BEYOND THE HYPE: HOW TO ACHIEVE SUSTAINABLE GROWTH in tech
Are you concerned as a tech leader that your growth might be limited due to strategies or approaches that just aren’t working?
In this episode, I welcome tech CMO and investment advisor Stephen O’Brien to discuss the challenges of marketing in sales-led tech companies and the importance of moving up the value chain.
Stephen is a trailblazing CMO and tech-founder whose professional journey includes roles at industry giants such as BlackBerry, BT, LogicaCMG, and Marconi, where he honed his expertise in driving business transformation and achieving sustainable growth.
Tune in and get invaluable insights into the power of investment in marketing for tech businesses looking for scalable growth, discover an investor’s perspective on seeking funding and the importance of a long-term perspective in marketing within the tech industry against a short-term sales-led approach.
EPISODE OUTLINE AND HIGHLIGHTS
[02:37] Journey in the Technology Sector
[06:14] Challenges in Marketing
[08:07] Sales-Led vs Marketing-Led Businesses
[10:36] Moving Up the Value Chain
[13:26] Proving the Value of Marketing
[16:18] Spurring Scaling and Growth
[18:55] Different Approaches to Growth
[25:22] Bridging the Gap Between Sales and Marketing
BRIDGING THE GAP BETWEEN SALES AND MARKETING
Bridging the gap between sales and marketing is one of the most powerful things a business can do to help achieve long term success. Drawing on his experience in customer management for Amdocs, the biggest telco consulting firm in the world, Stephen discusses the importance of integrating sales and marketing for a successful customer experience.
He argues that in most companies, there are separate channels for customers to interact with, like online presence, physical stores, and call centers. On top of that, sales and marketing have their own communication with customers.
The problem arises when sales and marketing operate in silos. Just handing over leads from marketing to sales isn't enough. There needs to be constant communication and collaboration between the two teams.
Salespeople have the most up-to-date information on customer needs and challenges, which is invaluable for marketing to develop targeted messaging. Conversely, marketing can inform sales about the best content and campaigns to use when converting leads.
Stephen acknowledges that for many tech companies, the solution is to have a single director overseeing both sales and marketing. However, he sees issues there and instead suggests there should be separate leaders for each department who work together. This ensures that marketing has a seat at the table and both teams are constantly feeding information to each other.
By fostering a collaborative environment where both departments work as one unit, companies can improve the customer journey throughout the entire funnel, from attracting leads to converting them into sales and retaining them as customers.
ADVICE FOR FOUNDERS SEEKING FUNDING
Stephen’s entrepreneurial spirit and strategic vision have positioned him as a trusted investment advisor, serving on the Advisory Board of Sure Valley Ventures. So I was keen to know what advice he would give to founders seeking funding in today's dynamic climate?
Stephen suggests that whilst thorough research on finding the right investors is crucial, there's one key question founders should be prepared to answer effectively: What will the funding enable you to do that you can't do now?
Investors prioritise three basic factors: a compelling idea that solves a problem, a large enough target market, and a capable team to execute the plan. But beyond that, they want to understand how the funding will be a turning point for the business.
A strong answer explains how the money will be used to overcome a current hurdle, such as product development, marketing campaigns, hiring a sales force, or even allowing founders to focus on the business full-time. While some investors might be okay with funding founder salaries in exceptional circumstances, most look for funding to directly propel the business forward.
TODAY’S GUEST
Meet Stephen, a seasoned executive with a wealth of experience in driving business success through marketing, sales, and go-to-market strategies. As a Chief Marketing Officer (CMO) and CxO, Stephen specializes in crafting brilliant strategies that fuel innovation and foster growth. With a keen focus on leveraging digital capabilities, he supports senior executives in navigating the ever-evolving landscape of modern business.
With an impressive entrepreneurial track record, Stephen has founded four businesses, successfully leading three of them through profitable sales. His entrepreneurial spirit and strategic vision have positioned him as a trusted advisor, serving on the Advisory Board of Sure Valley Ventures.
Stephen's professional journey includes roles at industry giants such as BlackBerry, BT, LogicaCMG, and Marconi, where he honed his expertise in driving business transformation and achieving sustainable growth.
Beyond the boardroom, Stephen is a man of diverse passions. A moderate drummer, he finds rhythm and creativity both in business and in music. Additionally, he enjoys fair-weather sailing, finding solace and inspiration on the open water.
OUR HOST
Karen is the founder and Director of Armstrong Lloyd. She leads a very special team that partners with businesses and empowers them to build industry-leading marketing teams for some of the most exciting B2B technology brands - from small agile and disruptive start-ups to global giants providing a wealth of product and service offerings.
