In this episode, we’re discussing the importance of hashing out a strategic gameplan for your B2B marketing efforts.
We ask questions like: What are the key elements that should be included in a strategic marketing gameplan? What is a market opportunity analysis and why is it so important? And how do you strike the right balance between personalized communication and scalable approaches when it comes to B2B spaces?
Joining Dani to answer those questions and more is John Lenker, Founder/CVO at Lenker.
John shares a ton of great insights, like:
In this episode, we’re discussing the importance of hashing out a strategic gameplan for your B2B marketing efforts.
We ask questions like: What are the key elements that should be included in a strategic marketing gameplan? What is a market opportunity analysis and why is it so important? And how do you strike the right balance between personalized communication and scalable approaches when it comes to B2B spaces?
Joining Dani to answer those questions and more is John Lenker, Founder/CVO at Lenker.
John shares a ton of great insights, like:
Welcome to the LeadG2 podcast, the show dedicated to helping sales organizations grow. Each week, host Dani Buckley discusses proven B2B marketing and sales strategies and real life examples for experts and thought leaders from across industries. In this episode, we're discussing the importance of hashing out a strategic game plan for your B2B marketing efforts. We ask questions like what are the key elements that should be included in a strategic marketing game plan? What is a marketing opportunity analysis and why is it so important? And how do you strike the right balance between personalized communication and scalable approaches when it comes to B2B spaces? Joining Dani to answer those questions and more is John Lenker, founder CDO at Lenker. John shares a ton of great insights like how there must be a truly compelling reason for people to put their guard down and buy into the solutions you're trying to sell, why follow through and the overall customer experience is often as big a part of the sale as what it is you're actually selling. And, finally, why it's important to recognize and understand what you can truly bring to the table in a business relationship.
Dani Buckley:Hi John, thanks for joining today. I'm excited to jump into some really interesting conversations with you. How are you?
John Lenker:I'm great, Dani. Thanks for having me on your show.
Dani Buckley:Yeah, so we're going to cover a lot of different topics and, to start, just to get everyone a little more familiar with you, can you tell us just a little bit about your specific areas of expertise and also what are you particularly passionate about these days?
John Lenker:I think at the core, the core competency that I have sort of exploited and leveraged across my whole career, is getting people excited about ideas. So we live in an information economy and we all have heard of information pollution, which means we've got a gazillion pieces of information hitting our brains every day and there's a natural defense mechanism that we've kind of put up subconsciously to filter things out. So as salespeople and marketers are out there trying to break into people's consciousness and get some mindshare, people are naturally trying to keep you out and there's got to be a really compelling reason for people to put their guard down and allow you to influence them. And so understanding sort of the psychology of what attracts and forms and invokes people to want to take action, I think it's at the core of just about any kind of transaction we want to do in business in the modern era. So that's kind of where I focus.
Dani Buckley:Yeah, I love that. I think we're going to get a chance to get even more into that. So when you and I talked before, we got into the importance of having that strategic game plan before making any big marketing decisions. Right, we all know that, hopefully, most folks are doing that, but what we do know that some organizations skip this step or they're just not doing it really well. So tell me, tell us, what do you see as some of the very core, kind of like essential elements that should be included when someone's building out their marketing plan?
John Lenker:Sure, well, let me kind of start with sort of the trap that we fall into that creates sort of a difficulty in our businesses, and then I'll kind of give the antidote to that. And I think that the trap that we fall into is a lot of times we get into whatever business we're in because we've got some kind of talent or maybe some technical background Maybe we were an engineer, we designed some things and then we get an idea to go start a business, and so we set that business in motion based on our talent, based on our interest, and we think I'd be really good at that, I can go out and succeed in that. And we get out there and we're like, oh my gosh, I really didn't think this through. Things are not like I expected.
John Lenker:And often in business it's like investing in the stock market, right, when you as just kind of an average person on the street here, oh, you should buy Apple stock right now, hey, that's a real good investment. And then you go and you invest, and then you don't get the gains. And the reason is because you're not a professional trader and by the time you've heard about it on TV or whatever, it's kind of too late. You missed the wave. You got into the opportunity at the wrong time, you didn't do a proper analysis of what that opportunity represented for you and what you could ultimately get out of it from a business standpoint. And in the same way, in our businesses we often fail to do a proper market opportunity analysis when we get into a particular business. And that's one of the things that my company, Lenker, that I founded, and I have three other partners it's one of the things that we work really hard at is helping the clients that come to us really get an honest assessment of the competitive landscape in any given market and seeing how you currently stack up against the competition in the marketplace and understand really what is your reason for being, what is your reason for competing, what is it that sets you apart? Why should people care about you?
