Digital Marketing for Engineers Blog

How to Compensate an Industrial Marketer

Posted by John Hayes

Mar 23, 2017 3:05:37 PM

 

Do you need to create a bonus plan for a B2B marketer?

Maybe you are considering a bonus based on how many leads they generate. That path is popular, but it’s difficult to implement in the industrial market place. There are even worse ideas, however, like paying for social media followers.

There is a tension between compensating your marketers for things that they can control – social reach, web site traffic and marketing qualified leads, versus things that you really want, like revenue.

This is a real challenge for industrial marketers because the sales cycles are so long and their tasks are so varied.

In this post we’ll assume that you already pay a competitive salary, so we will focus on incentive compensation for marketers.

There are all kinds of approaches, but be forewarned. If you pay for the wrong thing, you may get a whole lot of it. For example, if you compensate for website traffic your marketer can make sure that your site is busier than ever. Busy means little to your bottom line though if all those new visits are from unqualified visitors who are an ill fit for your product or service. 

In this post we’ll investigate the primary ways that B2B marketers are compensated, and recommend specific ways to keep your marketing team aligned with your business objectives. We’ll also call out ways that marketers can game most of these metrics to earn their bonus even if their actual performance is poor.

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Topics: Industry trends and research, Marketing to engineers, Marketing/sales funnel, cost per lead

An Engineering Marketers Guide to Lead Nurturing

Posted by Andrew McWhaw

Jan 19, 2017 11:25:40 AM

What makes engineering so special?  Many would answer it’s because engineering is a discipline that betters the world by pushing the boundaries of innovation.  But as we heap praise on engineers for pushing the boundaries of innovation, I’m left asking where is the love for the engineering marketers who innovate in the marketing space? 

I’m always incredibly impressed with how curious many marketers are with nascent marketing tactics.  Regrettably, while many express curiosity, at the end of the day (or quarter) they get so worried about hitting their lead gen goals that they forego experimenting with something new. Instead, they default to  the tactics that are well understood and “good enough”. 

This isn’t the story of marketers playing it safe – It’s the story of a few brave marketers who said, “let’s shake it up and do something new” with a Lead Nurturing Campaign and reaped the rewards.  But don’t take my word for it, take a look at the numbers themselves: 

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Topics: Lead Generation, Industry trends and research, Marketing to engineers, Marketing/sales funnel, content strategy, Lead Validation

Four Steps to Better Alignment Between Marketing and Sales

Posted by John Hayes

Mar 23, 2016 5:02:03 PM

A couple years ago I posed the question, “Do you have crappy engineering leads or lazy sales people?”  Since then, alignment between sales and marketing has gotten better, but we still hear sales people saying,   “The leads we get from marketing aren’t leads at all. They’re just a bunch of people who have filled out a form to get a white paper.  It’s a waste of time to call them.”

Even if your marketing team is doing a better job of qualifying leads than they used to, the sales team may still be discounting them.  That hurts.   How badly?  Well, according to the consulting firm Sirius Decisions, organizations with tighter alignment between sales and marketing achieved 24% faster revenue growth over a three-year period.

So how do you get better alignment? One place to start is by meeting with the leaders in your company to get sales and marketing to agree on a number of key criteria.  Here’s what you need to get agreement on:

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Topics: Marketing/sales funnel

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