We can simplify product/market fit to mean the following: the degree to which the product being sold satisfies market demand and customer needs.
There has been some discourse on whether there should be a chief marketing officer at the organization's top levels. The role became popular in the mid-'90s but has seen companies shy away from the role. The role still exists or has been rebranded to "Chief Growth Officer" or "Chief Brand Officer" or other hot button name. Coca-Cola recently brought back the role of CMO, citing that marketing aligns with its goals rather than growth.
“Startups occasionally ask me to help them evaluate whether they have achieved product/market fit. It’s easy to answer: if you are asking, you’re not there yet."
Your Business Needs Product/Market Fit to Succeed
Product/Market Fit is a concept in the business world that can help organizations supercharge the relationship between their business, their products, and the customers that buy them.
Product/Market Fit is an important factor in your business’s success
The process of achieving the right product/market fit can be tricky, considering there are various steps that go into attaining it.
Defining Product/Market Fit
As the person in charge of running and scaling a business, you want to ensure your products and services are in demand. Ideally, your company launches products that fulfill a need or solve a problem that troubles your chosen market; therefore, becoming a necessity to your audience.
Previous economic recessions like those of the 1980s and 1990s were called business cycle recessions. The world economy faced inflation, central banks increased interest rates, and investments were low. The global financial crisis of 2008 led to a depreciation of the US mortgage market that led to a banking crisis.
As entrepreneurs, we encounter endless opportunities and possibilities to innovate the way we run our businesses, the way we create, manufacture, and present our products and services, and the way we interact with our customers.
A landing page is a web page designed to attract the consumers who are in the market for the product or service your business offers. Also known as a lead capture page, landing pages are the web page a user "lands on" after clicking on an advertisement or social media post.
At its core, a lead magnet is a marketing tool used on landing pages to generate more leads. In digital marketing, lead magnets are also known as opt-in offers, freebies, gated content, or content upgrades, among others.
If your organization is investing resources on advertising and lead nurturing to increase its lead conversion rates, this article is for you.
Defining a lost lead
A lost lead is one that has stalled in your lead nurturing process and has not converted into a sale yet. This often means they are not opening your emails, or they recently unsubscribed from your email list.
Why the Lead Capture form is essential to your business
The lead capture form is essential to any B2B’s lead generation efforts. They serve an important purpose: to invite your site visitors to provide their information in exchange for a helpful piece of content, a quote, a free demo, or free trial.
The truth is that today’s online business landscape is more competitive than ever before. Multitudes of businesses all compete to generate quality leads. Therefore, to grow your business, you need to earn your audience’s attention.
Throughout this report, you'll see that manufacturing marketers have become more strategic with their content marketing approach, are more effective in distributing their organization's content, and face fewer challenges when attempting to communicate more complex ideas to their audiences. While there have been improvements like these, only 40% of marketers are strategic about the content they create and target their content for specific stages of the customer journey.
Today, I have our eighth work from home tip, and that's setting up a Zoom Happy Hour with you and your team.
Today, we will be talking about our seventh work from home tip, and that is setting clear expectations between manager and employee. Remember that it’s a partnership. It’s a two-way street. Both the manager and the employee or the individual contributor need to agree on the same set of expectations going forward.
Today, I want to share with you my sixth work from home tip, and that's to have dedicated meeting time with your team, especially working from home.
Today, I will share with you my morning routine as our third work-from-home tip. Now I did some research for this video, and there are a variety of things you can do in the morning. I found an Inc.com list of 50 things you can do this morning, but to keep it simple, I will just share what my actual morning routine is.
Today, I will talk about my work at home setup. Now, this is a long-term setup, and I think it’s great. Even if you work from home one day a week or perhaps even less, I think it’s great to have an ergonomic at-home set up.
On Our Working from Home series, tip number two is checking your internet bandwidth. Now we will be doing much work from home, but we will also be doing many meetings as well. That could use much bandwidth on your internet if you are not careful.
Today, we are going to be doing a hands-on session like we did last week. We will be talking about how to create the perfect blog post using the HubSpot CMS. Now we’re not in the HubSpot CMS right now.
Today, we will be talking about how to create compelling content using Moz and BuzzSumo for engineers and scientists. Now, the best writing is found in the structure, planning, and research, not a shot of brilliance or inspiration.
Today, I’ll show you how to create compelling content by using competitive research easily. We have created 25 blog and case study posts in the past half a year employing these strategies. Writing compelling and convincing content starts with proper research.
Now, writing outstanding content is a choice. You have to put in the time, money, and work to build a great brand that attracts prospects, or you can choose the easy path and write poor content. That will waste time, resources, and money writing.
Today, we will be talking about the Hero’s Journey, and how having a core message and ideal buyer persona will take your firm’s growth to the next level. Your core message covers why your customers want to work with you.
