We know information is the critical building block of any type of content. Using the right kind of content helps us to get our information into the right hands—our target audiences. If we want to do this well, we need to have budget dollars for content. Budget approval for content means appealing to the C-suite and convincing them to invest in this all-important fuel. In this chapter, we learn how to make the case for content within your organization and to your C-suite.
First, a story about why content is so important.
Who Is in the C-Suite?
The term C-suite refers to the top executives within your company:
- Chief Executive Officer (CEO)
- Chief Operating Officer (COO)
- Chief Technology Officer (CTO)
- Chief Financial Officer (CFO)
- Chief Marketing Officer (CMO)
- Chief Information Officer (CIO)
When people research vacations, they often look at different hotel Web sites to learn more about their amenities, rooms, and services. Last year, while planning a vacation, I went to a hotel’s Web site and made sure that the suite had a small kitchenette, because sometimes I like to make my own food instead of dining out for every meal. There were six types of rooms available and each one had its own Web page. On each of the six pages, a shaded box (see Figure 2.1) appeared on the page. The name of the room changed depending on which type of room it was: a one-bedroom suite, a two-bedroom suite, and so on.
After seeing the box on every single page, I assumed that every type of room had a fully equipped kitchen. But, when I arrived at the hotel, guess what? No kitchen. The Village Guestroom, I learned, was not one of the types of hotel rooms that had a kitchen. Those were only available in the top four tiers of rooms. I shared this misleading/incorrect information with both the hotel and the travel credit card company who had booked my stay. The travel credit card company agreed with me and asked the hotel to upgrade my room. Free.
Because someone in charge of the Web site did not understand the importance of content, my stay cost the resort about $400 in revenue. The descriptions about what amenities to expect in every room are confusing. If you multiply that amount across the resort, that one mistake in their content could be costing them thousands of dollars every year. Why? Because there is a lack of understanding about how important content is to the bottom line.
Understanding Business Objectives
In Chapter 1, we talked about understanding business objectives and thinking like an executive. To sell the importance of content to the C-suite, you must understand how the C-suite thinks and what is important to them as leaders of the company. As a content professional, you must understand the business from the ground up and recognize the need to increase profit, be cost-efficient, and out-do the competition. You need to identify and share stories like the one above to demonstrate how important content is to the business.
In the workshops about content strategy that I teach, I often show the audience a picture of Jack Welch, who was the CEO of General Electric (GE) for more than 20 years. I talk about GE’s management strategy, which is world famous. At GE, they review every employee’s performance annually. If you perform in the bottom 10%, you are most likely let go. If you perform in the top 20% of the workforce, the executives at GE recognize you as a potential GE rock star (Knudson, 2012).
At that point, the management team tells the employee she has what it takes to rise to the ranks of management at GE. They make her an offer: “We will move you around the world, every two years, into many different positions. If you want to learn about refrigerator cooling, we’ll send you to China to learn about refrigerators. If you want to learn about accounting, we’ll send you to accounting. If you want to learn about digital strategy, we’ll move you to digital strategy.” The goal is to teach these potential future executives at GE the paramount lesson: How the company makes money.
Learning about how a company makes money is not just the job of the executives- in-training or the executives already sitting in the C-suite. It must also be the primary goal of a content professional. A content professional is responsible for two things:
- Marry content development to the business and communication goals of the organization
- Support the customers in accomplishing their tasks
Growing Leaders at GE
General Electric is world renowned as a company that knows how to grow leaders. Its focus on future leaders absorbing everything they can about the company is hailed as a brilliant strategy. The process starts with the traits they insist all leaders have:
- Imagination
- Clear Thinking
- Inclusiveness
- External Focus
- Expertise
Harry Elsinga, Manager of Executive Development at GE, explains the importance of “external focus.” Elsinga says, “The external focus trait is simply: do you understand your markets, are you known in the industry and do you know your industry?” Elsinga is reinforcing the importance of Rule #1. Design for them, build for them, and sell to them.
As a content professional, you need to understand the organization’s business and communications objectives. (In some cases, those goals are murky. We will talk about that later.) Until you master those objectives, you cannot create great content.
