The SME Growth Podcast by Wellmeadow

Wellmeadow
The SME Growth Podcast by Wellmeadow

Co-hosts, Dave Parry and Rich Buckle have worked with over 100+ businesses at board-level through their growth consulting firm Wellmeadow. The SME Growth Podcast is an extension of the types of conversations we have in the boardroom. With a focus on marketing and sales strategies, we aim to give small and medium enterprise (SME) leaders tips, tools, and techniques that they can pick up and apply in their own business context. We also bring on business leaders and experts who tell their stories of the highs and lows in the world of business with a focus on the UK.

  1. Episode 92: What is Your Customer Acquisition Strategy?

    19시간 전

    Episode 92: What is Your Customer Acquisition Strategy?

    In this episode of the SME Growth podcast, Rich and Dave from Wellmeadow dive deeper into customer acquisition strategies, building on their previous discussion of Go-to-Market approaches. They explore how technology is transforming traditional sales and marketing roles, while emphasising the continued importance of relationship-building and personal connections in business development. Key Topics Discussed: Sales and Marketing Collaboration The hosts address the imbalance in many SMEs where lead generation is seen solely as marketing's responsibility. They discuss how sales teams need to take a more active role in customer acquisition, while marketing teams should engage more directly with customers through advisory boards and focus groups. Technology-Enabled Prospecting A detailed exploration of new tools and technologies that are transforming customer acquisition, including: • Browser extensions for LinkedIn data capture • Buyer intent tracking tools • AI-powered prospecting agents for personalised outreach • CRM integration and automation capabilities Traditional Networking and Referrals Discussion of the continued importance of traditional business development methods, particularly in service industries where up to 95% of new business comes from referrals and recommendations. The hosts explain how to map and analyse referral networks to better understand business growth patterns. Process Automation and Scaling Examination of how automation and AI can help scale customer acquisition efforts while maintaining personalisation and authenticity in customer communications. Quotes to Remember: "Sales is everyone's responsibility - from marketing to customer service, everyone in the company has a role to play." "Marketing should get out more. They should be talking to customers, doing customer advisory boards, doing focus groups." "In a service industry setting, 95% of your work is going to come from either existing customers or referrals." "CRM is there to help sales people and help marketing people, not as a tool to beat them up with." Top Takeaways:Balance Technology and Human Touch While embracing new technologies for efficiency, maintain the personal connections and relationship-building that drive business growth, especially in service industries. Strategic Data Capture Implement systematic approaches to capturing and enriching contact data, ensuring all customer interactions are tracked and leveraged effectively in your CRM. Referral Network Mapping Document and analyze your referral networks to understand patterns and opportunities, treating this as a strategic asset for business development. Marketing Evolution Encourage marketing teams to engage directly with customers through advisory boards and focus groups, moving beyond just digital campaign management. Process Automation Leverage new AI and automation tools to scale customer acquisition efforts while maintaining personalisation and authenticity in communications. Sales Enablement Provide sales teams with the right tools and technology to efficiently research, connect with, and nurture prospective customers. Data Quality Maintain high-quality CRM data to enable effective automation and personalisation in customer outreach efforts. Continuous Learning Stay informed about new technologies and tools while remaining grounded in fundamental business development principles.

    31분
  2. Episode 91: What is a Go To Market (GTM) Strategy?

    10월 24일

    Episode 91: What is a Go To Market (GTM) Strategy?

