Business Growth Strategies For CEOs: Top CMOs On Marketing Strategy Implementations

Nate’s Erroneous Thinking (but probably not yours)

Written by Bob Sherlock | Tue, Nov 26, 2024

Let’s suppose that each of us is recognized at work for thinking clearly, correctly, maybe even insightfully.

That is no guarantee that our significant others will recognize that quality in us at home.

No, in our personal lives, our thoughts may be regarded by those who love us as Erroneous Thinking.

Perhaps you know this phenomenon.

Nate: “I thought we might go see a game on Saturday.”

Nate’s Long-Suffering Spouse (LSS): “You’re joking. I need you to help me rake leaves on Saturday.”

Nate: “Ah, okay. After we rake leaves, let’s go eat at the new taqueria.”

LSS: (Looking at Nate like he has six heads) “Um, you know I’m really tired of Mexican food lately. Your thinking is erroneous, Nate.”

You see, to the LSS it’s not just a difference of opinion — it’s erroneous.

When there’s not much at stake – what to do on a Saturday, or where to dine – it isn’t hard to resolve, and the Erroneous Thinker and LSS figure it out. Often, it’s without much need for research, and often with Nate going along with his LSS’ wishes on the matter.

Erroneous Thinking in Marketing

Although I have more often observed the phenomenon of Erroneous Thinking in folks’ personal lives rather than at work, I can’t shake the worry that Erroneous Thinking may happen in marketing too.

Maybe it happens a lot!

I’ll posit that the following examples constitute Erroneous Thinking, and that erroneous assumptions are sometimes the root cause.

1. If prospects only knew who we are and what we do, they’d say yes.

This is the reason so many business-oriented websites are so “about us” rather than about the prospect or customer:

A more effective site in that industry would make clear immediately:

  • What types of customers the company serves, so a prospect can quickly decide “This company is relevant to me” and decide to explore the website further.
  • The thorny, aggravating problem that prospects have (or fear they’ll have in the future) that this supplier can prevent or solve
  • A brief promise of better outcome(s)

With those quickly established, then the site can proceed to talk products, services, “why us” etc.

2. Our business is doing really well. If that changes, then we’ll change what we do in Sales & Marketing.

There’s a lag before most changes to marketing and sales tactics take effect and show up in revenue. That’s true even in short cycle businesses. Given that sales cycles can be long, I don’t recommend waiting until things get bad to work on improvements.

While things are going well is a perfect time to:

  • Assess the effectiveness and efficiency of your marketing (here’s a guide for companies that sell to other businesses https://www.chiefoutsiders.com/blog/building-a-growth-engine)
  • Get an independent and insightful third party to conduct Voice of the Prospect / Customer interviews, oriented toward the business of the future. (This is quite different than a customer satisfaction survey.) Use the insights to steer the development of your solutions offering, message, and how you’ll go to market in 3 to 5 years.
3. In industrial markets, there’s not much need for Marketing. The Sales function is the driver of revenue.

That assumption doesn’t fit with shifts in buyer behavior. So much more is done online now:

 

Source: SiriusDecisions (Forrester)

SiriusDecisions is quick to note that this doesn’t mean that Sales can’t or shouldn’t proactively engage prospects early. But Sales contact alone doesn’t fit with how buyers behave today, and a go-to-market effort using only the Sales function is brute-forcing things. There’s no need to do it the hard way anymore!

I hope these thoughts will prove useful to you or someone you know.