John Lenker:And I think that there's very little emphasis put on going through the proper research and analysis and sort of the strategic planning and the kind of game planning out different scenarios and thinking through the if and else is. That would put you in a position to follow a very smart path forward towards achieving your overarching business goals. So I think the the key is you know whatever condition your business is, there's really four conditions you can be in as a business, you can be just starting out a startup, you can be gaining ground, you can be standing still and you can be losing ground. Those are the four conditions you can be in and, depending on the current condition that you're in as a business or even as an individual out there trying to do sales, the prescription for what to do and how to kind of evaluate that moment is a little different. So that's that's kind of a starting point is, you know, kind of get a sense for really where you're at, whether as an individual or as a business.
John Lenker:In my, in my just kind of starting out, I'm trying to create the smartest game plan and, hey, are things going well? It's like, wow, you know, things are kind of work and how can I keep that going? How do I? How do I ensure this growth is systematic and something that I can leverage over time, instead of just kind of some happy accident that's happening now or if I'm starting to stagnate.
John Lenker:You know, a lot of times, businesses that are inherited, or people taking over a business for parents or something you know there's kind of you know you weren't the visionary that started it. You know, maybe the fields got more competitive, margins are getting smaller, you're competing more on price. You're not quite sure how to steer the business into the future, and then there's the losing ground. You're working twice as hard to make, you know, the same kind of margins you were last year, the year before, and you're really kind of in a potentially going into a tailspin suit and you've got to. You've got to kind of turn the situation around quickly. So depending on the starting point that you're coming from is going to kind of determine the nature of the analysis that you do in any given moment.
Dani Buckley:Yeah, I love that. Okay, so market opportunity analysis is very important and I love that you are highlighting, like, some different scenarios right, there's lots of different ways and reasons why you need to do this. So, for those listening, you know how often should someone, certain organization, be doing this kind of thing? Because what I'm hearing is it's not you do it once and you forget about it and never do it again, but like what is a good cadence or what are some key times to know? It's a good time to revisit this.
John Lenker:Well, I would say that you know we actually have different engagements based on that question. So when we are just starting out with a client, we do something called a focus engagement right, it sort of assess the current landscape what are the current conditions and really it's a strategic planning engagement that gets us to the smartest possible game plan to go forward and achieve your goals, and not only that, but to kind of qualify your goals and make sure the goals that you've set for yourself are realistic. A lot of times people don't really think through the financial implications and the capital requirements for goals that they set for themselves, and so we help think that through. And then, once that engagement is done and things get set in motion, you know, sometimes we end up doing kind of ongoing consulting or coaching or whatever the situation calls for, but usually annually we have what we call a refocus engagement where you kind of measure you know what happened over the last year? How do you calibrate and tweak and adjust to kind of keep going forward?
Dani Buckley:Yeah, got it. That makes total sense. So I'm going to transition us from like kind of that, that planning strategic planning stage, which we know is so important, and get a little bit more into the little more tactical and kind of when we're talking about actual like communication and messaging. And a question that I get all the time and we often address it Leigh G2, but I would love to hear your opinion is, and in particular within the B2B space as well, because that's a lot of our listeners here how do we find that perfect balance, which there is not such thing as perfect balance. So no one probably seen my air quotes but that balance between personalized communication, personalized messaging, you know, outreach and things that are make someone feel like you're really talking to them, but also being scalable.
John Lenker:Tell us what you think about that, absolutely Sure, and we can connect it back to the first part of the discussion of market opportunity analysis. Because when you think about it, you know, I think in our kind of pre-recording meeting I brought up an example and I'll bring it up again. So, business to business, I'm going to take the construction industry Okay, and you know we've got some experience in that. So I'll take a company that does cabinet making in the construction industry, okay. So ostensibly you'd think I'm in the business of selling cabinets to general contractors that are going to put these cabinets in buildings and houses and what have you, I'm in the business of selling cabinets in this construction industry.
John Lenker:And the first thing that I would advise somebody to do when they're thinking about how to personalize the communication is to realize that that's really not the business you're in. You're really not in the business of producing and selling cabinets in the cabinet industry, in the construction industry, because you understand that by and large, you are selling to a very specific audience. So let's take the commercial construction audience, all right. So you know you're selling to commercial contractors and you think, okay, great, I've got to go introduce myself to a bunch of commercial contractors and try to get you know, bid invites and sell to them. Buy for me, buy for me, buy for me. That's the message, right? And the thing that you have to understand is you're really not even selling to a commercial contractor. That's not really your audience. Your audience are the estimators and the project managers that work for the general contractor, right? That specific person is who you are trying to engage with and get them to pay attention to you, to get them to care about your message, to care about the ideas and, in this case, what differentiates you, why they should give you a chance.
