Industrial Growth Institute

Episode 11 - Scott MacKenzie on Podcasting for Business Development

Scott MacKenzie on the Business Development Power of Podcasting - Industrial Growth Institute Podcast Episode 11
Summary
Scott MacKenzie is the founder of Industrial Talk, an innovative and disruptive business that he founded after taking a company public, retiring, and wanting to do something fun.
But the business builds on a crucial discovery he made when he was running a staffing agency. It was a tough, competitive market in which he had difficulty differentiating his offering from others. Until he struck upon the idea of creating a podcast through which he could reach prospects and provide resources for the market as well.
Our conversation covers:
importance of marketing and media in the industrial sector
Scott's journey from a background in operations to becoming a marketing and salesperson
power of content and media in building relationships and trust with customers
how he uses media as a prospecting tool
Scott's super-efficient workflow and automation strategies
importance of diversifying revenue streams
his business model, including speaking engagements, training, content development, and white-label services
the importance of aligning marketing and sales
best and worst practices at trade shows
his Superbowl performance!
insights into the integration of marketing and sales and the role they play in revenue growth
exciting opportunities for business and offering guidance for industrial manufacturers.
Takeaways
Marketing and media are crucial for industrial companies to build relationships and trust with customers.
Content creation and media can be used as effective prospecting tools.
Building relationships through conversations and storytelling is key to successful marketing.
Efficient workflows and automation can streamline content creation and distribution.
Diversifying revenue streams is important for long-term business success.
Aligning marketing and sales is crucial for business success.
Trade shows require effective follow-up strategies to maximize impact.
Content development should be tailored to address customer problems and provide value.
The integration of marketing and sales is essential in the modern buying journey.
Check out Scott's website
LinkedIn: Scott MacKenzie and Ed Marsh 
Twitter: Scott MacKenzie and Ed Marsh
Instagram: Ed Marsh
YouTube:  @IndustrialTalk  and  @EdMarsh 
 
Show Transcript 
 
Chapters
00:00 Introduction and Background04:15 Transition to Marketing and Media08:13 The Importance of Marketing in the Industrial Sector11:18 Shift from Operations to Marketing16:38 The Power of Content and Media23:55 Extracting Stories and Getting People to Talk25:56 Efficient Workflow and Automation31:47 Diversified Revenue Streams38:25 Overview of Scott MacKenzie's Business Model39:18 Speaking Engagements and Training40:44 Content Development and Industrial Academy42:46 Best and Worst Practices at Trade Shows46:07 Maximizing Impact at Trade Shows48:19 Scott MacKenzie's Hobbies and Fun Activities51:40 Scott MacKenzie's White Label Services54:14 The Importance of Aligning Marketing and Sales56:49 The Role of Marketing and Sales in the Buying Journey01:00:25 The Integration of Marketing and Sales01:02:27 The Role of Marketing and Sales in Revenue Growth01:05:11 Exciting Opportunities for Business01:09:36 How to Contact Scott MacKenzie01:10:05 Scott MacKenzie's Guidance for Industrial Manufacturers
 
#podcast #BusinessDevelopment #Prospecting #LeadGeneration #TradeShows #Broadcasting #SalesLeads #Coldcall #Media #ManufacturingMarketing #IndustrialSales #B2BSales #IndustrialMarketing #Innovation #CompetitiveBusiness #Differentiation

Episode 10 - Trista Morrison on Strategic Communications as a Forcing Function for Corporate Strategy

