1. Lack of The Right People
A good number of organizations buy off on technology without any forethought or planning with regard to the people part of the equation. This is more than just getting someone trained on the functionality of the solution. In today's B2B market, you need someone who knows marketing strategy, understands the buyer, and thinks about marketing and sales as a process. In addition, they need to view and understand how technology supports this process. In other words, you need a B2B marketing expert, not just a marketing staffer who knows which buttons to push.
Before selecting a marketing technology solution, do an assessment of your people to ensure they have the following characteristics:
2. Buying Into The "It's So Easy" Sales Line
Many vendors are out there proclaiming how easy it is to implement their Marketing Automation or CRM technology. Offers such as "Try us for Free for 30 days", or promises like "You'll be up and running in less than 5-days" make one think that marketing and sales technologies are simple plug and play tools. However, if marketing and sales in the ever-changing B2B world requires diligence, process, and a well developed strategy, then what makes anyone think that implementing marketing or sales technology would be any different? Unfortunately, too many B2B organizations are falling for these empty promises, investing significantly, and ending up with a return of unrealized expectations.
To avoid this trap, it's imperative to understand that "simple" and "easy" are not necessarily the key identifiers you should be looking for when shopping for marketing and sales technologies. Instead, first make sure that you have a sound strategy for engaging with your buyers at a 1-1 level. Once that strategy is in place, then look for technologies that will enable you to best execute and build an engagement relationship based on your strategy. Taking this approach is not easy, but if you truly want to get the most from your marketing and sales technology investment, a buyer engagement strategy is the best approach.
3. Irrelevant Content
With the number of messages that are thrown in front of buyers each and every day, it's a shame to think that many organizations are still not paying more attention to their content.
A recent Landing Page Study conducted by Silverpop found that up to 50% of readers will leave a page within 8 seconds. Why? Because the content on those pages isn't relevant and it does nothing to engage them in wanting to learn more about the product or service being promoted. Timely and relevant content is a key to successful relationship marketing. If your message doesn't resonate with your buyer, they'll move on to the next vendor until they find one with whom they can relate.
In order to address this issue, develop a content map that defines the buying cycle of your customers. Then (in collaboration with sales) determine what content should be delivered along each phase of the buying cycle. Some of this content will be delivered by marketing (early on in the cycle via marketingautomation) and some will be delivered by sales (later on in the cycle via integration between CRM and the marketing automation system). Developing a content mapping strategy is the best way to ensure you are building the necessary relationship with your buyer. For most organizations this will mean having to develop new content. If you don't know what content to produce, go to your buyers and ask them what is most important to them. Believe me, they'll tell you if you ask.
4. There Are Serious Data Issues
The level of bad marketing and sales data in most organizations is quite staggering. Yet, it's one of the greatest obstacles to marketing campaign success and ROI. Often, the fallacy is that because there is a marketing automation and/or CRM system in place (and the two are integrated), the data will be maintained and kept valid. Nothing could be more false.
As posted on the Reachforce blog- SiriusDecisions states, "The company that markets with a healthy data-cleansing routine can realize nearly 70% more revenue than an ‘average' organization, based purely on data quality." In another study, MarketingSherpa found that 2.1% of contact data goes bad every month. This means each year over 25% of your contact data gets dirty.
These comments and statistics only underscore the need for organizations to develop and implement a data management and hygiene strategy. This includes processes for data validation, data segmentation, data standardization, de-duplication rules and data control. Without good data, marketing and sales activities will be severely limited and the chances for any kind of return will decrease dramatically.
5. There is no Defined Process
In a recent study conducted by Frost & Sullivan 44% of those polled said the biggest obstacle to success with their marketing automation platform was a lack of process. The lack of process is not solely a marketing automation problem. It also bleeds into the sales realm negatively affecting the value companies are getting from their CRM solutions.
According to Aberdeen, "Developing an internal lead management process is key to marketing & sales success". Notice they did not say it was technology that was most important, but process. Yet company after company continues to buy CRM and marketing automation as an answer to their problems and are surprised when it ends in failure.
One of the biggest mistakes that businesses make when it comes to their CRM software is the features they don’t use. This happens because they invest in CRM with a handful of problems in mind, so they’re content as long as it solves them. But if you want to maximize your ROI, you should be utilizing every feature available to you. more
Would you believe that 89% of businesses expect to compete primarily on customer service in the upcoming years? With that in mind, it’s no surprise that CRM software is becoming such an integral part of business operations. But not all solutions are created equally, especially when it comes to the value they deliver to your business. more
There’s some big things happening with CRM software that you should to be aware of. Technological advancements and changes to business processes have led to developments and new features that are making CRM more valuable than ever. Things like mobile capabilities and greater integration with other software are at the front of this progress. more
A good SMB CRM system can be an incredibly valuable asset for your business. As more businesses recognize this value, the amount of SMB CRM vendors is expanding quickly. Navigating the pricing plans, features, and service terms of all these can be a decision-making nightmare. more