Get Ahead with Grant Opportunities for Optics & Photonics
Ways to Stretch Marketing Budgets with Grant Funding In a time of economic uncertainty, you need marketing more than ever to hit your goals, but like...
3 min read
Michele Nichols Tue, Feb 14, 2017
Photonics West brings together more than 20,000 optics and photonics leaders from all over the world. SPIE’s industry track of courses is gaining momentum, and this year our team had the honor to teach “The New Sales Model.” There were some exceptional discussions among myself, Launch Team VP of Account Services Sarah Campagna, and sales and marketing professionals the industry. Couldn’t make the session? These attendee questions might provide some insight.
Q: What are the primary methods of communication preferred today? How do you convert inbound marketing to human contact?
A: Automated chat, email blasts, and social media posts are all useful channels for initial contact and inbound lead generation. More meaningful conversations require a phone call, personal emails, and a direct ask to connect on social networks such as LinkedIn.
As inbound in inherently global, an inbound marketing strategy may broaden your typical customer geographic base. Face-to-face, human interaction is still important, so you may need to beef up your video conferencing skills. Global sales growth also shifts the intent of your trade show calendar, so make sure that 1:1 prospect and customer meetings is a priority for any planned travel.
Q: What CRM / ERP are you seeing work best?
A: This depends on your company size and the sophistication of your sales process. For smaller companies or those just getting started with a consistent sales process, we like the HubSpot CRM. It’s free, sets up in minutes, and is easily customizable. We actually started on SalesForce but found it to be more than we needed. We wanted a starting point based on best practice sales processes, and HubSpot was a great fit.
As for ERP, most of the companies we work with use EPICORE. This isn’t our area of expertise. We do see companies who want to use their ERP’s CRM module but a couple years later have made no process. It’s important to think through where exactly the handoff from CRM to ERP happens, and how to ensure that contacts are synced.
No tool is perfect—consistency in usage is the largest success factor.
Q: How do you get customers when one large competitor already owns most of the market?
A: Go where they can’t. Figure out your sweet spot—your core capabilities, what your customers value, and what your competitor can’t touch. Market positioning or product positioning is the process of identifying your unique value proposition, within a specific market, to a specific type of customer. It’s your “because.”
As a small company entering the market, you can move faster, deliver more personal service, and be cooler, funnier, or more edgy. Social media is a great equalizer. Use case studies to prove your viability in serving large companies.
Q: What works beyond the website?
A: With creative content distribution, a prospect doesn’t necessarily have to visit your website to find your content:
Q: Any warnings for participating in social media?
A: There sure are:
Q: If I can only spend money on one marketing project next year, what should it be?
A: Content. Focus on developing quality educational pieces—editorial articles, white papers, blog posts, etc.—that are targeted to serve your customers’ interests and needs. Leverage it across channels, from trade publications to YouTube and social media.
Q: Do you have any sample reports of how marketing activities are measured?
A: We like using HubSpot’s traffic calculator to set goals for inbound marketing efforts and Google Analytics to measure progress. We also created our own KPI Worksheet to help those just getting started with marketing metrics.
We regularly look at year-to-date comparisons of:
Q: What’s your favorite prospecting tool for independent sales reps?
A: LinkedIn, of course. If you know your targeted industries, job titles, geographies, etc., this can be really powerful tool.
Q: Do more trade shows mean more leads?
A: Only if they’re paired with the right activities, like:
Q: Does sending engineers to market products work?
A: Not if their personalities are not suited to relationship development and management. Successful selling today demands:
That said, I’d choose a credible expert in optics who can do these things over someone with a “golden rolodex” who isn’t committed to exploring, following up, or bringing the customer value with real expertise.
Check back for part 2, or download the presentation slides.
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