Trista Morrison Talks Strategic Communications, Strategy and Boards - Industrial Growth Institute Podcast Episode 10
Summary
Trista Morrison, a seasoned bio-pharmaceutical executive, started her career as a biologist and journalist. In this episode she discusses the intersection of communications and strategy in the industrial growth context.
Trista emphasizes the importance of understanding the company's vision, mission, and strategy in order to effectively communicate with various audiences. She explores the concept of story making, which involves aligning communications with the company's strategy and purpose and highlights the significance of the 'so what' factor in storytelling.
The conversation also touches on:
Trista's perspective as an independent director
the need to convey the impact and value of products or services
role of communications in internal engagement and the importance of prioritizing different audiences based on business needs
content creation requires discipline and the ability to overcome writer's block
positioning company leaders as industry experts requires understanding the target audience and finding ways to fit into their interests
differentiating strategy and execution, and communications should support corporate goals
a dedicated communications function depends on the size and needs of the company
role of consultants and agencies can provide strategic guidance and execution support
impact of AI on communications will vary depending on the industry and its sensitivities
crafting communications to attract and retain talent involves understanding the target audience and reaching them through the appropriate channels
Boy scouts, hobbies, reading and dogs
Takeaways
Communications is a forcing function for strategy, as it prompts companies to define their approach and philosophy on various topics.
Story making is an important aspect of communications, as it involves aligning communications with the company's strategy and purpose.
The 'so what' factor is crucial in storytelling, as it helps convey the impact and value of products or services.
Communications plays a vital role in internal engagement, ensuring that employees have the information they need to make decisions aligned with the company's vision and strategy.
Prioritizing different audiences based on business needs is essential, as it allows companies to effectively communicate with the right stakeholders at the right time. Communications should always be respectful and considerate of the audience.
Overcoming writer's block requires discipline and setting a timer to get started
Positioning company leaders as industry experts requires understanding the target audience and finding ways to fit into their interests
Strategy and execution should be clearly differentiated, and communications should support corporate goals
The need for a dedicated communications function depends on the size and needs of the company
Consultants and agencies can provide strategic guidance and execution support
The impact of AI on communications depends on the industry and its sensitivities.
Crafting communications to attract and retain talent involves understanding the target audience and reaching them through the appropriate channels.
Transparency and authenticity are key in communicating the company's story and values to potential employees.
Resources for learning about communications include organizations like PRSA and NRI, as well as seminars and courses.
Communications is a critical function in setting and achieving corporate goals.
Trista's website
LinkedIn: Trista Morrison and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube: Ed Marsh
Show Transcript
00:00 Introduction and Overview09:05 Communications as a Forcing Function for Strategy 25:55 The Importance of Storytelling in Industrial Growth 28:09 Internal Engagement: Communicating the Company's Vision 30:29 Prioritizing Audiences for Effective Communication 33:04 Respectful Communications 34:37 Overcoming Writer's Block 35:04 Content Creation Strategies 36:28 Positioning as Industry Experts 45:15 Differentiating Strategy and Execution 49:26 Communications Supporting Corporate Goals 55:03 Considerations for a Dedicated Communications Function 01:02:19 The Impact of AI on Communications 01:03:40 Crafting Communications to Attract and Retain Talent 01:08:00 Resources for Learning about Communications 01:10:20 The Reputational Risk of Unethical Decisions in Business Communications 01:12:10 Building Authentic Relationships with Customers 01:17:25 The Critical Role of Communications in Setting and Achieving Corporate Goals
#podcast #Communications #StrategicCommunications #Strategy #BoardDirector #Biotech #Journalism #Marketing #ContentMarketing #PublicRelations

Episode 9 - Mario Trafficante on NCAA Athletes in Sales and Sales Management KPIs

