Marcus Sheridan, owner of IMPACT BND gets in front of the mic during this “National Advisory Showcase” segment to talk about effective digital marketing techniques to help your business achieve success.
Please excuse any typos in this hasty transcript.
Matt Register: Hey guys. Welcome back to the show. Texas Business Radio. Texas Business Radio dot com is the website. 844-814-8144 is our 24 hour call in line. It’s a 24 hour line, that means call in now, call in in the middle of the night, call in … I don’t really have an opinion on it. We’re gonna get the experts in here to get those questions answered.
I’m your host Matt Register. Jay Curry had to step out for little bit, he’s gonna join us here shortly. But in the mean time, it’s time for a regular segment we have called, National Advisor Showcase. There are some really smart guys who come into Texas to talk to our CEOs and explain to ’em ways they can improve their business. We like to bring those guys in, pick their brain a little bit, and find out for free, how we can improve our business. And this segment is not different. We’re gonna talk a little bit about digital marketing.
Guys, there are things that you can do with your company. The internet is a glorious thing. It’s a level playing field. You have every ability to compete against much larger and much better funded competitors, and win with the internet. And, if you’re not using it, and you’re not using it effectively, you’re wrong. So, we have somebody in here that’s gonna tell us how we can better utilize that tool to help our business.
Marcus Sheridan is a speaker. He is the owner of a company that does digital marketing. He is a serial entrepreneur. Man of many hats. Marcus Sheridan. Welcome to the show Marcus.
Marcus Sheridan: Hey Matt. It’s great to be here man. You know, you said digital marketing. I like to call it digital sales and marketing. Because, I learned a long time ago, that if you want to get something approved in business, you call I sales. If you want to get it rejected or tabled for later, you call it marketing. Right?
Matt Register: You call it marketing. Right?
Marcus Sheridan: That’s how it goes. And plus, I’m sure you’ve heard this stat Matt, but I think this is … You know, recently, there was a B to B study done. Right? Which I think is a game changer in the world of business at we know it. It’s like, one of the most powerful movements that’s happened to business in the last 100 years. And that is this, that today on average, 70% of the buying decision is made before someone actually talks to a salesperson.
Matt Register: Got it.
Marcus Sheridan: Before they engage. It’s a B to B, right? B to C numbers are even higher. Right? So, if we’re being honest with ourselves, and we look at like, “Wow. What does this mean?” Because you go back 15, 20 years, Matt, and that number’s probably 30%. Today, we’re at 70%. So the question is, where are we gonna be over the next 5, 10, 15 years? And it also begs one other thing, before you get rockin’ rollin’ to my initial point about sales marketing.
If we’re being honest with ourselves. Right? Which department of our organization at this point, has a great impact on the actual sale of the thing? Is it the sales department, or is it the marketing department? And, if we understand trends and stats, frankly, it is marketing. Which means, which means this, we gotta see marketing as the red-headed step child of the business. In fact, we need to merge the two together, the two departments. And, some of the most progressive businesses in the world today, really see it as revenue teams that combine sales and marketing, that’s really the future.
Matt Register: Well, and I tell you what, I could not agree more. And, the more we talk to companies, the more we realize that, the sales cycle has changed. The buying habits of B to B, B to C has all changed. And when you were starting the sales cycle before they ever contact a salesman, you gotta have those marketing guys, because they’re doing step one, two, and three of the sales process before anybody ever picks up the phone. So, they’ve gotta be tied together. They gotta be talkin’ and they didn’t necessarily have to 20 years ago. Right?
Marcus Sheridan: Well, that’s exactly right. I know one of the conversations we might have today is on video [inaudible 00:03:54]. So, it’s like, here’s the mindset that we’ve gotta have as businesses. One set that I want to share too, which I think is the other major trend is, they say by the year 2019, which is only six months away.
Matt Register: Right.
Marcus Sheridan: 80% of the content we consume online as buyers to consumers is gonna be video based content. Right? So, what does that mean? Well, first and foremost it means, whether we want to admit it or not Matt, we’re media companies. Now, you know this, because you get it. Like, you have this incredible vision. Looking around your offices today, it’s like amazing. You get the whole media element. Most companies don’t yet see that vision.
Here the litmus test. If your sales team is, when they go and shake a persons hand, if that’s the first time the prospect has seen their face, and heard their voice, you must look at it as a fail.
Matt Register: Sure.
Marcus Sheridan: Because the whole idea, the vision that we’ve gotta have as an organization today, beyond the fact that we’re a media company is, our customers must see us before we see them. They must hear us before we hear them. And if that occurs, they will know us before we know them, which induces that magical thing that you and I call trust, which is the whole business we’re in. Regardless of what business you’re in, if you’re listening to this right now, call it what you want, B to B, B to D, service, product, big, small, local, national, it doesn’t matter. We’re all in the business of trust. And nothing induces trust like video. You know that, I know that. That’s the vision we’re trying to instill.
Matt Register: Well, at the end of the day, that’s going to be how customers get educated on what it is they’re buying.
Marcus Sheridan: It’s the rising tide.
Matt Register: If it’s not you, it’s your competitor. Right? And so, that doesn’t mean that if you don’t have video, that they’re not gonna use it, they’re gonna use somebody else’s. Right? So, it might as well be you.
Marcus Sheridan: That’s it bro. And that’s the choice that we make. Just like, sometimes there’s hard questions that we can address. Or not. But somebody’s gonna address it.
Matt Register: That’s right.
