For our Q3 Marketing Leader Round Table, we took advantage of having our members in person in Amsterdam. This quarter we had marketing and sales leaders as well as CRO and CEO representation from around the world at the table. We were thankful to have perspectives from CPaaS, CCaaS and UCaaS providers during this session.
So, what are growth leaders in our industry focused on right now? Read on to find out!
Increased Marketing Spend
Seven out of the eight represented companies are increasing their marketing budgets, signifying the importance of investing in lead generation and brand promotion in today’s environment. While we continue to hear about companies cutting back on their marketing spend, it’s clear that CPaaSAA members are investing in growth.
What’s Working in Marketing
1. Advertising ROI: A majority confirmed the direct influence of advertising budgets on lead generation.
2. Precise Targeting: One member showed the effectiveness of having a well-defined ICP, target buyer, and value proposition, resulting in enough leads to satisfy their sales team and their sales partners.
3. Content is King: Podcasts, social media, white papers, and eBooks have been crucial in content marketing efforts. From a CRO at a CPaaSAA member: “I’ve got my entire team, including my sales team and my SDRs writing something every week. Something original, leveraging Chat GPT to a certain extent for a boost or kickstart.”
4. Google Adwords Still Dominates: A significant number of members are heavily reliant on Google Adwords, with some allocating up to 90% of their budget to it.
5. Balanced Marketing: There’s a consensus on the effectiveness of a 30%-70% split between brand marketing and lead generation.
6. User Group Meetings: Such meetings, like those hosted by CPaaSAA members 2600hz and Crexendo this October, provide cost-effective opportunities to meet with customers, discuss their needs and collaborate.
7. Channel Partner Roadshows: Engaging in partner roadshows allows companies to reach potential clients without bearing the full cost. One CPaaSAA member recently participated in a CSP partner roadshow that put them in front of 700+ sales partners and 1,000s of valuable customers.
What’s Not Clicking in Marketing
Booths at Live Events: Many felt that the ROI for booths at live events isn’t justifying the expenditure. CPaaSAA members that are still participating at events are looking at ways to limit cost and maximize customer meetings by hosting dinners and off-site get-togethers right outside of these events.
Concerns Keeping Marketing Leaders Awake
1. The Lead Quandary: A significant challenge is balancing the demand for leads while also focusing on other marketing aspects like brand awareness.
2. The Impression Spillover: Many members are focused on increasing impressions, as this indirectly benefits lead generation.
3. Ensuring Accurate Messaging: Keeping up with fast-paced product developments and ensuring the sales team uses the right messaging remains a challenge.
4. Competitor Content: There’s a looming fear of competitors releasing superior content or capitalizing on a trend first.
2024 Marketing Wish List
1. Improved Storytelling: Leaders are keen to better articulate how their company addresses customer problems.
2. Professional Development: There’s a need for better training and career development resources for marketing teams.
Questions & Recommendations
Tools for the Future: Members expressed interest in tools like 6sense, Capterra, and Triblio for lead capture and account-based marketing.
Upcoming Round Table: A special event at the end of October will delve into channel enablement and partner marketing.
We are proud to have an incredible group of companies and business leaders as CPaaSAA members. They are actively working to grow their businesses and grow the industry. As the global Alliance for the CPaaS industry, we are focused on helping them do just that. Quarterly industry and executive round tables such as this one are just one of the ways we’re helping our members grow their business.
Visit our membership page for more information on CPaaSAA and to apply for membership.
Robert has spent over 25 years using technology to solve operations challenges, improve employee experience, and create winning customer experiences. As CMO and head of product at IntelePeer, he pioneered the expansion of CPaaS beyond developers and into the enterprise with no-code/low-code automation, integrated AI, and off-the-shelf campaign and analytics tools. Robert loves creating new things and is always asking big "what if" and "what's next" questions. Today he is working with technology and communications providers to expand their offerings, effectively reach new buyers, and create value for customers and shareholders alike.