Narrative

Marketing Technologies
Marketing Technologies Jonathan Poland

Marketing technology, or “martech,” refers to the tools and software used to support marketing efforts, such as advertising, brand management, sales, customer service, and marketing operations. These tools often use data and analytics to improve the effectiveness of marketing campaigns and help businesses better understand and engage with their customers. Martech is a rapidly growing and evolving field, with new tools and technologies emerging all the time to help businesses better reach and engage with their target audiences. The following are general types and categories of marketing technology.

Ad Exchanges
Markets for advertising that connect multiple ad networks.

Ad Servers
Platforms that deliver ads including optimization and reporting features.

Analytics
Analytics is the discovery of meaningful information in data. Often specialized to a particular type of data, such as analysis of web traffic or social media.

Campaign Management
Tools that coordinate marketing campaigns across multiple channels.

Content Delivery Network
Cloud platforms that allow delivery of content from data centers in different regions designed to speed delivery by proximity to users. A content delivery network typically has significant capacity that allows traffic to scale up and down as required.

Content Management
Platforms for publishing and managing content and media.

Conversion Optimization
Tools that seek to optimize the number of website visitors that take a specific action such as buying something. Techniques may include A/B testing or algorithms designed to discover effective combinations of headlines, copy, images, videos and approaches.

Customer Relationship Management
Large platforms that can be used to manage marketing, marketing operations, sales and customer service functions. May include tools for social media management, multi-channel advertising, content management, analytics and workflow.

Dashboards
Reporting tools that provide a one page realtime view of metrics .

Database Marketing
A category of tools that support direct marketing such as email and direct mail.

Decision Support Systems
A generic term for technologies that support marketing decisions. For example, a decision support platform may provide market data to assist in pricing, product or advertising decisions.

Demand Side Platform
Platforms that allow advertisers to bid for digital advertising inventory in real time. Allows advertisers to target customers based on factors such as location, context, behavior and demographics.

Digital Asset Management
Technologies that manage digital assets such as media and marketing collateral.

Ecommerce
A broad term for any technology that supports electronic business models.

Enterprise Marketing Management
Large marketing packages designed to unify marketing functions on a single platform.

Event Driven Marketing
Event processing technologies that can be used to identify and respond to events such as reviews, social media posts, market changes and customer actions.

Gamification Techniques
The use of game techniques in marketing content, applications and merchandising displays.

Lead Management
Technologies for acquiring, qualifying and managing leads.

Marketing Automation
Automation of repetitive, high speed tasks and activities such as online advertising bids and direct marketing techniques using business rules or algorithms.

Marketing Intelligence
Data providers for customer and market information such as prices.

Marketing Resource Management
Platforms for marketing operations processes such as planning, budgeting, executing, and measuring marketing campaigns.

Mass Customization
A business model that allows customers to customize their products, often using interactive design technologies.

Media Production
Tools for production of media such as video editing software.

Publishing Tools
Technologies for publishing content such as a blog platform.

Remarketing
Advertising that targets customers who have visited your website or used your mobile app recently.

Sales Force Automation
Suites of productivity tools for salespeople including functions such as lead, opportunity, contact, proposal and order management. Orchestrates the sales process and often acts as the primary source of customer data for an organization.

Social Media
Platforms that allow users to create and share content. Allows you to engage customers by creating and sharing content or advertising. Also a critical source of data as a venue for customers to express their opinions about your brand.

Social Media Management
A dashboard and set of tools for managing social media marketing initiatives across a variety of accounts.

Social Media Monitoring
Tools that measure streams of social media data relevant to your brand. Can be used to measure factors such as brand awareness and reputation.

Supply Side Platform
Platforms for web publishers to offer advertising inventory in exchange for revenue.

Workflow
Technologies designed to choreograph or orchestrate processes that include human tasks. Often used to semi-automate marketing operations.

Salesforce Automation
Salesforce Automation Jonathan Poland

Sales force automation is a type of management tool that helps businesses automate and streamline their core sales processes, such as prospecting, opportunity management, call management, account management, and territory management. While these processes are not usually fully automated by the tool, sales force automation typically helps to orchestrate the sales process, manage sales data, and often provides analytics and reporting capabilities. In many cases, sales force automation is a component of a customer relationship management (CRM) platform that also includes other functions such as marketing and customer service.

