Tag Archives: ROI

Charlotte 2020

Charlotte 2020: Grow Your Business in the QC

If you live or do business in Greater Charlotte then you already know there’s a whole lot to be excited about in 2020 and beyond. The opportunities here are incredible, the city and state of NC in general are growing at a crazy fast pace and receiving all sorts of recognition nationally in “Best Places to Do Business” type articles. You can see for yourself (here, here, and here). Figuring out where to get plugged in or get more involved can be overwhelming, so I wanted to give you a few quick initial steps (4 to be exact) to take in the new year to kick things off, and I’ll elaborate and expand on this further throughout Q1.

Whether you’re new here, haven’t arrived yet, grew up here, or have been here for years now I highly recommend investing your time getting to know other professionals who are doing big things in business. Networking here has led to a substantial ROI for me and my businesses and I can’t encourage it enough. There are tons of organizations and resources with which to leverage at various price points and time commitments based on you and your company’s needs.

Personally, I’ve been involved in various capacities at board and committee levels with the Charlotte Regional Business Alliance (formerly the Charlotte Chamber of Commerce). I’d highly recommend it as a great place to start and get involved. However, to be fully transparent, after merging with the region’s economic development entity the organization’s mission and day-to-day focus are shifting pretty substantially.  Rather than solely focusing on greater Charlotte, The Alliance now has 15 counties across both NC and SC in its purview. Needless to say, that while it’s a positive shift overall that provides incredible opportunity, the scope and reach has shifted dramatically. Serving that wide an area comes with new challenges as well however, so clearly the day-to-day operations needed to change with it.

While I still very much intend to remain involved as a member and hopefully more, it would be a disservice to you if I didn’t say the new mission has simultaneously left a pretty sizable void for those with a more narrow focus of making an impact in greater Charlotte and don’t have the resources to have a target market that expansive. Again, yet another opportunity

This is where the Charlotte Business Group comes in. (Full disclosure: I recently joined the board in 2019 because I knew this transition was happening and wanted to prepare accordingly.) There are still a ton of business professionals who just have the capacity to focus on Greater Charlotte (it’s hard enough covering the Lake Norman to Rock Hill/Fort Mill area as it is, let alone a dozen plus other counties). So we decided to step in and do just that. We’re providing networking opportunities with our mixers, educational opportunities with our panel discussions, and we recently launched a membership program to be able to ramp up additional opportunities in the community (as well as with more focus on fostering referrals and connections but much more to come as the year rolls on). The focus will remain greater Charlotte, but everyone who wants to do business here is more than welcome to get involved. If you and your organization wants to align with that mission please reach out to me to set up a membership or sponsorship and we’ll get you plugged in.

Next up is another really non-negotiable if you’re serious about Charlotte. You need the Charlotte Business Journal in your life, by way of subscription (print and digital), attending their events, and you NEED the Book of Lists.

Charlotte Inno (formerly Start Charlotte) with their newsletter and PitchBreakfast events among others are also truly invaluable. Whether you want to learn about local start up success and origin stories, or see what other events are coming up on the horizon (they host many incredible ones themselves as well) you at least need to sign up for the newsletter and take it from there.

 

We’ll leave it here for now, as that’s 4 invaluable steps that you need to take in the new year if you haven’t already. But I’ll be adding much more with respect to the specific Charlotte focus moving forward (including a non-profit edition). Would love to hear your feedback on what organizations you’re involved with, what you’d recommend and to continue the conversation as it’s one that’s a major priority for me.

CRM Call to Action 2020

Your Annual CRM Call to Action for 2020

I’ve been harping on the importance of CRM programs for about a decade now (here’s the last time), yet it still hasn’t caught on the way it should. This is the year that changes. Like with most technology, competition, economies of scale, and innovation have driven costs down significantly. Not only are they cheaper, but the functionality and value has simultaneously increased dramatically. Now, you can even get basic versions of a CRM program for free. It’s why acquiring and implementing a CRM program is my #1 recommendation for every business, regardless of industry or target market, if you’re looking to increase revenue.

Whether you work for a large and complex company, or if you’re an independent freelancer, or if you’re a sales mercenary who is compensated by getting to “eat what you kill,” there is a CRM program out there for you. Regardless of your budget (or lack thereof), you can customize the level of sophistication of your CRM program, as they all have various subscription levels. Further, there was recently an absolutely game changing announcement from one of my CRM platform preferences (and the one I personally use for my business).