How do you source and share great content on social media? I will show you how to in this guide and share some of the tools we use. It needs to be content that your audience will like, comment, and share with their followers, which will expose your brand to a broader audience.
Did you know that 59% of businesses don't have a documented content marketing strategy? However, 69% of the most successful marketers have a content marketing strategy that works according to Content Marketing Institute and Marketing Profs.
Search engine optimization gets thrown around a lot nowadays. For many technical service business owners, SEO may mean it is a technical term for marketers or it’s an enigma that can be solved for enough time and manpower.
SEO means that you've optimized your entire website's content so that the Google algorithm can index the pages and show your website’s content in search results. You use keywords and long tail keywords to describe the service or product you sell. Or better yet, tell what problem you solve for customers. And you would do that all on your website.
Marketing and sales are two different departments.
But they have a closely intertwined connection.
Today, I want to talk about the importance of having a content calendar. Did you know that according to the Content Marketing Institute, 89% of B2B companies incorporate content marketing into their overall marketing strategy? A more recent study found that only 41% of those companies have a documented content strategy. Well, that number is, isn't itself a bit scary. The fact is is that those marketers who considered themselves successful are 40% more effective than those who don't have a plan.
Today I want to talk about the top 10 marketing platforms and tools you need to know about in content marketing going into 2020. Remember, content is part of the client buying process. You're moving your prospective clients from awareness stage to consideration to decision to post-decision and purchase stage. You can click on the client buying process blog for more info.
According to the Content Marketing Institute, "Content marketing's purpose is to attract and retain customers by consistently creating, curating relevant and valuable content with the intention of changing or enhancing a consumer's behavior. Remember that it's an ongoing process that's best integrated into your overall marketing strategy, and it focuses on owning media, not renting it."
Today, I want to talk to you about the top 2020 B2B marketing trends in content marketing. I want to specially thank the Content Marketing Institute, Marketing Profs and Sitecore for putting together this report. I will be sharing the contents of the survey and the report. You can consult Marketing Profs' 2020 Manufacturing Content Marketing survey results here.
Today, I want to talk about the top five mindset blocks of scaling your business from zero to a million dollars. Now, as engineers and business owners, it's sometimes hard to invest in coaching or invest in your website or decide to invest in even some sales coaching. But I find that the coaching and especially for therapy for me has been very helpful in overcoming these mindset blocks. It has been helpful in investing in my business to get to the next level. Now these are the top five mindset blocks.
Customer and client review websites are increasingly important as more consumers use the internet to find businesses. According the BrightLocal Local Consumer Review Survey, 54% of consumers ages 18-34 use the internet every day to find businesses. That means decision makers are doing initial market research on your B2B brand before picking up the phone or forming a relationship with you.
I would like to talk to you about defining the customer value for your B2B technical services business. Finding your customer value is incredibly important because you can get the prices you want for your product or service, and not get negotiated down or discounted on your product or service.
Whether you are in healthcare, engineering, science, or energy, there are top review sites to be on. So before we go dive deep into that, customer reviews are a way to get feedback. It is based on a customer's experience with the organization. Now these reviews could be public or private and they can be collected by the company or posted on third party review sites.
Every interaction your client buyer persona has with your business should be where they are at in the buyer’s process. You need to provide the structured guidance and value they need at their point in the buyer’s process.
According to the inbound methodology you need to attract, engage and delight your prospective clients and current clients. Meet where your clients are, and reduce the friction leading up to making a purchase. Build trust, be human, and helpful. Personalize your prospect’s experience across sales, marketing, and service.
What is your ROI on your marketing and sales efforts? If you have a call center working for you and what is the ROI on that? So what is the return on investment for marketing and sales for you? So let’s cut straight to the chase. A good marketing ROI is a ratio of 5:1.
We are going to talk about the total online presence audit. If you're trying to figure out why you're not generating leads from your website or if your competitors are gaining key keyword advantages on Google,whether they're in Google ads or on the first page of Google.
What is niching? It doesn't matter what stage of business you're in--whether you've had your business for one year or five years or 10 years or 20 years. I think you could still benefit from niching down.
Today, I'd like to talk about why you need marketing in your MSP. I understand a lot of MSPs have a very robust sales tea
m and do most of their selling via direct sales. But since you have a website, you have all of these other resources available to you to get the most out of your sales team's time.
A buyer pesona, or your ideal client, is absolutely necessary before you create any piece of content.
I'm talking about before doing any email sequences, LinkedIn outreach campaigns, and blogs, know who your ideal client is.
For us in the IT managed service provider space, it is the top three decision makers at an MSP.
What are the top seven components of an MSP website that converts leads? We decided to pick Qlik as our ideal website. Now Qlik is actually a business intelligence software, but I really liked their website and I think their site architecture can help MSPs as well.