Defining Business Objectives
Your business objectives are what your company plans to do to grow. Most businesses plan for growth. To grow, executives may consider introducing different products or services, adding to the sales team, enlarging the marketing department, and looking to move into new industries or verticals.
If you are a content professional, your job is to comb through the business plan and identify precise goals for growth. Then you need to marry your content plan to those business objectives.
Meeting the Achievement Threshold
Everyone has an achievement threshold. Even if you work for a not-for-profit organization, and don’t necessarily have a profit-driven growth strategy, you still have plans and goals. Your job is to work toward expected achievements. This is the achievement threshold; to meet that threshold, your company must have a business strategy.
For example, you may work at a government agency collecting and analyzing data about the use of Social Security benefits such as food stamps in the United States. Lawmakers will use this data to analyze the value of these benefits. (Food stamps are stipends given to low-income households to buy food staples.) Your achievement threshold is providing lawmakers with up-to-date and current data. If your business strategy doesn’t help you meet that threshold—say your department’s data gathering programs are not up to par—the analyses will be poor and you will be reporting incorrect information on a very important program affecting millions of people.
To review:
- Business objectives: The goals your organization has to grow or succeed in.
- Achievement threshold: How you measure whether you have reached your business objectives. (In many industries, the achievement threshold is profit, but in other industries, it may be something else.)
Find out your organization’s business objectives, as well as the achievement threshold. Armed with these facts, you can create content that makes a difference.
Achievement Threshold = Profit Motivation
From now on, when we talk about your profit motivation, we’ll be talking about your achievement threshold. So if you do work for a government, association, NGO, or not-for-profit organization, know that I’m still thinking about you.
Understanding Your Sales and Business Cycles
Sales people like to talk about sales cycles. A sales cycle is the length of time it takes to close a sale. For some businesses, this is 30 days. For others it can be 3–5 years. You must know how long it takes to close a sale when thinking about marrying your content objectives to your business goals.
If you’re not familiar with the sales process, it is important that we review it here. For those of you who have this down cold, take a minute and read it again, so that we’re all on the same page. I’m including a sales cycle description so that we all understand how a sales cycle works. Then your content can be developed to accomplish the business objectives efficiently.
Sales and marketing professionals talk about a sales funnel (Figure 2.2). As Michael Hogenmiller, a media professional I work with has pointed out; the sales funnel should really be a sales loop, which we will refer to as a customer loop (Figure 2.3) (Leibtag, 2013). We always want to have contact with our customers so we can continue our relationships with them. Instead of talking about a sales funnel, we are going to talk about a customer loop.
Let’s define some terms that sales and marketing professionals use when they talk about creating, nurturing, and generating leads:
- Leads: Leads are prospects that you potentially have the opportunity to do business with, or get donor dollars from, etc.
- Lead generation: When we talk about generating leads, we’re talking about how we typically acquire prospective customers. Many Web sites use Request for Information, or RFI forms, to generate leads. They offer a piece of content in the hope a prospect will supply an email address to download the content he wants.
- Lead nurturing: Once you have a lead’s contact information, you nurture that relationship. Think about the last time you bought a pair of shoes online. The company starts sending you emails, reminding you to shop on its site, and sending you coupon codes. They’re courting you, nurturing the relationship, hoping you’ll bite. In Business to Business, or B2B marketing, lead nurturing typically happens in the form of email newsletters, direct mail, and phone calls.
- Buying stage: This is where you try to determine the stage at which your lead is in the buying process. For example, is he ready to buy? Just looking around? Not sure if he even wants to buy? When I did a project for a higher education institution, we developed two downloadable pieces of content: 12 Reasons to go back to school in 2012 and Are you ready to go back to school? Depending on which piece of content the lead chose to download, we learned something about where he was in the decision process. Knowing the buying stage helps with the next item—lead scoring.
- Lead scoring: Sophisticated organizations use lead scoring to decide which leads to pursue and which leads will probably end with no business. By scoring leads via a series of metrics, you can determine which leads are qualified. Qualified leads have the budget and interest to do business with your organization.
- Lead conversion: Conversion happens when the lead becomes a customer, meaning they buy! Then they might reenter the customer loop and become a new lead all over again, as they decide on their next purchase. However, their score may be higher now because they became “converted” to a paying customer. If, however, they don’t return for a long time to buy from you again, depending on your sales cycle, that lead’s score may fall.
