A successful marketer is who uses all the resources available within the organization to get the highest throughput. According to Q4 breakdown, 30% of the market share is taken over by the small business and scaling startups. Surprisingly, these companies have <50 employees working under the roof and 60% of revenue generation is carried out by every individual in the company.
Now, what is that driving factor which gives them optimum result without having Huge resources? How small companies can split half of the market share in almost all the industries by 2026?
Over many years, effective marketing approaches gained a lot of traction compared with other commercial advertisements and marketing techniques. From 2019 financial closing records, Nearly a billion dollars is spent on outbound advertisements and marketing, whereas very little investment from small companies mainly startups.
For instance, let’s look at a successful e-commerce Zappos, where initially they started addressing all the customer concerns using social media and used the feedback loop to accumulate new attractions to the users. This work-flow is implemented by a team of ‘ 7 ‘ and their conversion rate increased to 120%. Similarly, ZOHO as Smart CRM reigned to top players in the industry with just a team of 11 and many more.
From my research, I have figured out a pattern that is unknowingly worked out for many companies and could be exploited if properly executed.
As I recall from my past experience every employee in a startup is exposed to all types of work irrespective of their field of expertise. Now, this has been a trend to create transparency and to give ownership to all employees. Since 2012, startups and small businesses started hiring people who can easily mold themselves into pretty much everything, this is when it all started.
Marketing with Designations. . .
Over the course of time, designations in a company gained more credibility in the field of marketing and some of the companies started exploiting it by various approaches using every individual having different designations. Now, let us see how every individual can market and sell themselves in this competitive world.
Marketing with CEO
Introducing the product:
A CEO of a company is one who knows inside out of the product and can give clear gist of what is the product is all about. So, some of the successful companies like tesla, JPMorgan started branding their product with the CEO face as now Business isn’t just B2B or B2C anymore, It is H2H Human-to-Human. Human connection is often influential in building trust when a CEO acts as though a leader, it provides value to an audience. CEO can talk about their business in interviews while sounding organic and contextual rather than seeming like a put-on.
This is the best way to promote a brand using CEO face as in recent years most of the target audience is actively participating in social campaigns and online promotions, So comparatively social promotions will make users engage more with the posts, videos having CEO visible can build trust factor to improve the credibility of the product.
Marketing with CMO
Building strong relations with the customer:
CMO’s are referred to as money badgers in a company, as they know how to figure out to reach the right customer and convince them into liking the product by showing the need. Many of the companies make use of these related designations while running email campaigns with contact details which helps customer to directly get in touch with the product expert. In my recent campaigns running with similar frameworks helped me get more replies compared with my old campaigns.
Fishing the right target audience:
Often CMO’s make connections with all the decision-makers from various companies spread across different industries, the reason for this is to share the critical product insights with market players and make them believe that they have the best product out in the market. This approach can help build buzz among the people in different organizations as word of mouth and word of credibility, With this, we can effectively reach our target audience without any roadblocks.
Marketing with Marketers
Getting the product out into the market:
This is one mail bottleneck with the marketing strategies which fails dramatically without proper use cases and estimation of the trend in the market. Frequently marketers try to release the product for all the users without having targeted user-base, this will lead to a stagnant point where the product will no longer be a necessity to the users. So, always marketers have to understand what type of audience will buy their product and how to target them directly with the product release. Similarly, the interations of new features will be implied with a separate set of the target audience to estimate the growth opportunities.
Figuring out the right channels for good returns:
Currently, the internet has become a digital library where users can find and learn anything. Also, connecting with people having similar interests has become more like a habit using various social channels, till date there are thousands of online platforms and application where people can network with the fellow audience. Understanding this data helps you to identify the right channels for you to market your product and get customers liking the product. Running multiple sets of campaigns using different user personas will make targeting the right prospects simpler.
Marketing with sales
Enhancing marketing with competitor information: Whether in a CRM or via email in specified fields, marketers value any data you can learn from prospects about competitors. This information will help marketing to reflect what is happening in the marketplace from future brand changes to competitive reasons you may have missed a sale. It will also help to prioritize future products in product marketing
CRM Insights: While it can take time to read through and populate many questions in a contact, account, or sales record, the fields in a CRM system have been created because someone finds the answers useful. Try to be as precise as possible when filling in data and try to fill as many fields as possible, even if not mandatory, because advertising should segment and connect with pros.
There are many creative approaches to market a product with having fewer resources, they are a much more constructive plan of action for optimum results. Exploiting this designation marketing will help the company to boost its brand dramatically.