    In this episode of the SME Growth podcast, Rich and Dave from Wellmeadow dive into the crucial topic of Go-to-Market (GTM) strategies. They explore how businesses can effectively define, implement, and execute their GTM approach, moving beyond traditional marketing-only perspectives to create a comprehensive strategy that involves both sales and marketing teams. Through practical insights and real-world examples, they break down the key components of a successful GTM strategy. Key Topics Discussed: ➡️Understanding Go-to-Market Strategy The hosts explore the fundamentals of GTM strategy, emphasizing that it's not just for new market entry but equally important for existing markets. They discuss how GTM strategy connects with Revenue Operations (RevOps) and why it's crucial for both marketing and sales teams to be actively involved in the process. ➡️Identifying Problems and Value Propositions Rich and Dave break down the importance of clearly defining the problem your business solves and creating a succinct value proposition. They emphasize the need to communicate this value in various formats - from a single sentence to a detailed paragraph - ensuring all stakeholders understand and can articulate it effectively. ➡️Target Market Definition and Research The discussion covers the progression from Total Addressable Market (TAM) to Ideal Customer Profile (ICP), highlighting the importance of practical, usable definitions. They explore how new AI tools and technologies are transforming market research and customer targeting capabilities. ➡️Modern Channel Strategy The hosts examine the balance between digital and traditional channels, noting that in service industries, up to 95% of business comes from existing customers and referrals. They discuss the post-pandemic shift back toward human connection and its implications for GTM strategies. Quotes to Remember: 💬"Sales people have got an absolutely pivotal role in that, not just advising marketing the voice of the customer stuff, but doing some stuff as well." 💬"If you haven't got a documented go-to-market strategy, write it now as if you wrote it five years ago." 💬"In a service industry setting, 95% of your work is going to come from either existing customers or referrals." 💬"Marketing focuses a lot on the stuff they pump out through social media and emails and websites, but not so much on the sales collateral." Top Takeaways: ✅Clear Value Proposition Organisations must be able to articulate their value proposition at multiple levels - from a single sentence to a detailed explanation - ensuring consistency across all customer touch points. ✅Process Documentation Establish clear processes for GTM execution, including onboarding materials, sales enablement resources, and measurement frameworks to ensure consistent implementation across the organization. ✅Measurement and Feedback Implement meaningful KPIs that go beyond vanity metrics, establishing feedback loops with customers and delivery teams to verify that solutions truly address customer needs. ✅Channel Strategy Balance While digital channels are important, don't overlook traditional relationship-building and referral networks, especially in service-based industries where personal connections remain crucial. ✅Sales Enablement Focus Marketing teams should prioritise creating effective sales collateral and enablement materials to support the sales team's efforts in customer acquisition and relationship building. ✅Continuous Evolution Regularly review and update your GTM strategy to ensure it remains relevant as market conditions, customer needs, and business objectives evolve. https://www.smegrowthpodcast.com/ #SMEGrowth #GTMstrategy #SalesAndMarketing #ValueProposition #MarketResearch #CustomerTargeting #ChannelStrategy #BusinessGrowth #CollaborationInBusiness #SalesEnablement

    33분
  3. Episode 90: When is it time for a CEO to step down?

    10월 17일

    Episode 90: When is it time for a CEO to step down?

    In this episode, we discuss leadership, the CEO journey, and when it might be time for a leader to move on. Our hosts reflect on leadership transitions, drawing from recent articles and their own experiences with SME boards. They explore how different stages of a CEO's tenure impact effectiveness and organizational health, offering practical insights for navigating these transitions. Key Topics Discussed: The CEO Honeymoon Period: Our hosts talk about the early days of a CEO's tenure, often referred to as the 'honeymoon period.' They explore why this phase is crucial for establishing credibility and making impactful changes while the organization is open to new ideas. This period allows leaders to set the tone, align the team, and create momentum for future initiatives. Recognizing the Right Time to Move On: Inspired by a recent HBR article, the discussion dives into the signs that it might be time for a CEO to step down. Key points include the importance of self-awareness, the impact of staying too long, and recognizing when someone else could do a better job. They also discuss the risks of complacency and how overstaying can hinder company growth. Leadership Styles and Succession Planning: The hosts share stories of different leadership styles, from charismatic leaders who inspire loyalty to technocratic leaders who excel in expertise. They discuss the challenges of succession in SMEs, especially when the outgoing leader struggles to fully let go. The importance of having a succession plan is emphasized to ensure continuity and stability during leadership changes. The Trust Equation: The episode touches on the concept of trust in leadership, breaking down the components of credibility, reliability, intimacy, and self-orientation, and how these influence a leader's effectiveness. Trust is framed as a critical component for leadership success, as it directly affects team engagement and willingness to follow the leader's vision. Quotes to Remember: “Sales isn’t about pushing your product. It’s about solving a problem for someone you care about.” “Trust is the currency of business. Without it, you’re just a vendor; with it, you’re a partner.” “A CEO’s shelf life is about seven years—after that, without new skills or insights, complacency can set in.” Top Takeaways: Understand the CEO Lifecycle: Leaders have a limited time to make their biggest impact. Recognizing when it's time to move on is key to the health of the organization. A timely transition can bring fresh perspectives and renewed energy. Self-Awareness is Crucial: CEOs must be honest about their effectiveness and whether they are still the right person for the role. Self-awareness helps in recognizing when to bring in new talent to take the organization forward. Leadership Transition is Inevitable: Plan for leadership transitions proactively to ensure the business remains adaptable. A well-executed transition minimizes disruptions and keeps the company on a growth path. Trust and Engagement: Building trust through credibility, reliability, and genuine connection with the team is essential for sustained leadership. Trust fosters a positive work culture and encourages open communication. Actionable Insights for SMEs: Evaluate Leadership Regularly: Schedule evaluations of the leadership team, including the CEO, to ensure they are still the best fit for driving the company forward. Use metrics like team morale, performance, and milestones to gauge effectiveness. Encourage Open Dialogue: Foster an environment where feedback is welcomed, and team members can express concerns without fear. Open dialogue builds trust and leads to valuable insights that improve leadership practices. Prepare for Succession: Start thinking about succession early to prevent disruption when it’s time for a change and ensure the company is ready to adapt to new challenges.