Zoho One – An Operating System for Business

“Zoho One is a broad and cohesive set of applications that work collectively to run an entire business on the cloud. It includes more than 40 web applications and an equal number of mobile apps—under a single sign-on, with centralized administration and provisioning—making it a true operating system for any business. While each application punches above its weight against the competition, collectively they deliver a knockout punch.

With Zoho One, we’ve put together all the applications a company needs to acquire and serve its customers (marketing, sales, automation, and support apps); run its operations (finance, recruiting, and HR apps); and provide all the tools for its employees to work collaboratively and get their work done (office suite, mail, personal productivity, and collaboration apps). Almost any company has these same needs. With Creator, our drag-and-drop app builder, customers can even build custom apps for unique business needs—like logistics scheduling—and put them under the same umbrella that forms the single operating system for their business.

Zoho One is available at $30 a month—or just about a dollar a day, per employee. ($35 if you pay on a month-to-month basis).”

While WIMS, Inc. is platform agnostic (we work with all of them, including SalesforceHubSpotMicrosoft Dynamics, and Insightly among others) it’s getting more difficult not to refer my clients and prospects straight to Zoho right now. There are of course exceptions, but they’ve built something special, particularly for entrepreneurs and small businesses.

Now, back to the more general CRM theme.

They all integrate with your email provider of choice, along with most social media channels, so tracking communications is easy (and automated). There are an incredible number of third-party add-ons you can incorporate depending on how robust your operations processes are to add additional functionality too.

Most importantly however, is that the ROI (return on investment) will more than make up for the expense.

CRMs help you automate your sales process. The more automated your sales cycle and follow up efforts can be, the greater volume of deals your business will be able to close. Further, the more accurate data you have about your sales cycle, the more deeply you can analyze it to gain insight that will not only help increase revenue, but ultimately help you improve:

  • Close rates,
  • Customer service and retention,
  • Length of sales cycle, and
  • Forecasting efforts and projections.

While implementing a CRM program can be a significant commitment initially, if you do it right, the benefit to your business is invaluable. With just under two months left in 2019, now is the perfect time to start planning and conduct your due diligence to start 2020 with yet another New Year’s resolution.

We’re here to help if you need it!

What is 10X Tom Schaefer Jr.

What is 10X?

If you’re an entrepreneur, a sales professional, work within your city’s start-up ecosystem, or are a follower of one of the dozens of personal/professional growth coaches, chances are you’ve seen or heard of “10X”.  This has become a hot term in the last half-decade, and I wanted to break down my interpretation of what this means, and how it’s meant to be applied to your efforts.  It started as a way to describe the “best” engineers who are 10 times as productive as their “worst” counterparts in the field of software development.  The term has been appropriated, perhaps most famously by Grant Cardone in his book “The 10X Rule”, as an understanding of the levels of effort and thinking required to break out of the average results and truly succeed.

The first component in The 10X Rule (get it here free, just pay shipping) takes a closer look at how we think about success, and how we set goals.  While we’re taught “slow and steady wins the race”, this puts our mindset in a place where average is OK.  However, average is a sliding scale.  If everyone is struggling, your struggles are justified.  We set smaller “realistic” goals, limiting our belief in what is possible.  I believe this way of thinking is rooted in the fear of failure, so we celebrate even the smallest victories.  Failure is necessary for growth.  As we fail, we learn what doesn’t work and improve our efforts for the next attempt.  Welcome failure, set audacious goals that are “10X” what you originally thought possible.  10 new clients a month instead of 1.  Raise $1 million for your start up instead of $100K.  Thinking in these magnitudes, even a “failure” of getting 3 new clients or raising $200K is still better than the original goals.

Now thinking at a higher level than before is great, but making them happen can seem daunting.  This is where the second part kicks in, and understanding the order of magnitude of your actions comes into play.  Break down what it takes to reach your goal.  Does it take 5 meetings to get that 1 client?  Schedule 50.  Does it take 10 calls to get 5 meetings?  Make 100 calls.  Don’t have 100 people to call?  Start building your network by sharing what you do with others and ask them if they know anyone that fits your ideal client profile (ICP).  Start somewhere and create the activity to get to the next step.