The more you read about marketing, the more familiar you will become with the types of marketing funnels and loops that filter and qualify leads. Some are quite sophisticated, depending on the type of organization and its business objectives.
One of the goals of content is to continue this customer engagement cycle via the customer loop. By continuing to engage with customers on a regular basis through content, you can keep the conversation going. Let’s talk about the different types of media you can use to spark those conversations and interact with your target audiences.
Different Types of Media
With the incredible deluge of data and information that businesses have now, we all have to keep up with the different forms of media, and how quickly things change and mutate. Let’s define the different types of media an organization can take advantage of to achieve its business objectives:
- Paid media includes search engine marketing, advertising, and paid search (pay-per-click campaigns) that you can purchase from third-party organizations.
- Owned media is all the media you develop and use for your organization, including the digital content that lives on your Web site and other digital properties, like social media channels.
- Earned media is media generated by someone other than your own company: Journalists, media outlets, bloggers, and public relations vendors working to create buzz about your products or services.
When you‘re making the case for content, understanding the value of different forms of media will help you make better decisions about the types of conversations you want to have with your target audiences. There are also certain things you can do to control the conversation. Understanding the different forms of media will help you to do this. Let’s see why.
Paid media is a way to pay for attracting traffic and attention to your digital properties, so you can start new conversations with new prospects, and continue to nurture existing prospects. You are controlling the conversation when you use paid media by corralling your audiences toward your content.
Owned media is critical to establishing yourself as an important voice within your space. Creating your own content and engaging with your customers means you now have a direct line to them. You have a better chance of controlling the conversation if you use owned media because you are producing content that speaks in your brand’s personality.
Creating your own content, in most cases, is cheaper than trying to earn media. Most companies engage public relations firms to capture the attention of major media outlets. With the rise of social media and changing patterns of content consumption (people don’t necessarily watch the nightly news anymore), earned media may not be the best way for your organization to attract your target audiences.
Earned media can gain you lots of credibility—if the vibe is good and positive. However, as we all know, there are also the negative reviews, comments, and blogs that frighten the C-suite back into the decade of broadcast advertising and direct mail. It’s true that earned media can be extremely powerful. However, you must have plans in place for what to do in case it goes awry.
Analyzing the Current State of Affairs
Now that we are all on the same page about business objectives, as well as how sales teams think, it’s important you analyze in great detail the current state of your content before you waltz into the C-suite to make your case for why content is the fuel that drives your organization’s growth.
These are some of the questions you should have the answers to before you talk to your decision makers:
- How much content do you currently have?
- Where is it?
- Does it live on your Web site or inside your social media channels?
- Does it live elsewhere on the Web?
- Do you have user-generated content (content that your customers create, like comments)?
- How does the current content perform? Does it attract leads?
- Do you have to use paid media to attract leads to your digital properties?
- Do earned media help you drive leads toward your digital properties? (Think of a review in a popular magazine about your product. Did that spike an increase in traffic to your Web site?)
- Do you have analytics in place to measure your content’s performance?
- What’s working? What’s not?
Gather as much information as you can about the overall state of your content. You may also want to pick one or two specific examples to back up your points.
Approaching the C-Suite
We have talked about knowing your audiences in terms of creating content. At the start of your content process, you will need to convince your most difficult audience—the C-suite—that content is vital to the success of the company. You need to be well prepared to present an honest story to them. Remember, as with any audience, you need to understand where they are coming from before you walk in the door.
Executives and leaders make decisions based on certain criteria: data, business objectives, workforce issues, and what will generate decisive results. Investing company dollars in content is not necessarily one of those things that is an easy or clear sell. One of the approaches I advocate is to propose a pilot project. This way, your executive leadership feels they are making a small investment to see if you are right about the power of content. Once that pilot project is complete, you should have the data you need to convince them to invest in content full-force.
The following story illustrates how a pilot content project helped one of my clients to begin investing in content to fuel their sales cycle. The sales force had a challenge—they felt they were in the midst of what they considered a long sales cycle—six months. They wanted to find a way to shorten it. That was their business objective: Shorten the sales cycle.