John Lenker:And so, if you understand what motivates that audience member let's say a project manager they're really not trying to buy cabinets. What they're trying to buy is a completed job that is successful, that their company makes money on, and that means that job's got to be done on time. It's got to be done with as little you change in terms of the scope of what you said the bid was gonna be, and to make that project manager's life A little bit better than what it normally is. If you can give the most seamless communications, the most seamless customer experience, that is what. So if I'm calling on that person and I want them to give me a chance as a cabinet making company. What I'm selling them is you know, hey, joe, if you work with me and my company, we're gonna give you the most seamless experience, the smallest number of hassles, stuff that shows up on time, it's right. The final numbers are gonna line up with the, with the bids, and you're gonna just be happy. You're gonna make your margins. You're gonna feel like you've got a great vendor, that you have a great relationship. You know you can rely on that that company. You call them. They show up, they do what they say they're gonna do. It makes my life just flow Because if you look at that market, that is not the typical experience for a project manager with a commercial general contractor.
John Lenker:The cabinet making companies they work with you know a lot about making cabinets. You know very little about running business general. They know very little about managing project and communicating with businesses that have large scale infrastructure and or charts. And it's flying by the city, your pants. So can anybody deliver a great set of cabinets on time and on budget? Sure, but you're selling consistency, you're selling a relationship. You're selling the key differentiators on time, on budget, but the key one is low hassle for you. You hire us, man, your life is gonna be beautiful and if you understand that's what you're selling, you're selling a profitable business transaction for that project manager and then you get a reputation.
John Lenker:You know the ten other project managers in that that large scale company. They start hearing about you. You know those guys, they show up on time, they get their stuff done. Man, they are always on it. I'm never chasing after information with those guys, it's just there. So you know the, the follow through in the customer experience ends up being a big part of the cell. Yeah, you build a business like that on your reputation and the reputation is built incrementally over. You know dozens and in tens of, you know hundreds of projects over time. So that, in a nutshell, is the key to the communication of breaking through those, those barriers. I get, you know dozens of people calling me every day trying to get on my bid list, my bid invite list. Why should I give you a chance?
Dani Buckley:Yeah right.
John Lenker:So you gotta be there with the message that's different and unique in that moment, that really dials into their pain points. Not just you're not selling to a general contractor, you're selling to a project manager or an estimator within that organization and you're dialed right into what they care about most.
Dani Buckley:Yeah, love it, yeah. So what I'm hearing, just to reflect back, is we're really talking about value proposition, really understanding your actual target audience, like you said, going deeper which some people struggle doing and so really understanding who we're talking to and what their unique pain points are, which could be different for different roles that you are talking to. I think a key thing that you touched on that I just want to highlight is that this thing needs to be true.
John Lenker:Absolutely.
Dani Buckley:This goes back to that market opportunity analysis. It's like being honest with yourself. If you find this amazing pain point that is going to help you sell more, whatever, it's got to be true In your example, this cabinet company has to actually be able to do these things. I mean, sure you can get away with it for whatever amount of time. But yeah, it's that perfect marrying of what is the pain point and then which one can you really solve best that has the best opportunity in the market. Does that sound right?
John Lenker:Yeah, let me just say that there's a series of key questions. When you're first starting to do an analysis of a market and an opportunity, you're asking, you're really trying to determine is there an opportunity, is there a need in the marketplace that's going unmet in some way that I could meet and exploit for everybody's mutual gain? So everybody succeeds and wins In the process of doing that and you decide to go into a business. This is one of the first questions we ask when people come to us is we ask these three questions why this, why now and why you?
Dani Buckley:Yes, love it.
John Lenker:Why are you proposing to pursue this as a business opportunity? Why is now the right time to get into the market? Think about the stock buying, a stock tip that you heard about. Usually you're in it too late by the time you hear about it. So why are you catching the wave at the right moment? And then why are you the one that is going to be able to successfully exploit that opportunity to everybody's mutual gain? And it's called a virtuous cycle.
John Lenker:So those questions need to be answered in the affirmative. And in the example that I gave a few minutes ago you say well gosh, the cabinet making industry is as old as time. Why would I want to go into that business? There's dozens of competitors? And it's because, well, I realize I see that there's a lot of unhappy general contractors with their millwork vendors, and the reason they're unhappy is inconsistency inconsistency of quality, inconsistency of communication, inconsistency of that kind of business professionalism. So if you can become the company that goes into the marketplace with all of that cabinet making skill but with the business sensibilities it understands the business problem that that client or audience is trying to solve, and you go right in there with something unique that is at a different level than is currently being offered. So the question we ask is this and it gets back to that reality and that the genuineness of your solution is when you've done this analysis, you've kind of assessed the landscape of the competitive environment you ask this question what is it that we could do that, if we did, it would make us the undeniable solution in the market. Just hands down that if anybody took the time to hear our pitch and they heard it, they go. Well, I'd be stupid to say no to you. I'd be stupid to say no to that value proposition. What is it that you could do that, if you did, it would make you the undeniable solution.
