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The blind spot for marketers that could be risking 40 percent of their revenue

Posted By Liam Halpin, LinkedIn, Tuesday 20 December 2016
Updated: Friday 16 December 2016

Liam Halpin LinkedIn

Since joining LinkedIn as Head Of LinkedIn Sales Solutions In EMEA back in July this year, I’ve had the opportunity to meet a large number of our clients ranging from multinationals employing thousands of customer-facing staff to SMBs using social media to effectively grow their business locally.

Throughout all these conversations one worrying theme has emerged; one that shapes the relationship we at LinkedIn have with our customers, and how we advise them to think about their own. 

It turns out that most business leaders vastly overestimate how well connected their teams are with their client organisations. Not just by a little, but by a lot.

At LinkedIn we have access to unique data on the relationships between professionals and organisations. One of the areas we’re increasingly supporting clients in is helping them identify the most relevant companies for them to do business with, and map out the appropriate decision makers within those organisations. We can also show companies how well they’re faring compared to their peer set. 

It turns out business leaders have an incredibly optimistic view of the world, and their teams are far less connected than they think. This perception gap should worry CEOs and marketers. How well connected you are with your clients will have a direct impact on your ability to hit your revenue targets.

 

MORE COMPLEXITY, MORE CHURN

A frequently-cited stat from the CEB is that there are an average of 5.4 people involved in today’s B2B purchase decisions. Driven by a decentralisation of organisational structures, these people are likely to be distributed across different divisions, functional areas and even geographies. They will have different agendas, motivations, and preconceptions. Failing to build strong ties to one of these people could see important deals collapse.

What’s more, it’s well understood now that the job for life has gone. Our data shows that the typical CMO or CTO is likely to be in their role for 29 months, and one in five decision-makers is likely to leave their position every 12 months. Companies who might have once relied on the relationship between their top salesperson and their top client have quickly found that strategy is no longer viable. If your main contact is one of those on their way out of the door, you could find yourself rapidly writing down your next forecast. 

And that’s just the churn on the client side. 

Sales professionals are even more likely to change jobs compared to the average professional, with one in four likely to move onto new pastures within a year. Added together, these factors could be putting up to 40 per cent of a company’s revenue at risk. With more churn than ever among sales and client teams, it’s time for companies to adopt a new way of thinking about their client relationships.

 

MULTI-THREADING

Despite the name, multi-threading has nothing to do with needlework. Instead, this is the strategy we at LinkedIn take to all our client relationships and a strategy we advise all our clients to adopt. It’s a simple principle based on establishing multiple touch points between your organisation and that of your client.

So how can sales teams go from point-to-point to more matrixed relationships? 

The cause that I’m most passionate about in my role at LinkedIn is the modernisation of selling. At its heart is using social media to take the heavy-lifting out of managing these newly complex relationships to increase productivity, be it LinkedIn or whichever social platform your clients happen to be engaged in professionally. Social media is the best way to quickly and easily see clues that provide opportunities to engage and foster relationships, from a profile update indicating a promotion, to someone sharing an industry news story that you have a useful perspective on. It also makes it far easier to spot mutual connections and leverage your network for relevant introductions.

 

OFFENSIVE, NOT DEFENSIVE

Multithreaded relationships built on social media aren’t just a way to defend against risk. It can also be a hugely powerful tool for business growth: every time a contact moves to a new role within a new company, you gain a potential new client. 

For a company with 50 clients and five key relationships within each of those organisations, this could result in up to another 50 new prospect targets each year, just by mapping and establishing the right relationships.   

I’m not advocating that marketers become any less optimistic - the world has never been more in need of optimism - but I do encourage you to think about what would happen if your most successful salesperson left your organisation, or your most vocal sponsor at your biggest client moved roles. If either – or both – prospects fills you with unease, then it’s time to get serious about multi-threading.

