Industrial Growth Institute

Episode 52 - Lew Weiss on How Manufacturing Talk Radio Transformed His Metals Distribution Business

Manufacturing Talk Radio Quickly Morphed From an Experiment to an Industrial Marketing Juggernaut that Drove 30% Growth in Sales - Lew Weiss in Episode 52 of the Industrial Growth Institute Podcast
Summary
Lew Weiss, founder of All Metals and Forge Group and Host of Manufacturing Talk Radio joins Ed to share his extensive experience in industrial sales and marketing.
Lew discusses the evolution of sales over the decades, his early adoption of the internet, and the significant impact of achieving ISO certification on his business.
He also reflects on the creation of Manufacturing Talk Radio, emphasizing the importance of providing valuable insights to manufacturers. The conversation highlights:
Lew's innovative approach to marketing and his ability to adapt to changing industry landscapes
his journey in podcasting
the impact of his show on his business
transition from audio to video
challenges of monetization
importance of consistency
the value of educating the audience, and the need for commitment and patience in building a successful podcast.
Weiss also reflects on the surprises encountered during business transactions and the balance between work stress and passion for the industry.
Takeaways
Lew Weiss founded All Metals and Forge Group in 1972.
He embraced innovative marketing strategies throughout his career.
The internet revolutionized his approach to business.
ISO certification significantly boosted his company's credibility.
Marketing has always been more important than sales in his experience.
Manufacturing Talk Radio was created to provide insights to manufacturers.
He recognized the need for continuous reinvention in business.
Lew's unique branding with the yellow jacket made him recognizable.
He generated substantial leads through his website.
The podcast gained significant traction, with high download numbers. Sales at All Metals and Forge Group increased by over 30%.
Consistency is crucial for podcast success.
Transitioning to video-enhanced audience engagement.
Syndication expanded the reach of the podcast.
Monetization in podcasting is challenging but necessary.
Surprises in business transactions are common.
Passion for the work helps manage stress.
Understanding industry buzzwords is essential for success.
Rewards from podcasting can be significant over time.
Educating buyers is vital in today's market.
Takeaway Quotes from Lew Weiss
"Consistency is key in podcasting."
"The rewards will come back in spades."
"Educating your buyer is of colossal importance."
Check out Lews's Manufacturing Talk Radio website.
LinkedIn: Lew Weiss and Ed Marsh
Twitter: @MfgTalkRadio and Ed Marsh
Instagram: Ed Marsh
YouTube: @MfgTalkRadio and @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Lew Weiss and His Journey in Business and Manufacturing Talk Radio 04:26 The Evolution of Industrial Sales 11:50 Embracing the Internet Revolution 17:14 Achieving ISO Certification and Its Impact 24:53 Marketing vs. Sales: A Historical Perspective 28:11 The Birth of Manufacturing Talk Radio 34:48 The Impact of Manufacturing Talk Radio on Business 36:35 Measuring Impact and Consistency in Podcasting 39:01 Transitioning from Audio to Video 41:22 Relaunching and New Beginnings 43:12 Syndication and Expanding Reach 49:09 Monetization Challenges and Strategies 51:30 Navigating Business Transactions and Surprises 56:47 Balancing Work Stress and Passion 01:00:10 Advice for Aspiring Podcasters 01:02:10 The Importance of Commitment and Patience 01:07:11 Educating the Buyer and Market Trends
 
Learn about Manufacturing Journalism™ for Industrial Manufacturers.
 
#ManufacturingTalkRadio #LewWeiss #ManufacturingJournalism #IndustrialJournalism #IndustrialMedia #IndustrialSales #ISOCertification #MarketingStrategies #BusinessEvolution #InternetMarketing #SalesTechniques #DigitalMarketing #ManufacturingMarketing #AllMetalsAndForgeGroup #Podcast #Podcasting #VideoMarketing #MarketingROI #BuyerEducation #PodcastingAdvice #VideoPodcast #ManufacturingIndustry #BrandedPodcast #PodcastMarketing

Episode 51 - Jean Rabatin on Optimizing Industrial Sales Channel and Avoiding Channel Conflict