“But Tom, I’m a solopreneur and I’m already working 60 hour weeks, I can’t possibly work 600 hours a week, it’s impossible.”  or “Those numbers aren’t realistic, in my industry a 20% growth is considered a huge margin.”  Excuses are a justification of our fears.  We stay in a comfort zone to avoid failure.  Well a solopreneur can leverage tools like CRM to manage a sales and marketing strategy, making scalability much more attainable. A strong digital marketing campaign can grow an audience 100 times what was previously done with more traditional methods at a fraction of the price (and often at no cost at all).  The fear of failure is stopping more people from succeeding than the actual failures ever will.  Stop thinking small and start doing, because nothing ever happens overnight, and every great journey begins with a single step.

If you enjoyed reading this article, let us know in the comments below and remember to sign up for our newsletter via the form below.

Project Management

Introducing the WIMS Consulting Project Management Service Line

The WIMS Consulting project management service line was born out of our own need to allocate the time and resources to make sure and improve this area of our business. A core business tenant is that the best business models solve real problems that you can relate to and those that make a significant impact on your life. Getting the project management process built and implemented is working wonders for our business, and we realized it would likely do the same for yours.

Agile, Scrum, Kanban, Gantt. Excel, Google Sheets, Trello, Jira, Smart Sheets, Asana, SharePoint, Bitrix, BaseCamp, Zoho Project Management. We scoured the web, read countless white papers, articles, watched webinars and seminars, and researched the heck out of this problem until we found the best approach that works. We didn’t just look for the best methodology, but also the best software stack too. Because just like CRM programs (which we intertwine this with in our case) you can have the best understanding of the principles and software in the world, but if you don’t actually use and implement the program correctly it will still fail.

Many people conduct project management intuitively, or by using a combination of Outlook, post-it notes, and to-do lists. Others at least have upgraded to a Trello board or Smart Sheet subscription. It’s time to level up and incorporate a robust project management strategy as a core part of your company’s operations.

While we primarily built this for us, we quickly realized how replicable it is for our clients too. The value it brings to your overall business is profound. It helps improve communication, holds everyone accountable, ensures you’re focused and prioritizing the right things. All of which are crucial as you work to grow and scale. We spend a lot of time helping our clients get more business and increase revenue, now we’re also focusing on helping them to keep that business in a long-term and sustainable way. We’d love the opportunity to assist your company with making it happen. Reach out when you’re ready!

Project Management Offering

WIMS Consulting can act as your long-term outsourced project manager, or on an ad-hoc project basis as they arise. Our solutions are customized and flexible based on the client’s specific needs. Whether you have a system in place that needs some minor tweaks, or if you want to start over from scratch we can help. If you want to migrate to a new software platform, we got you covered.

Our primary objective is assisting you with improving your critical decision-making processes, streamlining your operations by enhancing efficiency, improving accountability, encouraging clear communication, and ultimately increasing your ROI.

Our Process

The WIMS project management service line is centered around the mission and goals of the client. To begin, we conduct an informational interview, or discovery call, where we take a deep dive into the organization’s operations to get a better understanding of the existing project management systems and policies in place (if there are any). During this due diligence phase, we learn what the client thinks is working, what isn’t, identify bottlenecks, and learn as much as we can.

This initial conversation will help frame the service and solutions proposed through having a candid conversation to understand where the organization is at and where it desires to go. When this method was undertaken internally, we included some of the questions included below.

Project Management Audit

We provide an audit of your organization’s existing internal processes. After this due diligence phase, we then take the time to thoroughly review and assess. Once this is complete, we come back to you with recommendations and next steps that we believe would lead to the most appropriate project management system for your organization. Before implementation however we will review it together to make a cohesive decision that includes the buy-in and commitment from both of our organizations.

Sample Questions:
1.    Describe your current project management/day-to-day operations process. What are three main points that stand out?
2.    Who is involved in the project planning process? Include all key stakeholders/administrators/decision makers, etc.
3.    What software (if any) are you using?
4.    What type of budget and resources do you have to solve this problem?
5.    Have you ever lost a project or not bid on one because of your current internal project management process? Have any other negative experiences occurred because of it?

Of course this is just a high level overview of what is ultimately a complex process. We’d love the opportunity to connect with you and your organization to learn more about your specific project management/operational needs and how we can assist.

