABM and other go-to-market strategies.Sales enablement is important in helping sales teams execute marketing strategies effectively.Industrial manufacturers can benefit from applying the same rigor and data-driven approach to marketing and sales as they do to manufacturing and operations.Optimizing the funnel and executing tactics require a focus on sales and marketing productivity and the ownership of data. Having a clear ideal customer profile (ICP) is crucial for developing an effective account-based go-to-market strategy.A long-term approach is necessary for success in account-based go-to-market, with a focus on building relationships and adding value to prospects.Technology plays a key role in supporting and tracking the account-based go-to-market strategy.Marketing and sales teams must collaborate closely and align their efforts to effectively target and engage the ideal customer profile.Great content is essential for attracting and engaging prospects, and events can be a valuable tool for building relationships and sharing insights.AI has the potential to transform go-to-market strategies, but accuracy and data quality are important considerations.Community engagement and continuous learning are important for staying up-to-date with industry trends and best practices. Takeaway Quotes from Jon Russo "Account-based go-to-market is target account sales with marketing mixed in.""ABM has evolved into a go-to-market motion and is less about account-based as a function.""You don't know what your white space is. Who do I target? How do I target? Your sellers are kind of going through the morass of their systems trying to piece all this information together and they're losing valuable time." Check out Jon's website  LinkedIn: Jon Russo and Ed Marsh Twitter: Jon Russo and Ed Marsh Instagram: Ed Marsh YouTube: @B2BFusion and @EdMarsh Show Transcript  Learn more about ABX and Account Based Marketing for Industrial Manufacturers Chapters 00:00 Introduction and Background 06:02 The Evolution of Account-Based Marketing 13:36 Account-Based Go-to-Market Strategies 28:07 Starting a Business and Frustration with Data 42:17 Common Mistakes in Strategy and Tactics 45:10 The Challenges of Upselling and Targeting 47:00 Nashville's Focus on Technology, Healthcare, and Manufacturing 52:49 Identifying the Ideal Customer Profile (ICP) 56:13 The Importance of a Long-Term Approach 58:23 Starting Small and Building Momentum 01:00:37 The Opportunities and Challenges of AI 01:08:12 Embracing Change and Taking Risks 01:10:49 The Importance of Great Content 01:14:03 The Power of LinkedIn and Continuous Learning #ABM #ABX #AccountBasedMarketing #AccountBasedSales #SalesEnablement #B2BSales #EnterpriseSales #IndustrialSales #IndustrialMarketing #EventMarketing #Community #ContentMarketing #AccountBasedGoToMarket #GTM #TargetAccountSales #ManufacturingMarketing #Podcast #salesAndMarketing #SalesAndMarketingAlignment #RevenueGrowth #RevenueGrowthStrategy

Ben Tagoe on the Power of Data and Analytics to Improve B2B Sales Performance - Industrial Growth Institute Podcast Episode #19 with Ed Marsh Summary Ben Tagoe is the CEO of Objective Management Group (OMG), a company that provides talent assessments for sales teams. He and Ed discuss the importance of data in sales and how OMG uses data to help companies hire and develop top-performing salespeople. Ben explores: the unique value proposition of OMGcomparing sales specific skill assessments vs. personality and behavioral testing toolsa decline in sales training investmenthow OMG's assessments provide accurate data for hiring decisions They also discuss the role of an assessment in a sales hiring process and other sales related topics including: the importance of continuous learning and personal developmentproductivity, hiring, and the future of salesthe challenges of hiring and retaining salespeople, particularly in the context of changing demographics and job market trendsthe importance of measuring the cost of sales hiring mistakesthe need for quick decision-making in managing sales teamspotential of AI in sales and the importance of personalization in sales outreach The conversation concludes with Ben reiterating the power of data in making management decisions and the importance of storytelling in presenting data effectively. Takeaways Data is crucial in sales and can be used to improve hiring and develop top-performing salespeople.Objective Management Group (OMG) provides talent assessments for sales teams, helping companies identify and train their salespeople.Ben Tagoe's background in finance and data modeling has shaped his understanding of the power of data in making better business decisions.Let's Get Ready is a nonprofit organization that provides college counseling and SAT tutoring to students from under-resourced backgrounds.OMG's unique value proposition lies in their ability to provide sales-specific talent assessments and their extensive data on sales competencies and performance.OMG aims to scale and work with thousands of companies in the future, leveraging their data-driven approach to improve sales effectiveness. OMG's tools are skills assessments that measure specific sales skills correlated to success.Personality tests are