Mario Trafficante on Athletes in Sales & Managing Sales KPIs: Industrial Growth Insitute Podcast Episode 9
Summary
In Episode 9, host Ed Marsh interviews Mario Trafficante, a former NCAA hockey player, and an expert in technology optimization and sales.
Mario shares his background and expertise in B2B sales and discusses the importance of routine, discipline, and constant improvement in his personal and professional life.
The conversation covers many topics including:
the connection between hockey and sales
his career transition from finance to sales and the value of a finance background in enterprise sales
attributes of collegiate athletes that excel in sales and the role of competitiveness in driving sales performance
perspectives on sales management
value of team sports in developing a competitive nature and camaraderie among salespeople
different sales methodologies and the importance of tailoring them to individual salespeople
the role of compensation in driving sales results and the need for a balance between earning potential and company goals.
Mario highlights the significance of activity and quality conversations in sales, as well as the importance of coaching and developing sales reps. He also discusses the challenges of managing underperforming sales reps and the need for accountability.
Mario shares his perspective on effective pipeline reviews, avoiding deals that end in no decision, and the role of marketing in supporting sales. He concludes by discussing the future of sales and the importance of personal interaction in a world driven by technology.
Takeaways
#TeamSports can help #salespeople tap into their competitive nature and create camaraderie.
#SalesMethodologies should be tailored to individual salespeople and their strengths.
#Compensation plays a crucial role in driving #SalesResults, and a balance must be struck between earning potential and company goals.
Activity and quality conversations are key metrics to track in sales.
Coaching and developing sales reps is essential for their success.
Managing underperforming sales reps requires a case-by-case approach and providing support through #PerformanceImprovementPlans (PIPs).
Effective #PipelineReviews involve digging into the details of deals and providing guidance to move them forward.
Avoiding deals that end in no decision requires asking the right questions and understanding the customer's needs.
Marketing should focus on providing qualified leads and creating tailored, focused events to engage customers.
#SalesEnablement tools should support personalized, intimate conversations with customers.
Personal interaction and building relationships are still crucial in sales, despite advancements in technology.
#AI will have a significant impact on sales, but human interaction will remain essential.
Continuing education in sales is important, and learning from various sources, such as military books, can provide valuable insights.
Success in #ComplexSales requires knowledge, courtesy, curiosity, and #accountability.
Check out Mario's website
LinkedIn: Mario Trafficante and Ed Marsh
Twitter: Ed Marsh
Instagram: Ed Marsh
YouTube:  @EdMarsh 
 
Show Transcript
 
Guide to Episode
00:00 Introduction and Overview 00:29 Mario Trafficante's Background and Expertise 05:03 The Importance of Routine and Discipline 06:49 The Connection Between Hockey and Sales 13:09 The Value of Finance Background in Enterprise Sales 15:08 Direct Sales vs. Channel Sales 21:46 Transitioning from Sales Rep to Sales Manager 23:13 Maintaining Relationships and Losing Friends as a Sales Manager 25:42 The Role of Sales Managers in Company Success 27:13 Attributes of Collegiate Athletes that Excel in Sales 29:33 Selling to Manufacturing, Food, and Logistics Industries 31:15 The Importance of Prospecting and Discipline 35:06 The Role of Competitiveness in Sales 36:20 The Value of Team Sports in Sales 38:09 Sales Methodologies and Training 40:13 The Role of Compensation in Driving Sales Results 43:52 The Importance of Activity and Quality Conversations in Sales 46:47 Managing Underperforming Sales Reps 50:14 Effective Pipeline Reviews 53:03 Avoiding Deals that End in No Decision 55:46 Coaching and Developing Sales Reps 58:07 Marketing's Understanding of Sales 59:43 Sales Enablement Tools 01:03:01 The Importance of Personal Interaction in Sales 01:05:11 The Future of Sales and AI 01:08:19 Keys to Success in Complex Sales
#podcast #hockey #salescoaching #salesmanagement #salesKPIs #athletesinsales #ncaahockey #managedservices #b2bsales #industrialsales #salesmetrics