 

Seed Round Capital

Notes on Raising Seed Round Capital

Throughout the past year I’ve helped lead a couple of seed round funding for company’s that I’m a co-founder of. While I’ve assisted and consulted many startups prior to that with raising money, doing it from this perspective was quite different. I won’t admit to knowing absolutely everything, but I’ve certainly learned a few things along the way that are worth sharing if you’re in a similar situation or considering it.

Seed round funding takes significantly longer than you think it will, even if you’re just going after “friends and family”. Start reaching out to potential investors at least 6-9 months before you think you’ll need the funds as it can easily take that long to close the deal and collect the check.

How are you going to structure your company, and the investment? Delaware C-Corp’s are a common favorite structure and get a ton of attention, but you don’t necessarily need to structure it that way. Do you want to offer a convertible note or do a straight equity investment (or equity crowd funding – which is a whole other game)? There are pros and cons to each of these decisions, so it really just comes down to preference and seeking expert counsel.

Get serious about documentation as there’s a ton of it required. These deals are a negation, so anticipate there to be red lining for edits on a term sheet contract, additional concessions will be asked for, etc. Secure an attorney to assist you with this side of things. While you can start with a template, always get approval from a professional before executing the deal and finalizing documentation. It will help you later.

Your valuation is likely too optimistic. But even then, a valuation is always subjective. Your true valuation is essentially what you can convince someone your company’s worth. Remember no business plan or pitch book in the history of the world was 100% accurate with their projections. Make sure your work comes across as thoughtful and realistic however to show the potential investor that you did the work and aren’t just flying by the seat of your pants.

A “yes” isn’t really a yes until the money has been transferred. Don’t count your chickens and start deploying capital until you have received it. You can get a yes (or what you perceive to be a yes) on a deal but then when it comes time to complete a wire transfer the investor can get a little gun shy. Things happen, whether they get push back from their spouse, the market takes a downturn, or perhaps it’s some other random unexpected occurrence, a deal isn’t truly closed until you have the money in hand.

Collecting the funds isn’t where it ends, rather it’s just the beginning. After you receive the investment capital, then you have to execute the vision, deliver on what you said you were going to, provide further documentation along the way, communicate progress regularly, and ideally turn a profit so you can return the capital back along with a sizable return on their investment. Not sure which is the hard part? They all are.

What are some of the things you’ve learned along the way? There are so many others to consider. I always love hearing, and learning from, a good case study about your personal experience raising funds if you’re willing to share.

Entrepreneurs Zoho CRM

Entrepreneurs! Are You Aware of the Latest Offerings from Zoho CRM?

Forget what you think you know about CRM programs. It’s time for you to rethink the entire idea that you’ve been holding onto for years now. You know, that they’re too expensive, too complicated, and not useful enough to justify tackling those challenges. It’s just not true anymore. I understand why you think that way, but until you’ve seen the latest software package that Zoho CRM has been rolling out it’s simply misguided. Allow me to enlighten you a bit.

While I remain a raving Salesforce fan, I’m not going to suggest you take on a CRM program of that magnitude (unless your enterprise fits a certain set of criteria). I still love HubSpot as well but will save that for another post. Right now, I’m here to inform you about the crazy new suite from Zoho that you must at least take a few minutes to check out. If you’re a solo entrepreneur/freelancer, or you have all the way up to 25 employees it will help revolutionize and scale your business like crazy.

Now I was already geeking out a couple months ago when they launched Zoho One. But then they went ahead and added too more applications the other day which literally blew my mind. Zoho Flow “automates business workflows by connecting your apps. You can build smart integrations to break the information silos in your business.” This works for both internal Zoho apps and external ones as well, think Zapier or IFTTT. The other is Zoho PageSense, which is “the Complete A/B Testing and Website Optimization Software. Get ready to increase website conversions and skyrocket your revenue.”

Now, for transparency purposes I must inform you that a large part of my business is built around assisting companies of all sizes and industries to build and implement CRM programs like these. BUT, I legitimately use this one for my own business. It not only has helped me to get better organized with project management and more efficient and streamlined from an operations perspective but leveraging it has tangibly helped me to grow the revenue of my business significantly as well. I’m all about automating as much as possible and these new features allow you to do just that.

If you want to explore what incorporating a CRM program would look like for your business, reach out to me and I’d be thrilled to assist. Whether it’s Zoho or one of the many other incredible programs out there, we can certainly get you on the right track to implementing it correctly to start demonstrating ROI asap.