    32분
  4. Episode 89: Relationship Selling - with Dave Hamlet

    10월 10일

    Episode 89: Relationship Selling - with Dave Hamlet

    Welcome to episode 89 of the Growth Podcast, brought to you by Well Meadow. In this episode, we sit down with Dave Hamlet, a former military engineer turned sales leader and entrepreneur. Dave shares his journey from the military to becoming the commercial director at Monster Energy, and now running multiple businesses. Here are the key insights from our conversation. Transitioning from the Military: Dave talks about his transition from the military to civilian life, which turned out to be the "best thing he ever did." He emphasizes the importance of diving into opportunities and remaining open to learning. His time in the Royal Engineers helped him discover his passion for learning and improvement. The Power of Goals: Dave set three clear objectives after leaving the military: earn £100,000 a year, become a business director, and own a business. He explains, "It was all about having a target—failing to prepare is preparing to fail." His military experience instilled a structured approach to planning, which became key to his success. Sales Through Relationships: Dave’s journey into sales began by selling health and safety services, which taught him resilience and the importance of connecting with people. He believes that building relationships is at the core of successful sales, whether at Monster Energy or consulting on startups. Lessons from Monster Energy: As a commercial director, Dave expanded Monster Energy into new markets, focusing on relationship building and understanding people's needs. He emphasizes the value of identifying gatekeepers and building genuine connections. Understanding the Consumer: Dave stresses that effective marketing and sales always begin with understanding the customer. "You can't sell clean energy drinks to people who don't care about their health," he explains. Understanding consumer needs is crucial before trying to enter a market. Leadership and Vision: Dave shares his approach to leading sales teams—starting with a clear vision and consistently communicating it. He believes in leading from both the front and back, ensuring everyone understands their role in the bigger picture. Learning from Failures: Dave shares the highs and lows of his entrepreneurial journey, including a failed food delivery business. He reflects on this experience as a period of deep learning and reinvention, reminding us that resilience is key to success. Sales Strategies: Dave emphasizes preparation, consistency, and a consultative selling approach—helping customers realize they need you rather than pushing your product. "The key is to start with a plan, identify the end goal, and work backward." This structured approach, coupled with genuine interest in helping customers, is what helped Dave build successful sales teams. Quotes "When I left the military, I set three goals: make £100,000 a year, become a director, and own a business. Failing to prepare is preparing to fail. "Building relationships isn't something you can fake—you need to genuinely enjoy being around people. "You can't delegate creating the vision; it's the leader's job to lead from the front." "Understand who your customer is. Know your audience, and build your strategy around them." Takeaways Set Clear Goals: Clear goal setting is paramount. Know what you want, break it down into actionable steps, and stay focused. Understand Your Audience: Defining and understanding your customer base is the foundation of effective sales and marketing. Build Genuine Relationships: Sales success comes from building trust and relationships, not just pushing a product. Lead with Vision: Create and communicate a clear and inspiring vision for your team. Embrace Resilience: The ability to bounce back, reflect, and pivot is crucial for long-term success. #SalesLeadership #EntrepreneurialJourney #GrowthPodcast #BusinessGoals #SalesStrategy #RelationshipBuilding #LeadershipVision #Resil

    35분

소개

Co-hosts, Dave Parry and Rich Buckle have worked with over 100+ businesses at board-level through their growth consulting firm Wellmeadow. The SME Growth Podcast is an extension of the types of conversations we have in the boardroom. With a focus on marketing and sales strategies, we aim to give small and medium enterprise (SME) leaders tips, tools, and techniques that they can pick up and apply in their own business context. We also bring on business leaders and experts who tell their stories of the highs and lows in the world of business with a focus on the UK.

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