The following are some ideas for sales force automation:

  1. Implementing a streamlined process for prospecting and lead generation, including the use of automated tools to identify and target potential customers.
  2. Using sales force automation to manage and track sales opportunities, including the ability to create and manage sales pipelines, set and track goals, and monitor progress.
  3. Implementing call management features to help sales reps make and receive calls more efficiently, including the ability to log and track calls, schedule follow-up calls, and set reminders.
  4. Integrating sales force automation with other business systems, such as marketing automation and customer relationship management, to provide a more comprehensive view of customer interactions and data.
  5. Providing analytics and reporting capabilities to help sales managers and executives gain insights into sales performance, including the ability to track key metrics such as revenue, conversion rates, and average deal size.
  6. Implementing territory management features to help sales reps manage their geographic areas and target the right customers, including the ability to track and manage customer accounts, set and track goals, and monitor performance.
  7. Implementing account management features to help sales reps manage and track customer accounts, including the ability to create and manage account profiles, set and track goals, and monitor performance.
  8. Providing mobile access to sales force automation tools, allowing sales reps to access and update information on the go, including the ability to make and receive calls, manage sales opportunities, and track customer interactions.
  9. Implementing automation for key sales processes, such as appointment scheduling and quote generation, to help sales reps save time and focus on high-value activities.
  10. Offering training and support to help sales reps learn how to use sales force automation tools effectively and maximize their productivity.

Remarketing
Remarketing Jonathan Poland

Remarketing is a marketing strategy that involves targeting customers who have previously interacted with a business. This is often done through the use of digital ads, which are delivered to customers based on their previous interactions with the business. For example, a business may use remarketing to show ads to customers who have visited its website, abandoned a shopping cart, or engaged with its content in some other way.

There are a number of companies that specialize in providing remarketing services, using technologies that allow them to deliver ads to customers on a wide range of websites. These companies often have a large network of content partners, which allows them to serve ads on a high percentage of websites, increasing the chances that customers will see them.

Overall, remarketing is a powerful tool for businesses looking to engage with customers who have previously expressed an interest in their products or services. By targeting these customers with relevant and personalized ads, businesses can increase the likelihood of conversions and build stronger relationships with their customers.

There are many examples of remarketing, but some common ones include:

  • A business that shows ads to customers who have visited its website but did not make a purchase. These ads may remind the customers of the products they were interested in and encourage them to complete their purchase.
  • A travel company that shows ads to customers who have searched for flights or hotels on its website. These ads may offer special deals or discounts to entice the customers to book their trip with the company.
  • An online retailer that shows ads to customers who have abandoned their shopping carts. These ads may remind the customers of the items they were interested in and offer them a discount or other incentive to complete their purchase.
  • A subscription service that shows ads to customers who have signed up for a free trial but have not yet converted to a paid subscription. These ads may highlight the benefits of the service and encourage the customers to upgrade to a paid subscription.

Niche Market
Niche Market Jonathan Poland

A niche market is a small and specialized target market that is characterized by unique needs, preferences, and perceptions. These markets are often served by small firms that focus on providing products and services that cater to the specific needs of the market. By serving niche markets, these firms are able to avoid direct competition with larger and more established firms.

Large firms may also choose to diversify their product lines into smaller and more specialized niches in order to tap into new sources of revenue. This can be an effective strategy for firms looking to expand their operations and grow their customer base. Niche markets play a crucial role in the economy, providing opportunities for small businesses to thrive and for larger firms to diversify and expand their operations.

A niche product is a specialized product that is designed to appeal to a small and specific target market. This type of product is typically developed to meet the unique needs, preferences, and perceptions of a particular group of consumers. By targeting a niche market, a company is able to differentiate its products and avoid direct competition with larger and more established firms. This can be an effective strategy for small businesses looking to gain a foothold in the market and build a loyal customer base.

Niche products can also be a useful way for larger companies to diversify their product lines and tap into new sources of revenue. By offering specialized products, these firms can appeal to a broader range of consumers and expand their customer base. Overall, niche products play an important role in the economy by providing specialized products and services that meet the unique needs of specific consumer groups. The following are common types of market niche.

Customer Needs
The things that a customer needs to accomplish with a product or service. For example, a customer who needs ice skates specifically designed for freestyle moves.

  • Comfort
  • Configurability
  • Convenience
  • Fair Terms
  • Features
  • Functions
  • Information
  • Look & Feel
  • Performance
  • Repairability
  • Requirements
  • Use Cases

Customer Experience
The end-to-end experience of interacting with your brand, products and services. For example, a customer purchasing a crystal glassware product who finds it difficult to determine if it contains lead. This represents an opportunity for a niche competitor that bases their entire brand around being lead-free.

