Fractional CMO Newsletter – May 2017

Marketing is a Contact Sport 

Ultimately, the purpose of marketing activities is to create or identify qualified leads. And by qualified leads, I mean people who are interested in your product or ideas, or whatever it is you are marketing to them.

To do so, marketers devise all sorts of ways to contact the potential leads, both directly and indirectly. We must contact our audience in order to convey the message, to present the features and benefits, and convince the audience to want what we have to offer.

More often than not, these are multiple contacts or “touches”. Many people under-estimate the number of touches required to turn a ‘suspect’ (the individual we target) into a qualified lead… and certainly the number of touches required to turn that person into a customer.

Studies have shown that 15 or more touches are very common to take place, before a person makes a purchase decision. The touches are a combination and a sequence of both marketing approaches and sales contacts.

Counting or tracking the number of touches, is not always easy. As a matter of fact, in some cases and for certain product categories it is nearly impossible to get an exact count. Nevertheless, you should attempt to estimate the number of touches it takes for your customers to become ones – you might be surprised how many contacts it takes!

After you estimate the number of touches it takes to turn someone into a customer, attempt to find what specific marketing and sales activities are the most effective ones (see ‘attribution’ below). Knowing what activities are most effective will help you better utilize your resources.

For marketing and sales efforts that yield results, I urge you to build a marketing plan made of many contacts (or touch points) over long periods of time.

duke
Duke Merhavy, MBA, Ph.D.
President & Chief Marketing Officer
“Working with Fractional-CMO has been both enjoyable and a success. Their ability to analyze our business needs and implement change has proven beneficial for our company. They take time to understand the ins-and-outs of our business and is always thinking of ways to contribute in a positive way.

We would recommend Fractional CMO to anyone who wants to improve their marketing efforts.”


Rudy Troisi, President and CEO
Reliable Background Screening



What Is Fractional CMO?fractional cmo

Hiring a full-time CMO (Chief Marketing Officer) or your own marketing department is often not cost-effective for most small-to-mid-sized businesses (SMBs). We offer SMBs senior-level expertise, experience, and a holistic marketing approach, on a part-time basis for a fraction of the cost.

Fractional CMO is dedicated to your success, and our mission is to turn your vision into reality. Click on the short explainer video to the right for a quick explanation.


Customer Testimonials – Best Practices

How to Conduct Them

  • Prepare questions ahead of time, but be prepared for the conversation to take a different direction
  • Schedule a phone call in advanced
  • Ask permission to use quotes and names it your marketing efforts
  • Choose well-recognized customers whenever possible
  • Use a 3rd party to conduct the interviews whenever possible (to eliminate your bias and your customer’s apprehension)

Why Ask for a Testimonial

  • Showcase success
  • Provide examples of how the product is being used
  • Gain insights into your company’s performance and reputation
  • Find out what promotional efforts are working
  • Gage the perception of your product and service quality
  • Understand your customers’ needs and preferences better
  • Learn more about your industry and competitors
  • Improves conversions rate due to the believability and credibility of real customers

How to Use Testimonials

Use testimonials in a variety of communication activities including:

  • Email campaigns
  • Newsletters
  • Website pages
  • Blogs and articles
  • Whitepapers
  • Product packaging
  • Social media posts
  • Proposals and quotes
  • Invoices

Marketing Lingo: “Marketing Attribution”

The process of identification and assignment of ‘credit’ (importance or contribution) to the marketing touch points that a customer was exposed to prior to their purchase decision or other desired action.
‘Marketing Lingo’ is a regular column in which we define, or otherwise explain, terms often used in marketing but not necessarily correctly or properly by some


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