not effective in evaluating sales skills. - Many sales training programs only treat symptoms rather than addressing the root cause of underperformance.OMG's assessments provide accurate data for hiring decisions, but should be used in conjunction with other hiring processes.Onboarding and coaching are crucial for success in sales.The channel distribution model allows OMG to scale expertise and provide value to partners.The changing demographics and job market trends necessitate a reevaluation of hiring and retention strategies.Measuring the cost of sales hiring mistakes is crucial for understanding the impact on the business.Data is essential in making management decisions, but it must be presented in a compelling and coherent story. Takeaway Quote from Ben Tagoe "Investment in sales training was not keeping pace with trends in sales hiring."   Check out Ben's website  Support Let's Get Ready - Website and YouTube  LinkedIn: Ben Tagoe and Ed Marsh Twitter: Ed Marsh Instagram: Ed Marsh YouTube: @ObjectiveManagementGroup and @EdMarsh Show Transcript  Chapters 00:00 The Role of Data in Sales and Revenue Growth 04:01 From Finance to Data Modeling: Ben Tagoe's Background 06:24 Let's Get Ready: Empowering Students from Under-Resourced Backgrounds 14:18 OMG's Unique Value Proposition: Sales-Specific Talent Assessments 29:53 OMG's Tools vs. Other Assessment Options 34:02 The Decline in Sales Training Investment 36:58 Using OMG's Assessments for Sales Hiring Decisions 43:31 Taking the Gut Feeling Out of Hiring Decisions 47:39 Realizing the Full Potential of Individual Contributors 49:27 The Benefits of the Channel Distribution Model 51:18 Continuous Learning and Managing Personal Energy as a CEO 01:03:14 Adapting to Changing Demographics and Job Market Trends in Sales Hiring 01:06:45 Measuring the Cost of Sales Hiring Mistakes 01:14:45 The Potential and Challenges of AI in Sales 01:17:24 Data-Driven Decision Making: The Power of Data and Storytelling in Sales #SalesHiring #SalesRecruiting #B2BSales #ComplexSales #SalesImprovement #SalesCoaching #SalesTraining #SalesTransformation #SalesEffectiveness #SalesEfficiency #SalesCandidateAssessment #SalesTesting #OMG #DataScience #Statistics #PrivateEquity #RevenueGrowth #ObjectiveManagementGroup

Franz Shrepf Lays out the Power of Partnership Ecosystems and the Nearbound Movement - Industrial Growth Institute Podcast Episode #18 with Ed Marsh Summary In this episode, Ed Marsh interviews Franz Schrepf, a director of strategic partnerships at StreamYard and a renowned expert on partnerships. They discuss the importance of partnerships in tech revenue growth and how it applies to various industries. Franz shares his journey from being a Bavarian banker to working in the tech industry in Northern California, and the conversation covers various topics including: the power of face-to-face interactionspersonal branding in partnershipsthe importance of partnerships and how they can create a competitive advantage for companiesthe concept of an ideal partner profile and the different types of partnerships that exist. Franz emphasizes the need for partnerships to be mutually beneficial and aligned with the goals of both companies involved. He suggests that by partnering with market leaders and integrating their products, companies can attract more customers and gain a competitive advantage. They also discuss: Nearbound aims to redefine partnerships as a go-to-market strategy for all departments within a companyIndirect sales channels, such as value-added resellers, are examples of partnerships that are still relevantSales enablement content plays a critical role in supporting partnerships and sharing the better together storyOrganizational structure for partnerships depends on the type of partnerships a company focuses on, with teams often sitting in marketing, sales, or product departments Franz closes with the thought that the biggest risk for businesses in the next five years is staying top of mind for customers. However, partnerships present a significant opportunity for companies to leverage existing trust and customer bases to succeed in a rapidly changing landscape. Takeaways Partnerships are a strong trend and a key driver of revenue growth in the tech industry.Partnerships leverage trust and recommendations to acquire new customers and access new audiences.Partnerships can create a competitive advantage for companies by leveraging shared customers and social capital.An ideal partner profile should focus on companies that have a customer overlap and can help achieve mutual goals.Different types of partnerships exist, such as marketing partnerships, technology partnerships, and service partnerships.The Nearbound movement redefines partnerships as a go-to-market strategy for all departmentsIndirect sales channels, like value-added resellers, are still relevantSales enablement content is crucial for supporting partnerships and sharing the better together storyThe organizational structure for partnerships depends on the type of partnerships a company focuses onStaying top of mind for customers is a significant challenge in an era of AI and automationPartnerships present a significant opportunity for companies to leverage existing trust and customer bases Takeaway Quotes from Franz Schrepf "If you partner with the market leader, all the competitors will want to partner with you as well." "There is a special magic to being in person." "Good marketing means being at the right time at the right place."   