The other week I saw an advert on LinkedIn and it was very clear that this company was going bust. Why?
For a start, it’s 2020 and having anybody in your company that still thinks interrupt and broadcast sales and marketing (advertising, cold calling and email) still is a strategic way forward is shows you have the wrong people onboard. This is not the talent that will get you to 2030!
We all know from our own buying behaviour that any form of interruption is a pain in the arse, which is why there is so much technology (iOS13) and legislation (GDPR, CPPA) to stop it.
Think about it, adblockers use is growing 30% year-on-year, in some countries it’s 70% growth.
A cold calling guru admitted that the biggest search item on her blog was the term cold calling. She put this down to a resurgence in the legacy sales tactic. Really? Of course she would say that she sells cold calling training. In fact it’s because, nobody can get cold calling to work, there are thousands and thousands of sales people desperate for a way out! That’s why the amount of people searching on cold calling has gone up. People have dug their companies and their careers into a hole.
I’m always told on Twitter that the amount of digital advertising ad spend is increasing. It is. Why? Because it does not work. We have to spend, more and more money on it to try and get the same result. We all ignore it and have ad-blockers anyway. I meant with a Marketing Manager last year where she told me she used advertising to create leads for her company. Then admitted that she and the whole of the marketing team used ad-blockers. As she said to me, before she got the irony “why do I want to be interrupted by people trying to sell me shit”. Exactly, I said.
Email marketers make me laugh they have lots of research that show open rates are down the tubes but always announce this as a success. I’m sure that if you sent a million emails and only one was opened, that would prove email marketing works. Let’s not forget, nobody gives s hit about your company and products. I’ll put this question out there again as I never get an answer, “what is the connection between “open rate” and “revenue”? We all know the answer. Nothing.
So how do I know this company is going bust?
- They are using advertising.
- They are advertising for sales people.
I’m sorry, but the only people that will even see you have an advert are the people searching for another job, the “journey men”. Those that stay for two years and then leave.
The talent that will get you to where you need to be over the next decade are on social, they are using social. Those people are not looking for jobs on LinkedIn ads.
In this new decade, it’s time to realise that “what got you here, won’t get you there”. This belief that the sales and marketing tactics of the last century will dive you forward, just won’t wash.
Before I close this blog out, just so you know, every time you advertise, every time you give a cold call, every time you send an unsolicited email you are sending a signal to the rest of the market.
We all know that your Sales and Marketing leaders have run out of ideas. They don’t have the skills to drive your business forward. But it’s worse, you are also telling, loud and clear to your investors, Customers, Prospects, Employees and I that your company won’t be here in 2020.
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