SGFI 20th Aug Marketing & Sales - Kris Childress
-
Upload
founder-institute -
Category
Documents
-
view
219 -
download
0
Transcript of SGFI 20th Aug Marketing & Sales - Kris Childress
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 1/24
Customer/Market Engagement
Kris Childress
The Founder Institute
20 August 2013
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 2/24
Mythbusting• Myth #1: “Customer is always right”
Reality: customer is often wrong but he/she has themoney – respect but don’t fawn
• Myth #2: “Cheaper is always better” Reality: cost and value a complex interplay. Cost notthe only variable.
• Myth #3: “Customers are not always rational” Reality: actually, this is true. Customers makedecisions for a host of “irrational” reasons that theythen rationalize.
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 3/24
Reality
“Nothing Lives In A Vacuum . .
. Especially Marketing”
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 4/24
Missing the Mark
• The Greek word “hamartia (ἁμαρτία)” or “sin”means, literally, “to miss the mark” as in an archermissing his target – not hitting the bulls eye
• A major “sin” in marketing is “missing the mark” bynot understanding customers’ needs and motivations
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 5/24
Understanding first
• Who is your customer . . . EXACTLY?
• Consumer: age, gender, income,education,ethnicity, values, marital Status, # of children, etc.?
• Business: size, age,sophistication,products/services, etc.? WHO withinorganization?
• All - what is the buying process/cycle/time?
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 6/24
Case History: CEM COrp.Understanding Your Market Can Divert Disaster
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 7/24
CEM Corp: The Company
CEM was started in the US in the late 70’s by achemist & two engineers
CEM is “the world's leading provider of innovativemicrowave systems and solutions for critical
laboratory applications”
The original product was an automated microwavethat rapidly weighed, dried, and reweighed a
sample to measure the percent moisture/solids
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 8/24
The CEM Challenge Pt 1
The CEMAVC-MP, the
original“automatedmicrowave
moisture . . .
analyzer”ran a test in
<5 min.
Traditionalmanualthermal
gravimetric(weigh-dry-
cool-
reweigh)method =1-4 hours or
more
The firstAVC costaround
US$10K (in
1981!).
In 1981 – I joined – CEM selling
mostly to
labs
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 9/24
The CEM Corp. Challenge Pt
2Slow Early Sales - Lab managers often
resisted buying CEM’s analyzers because:
Labs preferredbatching
dozens of samples at a
time
CEM analyzerswere
“expensive” andrequiredconstantattention
CEM was not an
“approvedmethod” – not“official” results
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 10/24
Digging for The TruthTalking with the few buyers showed that:
Generallybought byproduction –
not the lab
$$$$$ justification
Value NOT labefficiency. . . but
timely data toinform CRITICAL
ACTIONS
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 11/24
What Was the Problem?
Simple
The Wrong Value Proposition
to the Wrong People
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 12/24
CEM Success
Story
Paper plant stopping coating machines for anyreason -> 30 minute solids test on the liquidcoatings before restarts.
Downtime was about $1,000 an hour.
CEM test = 2 minutes . . . paid for itself in a week.(The plant later bought two more).
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 13/24
CEM Marketing/Sales
Approach
OLD
Faster analysis =greater labproductivity/efficiency/flexibility
Who? – Labmanager/QC
NEW
Faster analysis =“real time” info tosave or makemoneyWho?- LineManagement
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 14/24
Moving AheadBusiness Model Canvases and a Whole Lot More
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 15/24
What Your Canvas Should
Look LIke
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 16/24
Your Canvas
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 17/24
Before you canvas• Research your
prospective market(s)
• Talk with
knowledgeable folk
• Think very hard about
where to start
• But don’t delay too
long “getting out of the
building”!
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 18/24
Critical questions
• Has anyone tried thisbefore?
• If yes, what happened?
• If no, why not?
• Is there a similar businessout there? What can Ilearn from it?
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 19/24
Critical Questions Pt 2• Focus on the
problem/pain/desire.
(MVP).
• Innovate around
failures.
• Look for “gaps”.
• Think the customer
experience through
from beginning to end
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 20/24
Test with “Real Stuff”
• Move to “Showing”/”Experiencing” not just telling
• Make the experience as REAL as possible
• Let the interviewee talk (don’t guide too much!)
• Be creative
• Record reactions where possible, ask if you can
share.
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 21/24
Creative Interaction
• Startup was proposing an
interactive computer
program for senior centers
• Did not have “touch” screen
• Simulated touch screen onmock up with assistant
using mouse to track finger
movements
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 22/24
Understand Customers
What do your customers want? – Listen
Do you have successes? – Understand Why
Do you have failures? – Understand Why
Where do your potential customers meet? – Go there
What do your potential customers read? – Read It
What are their motivations? – Ask Questions AND OBSERVE
(what keeps them awake?)–
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 23/24
Bonus: Three Things to Do
• Find and join any LinkedIn group(s) in your domain
• Identify 3 trade groups in your domain, if possible• Subscribe to (at least) three news feeds in your
domain (Google Alerts can be one)
7/30/2019 SGFI 20th Aug Marketing & Sales - Kris Childress
http://slidepdf.com/reader/full/sgfi-20th-aug-marketing-sales-kris-childress 24/24
Thank You ~
Questions?