Avoiding Channel Conflict and Driving Profitable, Sustainable Growth - POV From Both Sides of Sales Channel in Automation and Machinery Sales - - Jean Rabatin in Episode 51 of the Industrial Growth Institute Podcast
Summary
Jean Rabatin, a successful woman in sales and a long-time professional in the automation industry, discusses her journey from selling metal to robotics.
Jean and host Ed Marsh explore the significance of live events and trade shows in building relationships and generating leads, the challenges of transitioning from technical to commercial conversations, and the importance of understanding partner dynamics in sales.
Jean shares insights on:
managing trade show leads
complexities of channel partnerships
evolving landscape of automation technology
different types of industrial sales channel
specifics of partnerships in robotic integration
importance of support culture over exclusivity.
They explore the concept of ideal partner profiles, the significance of training and onboarding, and the impact of innovative co-marketing (manufacturer and channel partner) strategies in the industrial space.
The discussion also touches on personal well-being, the future of AI in robotics, competition in automation, and trends in US automation, providing insights into how companies can adapt to evolving market demands.
Takeaways
Jean's career spans over 22 years in automation and robotics.
The importance of live events for personal connections in business.
Transitioning from technical discussions to commercial conversations is crucial.
Feedback from partner events is essential for future planning.
Trade shows serve as networking opportunities rather than just sales events.
Managing trade show leads effectively is key to success.
Selling custom automation presents unique challenges compared to traditional sales.
Women in industrial sales bring a different perspective and can be successful.
The move to automation requires understanding both direct and channel sales.
Building technology partnerships can enhance market offerings and growth.
Successful integrators have relationships with various robot companies.
Support culture is crucial in differentiating companies.
Training programs should be tailored to the partner's existing knowledge.
AI will play a significant role in the future of robotics.
The market is shifting towards companies that can't find workers.
Automation audits can help identify opportunities for integration.
Innovative marketing strategies can enhance visibility and engagement.
Personal well-being practices are essential for maintaining focus.
Adaptability is key for integrators in changing industries.
Takeaway Quotes from Jean Rabatin
"We want them to know who we are."
"You have to earn that credibility."
"We don't ask or demand for exclusivity."
"You have to have some kind of value add."
"We need robots to manufacture in this country."
Check out Jean's Yaskawa Motoman Robotics website.
LinkedIn: Jean Rabatin and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @Yaskawa and @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Jean Rabatin and Her Journey 02:18 The Importance of Live Events in Business 04:22 Transitioning from Technical to Commercial Conversations 08:31 Feedback and Future Plans for Partner Events 10:29 The Role of Trade Shows in Networking and Lead Generation 12:15 Managing Trade Show Leads Effectively 16:46 The Challenges of Selling Custom Automation 19:42 Women in Sales - Breaking into Sales in a Male-Dominated Industry 24:10 The Move to Automation and Channel Sales 28:56 Navigating Complex Channel Partnerships 32:32 Building Technology Partnerships for Growth 35:15 Avoiding Channel Conflict in Sales 39:34 Navigating Robot Partnerships 42:00 The Importance of Support Culture 45:04 Defining Ideal Partner Profiles 48:48 Training and Onboarding New Partners 51:02 Selling Beyond Technical Features 53:00 Innovative CO-Marketing Strategies 58:47 The Future of AI in Robotics 01:01:34 Understanding Competition in Automation 01:03:39 Trends in US Automation 01:08:34 Resources for Automation Insights
 
Explore the Overall Revenue Effectiveness™ Framework for Industrial Revenue Growth and and the role of channel management to drive growth and preempt channel conflict
 
#ChannelConflict #ChannelSales #SalesChannel #IndirectSalesChannel #Distribution #Integrators #IndustrialSales #MachinerySales #Robots #Automation #Yaskawa #Kuka #CalvaryAutomation

Episode 50 - Mike Miller on the Evolution from Engineer to Sales to Sales Manager