Before moving forward, to get a better idea of what all they have to offer, take a look at how they articulate it:

Zoho One is a revolutionary all-in-one suite to run your entire business—an unprecedented 35+ integrated applications on one account, with complete administrative control—for a price that will change the way you think about buying software.

Zoho One includes applications with complementary mobile apps so you can run your entire business on one suite. This is the real deal here: You’re getting full-featured, enterprise editions of the entire Zoho suite. That means being able to reach customers, grow sales, balance your books, and work in productive and collaborative ways from any device—all with a single login and password.

Zoho One connects your sales, marketing, customer support, accounting, and more, while also giving you contextual integrations to communicate and collaborate with colleagues, customers, and vendors. With an integrated suite like Zoho One, you’ll always have the right information in the right places, empowering your employees to do great work. Traditionally, this has required an astronomical IT budget and an army of consultants to force everything together. Zoho One makes all that cost and complexity a thing of the past.

Zoho One is enhanced by Zoho’s growing developer ecosystem, marketplace extensions, and global partner network. We’ve made Zoho One extendable so our technology partners can customize our applications to meet your unique needs, across a broad set of industries. These custom apps and extensions of our already powerful applications are made available to you through our Marketplace. Meanwhile, our 1,000+ implementation and training partners are available to help you locally as needs arise.

CRM Revisited (Again): It Should be Your #1 2018 Priority

I’ve been harping on the importance of CRM programs for about a decade now (here’s the last time), yet it still hasn’t caught on the way it should. This is the year that changes. Like with most technology, competition, economies of scale, and innovation have driven costs down significantly. Not only are they cheaper, but the functionality and value has simultaneously increased dramatically. Now, you can even get basic versions of a CRM program for free. It’s why acquiring and implementing a CRM program is my #1 recommendation for every business, regardless of industry or target market, if you’re looking to increase revenue.

Whether you work for a large and complex company, or if you’re an independent freelancer, or if you’re a sales mercenary who is compensated by getting to “eat what you kill,” there is a CRM program out there for you. Regardless of your budget (or lack thereof), you can customize the level of sophistication of your CRM program, as they all have various subscription levels. Further, there was recently an absolutely game changing announcement from one of my CRM platform preferences (and the one I personally use for my business).

Zoho One – An Operating System for Business

“Zoho One is a broad and cohesive set of applications that work collectively to run an entire business on the cloud. It includes more than 35 web applications and an equal number of mobile apps—under a single sign-on, with centralized administration and provisioning—making it a true operating system for any business. While each application punches above its weight against the competition, collectively they deliver a knockout punch.

With Zoho One, we’ve put together all the applications a company needs to acquire and serve its customers (marketing, sales, and support apps); run its operations (finance, recruiting, and HR apps); and provide all the tools for its employees to work collaboratively and get their work done (office suite, mail, personal productivity, and collaboration apps). Almost any company has these same needs. With Creator, our drag-and-drop app builder, customers can even build custom apps for unique business needs—like logistics scheduling—and put them under the same umbrella that forms the single operating system for their business.

Zoho One is available at $30 a month—or just about a dollar a day, per employee. ($35 if you pay on a month-to-month basis).”

While WIMS, Inc. is platform agnostic (we work with all of them, including Salesforce, HubSpot, Microsoft Dynamics, and Insightly among others) it’s getting more difficult not to refer my clients and prospects straight to Zoho right now. There are of course exceptions, but they’ve built something special, particularly for entrepreneurs and small businesses.

Now, back to the more general CRM theme.

They all integrate with your email provider of choice, along with most social media channels, so tracking communications is easy (and automated). There are an incredible number of third-party add-ons you can incorporate depending on how robust your operations processes are to add additional functionality too.

Most importantly however, is that the ROI (return on investment) will more than make up for the expense.

CRMs help you automate your sales process. The more automated your sales cycle and follow up efforts can be, the greater volume of deals your business will be able to close. Further, the more accurate data you have about your sales cycle, the more deeply you can analyze it to gain insight that will not only help increase revenue, but ultimately help you improve:

  • Close rates,
  • Customer service and retention,
  • Length of sales cycle, and
  • Forecasting efforts and projections.

