Archive for Lean Sigma
Evaluating your Marketing Funnel, Only Seven Levers matter
Posted by: | CommentsIn my Marketing Your Black Belt webinar, I have created several tools to measure your effectiveness and how to create a meaning full value stream in your marketing process. One of the resources that I used was an excellent book, Professional Services Marketing: How the Best Firms Build Premier Brands, Thriving Lead Generation Engines, and Cultures of Business Development Success
1. Number and/or quality of targets.
2. Number of overall leads.
3. Number of qualified leads.
4. Number of pipeline opportunities converted to clients.
5. Revenue per client.
6. Revenue retention.
7. Growth rate per client.
The authors, Mike Schultz and John Doerr say that if you are doing an activity that will not effect one of these levers, stop doing it!
I do not necessarily agree with the complete statement as I do believe a measurement of referrals, such as mentioned in The Ultimate Question: Driving Good Profits and True Growth
Overall, I like the seven levers as I can see that it does provide a natural extension to measurement of a Marketing Funnel that is needed. It will highlight a specific area that is doing a great job or producing little results. The suggestion I would like to consider comes form my trouble shooting days on equipment. Seldom was the problem ever the last thing that happened. It was always a result of what happen several stages before. I can remember on the phone hearing the description of the problem and asking the customer: “What did you do right before that? Or before that?”
When problems occur it really is about finding the root cause. However, so many times the solutions are not readily apparent due to the lack of measurements. I think organization of your marketing process into a funnel, flow chart, process map or just a swim lane flow chart is a great way to start. After this step is completed, I recommend starting a Value Stream Map. Even though you will probably be unable to complete it, due to the lack of measurements you can start considering the measurements that will assist you. You may surprise yourself. If you only know three of the levers for example, it may be very simple to interpolate the remaining. After that, you can start monitoring and your numbers will start improving in accuracy.
If the authors are correct, you only need seven measurements in your process block? Pretty simple process. Wonder why we don’t do it? By the way, can you think of any other levers that might be needed?
Lean Six Sigma Marketing Coach certified by Duct Tape Marketing
Posted by: | CommentsI was one of a group of eleven Duct Tape Marketing™ Coaches to be certified recently in the Duct Tape Marketing program. This award was presented at the annual gathering in Boulder, Co. this October.
John Jantsch, author of Duct Tape Marketing and founder of the Duct Tape Marketing organization developed this initiative and established levels of Duct Tape Marketing Coaching accreditation in an effort to place heavy emphasis on the success factors of the Duct Tape Marketing system and reward those who establish pre-defined levels of success using the Duct Tape Marketing approach, tools and point of view. To obtain this advanced level, there were twelve additional requirements above and beyond the initial level. At this time, it is the highest achievable level within the organization.
It is a honor to be recognized with such an outstanding group and would like to thank John Jantsch, the Duct Tape Marketing organization and recognize the other ten coaches that achieved this level; Jeff Bishop, Troy Braithwaite, Scott Campbell, Joe Costantino, Bill Doerr, Fiona Friesen, Adrianne Machina, Cidnee Stephen, Michael Thompson, Liz Walker. I firmly believe in the Duct Tape Marketing Process and to use an old cliché, I not only talk the talk but walk the walk. As you may know there are few people that believe in a marketing system as much as I do.
The Duct Tape Marketing system allows business owners to create and build their very own marketing system complimented by a coaching system that has proven effective with small businesses for over 20 years. The system is perfect for those who already own a business, but want to make it soar. It’s also designed for those who want to start a business but don’t know how to get it off the ground.” This system will help entrepreneurs build the perfect business establishing a proven marketing system to their growing company. “Why reinvent the wheel? Take a proven process, a package of tools, a trained coach and run with it.
Related Post: I believe in a Marketing System
