"Why do companies switch to different martech products?"
We have a customer, whose Marketing department get little to zero response, OK let's be honest, zero response from their email marketing campaigns.
We all know that a person's inbox is one of the busiest areas that a person has to deal with.
What does any of us do when we get the equivalent of an advert from somebody we don't know?
We delete it, of course.
Ironically I know a CMO who as 10,000 unread email messages in their inbox.
Let's look at the research on email marketing from a company that sells email marketing software
You can watch the 55 minute webinar here.
The graphs show that there is trouble in email marketing world, the volume has gone up, but the open rate has stagnated and in fact dropped.
Yamini Rangan from Hubspot, says "we are inundated with email, especially busy executives and we are overwhelmed. So how do you cut through this, that is where the key is?"
It's interesting to hear Kipp say that Hubspot are "sending less email."
What happened to our customer who changed their email marketing systems?
They go zero response, they switched email marketing tools and they still get zero response.
The reason why people keep changing their martech products is that they don't work anymore.
So who's social selling?
In case you missed it, the Bank of America’s Merrill Lynch have banned cold calling and have moved all their people to social selling. This isn't some trendy tech company that might have decided to do this on a whim, this is a very conservative financial services company that has made a decision based on data.
But surely cold calling has a better ROI than social selling? Not according to Merrill Lynch.
"They will also be encouraged to contact prospects over LinkedIn, which has a higher hit rate than cold calling"
“Social selling is not an option now it is the way of the world and you either learn and execute it or fear getting left behind”
Kevin Murray who is the Head of Sales at MacArtney Underwater Technology recently posted about his success with social selling here and wrote an article about the transformation that has happened in sales here.