From Air Force ICBM Missaleer to Sales Engineer and on to Sales Manager - Mike Miller in Episode 50 of the Industrial Growth Institute Podcast
Summary
Mike Miller is an Air Force Veteran and experienced capital equipment sales engineer. Today, he's a sales manager with a unique background in aerospace engineering and military service.
Mike and Ed discuss the common sales challenges faced by industrial manufacturers, the importance of balancing technical knowledge with sales excellence, and the transition from military to sales roles. Mike shares insights on effective sales training, the significance of understanding customer needs beyond technical specifications, and the challenges of moving into management.
The conversation highlights the importance of:
relationship management
proper onboarding
lessons learned from military discipline that can be applied to sales
dual roles of leadership and management in sales
importance of accountability and control.
Mike shares insights on transforming traditional sales processes, managing customer relationships, and the significance of hiring and developing sales talent. The discussion also covers pricing strategies, sales compensation, and the challenges facing US manufacturing. Miller concludes with practical advice for sales leaders seeking to improve their processes and outcomes.
Takeaways
Sales challenges in manufacturing are common and multifaceted.
Mike Miller's background in aerospace engineering and military service informs his sales approach.
Transitioning from military to sales requires adaptability and a willingness to learn.
Preconceptions about sales often differ from the reality of the role.
Understanding customer needs is more important than technical details in sales. - Effective sales training and onboarding are crucial for success.
Building relationships with customers is key to successful sales.
Management requires a different skill set than being a top-performing sales rep.
The importance of feedback and buy-in when implementing changes in sales strategy.
Lessons from military discipline can enhance sales performance and management. Leadership and management are both essential in sales roles.
Accountability comes in different forms: management vs leadership.
Hope should be replaced with a proactive mindset.
Qualifying opportunities is crucial for effective sales.
Sales engineers must balance technical knowledge with sales skills.
Every customer interaction should provide value.
Understanding market trends is vital for sales success.
Hiring great salespeople requires a focus on technical aptitude.
Sales compensation should align with intrinsic and extrinsic motivations.
Building empathy within teams enhances collaboration and understanding.
Takeaway Quotes from Mike Miller
"You have to keep getting down to why does this matter?"
"Management is a mindset and a skill set."
"Hope is no longer in our language."
Check out Mike's AZO, Inc. website.
LinkedIn: Mike Miller and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @AZOInc. and @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Sales Challenges in Manufacturing 01:20 Mike Miller's Unique Background 05:14 Transitioning from Military to Sales 09:14 Preconceptions of Sales vs. Reality 14:40 The Importance of Business Over Technical Details 20:32 Navigating Customer Conversations 25:44 The Role of Sales Training and Onboarding 31:09 Lessons from the Air Force in Sales 36:47 Transitioning to Sales Management 43:14 Navigating Peer-to-Boss Dynamics 45:48 Leadership vs Management in Sales 48:27 Transforming Sales Processes 51:16 Accountability and Control in Sales 54:32 Managing Customer Relationships 58:53 Sales Team Dynamics and Market Focus 01:02:08 Hiring and Developing Sales Talent 01:06:04 Pricing Strategies and Value Perception 01:09:34 Sales Compensation and Motivation 01:13:31 Balancing Individual and Team Dynamics 01:17:10 The Value of Sales Experience for Future Generations 01:20:00 Concerns for the Future of US Manufacturing 01:24:02 Final Advice for Sales Leaders
 
Explore the Overall Revenue Effectiveness™ Framework for Industrial Revenue Growth and why the sales management role is critical
 
And tips on hiring a great sales manager.
 
#SalesEngineer #TechnicalSales #IndustrialSales #MachinerySales #SalesTraining #SalesCoaching #SalesRoleplay #SalesManager #SalesManagement #SalesHiring #Veteran #AirForce