Episode 8 - Jeff Cross on Creating a Media Publishing Function

Jeff Cross on Industrial Media and Publishing: Industrial Growth Insitute Podcast Episode 8
Summary
Ed Marsh is joined by Jeff Cross, the media director of ISSA, the Industrial Cleaning Trade Association for Episode 8 of the Industrial Growth Institute.
Jeff shares his career journey and how he transitioned from journalist to owning a cleaning and restoration firm to later becoming a content creation machine.
Jeff discusses the importance of content marketing and the editorial ethos of  @ISSAMediaTV 's media brands and touches on the misconceptions about industrial cleaning and the value of cleanliness in the #IndustrialManufacturing space. He provides insights on starting and maintaining a content creation effort, as well as the role of #LinkedIn groups in promoting content and the importance of incremental wins in #ContentMarketing.
The conversation takes many turns as Jeff shares practical insights on finding valuable information, optimizing engagement with #TradeAssociations, making #TradeShows more effective, hiring journalists for content marketing, workflow, and time management, remote work and team collaboration, the role of #AI in #ContentCreation, and adding a publishing function to a B2B company.
Takeaways
Content marketing is an effective way to promote a brand and provide solutions to industry pain points.
Creating a publishing brand requires focusing on a specialty and providing valuable content to the target audience.
Publishing content outside of core expertise is possible by soliciting outside expertise, conducting interviews, and facilitating the exchange of information.
LinkedIn groups can still have value, but moderation is necessary to filter out promotional content.
Incremental wins in content marketing, such as reaching a targeted audience, are more important than aiming for viral success. Stay informed by listening to #podcasts, reading blogs, and watching videos related to your industry.
Engage with trade associations to network and learn from others in your industry.
Make trade shows more effective by being engaging, personable, and interested in others.
Consider hiring #journalists for content marketing to bring a journalistic approach and storytelling skills to your company's content.
Manage your time effectively and create a workflow that allows for consistent content creation.
Embrace remote work and leverage technology to collaborate with your team.
Be cautious and intentional when using AI in content creation, ensuring authenticity and transparency.
Check out Jeff's website
LinkedIn: Jeff Cross and Ed Marsh
Twitter: Jeff Cross and Ed Marsh
Instagram: Ed Marsh
YouTube:  @ISSAMediaTV  and  @EdMarsh 
Show Transcript
00:00 Introduction and Background 02:28 Jeff's Career Journey 06:19 Transition to Content Creation 08:36 Editorial Ethos 12:15 About ISSA 13:32 Misunderstandings about Industrial Cleaning 15:12 Importance of Cleanliness in Industrial Manufacturing 19:43 Starting and Maintaining a Content Creation Effort 25:07 Creating Content Outside of Core Expertise 28:09 Publishing vs. Content Marketing 31:25 Value of LinkedIn Groups 32:41 Importance of Incremental Wins 33:01 Finding Valuable Information 35:08 The Value of Listening to Podcasts 36:19 Optimizing Engagement with Trade Associations 39:28 Making Trade Shows More Effective 40:52 Hiring Journalists for Content Marketing 44:27 Workflow and Time Management 46:31 Remote Work and Team Collaboration 48:46 The Role of AI in Content Creation 52:59 The Concerns and Excitement around AI 57:53 Connecting with Jeff Cross 01:00:18 Adding a Publishing Function to a B2B Company
#podcast #IndustrialMedia #MediaAndPublishing #IndustrialMarketing #ManufacturingMarketing #B2BMarketing #MarketingVideo #VideoMarketing #Podcasting #ContentMarketing #InboundMarketing #PublishingCompany #MediaPublishing #ContentPublishing #ContentPromotion #ContentDistribution #ContentChannels #JeffCross #ISSA #Journalist #Journalism #ManufacturingJournalism #IndustrialCleaning #BuildingServiceContractors #VideoProduction #TradeJournal #TradeShows #TradeAssociation #ISSA