Check out Franz' website  Franz' TEDx talk LinkedIn: Franz Schrepf and Ed Marsh Twitter: Franz Schrepf and Ed Marsh Instagram: Ed Marsh YouTube: @ThePartnerShip and @EdMarsh Show Transcript  Chapters 00:00 The Power of Partnerships in Tech Revenue Growth 09:14 The Magic of Face-to-Face Interactions 25:21 Leveraging Trust and Recommendations in Partnerships 31:12 Creating a Competitive Advantage through Partnerships 43:07 The Importance of Partnerships 45:46 Defining a Partnership and Competitive Advantage 47:25 Uncovering Partnership Opportunities 51:20 Exclusivity and Mutually Beneficial Partnerships 53:24 The Power of Partnerships 57:39 The Nearbound Movement 01:00:44 Partnerships as a Testing Ground 01:01:40 The Role of Sales Enablement Content 01:05:20 Structuring Partnerships 01:19:15 Partnerships in a Changing Landscape 01:21:28 The Opportunity of Partnerships #PartnershipEcosystems #Partnerships #RevenueGrowth #FaceToFace #PersonalBranding #BookOnPartnerships #PersonalKnowledgeManagement #CompetitiveAdvantage #IdealPartnerProfile #GoToMarketStrategy #Exclusivity #Distribution #ChannelSales #Nearbound #IndirectSalesChannel #ValueAddedResellers #SalesEnablement #SalesEnablementContent #B2BSales #B2BMarketing

Brisa Renteria on Recruiting, Hiring, Onboarding and Retaining Top Sales Talent - Industrial Growth Institute Podcast Episode # 17 with Ed Marsh Summary In this episode, Ed Marsh interviews Brisa Renteria, a sales expert and CEO of Improved Growth, about the challenges of hiring and training sales teams. The discussion covers a variety of topics including: the high cost of sales hiring mistakesimportance of behavior in sales successneed for sales managers to provide proper training and accountabilitythe misconception of sales being pushythe value of phone calls in today's digital age Brisa touches on the challenges of scaling up a business and the importance of hiring the right people, and how training salespeople compares to raising children, and how her commitment to donating a portion of her revenue to a nonprofit focused on children's cancer originated from her personal experience with cancer. The conversation then shifts to the common mistakes companies make in sales hiring and the importance of having a strong hiring process. Brisa emphasizes: the significance of onboarding, training, and coaching in retaining top sales talent - the value of using assessments to inform the hiring and development processthe importance of attracting and hiring the right salespeoplethe need for companies to be clear about the responsibilities and requirements of the role, as well as the skills and qualities needed for successthe value of creating job postings that describe the ideal person rather than just listing duties and responsibilitiesthe personal approach that female leaders often bring Takeaways Sales hiring mistakes can be costly, with expenses exceeding two to three times the salesperson's salary.Behavior is a crucial factor in sales success, and accountability is keySales managers play a vital role in training and holding salespeople accountable.Phone calls are still an effective sales tool, as many salespeople have abandoned this method.Training salespeople can be more challenging than raising children, as many salespeople are not coachable and resistant to change.Common hiring mistakes include hiring based on personality, hiring from the same industry, and lacking a structured hiring process.Sales onboarding (vs. orientation), training, and coaching are crucial for retaining top sales talent and setting them up for success.Assessments provide valuable data to inform the hiring and development process, helping identify strengths and areas for improvement.Job postings should focus on describing the ideal person rather than just listing duties and responsibilities.Female leaders often bring a personal and caring approach to leadership.Companies should embrace AI as an opportunity and explore how it can enhance their sales hiring process. Takeaway Quotes from Brisa Renteria "No matter how perfect your strategy or how brilliant your marketing or how genuine your focus on the customer, if your sales team can't execute, the rest of it's wasted." "If I had to choose one, I would say behavior is the most important in sales success." "We want to help the salesperson through the sales leader." "You have to understand what would it take for someone to be successful in your business."   Check out Brisa's website  LinkedIn: Brisa Renteria and Ed Marsh Twitter: Ed Marsh Instagram: Brisa Renteria/Improve Growth and Ed Marsh YouTube: @ImproveGrowth and @EdMarsh Show Transcript  Chapters 00:00 Introduction and the Crisis in Sales Execution 02:33 The High Cost of Sales Hiring Mistakes 16:30 The Importance of Behavior in Sales Success 23:34 The Role of Sales Managers in Training and Accountability 28:04 The Journey of an Entrepreneur 33:56 Challenges of Training Salespeople 38:03 Common Hiring Mistakes 46:23 Importance of Onboarding, Training, and Coaching 49:49 Using Assessments in Hiring and Development 56:09 Helping Salespeople through Sales Leaders 59:08 Understanding Success in Your Business 01:03:00 The Impact of AI in Sales Hiring 01:09:19 Balancing Business and Personal Life 01:15:49 The Five Interview Questions Companies Miss 01:22:30 Improving Sales Hiring to Change Your Business #SalesHiring #SalesRecruiting #SalesManagement #SalesOnboarding #RetainingTopSalesTalent #RetainingSalesReps #SalesTalentManagement #SalesHiringProcess #CandidateAssessment #SalesCandidateAssessment #OMG #ObjectiveManagementGroup #BrisaRenteria #SalesInterviewingTips #HowToHireTopSalesTalent #Entrepreneurship #Accountability #SalesHiringMistakes #B2BSales