When I asked them what they did to nurture leads, they looked at me with blank faces. “We call them every month to check in?” responded one of the sales people.
Content Works
Business objective: Shorten the sales cycle
Solution: Create a lead nurturing program with available resources (a list of 800 previous and potential customers)
Outcomes: Converted a prior customer to a customer for another product within three months
Conscientious about entering leads into their sales database, this company had accumulated more than 800 email addresses to nurture leads. I helped them design an email newsletter that went out twice a month to those leads, based on the company’s messaging architecture. (We’ll talk about messaging architecture in Chapter 7.) The company offered a suite of four products, so every two weeks we rotated through those four. This meant that each lead received four newsletters in two months that covered all of the organization’s products and services.
The strategy paid off. Instead of waiting passively for customers to contact them, the company had aggressively promoted products in a systematic way, gaining interest from at least some of the 800 leads they had gathered. After receiving the email newsletter, a previous customer that used this organization for one product called to ask about a different product. The customer didn’t know this company sold the other product—and ultimately the company made the sale.
In this case, the sales cycle for a completely different product was created and completed in one shot. It was a surprise, and a happy one. Hopefully, the “new” customer will go on to recommend the product to others.
If your job is to sell content within your organization, find a story like the one above to sell your case. Or, present the problem and describe how you think better content will help solve the challenge, like the wrong hotel room description at the beginning of this chapter. Explain that using content as an outreach channel builds relationships that lead to smoother deals and supports the communication and business goals of the organization. Start with something small so that no one feels that the risks are outlandish.
Understanding the C-Suite
The members of the C-suite are the first stakeholders in your development of content. They are also your most important and challenging audience. Knowing what motivates them, and what they care about, will help you present the best possible case for why they should invest in content. In the same way you carefully prepare your customer personas, work with your team to prepare the personas of your C-suite. Ask around your organization about different executives and the data that matter to them. Use that knowledge to drive the examples you choose to present.
Executives are goal oriented; they are interested in growing the business, making a profit, and cutting expenses. Illustrate to them how the content is critical to the revenue generation process. Convince them of its value. They each have their own goals to meet as part of the business’s overall strategic plan, so you need to show how you can support them with content. Explain that content is a conversation always taking place between the organization and its customers. If that conversation is poorly mapped, or doesn’t even exist, how can the company expect to do business?
What the C-Suite Cares About
The C-suite cares about:
- Increasing profit
- Increasing productivity
- Reducing communication, travel, and other costs
- Improving employee job satisfaction (Gogo, 2012)
- Outdoing the competition (Harris, 2012)
Most important to the C-suite is making a profit. They are judged every year on how much money the company makes. So don’t forget about how much they focus on the bottom line. When you can demonstrate—as in the example of the lost revenue from the wrong description of the hotel room—how you can trace a direct line from revenue to content, you will probably see them show a lot of interest.
How to Explain Content to the C-Suite
When you need your C-suite to green light a budget to create a content project, make sure you first explain the relevancy of content in general. Below are some tips on explaining content marketing to the C-suite:
- Priorities, priorities: The first thing you need to think about is how to tie the impact of content marketing to business priorities. The C-suite doesn’t care about clicks and opens; they care about increasing revenue and decreasing costs. Build a business case for content within your organization, even if you have to tell a bad story.
- Customer personas: Why not create content that is persona-driven to convince your executive team? Find out specifically what they care about that content can address, and create a series of emails to convince them how you would reach one particular type of customer.
- Return on investment: See the sidebar “What ROI Is All About” on the next page.
- The competition: It won’t hurt to include examples of your competitor’s content to make your case. Has a competitor launched a new eBook? Ask your C-suite, “What if all the engagement from a new eBook could be ours?” If you can prove that your company has performed poorly against the competition in online content, you are making a very strong case.
- Sales impact: Get the VP of Sales on your side and have him/her go to bat for you. Work together to forecast what the revenue impact could be if salespeople were able to increase their close rate due to having more highly qualified leads (Harris, 2012).
- What do they do? Ask them to think about how THEY access content: According to a recent survey from SiriusDecisions, targeted digital content is the ideal entry point into the lives of busy executives. It stands to reason that if your C-suite depends on you selling prospects, they will give you the budget dollars you need to do that (Pisello, 2011).