While implementing a CRM program can be a significant commitment initially, if you do it right, the benefit to your business is invaluable. With just over two months left in 2017, now is the perfect time to start planning and conduct your due diligence to start 2018 with yet another New Year’s resolution.

We’re here to help if you need it!

The Potential ROI of Social Media

By now I shouldn’t have to articulate the value or justify the need for a social media strategy for your business. There are literally thousands of articles, white papers, and studies that have been written and distributed highlighting facts, figures, and metrics galore. Rather, I wanted to share a couple recent social media success stories and provide some tangible action steps for you to implement because that’s what this blog is for. As I’ve mentioned publicly, the new mantra is: Add Value.

LinkedIn Is Still King (depending on your target market)

I get referrals on LinkedIn all day long, but then again, I’m fairly active and present on the network. It’s my obvious preference with regard to the long game of business development. Every time I meet a new person at a networking event, or get introduced to a prospect or potential COI (center of influence/referral source) via email my first follow up step is to connect with them here. It just works and compounds.

Another tip: if someone asks you to introduce them to someone you’re connected to: do it. What do you have to lose? Sure, there are exceptions to this, but if you’re not comfortable with that then why are you connected to them in the first place? Even if I don’t know them all that well, I just disclose that fact in the intro and let that person make the call to follow up or not. This simple act often leads them to reciprocate when needed, and is a good reason to reach out to the other person too. Try this: “Hey I know it’s been a while, but so and so reached out to me and asked if I’d make an introduction, figured was a great reason for me to follow up with you too.” The answer is always no if you never ask.

However, you can’t neglect the others such as Facebook, Instagram, and Twitter

Sometimes you spend days and weeks shouting into an empty vacuum of time and space. The social media vortex swallows your content and garners little more than a like or two, and maybe a share or a re-tweet. You have great content but no one is really seeing it, so you get discouraged and post less frequently or stop altogether. BAD MOVE.

Now these results aren’t typical, but in addition to managing my company’s social media accounts along with a few clients, I also do it for some of my joint ventures. Recently, a life-altering event occurred when we received an inbound lead worth well into the high six/low seven figures. And this deal came in from a single TWITTER post. No joke, you read that right. Even if I never get another lead from Twitter again, that one tweet will pay for a life time of tweeting. The point is keep sharing, and sharing, and sharing.

Ask and Ye Shall Receive

Make sure to be very specific about what you’re looking for. When asking for a general referral, it’s often answered with crickets. It’s not that people don’t WANT to help, rather they just don’t know exactly how, or even what you have to offer. If they have to think too hard about it, you’ve lost them. Therefore, its best to keep things simple and specific.

For example, I recently posted that I was looking for a referral to accounting firms with annual revenue over $5 million. I have an abundance of experience in that space and currently have a gap in my client portfolio. Literally within 3(!) minutes of posting it on Facebook I was introduced to a dream prospect that would be a perfect fit for my business. And 10 minutes after that I was introduced to another one equally as good.

Action Keeps You Top of Mind

Even if you do nothing but share existing content from sources such as Entrepreneur Magazine, Inc. Magazine, and others that regularly post timely business-oriented content online you could still see ROI. Take it a step further and curate it with a nugget of commentary and context and over time that’s enough to garner goodwill and establish yourself as a thought leader and resource. This really adds up and pays dividends over the long-haul. People in your network will appreciate your contribution to enhancing their education along the journey.

As always, if there’s anything I can ever do to assist you along your social media journey, please don’t hesitate to reach out! And don’t forget to check out the WIMS Blast Off Bundle: 10Kto10X if you haven’t yet.

Marketing Process Outsourcing

The New WIMS Inc: Putting In-House Marketing Departments on Notice

Unlike my typical blog posts, this one is certainly going to piss people off, including current and former colleagues, friends, clients, and prospects. While I usually try to avoid that, I can’t any longer as some things just need to be said. Change can be a scary and complicated thing, but there’s just a better way to do business and it’s nothing personal.

Now, the trend of outsourcing is far from a new or innovative concept. Yet companies like professional services firms continue to allocate extremely high budgets of $500,000-$1,000,000 and often much more to their in-house marketing departments. They do this despite the fact that they could spend a fraction of the cost while simultaneously getting significantly better service and results.