Dustin Levy on Channel Sales, Risk Aversion and Marketing & Sales Alignment - Industrial Growth Institute Podcast Episode # 16 with Ed Marsh Summary Dustin Levy, Vice President of the Industrial Safety Business Group at Gentex Corporation, chats with host Ed Marsh about a wide range of industrial marketing and sales topics including: comfort, learning, and panic zonesthe importance of leaders and mentors in helping individuals navigate the learning zone without entering the panic zone and the significance of having a growth mindsetimportance of self-awareness and self-correction in one's careertransition from product management to sales managementthe value of understanding channel partners' businesses They discuss three types of salespeople: technical, account managers, and sales managers and explore the channel sales question of exclusive or non-exclusive representation agreements and the imperative of sales and marketing alignment. Other topics include: the Jolt Effect, buyer risk aversionuse of AI in saleschallenges and opportunities facing businesses in the industryDustin's implementation of a new program based on the Jolt Effectthe importance of effective sales and marketing strategies for industrial manufacturers. Takeaways The comfort zone is where we feel safe and familiar, while the learning zone is just outside of it, where we stretch and grow. The panic zone is beyond the learning zone, where we feel overwhelmed and retreat back to our comfort zone.Having a growth mindset and continuously expanding our comfort zones is essential to adapt to the accelerating rate of change.Dustin's career trajectory, combining science, marketing, and sales, is a result of his natural curiosity and empathy for blue-collar workers.The transition from product management to sales management requires understanding the end user and channel partners' businesses.Successful channel sales require finding the right partners who bring unique value to end users and managing a limited distribution model.There are three types of salespeople: technical salespeople, account managers, and sales managers, each with their own strengths and challenges.Balancing marketing and sales is essential in today's complex buying journey, where customers expect seamless interactions and expertise.Understanding and addressing buyer risk aversion is crucial in the industrial manufacturing industry.AI can be used to support sales channels, but face-to-face interactions and understanding the customer's work environment remain important. Takeaway Quotes from Dustin Levy "A fixed mindset is not a safe place. A growth mindset is where you're proactively controlling your own outcomes and future." "I think it probably is something that if you haven't figured it out and learned that lesson on the first half of your career, highly unlikely that your second half is gonna show major behavioral differences." "We really feel the pain of a loss substantially more than the boost from a win."   Check out Dustin's website and watch his TEDx talk on YouTube LinkedIn: Dustin Levy and Ed Marsh Twitter: Ed Marsh Instagram: Ed Marsh YouTube: @EdMarsh Show Transcript  Chapters 00:00 Introduction to Dustin Levy and his expertise 03:15 The Comfort, Learning, and Panic Zones 14:35 Dustin Levy's Career Trajectory 29:42 The Importance of Followers and Servant Leadership 35:06 The Value of Diverse Experiences in Career Development 37:43 Transitioning from Product Management to Sales Management 43:26 Managing Channel Partners and Exclusive vs. Non-Exclusive Representation Agreements 51:53 The Three Types of Salespeople: Technical, Account Managers, and Sales Managers 59:41 Navigating the Intersection of Marketing and Sales 01:05:57 Re-Centering Through Exercise and Personal Well-Being 01:08:14 Addressing Buyer Risk Aversion 01:12:32 The Jolt Effect and Offering Recommendations 01:14:25 Taking Risk Off the Table 01:19:25 Dealing with Indecision in Sales 01:22:54 Professional Growth Resources 01:31:00 The Future of AI in Sales 01:34:19 Challenges and Opportunities in Industrial Manufacturing 01:36:38 Final Thoughts and Advice #GrowthMindset #FixedMindset #ChannelSales #IndirectSalesChannel #SalesManager #MarketingAndSalesAlignment #RiskAversion #ComplexSales #ManufacturingMarketing #IndustrialMarketing #ScientistsAsSalespeople #IndustrialSales #ProductMarketing #AccountManagement #NewLogoSales #ProductDesign #ProductRoadmap #SalesManagement #CustomerFocus #Leadership #ServantLeadership #Manufacturing