 

This article was originally posted on LinkedIn.com


ABOUT LINKEDIN

Founded in 2003, LinkedIn connects the world's professionals to make them more productive and successful. With more than 450 million members worldwide, including executives from every Fortune 500 company, LinkedIn is the world's largest professional network on the Internet. The company has a diversified business model with revenue coming from Talent Solutions, Marketing Solutions, and Premium Subscriptions products. Headquartered in Silicon Valley, LinkedIn has offices across the globe.

www.linkedin.com

 

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Mobile Consumer Survey 2016: The Irish Cut

Posted By Deloitte, Wednesday 14 December 2016
Updated: Tuesday 13 December 2016

There's no place like phone

Deloitte conducts a Global Mobile Consumer Survey each year. 2016 is the first year that Deloitte surveyed a representative sample of the Irish market. The aim was to gain insight into the trends and behaviours which arise from the adoption of mobile technology. The research carried out provides insight to businesses on the trends which are shaping opportunities in their markets. We are also able to compare the rate of adoption of mobile technology and services in the Irish market to show the potential for disruption. 

deloitte mobile consumer survey

KEY HIGHLIGHTS

  • By mid-2017, consumers intend to purchase smartphones (50%), tablets (23%), laptops (20%), smart TVs (16%), wireless speakers (12%) and connected surveillance / security systems (12%).

  • 86 per cent of adults have access to smartphones and are using these as their primary mobile device.

  • 72 per cent of 18-24 year olds reach for their phones in the middle of the night.

  • 61 per cent of all those surveyed reach for their mobile phones within 15 minutes of waking.

  • Respondents view mobile payments as not secure enough (26%) and question the benefits of using smartphones for in-store payments (25%).

 

TRENDS

Mobile is being used to discover and access an ever increasing number of goods and services in our work (email and IM) and private lives (eCommerce, social and media consumption).

The consumer clearly appreciates the benefits of digital and mobile in their daily lives. As a business with an online presence, be it a website or mobile App, it is helpful to understand the opportunities and how well equipped we are to emerge into and serve new markets. This is essential for all businesses with an online presence and not just to device manufacturers, operators and service providers.

Businesses who have identified key trends and have defined a digital strategy and have invested in the necessary capabilities to engage with other businesses and consumers in the mobile economy are best placed for future growth. However, this requires a shift in mindset to be truly mobile, delivering on your promise to customers in terms of the customer experience. It also means addressing consumer trust concerns around privacy and security.

Finally appropriate, contextual engagement and real-time or near real-time insight is needed to accelerate your Mobile Business Strategy. 

mobile consumer survey infographic

 

Go to Deloitte.com to download full report

 


 

ABOUT THE AUTHOR

At Deloitte, we make an impact that matters for our clients, our people, our profession, and in the wider society by delivering the solutions and insights they need to address their most complex business challenges. As one of the largest global professional services and consulting networks, with over 220,000 professionals in more than 150 countries, we bring world-class capabilities and high-quality services to our clients. In Ireland, Deloitte has over 2,000 people providing audit, tax, consulting, and corporate finance services to public and private clients spanning multiple industries. Our people have the leadership capabilities, experience, and insight to collaborate with clients so they can move forward with confidence.

www2.deloitte.com/ie

 

Tags:  mobile 

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Vizeum Connection Points

Posted By Vizeum, Wednesday 7 December 2016

Vizeum brings us fresh updates from the media industry

industry updates

GOING STRONG

This year’s toyshow on RTÉ1 had another solid performance, with 1.148milion adults tuning in. Hks/with delivered a massive 43 TVRs, whilst even younger audiences showed incredible ratings . Adults 1634 delivered 28 TVRs.

ADIOS VINE

Just four years after launch, Twitter has announced it is closing down its video sharing service, Vine.

LOOKING AHEAD

Amazon Go might offer the future of convenience shopping, with no queuing and no checkouts. Using digital scanning, customers are charged as they leave the store. It is still in beta in Seattle.

SOAP MOVES

Emmerdale and Corrie are returning to TV3, following the station’s acquirement of UTV Ireland. Plans for UTV will be announced at today’s TV3 group media briefing.

TODAY FM

Anton Savage has announced his departure from Today FM over disagreements with management.

MERGER

The Journal sale’s team will take over the selling of Distilled Media (Daft, Donedeal). Business as usual.

FACEBOOK METRICS

To give more clarity and confidence to the industry, Facebook have announced they are changing, reviewing and updating a lot of their metrics. This includes, organic reach, video completions and App referrals.