Episode 49 - Eric Rose on Innovation Management and New Product Development

Episode 49 - Eric Rose on How to Turn Innovation Management and New Product Development into a Revenue Growth Superpower
Summary
In this episode of the Industrial Growth Institute podcast, Ed Marsh and Eric Rose, a product innovation expert, delve into the critical role of new product innovation in driving business growth.
They explore the concept of 'market anguish'—the frustrations consumers face with existing products—and how understanding this anguish can lead to successful product development. Eric shares insights from his extensive experience in product innovation, emphasizing the importance of qualitative research and stakeholder engagement.
The conversation also touches on:
the balance between creativity and realism in product ideation
evolution of manufacturing processes
the multifaceted world of product innovation, particularly within the context of industrial manufacturing
ideation techniques
challenges of product innovation
the integration of product management with innovation efforts.
They explore the role of product innovation in corporate strategy, the significance of licensing intellectual property, and the commitment to STEM education. The discussion also touches on expert witness work in product liability, the impact of reshoring on innovation, and the implications of AI in product development.
Finally, they address pricing strategies and resources for product innovation, culminating in key takeaways for industrial manufacturers.
Takeaways
New product innovation is essential for business growth.
Market anguish reflects consumer frustrations with existing products.
Qualitative research is crucial for understanding market needs.
Stakeholder engagement can reveal hidden opportunities.
Balancing creativity with realism is key in product development.
Successful innovation requires a sustained R&D effort.
Understanding the end-user experience drives product success.
Ethnographic research can uncover valuable insights.
Companies can innovate without hiring external experts.
Effective brainstorming can lead to breakthrough ideas. Innovative ideation requires a no-criticism approach.
Changing manufacturing processes can lead to significant product innovation.
Companies often limit themselves to their existing markets.
Staying aware of market changes is crucial for survival.
Identifying societal and technological trends can drive innovation.
Product management and innovation should work closely together.
Planning is essential to avoid financial pitfalls in product development.
Product innovation should have representation at the executive level.
Most patents go unused, highlighting the need for strategic monetization.
Looking outside the organization can uncover new growth opportunities.
Takeaway Quotes from Eric Rose
"Product management and innovation should be hand in hand."
"95% of all patents in the US are never monetized."
"Look outside the box for growth opportunities."
Check out Eric's Pinnacle Product Innovation website.
LinkedIn: Eric Rose and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Growth and Innovation 02:53 Understanding Market Anguish 11:23 The Role of Research in Product Development 19:33 Navigating Innovation in Industrial Manufacturing 27:11 Case Study: Workplace Safety Devices 34:19 Balancing Creativity and Realism in Innovation 36:37 Innovative Ideation Techniques 39:06 The Challenge of Product Innovation 41:28 Integrating Product Management and Innovation 45:06 The Role of Product Innovation in Corporate Strategy 47:51 Navigating the Innovation Process 51:50 Licensing and Monetizing Intellectual Property 53:51 Commitment to STEM Education 56:51 Expert Witness Work in Product Liability 01:00:09 Reshoring and Its Impact on Innovation 01:01:28 The Role of AI in Product Development 01:08:41 Pricing Strategies in Product Innovation 01:10:33 Resources for Product Innovation 01:12:21 Key Takeaways for Industrial Manufacturers
 
Learn About the Overall Revenue Effectiveness™ Framework for Industrial Revenue Growth
 
#InnovationManagementAndNewProductDevelopment #Innovation #NewProductDevelopment #RandD #ResearchAndDevelopment #ProductInnovation #Podcast #RevenueGrowth #IndustrialManufacturing #ManufacturingRevenueGrowth #MarketResearch #IndustrialGrowth #StakeholderEngagement #QualitativeResearch #BusinessStrategy #Manufacturing #IdeationTechniques #Ideation #CorporateStrategy #Licensing #Reshoring #AIinManufacturing #Pricing #PricingStrategies

Episode 48: Family Dynamics & Business Success - A Conversation with Josh Gentine

Episode 48 - Josh Gentine on Navigating the Challenges of Family and Business in Family Business
Summary
In this conversation, Ed Marsh and Josh Gentine explore the complexities of family-owned businesses, focusing on the challenges of succession planning, the importance of outside experience, and the balance between preserving legacy and embracing innovation.
Josh's family business and governance insights are built on many personal experiences, including growing up in Sargento Foods, a very successful family business based in Wisconsin, where he remains a 3rd generation family owner and board member.
He shares insights from his work with family enterprises, emphasizing the need for effective communication, governance, and the role of independent directors in fostering growth and adaptation in a changing business landscape.
They explore the complexities of family businesses, emphasizing:
the importance of independent directors, servant leadership
continuous learning
need for families to invest in their dynamics to ensure harmony and success in their enterprises
challenges of managing talent within family businesses
the significance of evaluating business performance against family values.
Independent Directors' Value and Contribution
Josh also shares his background growing up around a family business, playing football for Notre Dame, launching an internet company, and his detour as an aspiring priest.
Takeaways
Family businesses face unique challenges during generational transitions.
Succession planning is crucial for maintaining family harmony and business continuity.
Outside experience is essential for the next generation in family businesses.
Effective communication is often lacking in family enterprises.
Balancing legacy preservation with innovation is a common struggle.
Independent directors can provide valuable oversight and guidance.
Understanding family dynamics is key to resolving conflicts.
The entrepreneurial spirit is often passed down through generations.
Digital transformation is necessary but can be met with resistance.
Creating a culture of trust and understanding is vital for family business success.
Independent board members alleviate family decision-making pressure.
Creating a professional development committee is essential.
Investing in family dynamics leads to business success.
Transitioning to a business family mindset is crucial.
Continuous learning fosters growth and adaptability.
Evaluating return on equity is necessary for sustainability.
Understanding family dynamics is key for independent directors.
Sacred cows in organizations can hinder progress.
Independent directors can challenge and support family businesses.
Embracing a stakeholder mentality enhances community relations
Takeaway Quotes from Josh Gentine
"Sacred cows can be hard to address."
"Invest in your family dynamics."
"Transition from a family business to a business family."
Check out Josh's Bench Consulting website, and Family.inc.
LinkedIn: Josh Gentine and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @EdMarsh
Show Transcript 
Chapters
0:00 Navigating Family Business Transitions 12:09 The Entrepreneurial Spirit in Family Enterprises 24:04 Balancing Legacy and Innovation 35:58 The Role of Governance and Independent Directors 43:41 Navigating Family Dynamics in Business 49:58 The Role of Independent Directors 50:26 Embracing Servant Leadership 54:55 The Importance of Continuous Learning 01:00:27 Evaluating Business Performance 01:02:31 Advice for Independent Directors 01:08:29 Common Challenges Across Industries 01:10:04 Managing Talent in Family Businesses 01:20:42 Investing in Family Dynamics
 