Lisa Thompson Unveils Secrets of Strategic Pricing - Industrial Growth Institute Podcast Episode # 15 with Ed Marsh Summary In this conversation, Ed Marsh interviews Lisa Spadafora Thompson, a globally known expert in pricing and portfolio growth for B2B companies. They discuss strategic pricing, product management, and the challenges faced by industrial manufacturing companies. Lisa shares insights on: the role of pricing in marketingthe history of strategic pricingthe importance of understanding customer valuethe impact of pricing on profitabilitythe role of product managerschallenges of discounting strategiesthe impact of pricing on company growth and sustainability. The conversation delves into the intricacies of strategic pricing, exploring the multifaceted nature of pricing models and their impact on business success. Lisa shares insights on customer-driven pricing, cost considerations, competitive advantage, and the broader macroeconomic environment. She also discusses the intersection of board governance and management, as well as her involvement in nonprofit work and her outlook on the future of business. Takeaways Strategic pricing is a profit-driven approach to pricing that focuses on maximizing the value captured in the form of price.Product managers play a crucial role in understanding the intersection of customer needs and company goals to drive profitability and growth.Lack of understanding customer value, over-engineering products, and absence of a discounting strategy are common causes of lack of profitability.Small businesses often have a better understanding of customer value and profitability due to the simplicity of their organizational structure.Pricing is a strategic function that requires alignment with corporate strategy and a deep understanding of customer needs and market dynamics. Strategic pricing encompasses customer-driven pricing, cost considerations, competitive advantage, and the broader macroeconomic environment, requiring a holistic approach to pricing models.The intersection of board governance and management plays a crucial role in overcoming counterproductive organizational silos and driving impactful governance for business success.Involvement in nonprofit work and fostering education, especially for youth and marginalized communities, is a meaningful and impactful endeavor for creating positive change in society.The future of business holds the promise of redefining capitalism to focus on creating wealth, jobs, and community well-being, presenting an exciting opportunity for businesses to contribute to positive societal impact. Takeaway Quotes from Lisa Spadafora Thompson "When you're doing it strategically, this is pricing." "When you're sitting in front of the customer, that is the moment of truth. And everything you've done in the business, not just marketing, everything you've done as it relates to the products you've developed, the costs that you incur to bring them to market, the way you've priced, everything comes to roost when you are sitting in front of that customer."   Check out Lisa's website LinkedIn: Lisa Thompson and Ed Marsh Twitter: Ed Marsh Instagram: Ed Marsh YouTube: @EdMarsh Show Transcript  Chapters 00:00 The Art of Strategic Pricing: Maximizing Value and Profitability 17:40 Challenges and Solutions in Industrial Manufacturing Pricing 44:29 Unraveling the Complexity of Strategic Pricing 53:26 Navigating the Intersection of Board Governance and Management 01:08:09 Empowering Youth and Fostering Education 01:19:47 Redefining Capitalism: The Future of Business #pricing #StrategicPricing #ProductManagement #Strategy #ProductPricing #B2BPricing #SturbridgeGrowthPartners #LisaThompson #ThomasNagel #IndustrialMarketing #PricingBundling #IndustrialStrategy #IndependentDirectors #BoardOfDirectors #PsychologicalPricingInMarketing #PsychologicalPricingStrategy #ValueBasedPricing #CostBasedPricing #MarketPricing #ValueBasedPricingStrategy #CostBasedPricing #CostBasedPricingVsValueBasedPricing #DiscountingStrategies #ValuePricing #PricingModels #CompetitiveAdvantage #EdMarsh #IndustrialGrowthInstitute #pricingstrategy

John Panaccione on Decisions and Veterans in Business - Industrial Growth Institute Podcast Episode # 14 with Ed Marsh Summary In this episode, Ed Marsh interviews John Panaccione about the importance of inorganic growth and the role of inorganic growth options in revenue growth. They discuss John's background, his experience in small business finance and transactions, and his work in helping veterans succeed in entrepreneurship. They also: explore the topics of learning management systems (LMS)content marketing, and the evolution of inbound marketingthe intersection of SaaS and industrial manufacturingvalue of partner ecosystemsuse of courses in various industriessilver tsunami, which refers to the retirement of baby boomers and the opportunities it presents for younger entrepreneurs. In this conversation, John Panaccione discusses the different paths to business ownership, including starting a business from scratch, franchising, and buying an existing business. He also talks about the rise of entrepreneurship through acquisition and the opportunities it presents. John shares insights on raising