PROGRAMMATIC ADVANCES

Amnet can now deliver native ads programmatically. The ads scale across publishers and platforms in real time.


 

ABOUT THE AUTHOR

Vizeum's promise is to drive business value through media for our clients. Established in 2004, Vizeum is structured to take full advantage of the opportunities brought about by the digitization of media. The company manages its client business via a partner structure. This ensures that every client has senior advisors managing their business. These senior points of contact develop integrated strategies across the entire bought, owned and earned media ecosystem. We then have the specialist skills in house to deliver that strategy in the most efficient and cost effective manner.

Vizeum sponsors The Marketing Institute's Marketing Breakfast series.

www.vizeum.ie

 

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European Consumer Trends 2017

Posted By Mintel, Wednesday 7 December 2016
Updated: Wednesday 30 November 2016

mintel consumer trends 2017

At our recent Breakfast Briefing, Richard Cope from Mintel introduced 7 key trends that will shape marketing in 2017.

1. The Sweet Hereafter

After Finland, Norway, Hungary and France, the UK is the latest European country to declare a sugar tax, signifying a growing challenge for European brands: namely how to deliver the future of sweetness going forward.

2. Airpocalypse Now

Air pollution is harming us right now and governments, brands and consumers are ready to respond. As postParis legislation kicks in and eco lobbyists push for further action, consumers will wise up to danger and start investing more in the kind of pollution protection products we see in China (including masks, air purifiers, beauty treatments and plants), whilst brands endeavour to be part of the solution, not the problem.

3. Ascending Africa

As one political trading union weakens, another rises. Africa’s rising GDP and improving infrastructure are making it an increasingly credible and powerful trading partner, dealing in everything from ancient grains and gourmet cocoa to fashion, films and comic books. 

4. Cultural Social Responsibility

From a brand point of view, these initiatives offer an opportunity to tap into current feelings of nationalism in a positive and non-divisive way.

5. Right Here, Right Now

Aided in part by the rise in popularity of geolocation technology, we expect brands increasingly to help consumers decide what to buy, watch, do or eat based upon pending time frame from the next 30 minutes to the next 48 hours. 

6. Seamless Spending

Growing consumer confidence in contactless payment systems will lead to a greater number of businesses embracing digital payments and more impulse purchases thanks to the financial fluidity they offer. 

7. Talking Shop

As the software that powers platforms such as Snapchat, WhatsApp and Facebook
Messenger improves and becomes more nuanced, these forms of communication will mainstream in the customer service sector and we’ll see people increasingly speak to brands as easily and informally as they would with their friends. 

Here is the full presentation:

 

 

ABOUT THE AUTHOR

Mintel is the world's leading market intelligence agency. It monitors product launches and innovations, runs large-scale consumer research projects, tracks behavioural trends, measures market sizes and provides bespoke field research and consulting services. Mintel can take you further, showing you what will drive future growth, where the opportunities and challenges will lie, who's innovating and where the next big idea will come from. Mintel Ireland services include: Mintel Reports, Mintel GNPD, Mintel Consulting

www.mintel.com

 

Tags:  2017  trends 

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Guaranteed Irish appoints Brid O’Connell MMII as its new Executive Director

Posted By The Marketing Institute, Tuesday 6 December 2016
Updated: Monday 5 December 2016

brid o'connell

Guaranteed Irish has named Brid O’Connell, founder and director of Welcome Marketing and member of the Marketing Institute, its new Executive Director.

2016 has been a tumultuous year for many businesses. Guaranteed Irish has taken this opportunity to adapt to a changing environment and has undergone a rebrand and repositioning. One of the key changes is that the organisation now accepts members that conduct a significant proportion of their business in Ireland, as well as indigenous firms.  

Brid said her ambitions in this new role are to bring the business membership organisation into the 21st century with a focus on digital communications, and to foster job creation in the Irish economy.

“We need to maintain and grow awareness of the benefits of doing business in Ireland.  That’s what Guaranteed Irish is all about.” She said. “So we’re back, bigger and better than ever. We are ambitious for our organisation, for our members and for the communities in which they create employment”. 

 

For more information on Guaranteed Irish visit www.guaranteedirish.ie

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