Learn More About Ed Marsh's Work as an Independent Corporate Director
 
#FamilyBusiness #SuccessionPlanning #Entrepreneurism #Legacy #LegacyPreservation #Governance #IndependentDirectors #FamilyDynamics #DigitalTransformation #ConflictResolution #BusinessGrowth #FamilyBusinessChallenges #ServantLeadership #ContinuousLearning #TalentManagement #Consulting #MultigenerationalEnterprise

Episode 47 - Jake Meth on How To Avoid Crappy Thought Leadership Content

Episode 47 - Jake Meth Puts on His Editor Cap and Coaches on How to Create Effective Thought Leadership Content
Summary
In this episode, Ed Marsh and Jake Meth discuss the evolution of thought leadership and journalism, exploring Jake's journey from traditional media to entrepreneurship.
They delve into the importance of authenticity, the role of a fractional editor in chief, and the challenges of navigating the changing media landscape.
The conversation highlights:
the need for consistency in thought leadership and the impact of bias in modern journalism
the importance of strategic planning and effective communication
the evolving landscape of media and communication in business
the challenges of information overload
importance of unique storytelling
the balance between opinion and fact in corporate communication.
Jake shares insights on the role of personal well-being in creativity, the dynamics of entrepreneurship, and the necessity of hiring journalists for effective content creation. They also touch on the impact of AI on writing and the future direction of content strategies, emphasizing the need for authenticity and thoughtful engagement in business communication.
Takeaways
Thought leadership requires a commitment to consistent messaging.
Authenticity in content creation is crucial but often misinterpreted.
Companies often underestimate their ability to share valuable insights.
The media landscape has changed, creating more competition for attention.
Bias in journalism is more visible, affecting audience trust.
Maximizing the power of thought leadership involves understanding your unique perspective.
Engaging content should challenge conventional thinking.
A strategic approach is necessary for long-term success in thought leadership.
The role of a fractional editor is to provide honest feedback.
Navigating fear and skepticism is essential for companies to share their stories.
Companies can leverage media to tell their own stories.
Content doesn't resonate, no matter how much money you spend.
Don't conflate opinion with fact; ground opinions in fact.
Improv and hiking help with creativity and problem-solving.
Many companies fail to seize the opportunity of in-house media.
Hiring a journalist can help overcome content creation hurdles.
Reading widely helps develop a sense of good writing.
AI can help with research but lacks creativity.
Building a personal brand can benefit both individuals and companies.
Takeaway Quotes from Jake Meth
"Anyone at any executive level has something interesting to say."
"Publishing one op-ed is just not a thought leader make."
Check out Jake's website.
LinkedIn: Jake Meth and Ed Marsh
Twitter: Jake Meth and Ed Marsh
Instagram: Ed Marsh
YouTube: @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Thought Leadership and Journalism 03:07 Jake Meth's Journey from Journalism to Entrepreneurship 06:13 Experiences During the Arab Spring 09:05 Transitioning from Traditional Media to New Models 11:57 The Role of a Fractional Editor in Chief 15:05 Honesty vs. Authenticity in Content Creation 18:03 Target Audience and Industry Focus 21:01 The Importance of Consistency in Thought Leadership 23:49 Navigating the Changing Media Landscape 26:54 Defining the Scope of Thought Leadership 30:10 Strategic Planning for Effective Thought Leadership 32:50 The Impact of Bias in Modern Journalism 44:28 Navigating Information Overload 45:30 The Power of Media for Companies 48:43 Opinion vs. Fact in Business Communication 50:44 The Importance of Personal Well-being 53:35 Entrepreneurship and Family Dynamics 56:18 Defining Marketing, PR, and Communications 59:05 The Role of Journalists in Content Creation 01:02:33 Resources for Thought Leadership 01:05:15 Writing Style and Precision 01:09:38 The Shift to Video Content 01:11:01 The Role of AI in Content Creation 01:18:30 Future Directions for Business and Content
 