  • Brand Image
  • Customer Service
  • Inquiries
  • Peak Experiences
  • Problems
  • Product Information
  • Returns
  • Shopping Experience
  • Unboxing
  • Usability

Price
Targeting customers by their price sensitivity in a product category. For example, a parent who needs an entry level pair of ski goggles for a child. The parent isn’t overly price sensitive but wants a quality item at a value price without any concern for brand image.

  • Affordable Luxury
  • Discount
  • Luxury
  • Mid-Priced
  • Premium
  • Value For Quality

Quality
Offering the market a unique level of quality. For example, packaging a product in a wooden box that is usually packaged in plastic.

  • Build Quality
  • Defects
  • Durability
  • Fit for Purpose
  • Hand-made
  • Ingredient Quality
  • Materials
  • Packaging Quality
  • Reliability
  • Reusability

Demographics
Products that serve a particular demographic such as a smart phone app for seniors.

  • Age
  • Culture
  • Disabilities
  • Education Level
  • Ethnicity
  • Family
  • Gender
  • Generation
  • Income
  • Life Stage
  • Profession
  • Urban / Rural

Psychographics
A target market based on the way customers think. For example, a bicycle helmet for customers who prioritize health & safety that greatly exceeds safety standards.

  • Conservation
  • Customer Motivation
  • Environmental Consciousness
  • Health & Safety
  • Influences
  • Opinions
  • Risk Taking
  • Social Consciousness
  • Social Status
  • Traditional
  • Values
  • Worldview
  • Customer

Behavior
Customer behavior such as their shopping habits, brand loyalty and hobbies. For example, a desk chair for heavy users such as employees who work from home such that they need durability, comfort and safety at a reasonably price.

  • Activities
  • Brand Loyalty
  • DIY
  • Early Adopter
  • Experts
  • Hobbies
  • Interests
  • Late Adopter
  • Lifestyle
  • Novices
  • Shopping Habits

Geographic
Niches based on locations such as the only hotel directly connected to an airport or only Japanese restaurant in a small town.

  • Captive Customers
  • Convenience
  • Gift Shops
  • Local Monopoly

Events & Occasions
Products and services that relate to a point in time such as a birthday or industry conference.

  • Awards & Recognition
  • Celebration
  • Concerts
  • Conferences
  • Cultural Events
  • Festivals
  • Holidays
  • Life Milestones
  • Rites of Passage
  • Sports Events

Media Analysis
Media Analysis Jonathan Poland

Media analysis is the study of the structure, content, and methods of communication in various forms of media. This involves examining the various media outlets, such as newspapers, television, and social media, as well as the specific communication artifacts and structures used within each outlet. The goal of media analysis is to gain a better understanding of the ways in which information is presented and disseminated through these channels, and to identify any potential biases or inaccuracies in the media coverage. By conducting a systematic investigation of these communication structures and methods, one can gain insight into the ways in which the media presents information and can use this information to improve the accuracy and fairness of the media coverage.

Content Analysis
Content analysis is the systematic evaluation of the content of messages that are shared in media. For example, considering the methods that media use to influence or spread propaganda such as message framing, nudges and call to action.

Media Planning
Media analysis often has practical goals such as identifying channels that can be used to reach a target audience with a promotional message.

Media Economics
Evaluating value creation, competition and markets in the media industry. For example, attention economics that models the value of reaching an audience with a message.

Structural Analysis
Examining the structure of media control. For example, investigating the ownership structure of newspapers in the United States to identify entities that have the power to influence society at scale.

Behavioral Analysis
Evaluating the impact of media on behavior. For example, compulsive behaviors such as checking social media every few minutes that interferes with an individual’s ability to be a happy and productive member of society.

Social Analysis
Evaluating the impact of media on politics, corporate strategy, design, culture, economics, communities and quality of life.

Medium is The Message
Medium is the message is the idea that each medium shapes the content and character of communication. This calls for a big picture analysis that considers how a new medium transforms a society. For example, the emergence of internet media that allows anyone to broadcast to large audiences changed the nature of communication on a global basis.

Marketing Costs
Marketing Costs Jonathan Poland

Marketing costs are expenses that are related to promoting and selling products or services to customers. These costs can include advertising, sales commissions, pricing strategies, and distribution expenses. The amount of money that a company spends on marketing can vary, but mature firms typically allocate between 4% and 24% of their total budget to marketing efforts. Startups may spend more or less on marketing depending on their stage of development and business strategy. Here are some examples.