- Talk the talk: Talk in their language (not “engaging” customers, but in terms of $$). Sixty percent of online marketers intend to increase their content marketing budgets. Therefore, if a company doesn’t aggressively enter this space, they risk falling behind competitors. While businesses that offer professional services top the content marketing adoption scale at 94%, even blue-collar industries such as manufacturing and processing (83% adoption) intend to get more involved. In other words, no company can afford to ignore content. The most effective content professionals spend more of their company’s advertising budget (up to 31%) on content marketing and have fewer objections from the C-suite. They also use a more diversified approach, using a bigger mix of articles, social media, YouTube, blogs, and other outlets (Pisello, 2011).
- Customers! Show them where the customers are. This is an excellent opportunity to share your research on personas. Convince them to spend time with their target audience. It will open their eyes to the meteor-like impact the right content can have on the sales cycles.
What ROI Is All About
When you’re talking to the C-suite, you must measure Return on Investment (ROI) in a way that makes sense to them. ROI is a finance metric, so you need to be able to track actual dollars coming in or dollars saved. If you cannot show actual money changing hands, then you are not measuring ROI.
However, you can demonstrate that proper content management improves the productivity and creativity of your staff. There’s return on time and there’s also return on investment. Both count to the C-suite (Pisello, 2011).
Return on Time Examples
- Improved efficiency: Publishing content becomes easier and smoother with the introduction of a content strategy, which is a production cycle for your digital content. Systems create freedom, which means your team spends more time being productive.
- Fewer mistakes: With good governance standards, it is less likely your team will have to “fix mistakes on the Web site,” leading to better productivity.
- Sales tracking: The sales force is better able to engage leads that are primed to buy because they consistently engage with the content (open emails, comment on blogs, and so on).
Return on Investment Examples
- Content drives sales: You can actually track the relationship between certain blog posts or eBooks and customers who entered your customer loop and converted.
- Fewer missed sales: With better content, you miss fewer sales (think of the site that doesn’t tell you how high the coffee table is, or that doesn’t tell you how long it takes to ship).
- Do more with less: With an effective content publishing system, you can accomplish more projects with the same employees (Smith & Leibtag, 2012).
How to Convince Each Member of the C-Suite About Content
Here are some tips for selling content to the C-level executives (Dale, 2012):
- Chief Executive Officer: CEOs want buyers to choose their product or service over the competition, while simultaneously keeping budgets in line. You need to make the case to the CEO that customers learn about what your company offers by engaging with your content. If the customer finds the answers they need through the content, and comes to trust the brand, a sale is more likely. Explain how you can measure engagement with your content by analyzing sales, conversion, and overall awareness of your organization.
- Chief Marketing Officer: Marketing is more measurable thanks to new technology. Because buyers can learn a lot about your company before they choose to contact you, the buyer expects to have a great deal of information. The CMO needs to understand what it takes to have and implement great content. You need to show the CMO the daily, weekly, and monthly tasks and overall workflow associated with running your content projects. Include time and budget estimates for planning content, assigning content to writers, editing articles and blog posts, publishing posts, promoting posts to social media sites, and repurposing content in other channels, such as email. CMOs also want to keep their internal customers happy (all the other members of the C-suite), so demonstrate a direct link between the departments and how information flows back and forth. Capture your CMOs attention by showing you understand her concerns for both internal stakeholders and external prospective customers.
- Chief Financial Officer: Finance is concerned with how to grow the business while controlling expenses. Good content becomes more valuable year after year and can generate more leads at lower cost. A recent McKinsey study found that prices drop by 10% or more when buyers do online research, and do not see a meaningful difference between options. Help your CFO understand how strong content can help differentiate your product from the competition. By doing so, you can command higher prices for your goods and services. In turn, profits go up (Dale, 2012).
- Chief Information Officer: It’s not hard to understand how the IT teams are often wary of new ideas about how to produce and regulate content—they know that most of the implementation and running of this will probably fall on them. Therefore, it is important to get the CIO on board early in the process, be prepared with details about hosting, data, and back-ups, and let her know what kind of support you will need over time (Dale, 2012).