Content Marketing is Changing Fast!
Thought leadership content must be effective as traditional playbook of SEO and optimized blog articles is quickly deteriorating in performance.
 
Thought leadership provides leaders an opportunity to build trust and share the culture of a company.
 
Here's more on how content marketing is changing. And more on a helpful content framework - KUUL Content.
 
And here's a guide on the rapidly evolving changes in marketing and sales.
 
#ThePowerOfThoughtLeadership #ThoughtLeadershipContent #ThoughtLeadershipMarketing #HowToBecomeAThoughtLeader #Journalism #Media #ContentCreation #Authenticity #Bias #OpinionWriting #OpinionPieces #Entrepreneurship #AI #B2BMarketing #PR #ThoughtLeadership #ThoughtLeader

Episode 46 - Stephen Sears with Tips on Maximizing Your Investment in Industrial Trade Associations

Episode 44 - Stephen Sears details how industrial manufacturers can extract maximum business value from trade associations
Summary
In this episode of the Industrial Growth Institute podcast, Ed Marsh and Stephen Sears discuss the importance of maximizing trade association memberships for industrial manufacturers.
They explore the multifaceted role of trade associations, the significance of networking, and the evolving value propositions that associations must offer to retain members.
The conversation explores various topics including:
the challenges of engaging different generations
the need for effective marketing strategies
the critical role of advocacy in navigating regulatory changes.
Stephen shares insights on how associations can adapt to the changing landscape and continue to provide value to their members. He sees value in professional development, grant opportunities, networking, and aggregating knowledge.
They discuss the importance of engagement in associations for career growth, the challenges of navigating multiple memberships, and the overlooked value of collaboration within the industry. The conversation also touches on the impact of AI, the future of trade associations, and the critical need for skilled labor in manufacturing.
Takeaways
Trade associations help industries do what they can't do alone.
Networking is a key benefit that members often overlook.
Engagement is essential for members to extract value from associations.
Associations must evolve their value propositions to remain relevant.
Face-to-face interactions are crucial for building relationships.
Marketing strategies in the industrial space need improvement.
Advocacy efforts are often unrecognized but vital for member protection.
Generational differences impact how members engage with associations.
Associations must adapt to technological changes and communication preferences.
The regulatory landscape is constantly changing, requiring proactive advocacy.
Engagement in trade associations can significantly enhance professional development.
Networking opportunities at association meetings can lead to job prospects.
Associations play a vital role in helping members navigate grant opportunities.
Younger professionals can gain valuable insights by participating in working groups.
Investing time in association activities is crucial for maximizing benefits.
Trade associations can help members understand industry trends and statistics.
Manufacturing careers are evolving and require adaptability and continuous learning.
AI can streamline processes but should not replace human expertise.
The future of trade associations may involve new technologies and approaches.
Collaboration within the industry can lead to better outcomes for all members.
Takeaway Quote from Stephen Sears
"They are your competitors 360 of the other days of the year, but for these five days, they're your colleagues."
Check out Stephen's website.
LinkedIn: Stephen Sears and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: @eifsindustrymembersassocia5665 and @EdMarsh
Show Transcript 
Chapters
00:00 Maximizing Trade Association Memberships 05:59 Networking and Member Engagement 12:00 Adapting to Generational Changes 17:51 Advocacy and Its Impact 24:07 The Future of Trade Associations 44:01 The Impact of Emissions and Urban Regulations 49:11 The Role of Associations in Grant Opportunities 56:19 Addressing Member Interests Beyond Core Focus 01:02:07 Career Opportunities in Modern Manufacturing 01:11:19 The Future of Trade Associations 01:19:47 The Overlooked Value of Trade Association Memberships
 