capital for small businesses, the importance of solid financial information, and the process of mergers and acquisitions. He emphasizes the value of veterans in the business world and the benefits of their decision-making skills. John also discusses the challenges of competition and decision-making in today's market and offers advice on creating your own market and running experiments to drive growth. Takeaways Inorganic growth options are often overlooked in revenue growth strategies, particularly in the lower middle market.Learning management systems (LMS) and high-quality content are essential for effective training and marketing.Inbound marketing is still important, but it has become noisier and more competitive.Partner ecosystems and nearbound strategies can help companies gain access to new accounts and create valuable partnerships.Courses can be used for user training, lead generation, data collection, and creating certifications.Companies should consider the least amount of content with high quality for the most impact.The silver tsunami refers to the retirement of baby boomers and the opportunities it presents for younger entrepreneurs.Entrepreneurship through acquisition is a growing trend, offering opportunities for aspiring business owners.Raising capital for small businesses requires solid financial information and alignment of documentation.Mergers and acquisitions can be facilitated by experienced professionals to ensure a smooth process.Veterans bring valuable decision-making skills to the business world and should be considered for employment.Competition is fierce in today's market, and companies need to find ways to stand out and create their own market.Running experiments and learning from failures is crucial for growth and innovation.Effective pricing strategies can differentiate a business and create its own market.Sharing insights and knowledge with others is important for personal and professional growth. Takeaway Quotes from John Panaccione "Inorganic is often overlooked, particularly by the lower middle market." "The LMS is the racetrack, the content is the race cars." "Inbound marketing is not as powerful as it used to be." "Startup Culture we have in America" "Entrepreneurship through acquisition" "You have to have a pretty solid set of information" Check out John's website LinkedIn: John Panaccione and Ed Marsh Twitter: John Panaccione and Ed Marsh Instagram: John Panaccione and Ed Marsh YouTube: @johnpanaccione5979 and @EdMarsh Show Transcript  Chapters 00:00 The Overlooked Potential of Inorganic Growth 07:11 The Power of Learning Management Systems and High-Quality Content 39:29 The Silver Tsunami: Opportunities for Younger Entrepreneurs 47:43 Challenges of Competition and Decision-Making in Today's Market #InorganicGrowth #RevenueGrowth #SmallBusinessFinance #LiquidityEvent #Transactions #Veterans #Entrepreneurship #Vetrepreneurship #LMS #LearningManagementSystem #PRM #PartnerRelationshipsManagement #ContentMarketing #InboundMarketing #SaaS #IndustrialManufacturing #PartnerEcosystems #SalesChannel #IndustrialMarketing #SilverTsunami #RetirementTrends #BabyBoomers #BusinessOwnership #BuyingABusiness #EntrepreneurshipThroughAcquisition #RaisingCapital #MergersAndAcquisitions #VeteransInBusiness #DecisionMaking

Jon Selig on the Power of Humor to Improve Sales and Prospecting - Industrial Growth Institute Podcast Episode 13 Summary Episode 13 starts with Jon Selig and Ed Marsh lamenting the fact that sales can be less fun than it was a decade ago. Salespeople and prospects feel overwhelmed by repetitive sales cadences and stale tactics. John Selig, a stand-up comic and former salesperson, shares his journey from enterprise sales to comedy and how he found overlap between the two. He emphasizes: the importance of injecting humor into sales and marketing messaging to create a connection with prospectsthe process of creating comedy material and how it can be applied to content creation in the industrial spacetechniques for crafting effective cold openersthe value of humor in sales and the benefits of mastering business acumenthe importance of humor in sales and marketinghow humor can build trust, break through the noise, and evoke emotion, making consultative sales more effective. Jon also shares his process for helping companies incorporate humor into their messaging and sales strategies. He emphasizes the need for understanding the buyer's challenges and being able to have meaningful conversations. Jon shares his belief that the biggest problem in business is the increasing dependence on screens and the lack of human communication. He encourages companies to get back to basics and prioritize genuine interactions. Takeaways Sales can be less fun than it was a decade ago, with repetitive sales cadences overwhelming both salespeople and prospects.Injecting humor into sales and marketing messaging can create a connection with prospects and make the sales process more enjoyable.The process of creating comedy material can be applied to content creation in the industrial space, allowing for the development of engaging and relatable content.Crafting effective cold openers can help salespeople make a strong first impression and initiate meaningful