How to Explain Content Strategy and Customer Engagement (for B2B and B2C)
Table 2.1 shows the stages of customer engagement. Use this to guide your executives about how content drives your achievement threshold by engaging customers. You can use the Customer Loop in Figure 2.3 to map the process visually.
Customer Engagement | ||||
---|---|---|---|---|
Stage |
Goal |
B2C |
B2B |
User Action |
I |
Get their attention (engaged contact with the brand) |
Acquisition |
Lead generation |
|
II |
Active consumption of content |
Engagement |
Lead nurturing |
|
III |
Identification of lead |
|
Lead scoring |
|
IV |
Bought something; donated money; cited research |
Conversion |
Conversion |
|
V |
Continue to consume content |
Retention |
Re-engagement |
|
VI |
Brand audience |
Buy more products or services |
Buy more products or services |
Share your name with their networks |
Content Cheat Sheet to Convince the C-Suite
Here are some approaches you can use to help convince and prepare executives to sign off on content projects:
- Set expectations: Clearly explain that establishing a content strategy (online publishing cycle) will take 6–9 months to show true results. However, you would like to try it as a small pilot content project so the company can examine if it will work.
- Include them: Ask them if they would like to “write” one blog post a month. This will raise their visibility—and they do not have to do anything as your team will write it for them (if they so choose).
- Keep them informed: Provide regular updates on a bi-monthly basis. This way they will have all the facts.
- Publicly celebrate the wins: Make sure you tell them about the wins!
Overriding the Objections
Sometimes executives need to warm to the idea of using content to drive revenue. The concepts of traditional advertising are familiar, but they may not want to devote a huge portion of their budget to this new-ish enterprise of communicating with people through digital content. Table 2.2 shows a list of typical objections and possible responses.
Objection | Your Response |
---|---|
It won’t work |
Business is about creating relationships. We do this through a series of conversations. Content allows us to do this in a smooth and efficient manner. |
We don’t have the time or resources |
I’ve actually mapped each person’s time in the editorial department. These are the three people I’d like to select for this project. Looking at their time, I think we can redistribute their efforts, so that they can find time to devote to this project. Obviously, their core competencies will remain priorities. |
How will it affect the bottom line? |
Our goal is to drive revenue by using content and a systematic publishing system. Therefore we believe we can significantly drive revenue. What we’d like to suggest is that we begin with a small pilot project and see what results we gain before moving on to larger content projects. |
How can you be sure we will say the right thing? |
By creating customer personas and understanding the types of conversations our customers want to have with us, we will have the opportunity to talk to them directly. |
What will legal say? |
We’re going to use a content strategy—an efficient online publishing system that includes legal in the editorial process. We will consult with them about content that is potentially litigious. |
Summary
Every business or organization has an achievement threshold. Make sure you understand what it is before moving forward with any content projects.
- Understand your sales cycle, lead generation tactics, and your current state of content affairs. Perform research to find out what you might want to change before you approach your C-suite for executive buy-in.
- Walk into the C-suite prepared to answer their questions.
- Be prepared for objections.
- Prepare your executives and stakeholders to understand that this effort takes time to be successful. Ask them to define what success looks like to them so you can set expectations.
Now that we’ve learned about making the business case for content, we’re going to talk about how to get the crucial buy-in you need from stakeholders—the people inside and outside your organization who understand the information you need to create great content. Rule #2 will teach you how to do just that.
References
Dale, F. (2012, November 8). “Selling content marketing to the C-suite.” Retrieved from Demand Gen Report.
Gogo, B. (2012, June 19). “Convince the C-Suite an enterprise social network makes sense.” Retrieved from tibbr.
Harris, J. (2012, May 25). “How to explain content marketing to the C-suite.” Retrieved from Content Marketing Institute.
Knudson, L. (2012). “Generating leaders GE style.” Retrieved from HRM Report.
Leibtag, A. (2013, January). Personal conversation with author.
Pisello, T. (2011, June 23). “Selling to Mahogany Row? Roll out the WebÂcarpet.” Retrieved from Content Marketing Institute.
Smith, R., and Leibtag, A. (2012). “6 secrets of social media superstars in healthcare.” Retrieved from ebook, published November 19, 2012.