Marcus Sheridan: And, somebody’s gonna embrace videos in your space. And, here’s what’s interesting. Lot’s of times, companies say to me, “Our industry so saturated with content.” Which is usually very, very false. But, let’s just assume that it is. I can assure you that it’s probably not very saturated with video content, because still, in most industries, video, showing it, not just telling it, but showing it’s still a blue ocean than most industries right now.
Matt Register: Yeah. No doubt about that. And even if there’s some people doing it, they’re probably not doing it right. They’re probably, not doing it, the quality’s not there, the quality of content is not there. Right? And, there’s opportunities for anybody, even in … My wife is a real estate broker, I was just talking during the break, talking to you about some of the things she was doing with video.
Real estate is a saturated market. But, I promise you, there are niches all over that market that are wide open.
Marcus Sheridan: And there’s news people standing out all the time, simply because they’re willing to embrace the messy. And that’s the part that so many businesses aren’t willing to do. You were willing to go through that pain period. That messy period of figuring out the equipment, figuring out who my subject matter experts are. Getting comfortable on camera. Right? Figure out where is the place to shoot in my office. Right.
Matt Register: Mm-hmm (affirmative).
Marcus Sheridan: So, all these things, we’ve gotta be willing to embrace the messy. But the ones that are, it’s amazing the story they can show.
Matt Register: Absolutely.
Marcus Sheridan: Visually, and the impact that it can have on the sales process. It’s really cool.
Matt Register: And I would imagine, you run into this very often. “I don’t wanna be the guy on camera. I don’t feel comfortable in front of the camera.” Right? Is that something you hear all the time?
Marcus Sheridan: Yeah. You know, you hear it a lot, and there’s a couple elements that I need to point out. First of all, we can’t let our opinions and feelings screw up smart business.
Matt Register: Mm-hmm (affirmative).
Marcus Sheridan: The reality is, nobody really cares if you or I feel comfortable on camera. I mean, that really is the reality.
Matt Register: Mm-hmm (affirmative).
Marcus Sheridan: In the moment we as business owners, or as sales people, ask someone else for their money, we lose the right to say, “I’m not gonna give some the reason to trust me fully.” Because that’s what we’re really talking about here. Right?
Matt Register: Sure.
Marcus Sheridan: We’re asking, that’s what sale is, we’re asking them for their money.
Matt Register: Well, at the end of the day, it’s not about you or your,
Marcus Sheridan: It’s not about …
Matt Register: It’s not about you or your feelings. It’s about your business.
Marcus Sheridan: That’s correct.
Matt Register: Interesting stuff. So, you are in town talking to CEOs through Vistage. You’re talking to a couple of Vistage groups.
Marcus Sheridan: Yeah.
Matt Register: What’s the reaction you normally get with a CEO group? So, these are 15 very smart CEOs in the same room. What is their initial reaction to this?
Marcus Sheridan: Well, first thing, most everybody says at first, “But, you don’t understand.” Right? Which is the natural very human tendency.
Matt Register: Right.
Marcus Sheridan: And especially when it comes to the B to B space. They’re the ones that are the worst. They really think, “I just don’t see how it be”-
Matt Register: I sell valves. This has no application to me.
Marcus Sheridan: Yeah. Right. I just don’t see the application. Yet, their spending gabillions on their sales team, sending them all over the world, or all over the country, trying to knock on doors. It doesn’t make sense, when they can do that leg work on the front end, during that digital vetting period that is happening. So, you see some resistance, and usually, they start to come around. But once they start to see the types of videos, or the types of content that we can all produce, that generates revenue. All of the sudden, people are like, “Whoa. This definitively could apply to my business.” Can I give you a couple of examples?
Matt Register: Yeah. Absolutely.
Marcus Sheridan: This is really, really cool. Right? And you’ve done a little bit of this with your business, so I know you’ll appreciate this.
So, one of the most effective videos that we’ve seen companies produce, B to B, service, product, it doesn’t matter, is what we call the 80% video. Okay. So, if you go to anybody that’s in sales, and you say, “What percentage of the questions you get on a first sales call, are essentially the same questions every single time.” They’re gonna say 80%. And so, you produce a video that after you brainstorm those questions, you morph all those answers together in one video, and you send it out to the prospect as soon as they come into the come into the system. Which now means, that when you have that sales call, instead of answering those same daggone questions every single time-
Matt Register: You’re answering the 20%.
Marcus Sheridan: That’s exactly right.
Matt Register: Absolutely brilliant. Marcus Sheridan, impactbvd.com is the website for your digital marketing.
Marcus Sheridan: Impactbnd.
Matt Register: B N D.
Marcus Sheridan: Bravo, Nancy, David. That’s right.
Matt Register: I’m sorry. B N D. MarcusSheridan.com is the website that you want people to go to that is the, that’ll get you to all of it.
Marcus Sheridan: Yes.
Matt Register: If you wanna learn more. Thank you very much for joining us. We’re completely outta time. I appreciate it. Guys, we gotta whole lot Texas Business Radio comin’ on right on the other side of the break. In the mean time, we have a couple of our own bills to pay. We’ll be back right on the other side of the break with a whole lot more. Don’t go away anywhere.
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In addition to hosting "Texas Business Radio," Matt is an investment banker and serial entrepreneur from Montgomery, Texas. He is the owner of RREA Media and Register Real Estate Advisors and a Managing Director and Principal at Corporate Finance Associates. He has a BS from the United States Military Academy at West Point and an MBA from Rice University in Houston. You can read more about Matt HERE.