Marketing Overhead

The all-in fixed costs of your marketing and sales teams including things like salary and rent for office space.

Advertising

Paying to reach an audience with a message in broadcast, digital and print media.

Sales Incentives

Performance based pay for salespeople.

Partner Commissions

Sales commissions paid out to partners.

Sponsorships

The cost of sponsoring media influencers, events and other entities such as sports teams.

Promotions

The cost of promotional activities such as a product launch event.

Media Production

The cost of producing marketing media such as a television commercial or social media post.

Consulting Fees

Fees for consulting and other services provided by marketing, creative and advertising agencies.

Marketing Locations

The cost of marketing locations such as a product showroom.

Events

Costs related to holding or attending events such as an industry conference.

Marketing Technology

Expenses for marketing related technology including hardware, software and services. For example, the monthly license fees for a marketing or sales automation platform.

Design & Development

The costs of designing and developing unique marketing technology or media such as a website.

Business Travel

Travel costs related to any marketing or sales activity.

Training

The cost of training marketing and sales teams.

Branding

Costs related to branding such as redesigning a logo.

Merchandising

The costs of displaying merchandise including things like promotional in-store displays.

Distribution

Distribution can be viewed as marketing or operations. For example, a book seller may view the costs of warehousing their products with a sales partner as a marketing cost.

Public Relations

The costs of public relations including crisis communications may be viewed as a marketing cost or as a general corporate cost.

Menu Costs

Menu costs are costs related to changing prices such as the signs required for a price promotion.

Promotional Items

The cost of promotional items such as a cup with your logo on it.

Direct Mail

The cost of direct mail campaigns such as a catalog you send to customers.

Marketing Collateral

The cost of developing and creating promotional knowledge artifacts and media that are used in marketing and sales such as a product brochure or industry white paper.

Selling Costs

Any expenses that are directly attributable to selling to a customer including things like travel.

Entertainment & Gifts

The cost of entertaining and giving small gifts to clients. This is a tax sensitive area such that these costs are at risk of being viewed as invalid or excessive. It is also a compliance intensive area particularly where a customer is a government e.g. the Foreign Corrupt Practices Act.

Customer Acquisition Cost

Customer acquisition cost is the total marketing and sales cost attributable to a customer. This may be calculated for all customers or for individual accounts. It can also be examined for different segments.

Soft Sales vs Hard Sale
Soft Sales vs Hard Sale Jonathan Poland

A soft sell is an approach to sales and promotion that emphasizes building a relationship and reputation with customers, rather than using direct, pushy tactics. This approach is often more subtle and indirect, and focuses on providing valuable information and creating a positive experience for the customer, rather than simply trying to make a sale. By taking a softer, more customer-focused approach, a company or salesperson may be able to build trust and establish long-term relationships with customers, ultimately leading to more successful sales.

A hard sell is a direct and aggressive approach to promotion and sales. It typically involves making strong claims and using persuasive language to convince potential customers to take a specific action, such as making a purchase. In a hard sell, the salesperson or company may use various tactics, such as repeating calls to action, addressing common objections, and making bold promises, in order to persuade the customer to take the desired action. This approach is often more direct and pushy than a soft sell, and may be more effective in certain situations, such as when a customer is hesitant or needs more convincing to make a purchase. However, it can also be off-putting to some customers and may not always be the best approach to building long-term relationships with them.

Salespeople often adopt one of two approaches: the “farmer” approach, which focuses on nurturing long-term relationships with customers, and the “hunter” approach, which focuses on making short-term sales. The “farmer” approach is often associated with soft selling, where a salesperson seeks to build a loyal and profitable customer base through building relationships and providing valuable information and experiences.

In terms of advertising and promotion, a soft sell may simply associate a positive emotion or idea with a brand, without directly promoting a specific product or service. This approach can be particularly effective for large firms that have a wide presence, as it can help to build brand recognition and a positive image, which can boost sales in the long run. A soft sell can also act as a form of countersignaling, demonstrating confidence and status without appearing desperate for a sale.

Hard selling is a “hunting” approach to sales, where a salesperson aggressively pursues an immediate sale. This approach typically involves using dramatic and direct sales pitches, addressing potential objections with promises, such as guarantees or customer references, and presenting the price early in the conversation, often with a discount already applied. Hard selling often involves using strong calls to action, such as “buy now,” “call now,” or “can I wrap this up for you,” in order to push the customer to take the desired action.