#TradeAssociations #IndustrialManufacturing #Networking #Advocacy #MembershipValue #ManufacturingMarketing #IndustrialMarketing #GenerationalChanges #RegulatoryIssues #IndustryInsights #TradeAssociation #ProfessionalDevelopment #Grants #TheFutureOfTradeAssciations #IndustryStatistics

Episode 45 - Jim Kraus on a Buyer Persona as a Single Source of Marketing and Sales Truth

Episode 45 - Jim Kraus on why a Killer Buyer Persona Improves Marketing and Sales
Summary
In this episode, Ed Marsh and Jim Kraus discuss the importance of understanding buyer personas and high consideration or complex buying decisions in the industrial manufacturing space.
They explore the need for updated buyer persona frameworks, the significance of empathy in marketing, and the impact of growing buying teams on decision-making.
Jim shares insights from his extensive experience in market research and emphasizes the importance of addressing buyer fears and concerns to facilitate better decision-making.
The conversation also highlights:
common mistakes companies make in developing buyer personas
the five rings of buying insight as a framework for effective buyer research
intricacies of understanding buyer insights
the application of buyer personas
a structured approach to translating insights into actionable messaging through workshops
They discuss the need for organizations to engage in direct conversations with recent buyers to gather unbiased information including direct quotes to enhance credibility and communication strategies. Finally they discuss the role of AI in analyzing buyer persona data is explored. Kraus concludes by highlighting the long-term value of investing in buyer personas for organizations looking to enhance their marketing and sales efforts.
Takeaways
Industrial manufacturers often hold misconceptions about their buyers.
Understanding buyer needs is crucial for effective marketing and sales.
Empathy is key in understanding what buyers are looking for.
Outcomes should focus on what buyers want to achieve, not just product features.
The buyer persona framework needs to be actionable and relevant.
Research should inform business decisions, not just exist for its own sake.
A well-crafted buyer persona can help preempt buyer fears and concerns.
Growing buying teams complicate the decision-making process.
Addressing buyer fears can position a company as a trusted advisor.
The five rings of buying insight provide a structured approach to understanding buyers.
Buyer personas should encompass both organizational and individual factors.
Identifying perceived barriers can differentiate your offerings.
Decision criteria vary across different roles in the buying committee.
The buyer's journey includes steps, information sources, and key influencers.
Direct interviews with recent buyers provide unbiased insights.
Quotes from buyers enhance the credibility of findings.
Buyer personas can be applied to various high-consideration purchases.
A structured messaging workshop can align team efforts around buyer needs.
Narrowing down insights to key themes helps in creating focused marketing strategies.
Interviews should be conducted without preconceived notions.
The interviews provide irrefutable insights into buyer decisions.
AI can efficiently analyze buyer persona data but should not replace human insights.
Investing in buyer personas eliminates marketing waste.
Understanding buyers deeply leads to better marketing strategies.
The investment in buyer personas pays off over the long term.
Companies should not guess about their buyers' needs.
Takeaway Quotes from Jim Kraus
"A buyer persona will help to align your entire organization around one source of buyer truth."
Check out Jim's website
LinkedIn: Jim Kraus and Ed Marsh
Twitter:  Ed Marsh
Instagram: Ed Marsh
YouTube: @BuyerPersonaInstitute and @EdMarsh
Show Transcript 
Chapters
00:00 Introduction to Buyer Research 05:50 The Importance of Buyer Persona Updates 12:26 The Engineering Process in Buyer Personas 20:51 Addressing Buyer Fears and Concerns 27:42 The Five Rings of Buying Insight 36:09 The Importance of Buyer Interviews 44:43 Applying Buyer Personas Beyond B2B 54:40 Leveraging Survey Research for Buyer Insights 01:00:00 Mastering Buyer Interviews: The Art of Listening 01:06:00 The Role of AI in Buyer Persona Development 01:18:04 The Long-Term Value of Buyer Personas
 
#BuyerPersona #BuyerPersonas #buyingjourney #BuyerResearch #MarketResearch #BuyerPersonaInstitute #Podcast #AdeleRevella #JimKraus #EdMarsh