John Lenker:Now here's the key. We can't afford to just spend willy-nilly on. Let's bring in a skyscraper solution to a small town where the next tallest building is three stories high. You need to gauge what is the current condition of the competitive landscape and aim to be head and shoulders above the competition. If everybody's building three stories, you'd be four or five stories. You can afford to do that if you're smart, if you're innovative, if you catch the wave at the right moment.
John Lenker:You've got some kind of innovation, some kind of approach, some kind of special talent or skill, then how do you bundle the message in such a way that, like a bullet or an arrow, can just pierce through that barrier or protection, that force field that everybody's put up around their brain to keep you out? Because I'm getting inundated every day with all this information pollution. Everybody's saying the same thing. You look at tactics. You ask practical. Well, one thing not to do is to go on to LinkedIn and start spamming everybody with hey, I'm just noticing you wrote this really awesome article and it just so inspired me. I need to have a quick 15-minute chat with you. People are just like leave me alone.
John Lenker:There's got to be a way of breaking into the consciousness of people that is different than whatever the herd is trying to do in any given moment. That takes creativity. There's a lot of strategy around that, but one of the most important things they get to another very practical thing that we need to do to advance our purpose, whether you're an individual person selling within an organization or whether you're the leadership of a company trying to grow, is that you need to understand who your audiences are. You need to understand their needs and you need to understand what we said before is what is the message that's going to really work. But then you got to think through the natural course of how the relationship would naturally develop if it was going to be an ideal situation.
John Lenker:You think of dating or something like that. There's a first date, a second date, after a while you're kind of a couple, and then who knows what happens after that. But there's things that need to happen at each stage of the relationship to break through to the next stage of the relationship. We call those relationship milestones, and so part of the analysis of the market opportunity is kind of thinking through the natural flow paths people follow from when you first meet them to when you're in a very deep relationship, ongoing, continuous business relationship where you're maximizing customer lifetime value, and you think through the different stages of the relationship and you think through the gateways or the relationship milestones that give you permission to go to the next stage. And once you've identified the stages, once you've identified the relationship milestones you're trying to get through, then everything that you craft to say or to put out to that audience should be focused just on getting through that next relationship gateway, through that next relationship milestone.
John Lenker:If you're going on a first date, don't be talking about marriage and children and retirement plans Be doing insane the things that make people so inspired. At the end they go. You know what? I had such a great time with you. I would love to go out with you again. Let's go out again. Let's make plans, what's the equivalent in your business relationships, and just aim for those things at each stage. Don't ask for the thing that isn't appropriate to ask for or based on the level of commitment you've established in that relationship.
Dani Buckley:I love the metaphor of essentially adhering to the actual buyer's journey and where they're at and with these relationship milestones. I love that, and there's been so many good nuggets in this conversation. You have a wealth of knowledge, john, and I feel like I could sit and listen to you all day and chat with you about these things, but I know that we're going to bring this to a close and what I want to ask you here's my final question, that is, is there one thing that you want to leave with our audience as they're thinking about their marketing and sales efforts in 2024? What is the one thing you want to be sure everybody knows or does or is thinking about? Just to kind of leave that with us.
John Lenker:I think the one thing that I would say is that we've got to get away from fake authenticity.
John Lenker:Everybody's talking about authenticity and being genuine and transparent.
John Lenker:All this kind of it's just become gobbledygook and I think we need to do some soul searching about what is it that I can really bring to the table in a business relationship and if I feel like there's nothing I could point to that makes me stand out, do some analysis on what is it that you could do that if you did that, you would stand out and then go work on yourself, go work on your organization, develop those capabilities, cut out the things that are just extraneous and mediocre.
John Lenker:Make room for the things that are going to let you climb and ascend to be a market leader, and then contact a company like Lenker that can really help you kind of game plan out the smartest path forward for your organization. We're in the business of helping businesses grow. It's what makes us different than a typical marketing firm or ad agency is. We're focused on you reaching your business milestones and not on just doing a bunch of projects and so that's it. Think through what's going to differentiate you, commit yourself to attaining that level and then come up with a really smart game plan for going to market, creating a customer journey that has the appropriate relationship stages, and think through the strategy to get through each gateway and get people to the yes that you're looking for.
Dani Buckley:I love it. I knew you'd have a good mic drop. I'm sure there's lots of people listening with their wheels turning and thinking, oh yeah, I don't have this. I don't know this. I need to get clearer on this. So thank you for your time and sharing your insights today. John, it was a pleasure having you and getting to talk with you.
John Lenker:Thank you, and if people want to learn more, they can go to Lenkercom and there'll be some more information and some things they can download and get more information about this topic.
Dani Buckley:Yep, and we'll have all of your contact information and everything in our show notes for folks. So connect with John and look forward to seeing everyone on the next episode. Until then, happy selling.
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