conversations with prospects.Mastering business acumen is essential for sales success, and incorporating humor can help sales reps develop a deeper understanding of their target audience. Humor can build trust, break through the noise, and evoke emotion in sales and marketing.Understanding the buyer's challenges and being able to have meaningful conversations is crucial in consultative sales.The biggest problem in business is the increasing dependence on screens and the lack of human communication.Companies should prioritize genuine interactions and get back to basics.Incorporating humor into messaging and sales strategies can help companies stand out and connect with prospects. Takeaway Quotes from Jon Selig "This connection request is colder than a manufacturing sales exec's sweat during unplanned downtime.""The process of crafting humor to specifically make your target persona smile will force your reps to master the business acumen they need to increase their subject matter expertise.""Humor is empathetic, it connects with the audience.""When it's packaged up properly, there's an element of surprise.""Humor helps build comfort and rapport, breaks through the noise, and evokes emotion." Check out Jon's website LinkedIn: Jon Selig and Ed Marsh  Twitter: Jon Selig and Ed Marsh Instagram: Jon Selig and Ed Marsh YouTube: Jon Selig and Ed Marsh    Show Transcript    Chapters 00:00 B2B Sales: More Work, Less Amusement 09:29 The Overlap Between Comedy and Sales 16:07 Crafting Effective Cold Openers 29:58 The Importance of Genuine Interactions 39:56 Incorporating Humor to Stand Out 49:52 The Psychology of Humor 01:00:07 The Process of Incorporating Humor 01:09:56 The State of B2B Sales and Marketing 01:18:32 Wrapping Up / Just Getting Started   #HumorInSales #HumorAndSarcasmInSalesCalls #HumorInSalesCalls #HowToUseHumorInSales #SalesJokes #UsingHumorInSales #SalesHumorJokes #JonSelig #ProspectingTips #Trust #B2BSales #IndustrialSales #SalesProspecting #TradeShows #EdMarsh

Kathleen Booth on Professional Communities and Marketing and Sales Alignment - Industrial Growth Institute Podcast Episode 12 Summary In Episode 12 of the Industrial Growth Institute Podcast, host Ed Marsh and guest Kathleen Booth discuss the role of community in personal and professional development, as well as organizational success. Boil it all down into a couple key quotes that convey Kathleen's commitment to communities: "Community is the new Google." "Community is the roadmap to all the stuff you need to figure out." "Community is the support system for go-to-market executives." "You could have the best Google optimization strategy in the world and you still might not get a chance to even go for that business because you didn't get mentioned in a community." They highlight the importance of having a different perspective and a supportive community to overcome mindset barriers in industrial revenue growth. Kathleen shares her journey from being the founder and CEO of a digital marketing agency to her current role as SVP of Marketing and Growth at Pavilion. They also discuss: the value of community in learning, problem-solving, and finding opportunitiesthe need for continuous learning and the importance of surrounding oneself with smart and experienced individualsimportance of community and continuous learning in the fast-paced world of marketingneed for marketers to surround themselves with peers who are further along and have more knowledge, as well as the value of participating in communities as part of the jobthe rise of AI and the erosion of trust in informationimportance of marketing and sales alignmentneed for a relationship-led approach to marketing. Kathleen shares her insights on the future of marketing, including the emphasis on original research and data, authenticity, and unique points of view. She also highlights the potential of AI and the concerns surrounding its misuse. Finally, she encourages industrials to focus on building relationships, trust, and reducing friction in the buying process. Takeaways Having a supportive community and a different perspective is crucial for overcoming mindset barriers in industrial revenue growth.Continuous learning and surrounding oneself with smart and experienced individuals are key to personal and professional development.Community provides valuable resources, insights, and solutions for learning, problem-solving, and finding opportunities.Community is the new Google, as people increasingly rely on their communities for trustworthy information and recommendations.Being part of a community helps alleviate imposter syndrome and provides a support system for go-to-market executives.Community is essential for staying up-to-date with the rapidly changing landscape of marketing and sales.Community fosters collaboration, accountability, and personal growth, leading to individual and organizational success. Surround yourself with peers who are further along and have more knowledge to keep pace with the fast-changing marketing landscape.Participating in communities is essential for personal growth and staying ahead of best practices.AI has the potential to erode trust in information, and its misuse is a concern that needs to be addressed.Marketing and