Hard selling is a skill that not all salespeople possess, and those who are good at it can be a valuable resource for firms that need to drive sales. However, this approach can also be off-putting to some customers, and may not always be the most effective way to build long-term relationships with them. As such, it is important for salespeople and firms to strike the right balance between hard selling and building relationships with customers.

Concept Selling
Concept Selling Jonathan Poland

Concept selling is a approach to marketing and sales that involves framing unique selling propositions as a story that customers can easily relate to, rather than focusing on technical details. This approach is designed to help customers better understand and connect with a product, service, or asset, and to make the sales pitch more compelling and persuasive.

Concept selling involves using storytelling and imagery to create an engaging and relatable narrative that presents the product or service in a way that resonates with the customer. This can include highlighting the benefits and features of the product, as well as showing how it solves specific problems or meets specific needs. By creating a compelling concept that connects with the customer’s values and aspirations, concept selling can help increase the likelihood of making a sale.

Concept selling is often used in marketing and advertising, as well as in sales pitches and presentations. It can be effective for a wide range of products and services, and can be adapted to different audiences and markets. By using concept selling to create a compelling narrative, it is possible to engage and persuade customers in a more effective and memorable way. The following are some examples.

Specifications
As opposed to saying “this apartment is 45 square meters” a real estate agent might say it’s “a small efficient space that’s perfect for students and young professionals.”

Capabilities
A software salesperson doesn’t pitch an integration adapter they pitch the ability to access your enterprise data from mobile.

Design
An aircraft salesperson doesn’t go into engineering details about an aircraft’s wings but states they are 2x stronger than a previous model and mentions interesting sounding materials such as quartz-fibre reinforced plastic.

Functions
A chair salesperson doesn’t tell an office manager about all the position settings available in an ergonomic chair. Instead they explain how the chair reduces costly repetitive strain injuries.

Performance
A salesperson doesn’t explain the high availability features of cloud-based software but simply mention that the platform was down for less than 4 minutes last year.

Risk
A fleet automobile salesperson shows a customer a crash test video alongside that of a competitor to show why their model is safer.

Quality
A mattress salesperson describes the quality testing process for a mattress that simulates a person jumping up and down 70,000 times on the product.

Status
A cosmetics salesperson mentions a celebrity who was in the shop and purchased the same item a customer is considering.

Culture
A green tea salesperson tells a colorful historical story about the terroir of their tea. For example, a story about how historical crop burning practices resulted in a large amount of soil carbon on the plantation.

Prospecting
Prospecting Jonathan Poland

Sales prospecting is the process of identifying and researching potential customers for a business’s products or services. This typically involves researching target markets, identifying potential customers, and reaching out to those customers to determine their interest in the business’s offerings. Sales prospecting is an important part of the sales process, as it helps businesses to find new customers and grow their revenue. By identifying and contacting potential customers, businesses can increase their chances of making a sale and expanding their customer base.

Cold Calling
Contacting an organization or individual who hasn’t made an inquiry to you. Can be done across multiple platforms using its native tools. Could be actual calls or direct messages via text and social.

Qualified Leads
Many companies have a process of acquiring leads using promotional methods such as digital advertising. Leads provide contact information and sales operations teams determine which leads are qualified to become customers. Prospecting then begins with the qualified leads.

Social Media
A salesperson may actively discuss topics close to their product in social media in order to connect with customers.

Trade Fairs
Industry events such as trade shows or fashion weeks.

Networking
Using personal connections to connect with more people in an industry. For example, a software salesperson for the banking industry in Hong Kong may hang out at the same popular spots and know many of the same people as customers in the financial industry.

History
Looking at recovering lost customers or failed proposals.

Lead Qualification
Lead Qualification Jonathan Poland

Lead qualification is the process of identifying the most promising sales leads and focusing sales efforts on those leads that are most likely to result in a successful sale. This helps businesses to optimize their sales resources and improve their chances of making a sale by focusing on the leads that have the highest potential for conversion. By qualifying leads, businesses can improve their sales processes and increase their overall sales success.

Finances
A review of the financial state of the lead. For example, a company that is heavily in debt and known to delay payments to suppliers may be disqualified.

Budget
The likelihood that the customer has a budget for a deal.

Authority
The position of the lead in their organization and their ability to make a purchase using authority or influence.

Needs
Does the lead need something that you can offer?

Timeframe
How urgent is the customer’s need? Are they likely to make a purchase in a timely manner?

Learn More
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Content Database

What is a Persona? Jonathan Poland

What is a Persona?

Personas are fictional characters that businesses use to represent and model the characteristics, goals, needs, behaviors, and emotions of their…

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Data Proliferation

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