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Boost Your Small Business With These Must-Have AI Tools

By in Artificial Intelligence and Machine Learning, Business Management, Finance, Marketing, Operations

by Belle Wong for The Hartford In recent months, ChatGPT has shown the world how far artificial intelligence (AI) has come. But as AI developers and software companies release more and more AI tools on a near-daily basis, it can be challenging to know which tools are worth it for your small business. It’s worth digging deeper to learn more about the options available. By harnessing the power of AI, you can potentially compete with big businesses. Keep reading to learn more about the AI tools that can help take your business to the next level and beyond. 1. Chatbots Customers want…

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Cost of Acquisition (CAC) trap.

By in Business Management, Finance, Sales Tag , , , , , , ,

by ELENA VERNA for Elena's Growth Scoop Cost of Acquisition (CAC) trap. And why you should optimize payback period instead. ELENA VERNA MAY 12, 2023 32 3 Share So many acquisition-focused teams tirelessly chase after reducing Customer Acquisition Cost (CAC) or making it just one-third of the Customer's Lifetime Value (LTV). Yet, they often find themselves disappointed with lackluster results. Because in this "money doesn't grow on trees" economy, where every dollar counts, the real hero is the velocity of the payback period. ROI is back, baby. Where can CAC-reducing goals go wrong? Many acquisition teams are mandated to lower the…

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Stop Solving Problems

By in Business Management, Self Improvement Tag , , ,

by SEBASTIAN CUERVO for 42 Slash Marketers love solving problems. If you spend more than 20 mins on LinkedIn or Twitter on any given day, you will notice a couple of clear story patterns that go something like this: I had a problem with this marketing process. I used this formula I developed or copied from top influencers to solve it. I found success. You can do it too. If you want to learn more, leave a comment (and chances are it becomes an endless spam sequence in your inbox). Or alternatively, you may also find the vulnerability pattern: I…

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Global Strategy: The Case of McDonald’s

By in Business Management Tag , ,

by Ulster University Creating a successful business in one country is a challenge. So much depends on knowledge of your market, their preferences, customs and sensibilities. Taking a company global can therefore seem like an impossible task. There are several examples of companies’ failure to succeed in foreign markets, including an ill-fated campaign by Pepsi in China. Their slogan ‘Pepsi Brings You Back to Life’ was mistranslated as ‘Pepsi brings your ancestors back from the grave’ – a particularly bad mistake when you consider the importance of ancestors in Chinese culture. You can read about some of the other challenges…

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Demand Generation Demystified

By in Lead Generation, Marketing Tag , , , ,

by KAMIL REXTIN for 42 Slash What is Demand Generation? If you believe the gurus on social media selling services, demand generation is about putting out content, amplifying it with paid spend, and hoping your prospects come into the funnel.  Wishful thinking. Demand Generation (DG) is an umbrella that includes customer acquisition (channels, content, and strategies) and infrastructure (how do the systems and technologies support the revenue teams - for example, what happens once you implement a tool to help Sales & Marketing to be more efficient at generating revenue). DG, in our experience, is about understanding the job is done…

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4 principles for marketing compensation

By in Marketing

By LIZ CHRISTO at Dear Stage 2 DEAR STAGE 2: Do you recommend variable compensation for members of the marketing team? If yes, what has worked for you to drive results and create alignment? ~Founder aligning incentivesSubscribe DEAR FOUNDER ALIGNING INCENTIVES: We brought in 2 stellar CMOs to help us answer this critical question. Kirsten Newbold-Knipp, who led marketing at companies like Fullstory, Convey and BigCommerce and Shane Murphy-Reuter, the CMO at Webflow, and former marketing lead at ZoomInfo and Intercom. Our collective answer? A resounding YES! We’re glad to hear you started with the goal of creating alignment. Too often we see…

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Brand vs. Performance Marketing Spectrum

By in Marketing Tag , ,

By Wes Kao There are few philosophical stances that will influence everything about your marketing thereafter. Deciding to prioritize brand versus performance is one of those things. I call this the Law of Brand vs Performance Marketing. It states: All marketing activities are a trade-off between immediate conversion and brand equity. This means there is a trade-off between brand marketing and performance marketing. Performance marketing means better short-term conversion, but worse long-term brand equity. Brand marketing means worse short-term conversion, but better long-term brand equity. This is worth discussing with your team: “If you could only prioritize brand or performance,…

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5 PRIME SOURCES FOR B2B CONTENT

By in Content Marketing, Marketing

by Message Up You recognize that content marketing is mission critical for your B2B business, and you’re committed to making it happen. You’ve done your homework and prioritized a list of themes and topics on which your team is going to publish. All well and good, but how are you going to create the content itself? More precisely, where are you going to find the inspiration, ideas, and insights that will make it relevant and engaging? Here are five tips on where to look. But First, Back to Identifying B2B Content Topics Before we dive into the sources, let’s rewind…

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How Superhuman Built an Engine to Find Product Market Fit

By in Marketing Tag , , , ,

by Rahul Vohra, the founder and CEO of Superhuman We’ve all heard that product/market fit drives startup success — and that the lack thereof is what’s lurking behind almost every failure. For founders, achieving product/market fit is an obsession from day one. It’s both the hefty hurdle we’re racing to clear and the festering fear keeping us up at night, worried that we’ll never make it. But when it comes to understanding what product/market fit really is and how to get there, most of us quickly realize that there isn’t a battle-tested approach. In the summer of 2017, I was waist-deep in my search for a…

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