Episode 7 - Terri Hoffman on Industrial Marketing for Manufacturers

Industrial Marketing for Manufacturers Built Right - Terri Hoffman riffs on NCAA athletics, accountability, strategy, and even UTVs and wine - all on Industrial Growth Institute Episode 7
Summary
In Episode 7 of the Industrial Growth Institute Podcast, Terri Hoffman, founder and CEO of Marketing Refresh, joins Ed Marsh to discuss industrial marketing for manufacturers.
Terri simplifies industrial marketing by focusing on making it easy for clients' target buyers to find and engage with them online. She brings 30 years of marketing experience, including working in-house, as a consultant, and now on the agency side. Terri's background as a former NCAA athlete and her engineering mindset contribute to her unique perspective on marketing. She emphasizes the importance of accountability and doing what you say you're going to do in business.
Terry's agency, Marketing Refresh, specializes in helping B2B industrial brands generate leads and navigate the digital landscape. The conversation explores:
the importance of accessibility and convenience in customer experience
challenges of bridging the gap in vocabulary between marketers and clients
evolving roles of marketing and sales in the industrial space
impact of #AI on marketing
significance of branding in the industrial manufacturing sector
budget allocation for marketing
Terri & Ed dive deep into the importance of digital marketing for industrial manufacturers including:
changing buyer's journey
role of marketing in driving growth
need for strategy over tactics
importance of data and reporting and Terri's partnership with Databox
the need for companies to embrace digital marketing and close the knowledge gap between what is possible and what is understood
the importance of boards of directors having a deep understanding of contemporary sales and marketing
Takeaways
#IndustrialMarketingForManufacturers is about making it easy for target buyers to find and engage with a company online.
#Accountability and doing what you say you're going to do are crucial in marketing and business.
How being an #NCAAWomensBasketball captain and engineering student contribute to her unique perspective on marketing.
#DigitalMarketing has changed the expectations of #B2Bbuyers, who now expect the same convenience and accessibility as in B2C experiences.
Qualitative research and understanding the exact words and experiences of buyers can provide valuable insights for marketing strategies.
Focus on the fundamentals and provide a great customer experience.
The roles of marketing and sales are evolving, with more overlap and the need for digital skills in both areas.
AI can enhance decision-making and efficiency in marketing, but it cannot replace human creativity and understanding.
Branding is important in the industrial manufacturing sector, both visually and in terms of messaging and value proposition.
Budget allocation for marketing in the middle market industrial manufacturing sector can range from 3% to 8% of revenue, depending on factors like company stage and goals.
Shifting resources from sales to marketing can be a strategic move to optimize revenue growth and improve marketing capabilities.
Strategy is more important than tactics when it comes to marketing.
Data and reporting are essential for measuring the effectiveness of marketing efforts and making informed decisions.
Check out Terri's website
LinkedIn: Terri Hoffman and Ed Marsh
Twitter: Ed Marsh 
Instagram: Ed Marsh 
YouTube:  @MarketingRefresh  &  @EdMarsh 
Show Transcript 
00:00 Simplifying Industrial Marketing 04:18 The Power of Accountability 05:30 The Unique Perspective of an NCAA Athlete and Engineer 09:07 The Changing Expectations of B2B Buyers 13:16 The Value of Qualitative Research 32:03 The Evolving Roles of Marketing and Sales in the Industrial Space 35:38 The Significance of #Branding in the Industrial Manufacturing Sector 46:35 Budget Allocation for Marketing in the Middle Market Industrial Manufacturing Sector 58:02 Shifting the Resource Pool between #SalesAndMarketing 59:09 The Possibilities of #Ecommerce Platforms 01:01:16 Differentiating #MarketingStrategy and Tactics 01:02:05 Prioritizing the Right Marketing Initiatives 01:03:06 The Importance of Strategy in Marketing 01:14:42 Focusing on Business Outcomes Rather Than Product Specs 01:19:02 Automating #SalesProcesses for Efficiency 01:24:29 Closing the Knowledge Gap and Embracing
 
#DigitalMarketing #InboundMarketingAgency #ManufacturingMarketing #IndustrialMarketing #B2BSales #IndustrialGrowthInstitute #IndustrialMarketingForManufacturers #MarketingRefresh #OverallRevenueEffectiveness #TerriHoffman

Episode 6 - Carole Mahoney on the Role of Sales Managers and Buyer First Selling

From Single Mom and Struggling Waitress to Sales Trainer & Author - Carole Mahoney on Industrial Growth Institute Episode 6
Summary
In this episode, Ed Marsh interviews Carol Mahoney, a sales trainer and coach, about her journey through personal and business frustrations, the critical role of B2B Sales Managers, and the importance of mindset in sales success.
 
Carol shares her personal background growing up in a family of entrepreneurs and her initial belief that marketing would eliminate the need for sales. However, after facing challenges in her own business, she realized the importance of sales and the need to change her mindset.
 
Carol digs deep into evolving B2B Sales:
emphasizing the need to challenge buyers' thinking and build trust by asking tough questions
coexistence of sales and marketing and the importance of aligning the sales process with the buyer's journey
the launch of her book and the buzz surrounding it
importance of relevance to different audiences
need for salespeople to understand the current state of sales and the importance of collaborative selling
impact of technology on the buyer experience and how it can be used to enhance or hinder the sales process
insights on selling to buying teams and managing change
importance of sales managers in driving behavioral change and supporting their teams
role of coaching and role-playing in sales training and the ideal span of control for sales managers
involvement in sales communities and her mission to increase the representation of women in sales
origin of her company, Unbound Growth
final advice for sales professionals.
 
