WINNING THROUGH DIFFERENTIATION AND TARGETING [INBOUND 2014]
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Pricing your agencies services is part science, part philosophy. List your prices too low and your margins take a hit; too high and the competition undercuts you. Does publishing pricing of your services limit the value your agency can deliver? This session, led by HubSpot’s Partner Program VP Arjun Moorthy, will help your agency build a sustainable strategy around not only about how your services are priced, but how you position and calculate the value and ROI of your work in marketing collateral and the sale process.
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WINNING THROUGH DIFFERENTIATION AND TARGETING [INBOUND 2014]
- 1. #INBOUND14 Winning Through Differentiation & Targeting How to define and target your Agency’s unique expertise to drive higher margins and faster growth Peter Caputa IV – VP Sales, HubSpot David Weinhaus – Channel Account Manager, HubSpot
- 2. While most agencies preach differentiation, most act like commodities. -Tim Williams Author: Building a Great Agency Brand #INBOUND14
- 3. #INBOUND14 1 THE PRESENT & FUTURE OF DIFFERENTIATION
- 4. #INBOUND14 SEO RSS Widget marketing HubSpot: Circa 2007
- 5. Certified/Tiered #INBOUND14 Inbound Agency 2007 HubSpot Partner 2010 HubSpot Partner 2012
- 6. #INBOUND14 What Differentiates You from the Rest? Packaging services Delivering ROI Strategy Switch to retainers Improve cash flow More revenue / client Retention & scale Benefits 2000+…
- 7. #INBOUND14 Present Future Packaging services Switch to retainers Delivering ROI Strategy Improve cash flow More revenue / client Retention & scale Benefits Unique Expertise Improve close rates Higher margins Faster growth 1 out of 2000+ 1 of a kind
- 8. #INBOUND14 5 Killer Targeting Mistakes an Agency Can Make
- 11. Targeting Mistake #1 “(Only) Following Your Passion”
- 12. #INBOUND14 Keri LaRue has wanted to target and differentiate more
- 13. #INBOUND14 Keri has always dreamed of working in the wine industry
- 14. However, she realized it was not right for her targeting #INBOUND14 + • Not enough experience in the industry • Not willing to ‘start over’ • Favors other industries for inbound retainers
- 15. Key Takeaway #1 #INBOUND14 To target effectively, don’t rely on passion alone.
- 17. #INBOUND14 What’s your targeting strategy? With… - Inbound - Website design - eCommerce services - Sales & Marketing alignment Using - HubSpot - Wordpress - Magento - Salesforce Well, we could target… - Manufacturers - Professional Service Companies - Technology Companies - Consumer Services This is not a targeting strategy!
- 18. Targeting Mistake #2 “Not Focusing Your Targeting”
- 19. #INBOUND14 First, identify your possible target niches Who Segment What How Service Technology
- 20. #INBOUND14 Here are some of Keri’s possible target niches… Service Inbound Inbound Social Media Segment Enterprise Hardware Storage Health & Wellness Benefit Services Wine Market Technology HubSpot HubSpot Hootsuite/ Facebook
- 21. #INBOUND14 Now what to do?
- 22. #INBOUND14 Prioritize using the 3 P’s Profitability Proficiency Passion
- 23. #INBOUND14 Profitability Where do Profitability Proficiency you have passion and interest? Passion What is the likely profitability of the niche?
- 24. #INBOUND14 Calculating profitability Profitability http://bit.ly/ We’ll share thep rloisnpekct faitmta ttrhix e end
- 25. #INBOUND14 Proficiency Where do Profitability Proficiency you have passion and interest? Passion What is the likely profitability of the niche? Where have you had success? Who do you know?
- 26. Consider listing out your accounts and looking for patterns Where do you have passion #INBOUND14 What is the likely profitability of the and niche? interest? • Where have you had success? • Who do you know?
- 27. #INBOUND14 Passion Profitability Proficiency Passion Where do you have passion and interest?
- 28. Here is how Keri scored her possible niches #INBOUND14 Service Inbound Inbound Social Media Segment Enterprise Hardware Storage Health & Wellness Benefit Services Wine Market Technology HubSpot HubSpot Hootsuite/ Facebook Profitability 5 3 2 Proficiency 4 2 2 Passion 3 5 5 Sum 12 10 9 We’ll share the link to a blank template version at the end
- 29. Keri is now prioritizing Enterprise Storage companies #INBOUND14 + =
- 30. Key Takeaway #2 #INBOUND14 Focus and prioritize for targeting success
- 32. #INBOUND14 At what level should I target? • B2B • Industrial • Industrial Distribution • Industrial Food Equipment Distribution More Broad More Specific
- 33. Targeting Mistake #3 “Going too Broad”
- 34. #INBOUND14 At what level should I target? • B2B • Industrial • Industrial Distribution • Industrial Food Equipment Distribution More Broad More Specific Answer: • Where can I best compete? • What positioning is compelling? • …while the market is still big enough
- 35. Greg Linnemanstons went more specific “First, we were going to focus on B2B and Professional Services, but we quickly realized they were too broad to be meaningful. We ultimately decided to focus on types of industrial distribution companies and capital equipment manufacturers. Now when we go into meetings we feel like we own the room because we have the exact knowledge they are looking for” #INBOUND14 Greg Linnemanstons Weidert Group, Inc.
- 36. Key Takeaway #3 #INBOUND14 Don’t go too broad when selecting a niche—be thoughtful about the right level of targeting
- 38. Have you ever felt these concerns about targeting? • I don’t want to turn off prospects who aren’t in my target niche • I’m not ready to commit - I want to keep my options open #INBOUND14
- 39. Targeting Mistake #4 “Not focusing at all for fear of being ‘boxed in’”
- 40. There are some agencies that have embraced a full-on targeting approach #INBOUND14
- 41. Spot On Agency takes an ‘additive’ approach #INBOUND14
- 42. #INBOUND14 Does HubSpot Target?
- 43. Key Takeaway #4 Your targeting can be additive to your existing programs—it does not need to “box you in” #INBOUND14
- 45. Targeting Mistake #5 “Not getting started”
- 46. #INBOUND14 3 Steps to Get Started 1. Select a target niche (using the 3 P’s) 2. Gather a list of target accounts 3. Run an Inbound Sales and Marketing Campaign
- 47. Trent Dyrsmid is targeting and has selected target accounts • Targeting VARs of a large technology company • Has gathered a list of 100 target accounts #INBOUND14
- 48. Trent uses a combination of content, social, email, and phone 1. Invites to connect on LinkedIn 2. Emails invite for a pre-interview on Trent’s podcast (if their site rocks) #INBOUND14 OR Email shares one tip to improve conversion (if their site doesn’t rock) 3. If no reply, send email with tips and follow up with voice mail 4. Call twice more without leaving a message 5. Email additional helpful information such as ebook and/or marketing grader 6. Email polite break up email We’ll share a link to Trent’s prospecting approach at the end
- 49. Key Takeaway #5 Don’t wait to get started. Select a niche, pick some targets and get a campaign going. #INBOUND14
- 50. Summary – 5 killer targeting recommendations #INBOUND14 1. Don’t follow you passion alone 2. Focus and prioritize your targeting 3. Go specific when selecting a target niche 4. Target additively to avoid being ‘boxed in’ 5. Get started now!
- 51. #INBOUND14 Coming in 2015... Sign up to be notified - http://bit.ly/sgc-notify-me Signing up gets you the links to resources referenced in today’s session