Regardless if you prefer to keep your team in house or to use a consulting firm, one thing is constant in either case, you need to DEMAND to see ROI. There are some advantages to keeping the team in-house I’ll admit that, but you should at least be able to make an apples to apples comparison between both approaches.

The way to do that is ROI, the objective metric that evens out all playing fields. I’ve seen many CMO’s apply the “smoke and mirrors” strategy year after year. They avoid accountability by overlooking past failures while waving the amazing, shiny new “marketing strategy” that they’re going to deploy this year. This is often just the old strategy repackaged to appear new however. CEO’s looking to avoid conflict accept it as a cost of doing business and then proceed to kick the can further down the road.

Now while there are plenty of exceptions, as there always are when dealing with people, there’s something I’ve often observed in the corporate world, I call it the “comfort theory.” Essentially, when you’re paying someone a predictable and stable salary it inherently allows most people to start cutting corners and reducing the quality of their work because they can get away with it. Not only is there a reduced quality of work, but why subsidize employee’s internet browsing time and social media addiction when you can just pay for the work that’s actually done. Besides, I doubt they’re going to give you a cut of their fantasy football winnings despite squandering hours a week of your time managing their team.

Don’t just take my word for it, conduct your own experiment and see for yourself. The next time you’re in a meeting with your marketing department demand more out of them or suggest changes, and watch the level of pushback, reluctance, and resistance you get. On the contrary call a consultant about a new project idea and watch them passionately geek out about all the possibilities.

I understand the comfort of familiarity and the status quo believe me, but is it really worth spending $50,000-100,000 on a salary for someone to just write an occasional blog post or article, blankly stare at a twitter feed, or create an occasional ad. You can get the same result or better for a tenth of the cost in many cases.

As another experiment, this Friday afternoon say around 3pm, take a walk around your building and see how empty the offices and cubicles are. The mentality of being an employee and working for your boss vs. being a client and working for your business partner can’t be compared. Working with independent contractors that need your business takes the quality of work to another level. They are mini-CEOs trying to better their lives, they’re not just punching a clock while desperately waiting to leave the office early on Friday afternoon. They’re the ones working at midnight on a Saturday because they’re hungry and ambitious.

You create the best work when you absolutely need to, like when writing a paper the night before it’s due. There’s something about having your life depending on it that generates this hyper-focus of productivity. Imagine having a team of people producing this kind of work every day because that’s how they approach their live, very deliberately.

Typical counter-arguments for in-house departments include things like, “oh but we know the brand so well,” or “what if someone urgently needs a brochure for a sales call?” It may not be a popular sentiment, but people are easily replaceable. We work with various brand guidelines all the time and pick them up very quickly. Also, I’ve seen countless desks with stacks of brochures piled high collecting dust, as much as marketers may try to convince you otherwise, your beautiful brochure is not what’s going to win you new business, relationships are.

Perhaps this post is like that old “Magician’s Greatest Secrets Revealed” show where the masked magician showed you how the tricks were really done and made a lot of magicians extremely angry. If you’re feeling that way right now I hope you take this opportunity to step your game up and prove me wrong.

Changing a decades long mindset of keeping marketing teams in-house is going to require evolution and a rebuilding process, but there’s definitely hope. It will force people to BE BETTER. Think about the Golden State Warriors a few years ago. They were very bad, but they had some decent and promising players, they stuck to their long-term plan to build their team, make a few strategic moves and then a few years later they won a championship. The metaphor is very relative in business as well.

For the sake of full transparency, this long-winded blog post has the additional goal of announcing the new WIMS, Inc. We now offer a complete suite of marketing, CRM, and business development services that are provided for literally a fraction of the total cost you’re paying for your entire marketing department. By leveraging strategic partnerships and a deep team of independent contractors we are now able to offer literally any marketing service, and to any size firm in any industry. If you’re interested in video, we can develop the content, build an entire distribution network, and even create your own online channel. If audio is your thing, we can help with the creation, publishing, and promotion of your own radio show and/or podcast. If you need a website, an ad campaign, online content creation, or social media network, whatever it is you’re looking for, we can help facilitate.

Give us a call or send us an email and we’ll be happy to provide you with a FREE consultation to see if our companies would be a good fit to work together. Part of building strong long-term relationships includes occasionally offering some free advice, which we do happily. What do you have to lose by at least evaluating whether it’s worth pursuing a potential 6-figure a year cost reduction in your marketing expenses?