Takeaways
The transition from marketing to sales requires a mindset shift and a willingness to challenge buyers' thinking.
Self-limiting beliefs, such as the need for approval, can hinder sales success. It is important to replace these beliefs with positive and empowering ones.
Sales and marketing should collaborate and align their efforts to effectively engage buyers throughout the buying journey.
Key performance indicators (KPIs) for industrial companies include click-through rates, sales-qualified leads, velocity in the sales pipeline, average order rates, and involvement of key stakeholders in deals.
Sales enablement content should address buyers' concerns and objections to lower the likelihood of no decision due to fear of making the wrong decision. Sales managers play a crucial role in driving behavioral change and supporting their teams.
Coaching and role-playing are essential for effective sales training.
Sales communities provide valuable opportunities for collaboration and learning.
Increasing the representation of women in sales can lead to diverse perspectives and improved outcomes.
Continuous learning and personal development are key to success in sales.
Check out Carole's website - https://www.unboundgrowth.com/
LinkedIn: Carole Mahoney & Ed Marsh
Twitter: Carole Mahoney & Ed Marsh
Instagram: Carole Mahoney & Ed Marsh
YouTube: Carole Mahoney & Ed Marsh
Show Transcript 
Learn about Overall Revenue Effectiveness™ Framework for Industrial Manufacturing Revenue Growth
#InboundMarketingAgency #ManufacturingMarketing #IndustrialMarketing #B2BSales #RickRoberge #CaroleMahoney #UnboundGrowth #SalesCoaching #SalesRolePlaying
Chapters
00:00 Introduction and Background
01:08 Early Entrepreneurial Spirit
03:21 Impact of the 2007 Financial Crisis
04:30 Struggles with Sales Training
05:23 Challenges with Closing Deals
06:25 The Need for Mindset Change
07:11 Replacing Self-Limiting Beliefs
08:07 The Importance of Mindset in Sales
09:45 The Need for Tough Questions
10:37 The Impact of Negative Sales Mindsets
11:58 The Influence of Leadership Mindsets
12:19 The Importance of Buyer Perspective
13:31 Replacing Self-Limiting Beliefs
15:10 The Role of Sales and Marketing
18:29 Putting Buyers First
20:21 Aligning Sales Process with Buying Journey
21:33 Contrasting Sales and Marketing
22:11 The Importance of Sales in Revenue Growth
24:15 Key KPIs for Industrial Companies
27:16 Translating Buyer Decisions in Sales
28:09 Importance of Sales Enablement Content
28:51 Launch of Carol's Book
28:55 Book Launch and Buzz
30:02 Relevance to Different Audiences
31:16 Sales Savviness and Understanding
33:05 Title and Purpose of the Book
33:59From Doing to Collaborating
36:11 Consultative Sales and Asking Questions
39:20 Technology and the Buyer Experience
45:14 Buying Teams and Change Management
50:36 Personal Interests and Growth
55:00 What Makes Carole Tick
56:30 Pink Floyd and Music
57:52 Carole's Background in Music and Sales
59:06 The Importance of Sales Managers
01:00:08 Coaching and Role-Playing in Sales
01:02:09 The Ideal Span of Control for Sales Managers
01:07:21 The Importance of Sales Communities
01:11:18 Women in Sales
01:16:01 The Origin of Unbound Growth
01:18:45 Recommended Resources for Learning about Sales
01:23:19 Carole's Concerns about Climate Change
01:25:04 How to Connect with Carole
01:26:00 Final Advice

Episode 5 - Peter Caputa on the evolution of digital marketing and the power of data for revenue growth