sales alignment is crucial for revenue growth, and it requires good communication, shared metrics, and a focus on the company's success.The future of marketing lies in original research and data, authenticity, and unique points of view.Building relationships, trust, and reducing friction in the buying process should be the focus for industrials. Takeaway Quotes from Kathleen Booth "Community is the new Google.""Community is the roadmap to all the stuff you need to figure out.""Community is the support system for go-to-market executives.""You could have the best Google optimization strategy in the world and you still might not get a chance to even go for that business because you didn't get mentioned in a community.""AI is great, but it's also very dangerous in the sense that it's eroding our trust." Check out Kathleen's website LinkedIn: Kathleen Booth and Ed Marsh  Twitter: Kathleen Booth and Ed Marsh Instagram: Kathleen Booth and Ed Marsh YouTube:   @EdMarsh    Show Transcript    Chapters 00:00 Introduction and Mindset Barriers in Industrial Revenue Growth 14:50 Kathleen's Career Journey and the Importance of Community 30:13 Pavilion: Serving the Go-to-Market Leadership Team 37:21 The Importance of Community and Continuous Learning 43:54 Measuring Results and Avoiding Infighting 51:42 The Value of Participating in Communities 59:57 Marketing and Sales Alignment: Effective Communication 01:08:03 The Biggest Opportunity: AI and Human Connection   #SalesAndMarketingAlignment #ManufacturingMarketing #IndustrialMarketing #B2BSales #Community #IndustrialSales #ComplexSales #ProfessionalCommunity #CommunityIsTheNewGoogle

Scott MacKenzie on the Business Development Power of Podcasting - Industrial Growth Institute Podcast Episode 11 Summary Scott MacKenzie is the founder of Industrial Talk, an innovative and disruptive business that he founded after taking a company public, retiring, and wanting to do something fun. But the business builds on a crucial discovery he made when he was running a staffing agency. It was a tough, competitive market in which he had difficulty differentiating his offering from others. Until he struck upon the idea of creating a podcast through which he could reach prospects and provide resources for the market as well. Our conversation covers: importance of marketing and media in the industrial sectorScott's journey from a background in operations to becoming a marketing and salespersonpower of content and media in building relationships and trust with customershow he uses media as a prospecting toolScott's super-efficient workflow and automation strategiesimportance of diversifying revenue streamshis business model, including speaking engagements, training, content development, and white-label servicesthe importance of aligning marketing and salesbest and worst practices at trade showshis Superbowl performance!insights into the integration of marketing and sales and the role they play in revenue growthexciting opportunities for business and offering guidance for industrial manufacturers. Takeaways Marketing and media are crucial for industrial companies to build relationships and trust with customers.Content creation and media can be used as effective prospecting tools.Building relationships through conversations and storytelling is key to successful marketing.Efficient workflows and automation can streamline content creation and distribution.Diversifying revenue streams is important for long-term business success.Aligning marketing and sales is crucial for business success.Trade shows require effective follow-up strategies to maximize impact.Content development should be tailored to address customer problems and provide value.The integration of marketing and sales is essential in the modern buying journey. Check out Scott's website LinkedIn: Scott MacKenzie and Ed Marsh  Twitter: Scott MacKenzie and Ed Marsh Instagram: Ed Marsh YouTube:  @IndustrialTalk  and  @EdMarsh    Show Transcript    Chapters 00:00 Introduction and Background 04:15 Transition to Marketing and Media 08:13 The Importance of Marketing in the Industrial Sector 11:18 Shift from Operations to Marketing 16:38 The Power of Content and Media 23:55 Extracting Stories and Getting People to Talk 25:56 Efficient Workflow and Automation 31:47 Diversified Revenue Streams 38:25 Overview of Scott MacKenzie's Business Model 39:18 Speaking Engagements and Training 40:44 Content Development and Industrial Academy 42:46 Best and Worst Practices at Trade Shows 46:07 Maximizing Impact at Trade Shows 48:19 Scott MacKenzie's Hobbies and Fun Activities 51:40 Scott MacKenzie's White Label Services 54:14 The Importance of Aligning Marketing and Sales 56:49 The Role of Marketing and Sales in the Buying Journey 01:00:25 The Integration of Marketing and Sales 01:02:27 The Role of Marketing and Sales in Revenue Growth 01:05:11 Exciting Opportunities for Business 01:09:36 How to Contact Scott MacKenzie 01:10:05 Scott MacKenzie's Guidance for Industrial Manufacturers   #podcast #BusinessDevelopment #Prospecting #LeadGeneration #TradeShows #Broadcasting #SalesLeads #Coldcall #Media #ManufacturingMarketing #IndustrialSales #B2BSales #IndustrialMarketing #Innovation #CompetitiveBusiness #Differentiation