From Chemical Engineer to Inbound Marketing Legend - Peter Caputa on Industrial Growth Institute Episode 5
Summary
In this episode, Ed interviews Peter Caputa IV, CEO of Databox, about his career and insights into #DigitalMarketing, #B2BSales and businesses.
He shares his journey from the 15th employee at #HubSpot through his launch and management of the massively successful marketing channel partner program. They discuss the challenges of #ManufacturingEcommerce the importance of #perseverance and #grit in business, and the evolution from #OutboundSales through #InboundMarketing to #nearbound strategies.
Peter also shares his thoughts on:
- the decline of inbound #SalesDevelopmentReps- potential for industrial companies to adopt a different business development approach - various topics related to sales, marketing, and data-driven decision-making - importance of improving #SalesProcesses - need for more experimentation in the industrial sector - integration of marketing and sales, particularly in terms of collaboration and content creation - insights on leveraging #LinkedIn for #SalesAndMarketing
Then Pete offers a masterclass on the power of #Benchmarking in driving performance improvement and as a #BusinessDevelopment tactic. He discusses the role of #DataBox in making data-informed decisions and the potential of #ProductLedGrowth in industrial companies and concludes with advice on the importance of data aggregation and the need to adapt to changing market dynamics.
Takeaways
- The importance of personal relationships in the sales process. - Perseverance and grit are essential qualities for success in business, and staying with a company for a longer tenure can lead to valuable lessons and deeper knowledge. - Why the traditional model of inbound sales development reps may be declining, and companies should consider alternative approaches that align with changing buyer expectations and technological advancements. - Why industrial companies should focus on improving their sales and buying processes to make them more efficient and effective. - Why the integration of marketing and sales is crucial for success, and both teams should collaborate and align their efforts to optimize the sales process. - Benchmarking is a valuable tool for industrial companies to measure their performance and identify areas for improvement. - DataBox provides a platform for making data-informed decisions and optimizing performance through benchmarking and analytics. - Product-led growth can be a valuable strategy for industrial companies to engage with potential customers and build relationships. - Industrial manufacturers should focus on aggregating and analyzing their data to gain insights and drive innovation. - Uncertainty and external factors can impact businesses, and companies should be prepared to adapt and navigate challenges. - Industrial manufacturers should prioritize sales, marketing, and data-driven decision-making to stay competitive and drive growth.
Check out Pete's website - https://databox.com/
LinkedIn: Peter Caputa & Ed Marsh
Twitter: Peter Caputa & Ed Marsh
Instagram: Peter Caputa & Ed Marsh
YouTube: Peter Caputa & Ed Marsh
Show Transcript 
Learn about Overall Revenue Effectiveness™ Framework for Industrial Manufacturing Revenue Growth
#InboundMarketingAgency #ManufacturingMarketing #IndustrialMarketing #B2BSales #RickRoberge
Chapters
00:00 Introduction and Background
01:14 Peter's Career and Insights
07:28 Long Tenures in Companies
09:05 Perseverance and Grit in Business
11:11 Audacity and Conservative Approach
13:47 Personal Interests and Hobbies
20:08 Building the Channel Program at HubSpot
25:08 Evolution from Direct Sales to Nearbound
29:22 The Decline of Inbound Sales Development Reps
34:08 The Industrial Perspective on SDRs
39:39 Improving Sales and Buying Processes
41:22 Lack of Experimentation in Industrial Companies
42:25 The Integration of Marketing and Sales
43:34 The Power of LinkedIn for Sales and Marketing
44:28 The Importance of Benchmarking
46:22 The Workflow for Daily LinkedIn Activity
48:49 The Role of DataBox in Making Data-Informed Decisions
50:09 The Potential of Product-Led Growth in Industrial Companies
52:31 Using Benchmarking in the Industrial Space
53:31 Adding Data Sources to DataBox for Benchmarking
55:43 Resources for Learning Digital Marketing and Sales
59:17 Managing a Remote Team and Lessons Learned
01:08:23 Concerns and Uncertainties in the Business Space
01:13:41 Advice for Industrial Manufacturers

Episode 4 - Markus Rimmele on Servitization & Digitalization of Industrial Support

Growing Aftermarket Sales & Service with Digitization - Markus Rimmele on Industrial Growth Insitute Episode 4
Key Points
Digitalization can help middle-market industrial manufacturers improve the buyer experience and differentiate their offerings.
An adapted mindset and digital approaches can help grow high profit aftermarket parts, service and training revenue.
Digital tools can provide an approach to gain entrance to accounts where incumbent competitors are entrenched.
Whether or not machinery manufacturers like the trend, buyers expect it.
Summary
In this episode, Ed interviews Markus Rimmele, an industrial automation professional. Markus shares his journey from being a field service technician to founding Digitalitum, a company focused on digital transformation in manufacturing.
They discuss tips for mid size industrial manufacturers to boost aftermarket sales and service, and Markus explores the challenges faced by technicians, such as troubleshooting and implementing digital tools, and the importance of change management.
Marcus shares many lessons learned including:
the need for a hybrid approach in digitalization
value of cultural diversity and intellectual elasticity
commitment to helping manufacturers navigate the digital landscape
the concept of digital transformation and how it is a tool to help businesses become more efficient and provide more value to customers
importance of understanding the customer's biggest problems and using digitalization to address those issues
trends driving the need for digitalization in the manufacturing space, such as increasing complexity of machines and a decline in skilled technicians
how digital tools, such as IoT and immersive technologies, can bridge the skills gap and improve maintenance efficiency
value of quality and service in capital equipment purchasing decisions - potential for digital services to create recurring and predictable revenue streams
challenges and misconceptions surrounding digitalization
insights into the commercial opportunities for OEM manufacturers. T
Takeaways
Digital transformation is a tool to help businesses become more efficient and provide more value to customers.
Trends driving the need for digitalization in manufacturing include increasing machine complexity and a decline in skilled technicians.
Digital tools, such as IoT and immersive technologies, can bridge the skills gap and improve maintenance efficiency.
Quality and service are important factors in capital equipment purchasing decisions, and digital services can create recurring and predictable revenue streams.
Challenges in digitalization include resistance to change and concerns about data security, but these can be addressed through proper implementation and cybersecurity measures.
Helpful link - Markus and Ed discuss digitalization and servitization in a webinar conversation https://www.consiliumglobalbusinessadvisors.com/partner-marketing-for-machinery-oems
Learn about my Overall Revenue Effectiveness™ Framework for Industrial Manufacturing Revenue Growth - https://www.consiliumglobalbusinessadvisors.com/overall-revenue-effectiveness-to-help-manufacturers-improve-sales
 
Check out Markus' website - https://digitalitum.com/ 
LinkedIn: Markus Rimmele & Ed Marsh
Twitter: Ed Marsh
Instagram: Markus Rimmele & Ed Marsh
YouTube: Markus Rimmele & Ed Marsh
Show Transcript
Industrial Growth Institute on YouTube
Chapters
00:00 Introduction and Background03:10 Field Service Technician and Lessons Learned05:56 Meeting Revenue Targets and Building Machines on Site10:06 Freelancing and Experience Across Industries12:56 The Importance of a Multilingual and Multicultural Background15:57 Founding Digitalitum and the Digital Toolbox25:05 The Power of LinkedIn and Hybrid Approaches30:00 Cultural Differences and Intellectual Elasticity35:04 Living the Passion through Digitalitum36:04 Defining Digital Transformation37:03 Providing Value to Customers37:26 Overcoming Resistance to Digitalization37:49 Drivers for Digitalization in Manufacturing38:36 Complexity of Machines and Skills Gap40:06 Digital Tools for Machine Maintenance41:34 Implementing Customer Portals42:41 Taking Progressive Steps in Digitalization43:01 Digital Services Platforms43:46 Value of Quality and Service in Capital Equipment Purchasing50:33 Data as the New Gold54:47 Decay in Overall Equipment Effectiveness (OEE)58:57 Recurring and Predictable Revenue Streams01:05:23 Using Digital Services as an Entry Sale01:10:27 Misconceptions about Digitalization01:12:42 Commercial Opportunity for OEM Manufacturers
#AfterMarketSalesAndService #SparePartsSales #CustomerExperience #CapitalEquipmentSales #MachinerySales #MachinerySalesAndService #Installation #Commissioning #PurchasingOfCapitalEquipment #TechnicalService #CustomerService #Aftermarket #B2BSales #IndustrialSales #TechnicalSupport #KnowledgeBase #Digitization #Digitalization #Servitization #MachineSales #AftermarketSales #CustomerLifecycle #OEE #ORE #CustomerTechnicalSupport #TechnicalSales #ServiceEngineer #ApplicationEngineer #MachineInstallation #BreakFix #PreventativeMaintenance #spareparts #MachineServiceHistory #OverallEquipmentEffectiveness #NewLogoSales #GermanQuality #TechnicalSupport #RemoteDiagnostics