Why Tradeshows Rarely Work

Selling a complex solution to a Fortune 1000 Enterprise is extremely difficult. Whether you approach the enterprise sales dilemma from a marketing point of view or from a sales point of view, the process can be both long and frustrating. Over the past 10 years of being immersed in the enterprise B2B sales ecosystem, CDM Media has learned three key points:

  1. The sales cycle, from the first touch (by phone or email) to the contract signature, can be frustratingly long. Our research shows that the average length of a complex solution sale cycle ranges from 12-24 months.
  2. The idea that there is a single decision maker is truly a myth – they don’t exist.  Instead, on average, 5+ people need to approve a purchase of a new complex solution.
  3. Up to 50% of this lengthy sales cycle is spent working to get a face-to-face meeting with one of those 5+ decision makers.

This process has led to the short life cycles of those held most responsible for building a robust pipeline of highly qualified opportunities for the sales team.  Studies show that CMOs and VPs of Marketing have a corporate shelf life that is nearly half as long (or should I say short) as the rest of the C-Suite.  In spite of myriad Marketing Automation tools, massive amounts of creative content, Cold Calling tools and techniques, Account Based Marketing and the rise of Social Media Marketing, the sales cycle is what it is:  Long.  And the Sales Cycle can be as long as the average tenure of a CMO: 18 months.

We have seen some try to solve this through meeting one of these 5+ Decision Makers at large B2B Tradeshows or Exhibitions.  But these seem to rarely work.  What are the odds that a C Level Decision Maker is attending a Tradewsho and even if they do, what are the odds they will drop by your booth and engage in a 30 minute detailed discussion.

While the numbers tell a story that can seem troubling there is a number that brings hope:

The Media is Talking About: Internet of Things in Financial Services

CDM Media’s Senior Director of Content & C-Suite Communities, James Quin is regularly cited in various media stories across a variety of industries. But leading up to these article inclusions are many conversations and insightful commentaries which don’t always make the publication. In this weekly (or more!) new section, James shares his responses to a myriad of tech topics he discusses with journalists. 

The Media is Talking About- -Internet of Things in Financial Services-

The Internet of Things has been impacting a variety of industries. At the end of the day, it’s all data and the key is, where is that data going and how is it being used?

The Internet of Things is certainly something that gets a lot of hype these days, but we’re still pretty early on the hype cycle to be honest – Banks and other financial services businesses are kicking the tires. In a lot of cases, the point of IoT type technologies is to stream data directly to intelligent systems that can aggregate, collate, and act upon the information independent of human interaction, or at the very least with minimal human interaction. Banks are, so far, finding the best use and impact of IoT to be on call centers and call center agents to be a net positive. While more data will be coming to the company, the systems that it comes to will handle at least first level processing of the data, lessening the workload on the people in the equation.

To learn more or attend one of our CIO Summits, visit http://www.ciosummits.com/

 

 

The Media is Talking About: Dynamic ID

CDM Media’s Senior Director of Content & C-Suite Communities, James Quin is regularly cited in various media stories across a variety of industries. But leading up to these article inclusions are many conversations and insightful commentaries which don’t always make the publication. In this weekly (or more!) new section, James shares his responses to a myriad of tech topics he discusses with journalists. 

Passwords

The recent IRS breach has caused some reflection on what really goes into security, and what tools and steps should be used. In particular, James Quin weighed in on some questions surrounding the effectiveness of dynamic ID:

How Effective is Dynamic ID?: How do dynamic ID, or out-of-wallet, processes work? Are they expensive to implement? Would its use have prevented some recent government breaches?

JQ: Dynamic ID or out-of-wallet authentication process work by requiring additional authentication criteria beyond things like user names and passwords. When it comes to authentication there are three accepted factors: something you know (i.e. a password), something you have (i.e. a bankcard) and something you are (i.e. a fingerprint). Enhanced authentication processes seek to use multiple authentication factors for each authentication instance. This can be multiple first factor authenticators (such as a password and a secret question, both of which are something you know) or a combination of different authentication factors (such as a bank card and a PIN at an ATM). Depending on the type of authentication factors used, additional cost can be minimal (asking someone two passwords requires very little additional infrastructure) but can scale to very expensive (equipping every user with and iris scanner and fingerprint reader for example).

In theory, enhanced authentication reduces the likelihood that access credentials can be suborned and therefore also reduces the likelihood of breaches so, yes, enhanced authentication could have prevented some recent breaches, though that’s not the same thing as saying they would have.

To learn more or attend one of our CIO Summits, visit http://www.ciosummits.com/

 

The Media is Talking About: Dead/ Dying Technologies

CDM Media’s Senior Director of Content & C-Suite Communities, James Quin is regularly cited in various media stories across a variety of industries. But leading up to these article inclusions are many conversations and insightful commentaries which don’t always make the publication. In this weekly (or more!) new section, James shares his responses to a myriad of tech topics he discusses with journalists. technologic

When we think about “dead technology,” things like the typewriter and VHS players come to mind. But what should we be getting ready to put out to the curb in the near future?  James Quin weighs-in:

Interesting topic. In regards to the first part of the question, what has replaced what, I think we can boil it down to “more flexible devices and replaced less flexible devices”. Film cameras were replaced by digital cameras not because they were worse cameras (early digital cameras were punishingly expensive with tiny resolutions) but because digital cameras offered greater flexibility – you could shoot more and see what you’d shot instantly.

Landline phones have been replaced by cell phones for the same reasons – even though the devices and the service plans are significantly more expensive, mobile phones allow us to always be available where landlines limited that availability to the proximity of the phone. This isn’t a new phenomenon – cars replaced horse and carriage because they offered greater flexibility, email replaced faxes which replaced telexes which replaced telegrams which replaced letters as the primary means of written communication because each offered more flexibility and capability than the former.

In regards to what’s up next for replacement, I think the technology area under the most threat is traditional personal computing infrastructure in all its various forms and factors. For a long time mobile devices have been making huge inroads into the marketplace for more traditional personal computers (desktops and laptops) with the only thing holding them back being the ability to create and manipulate large amounts of data and/or complex documents. However as mobile devices become more powerful and new input and output mechanisms come to the fore (think things like the Oculus Rift and over VR technologies) the need to work via traditional computers will be minimized.

I can easily foresee a time when mobile devices become powerful enough to be portable computing hubs, that we’ll access their storage and processing capacity via a variety of wirelessly connected input and output devices that will obviate the constraints of the mobile device form factor.

To learn more or attend one of our CIO Summits, visit http://www.ciosummits.com/

Things Outsourcers Can Do Now to Convince Clients of Data Security

CDM Media’s Senior Director of Content & C-Suite Communities, James Quin is regularly cited in various media stories across a variety of industries. But leading up to these article inclusions are many conversations and insightful commentaries which don’t always make the publication. In this weekly (or more!) new section, James shares his responses to a myriad of tech topics he discusses with journalists. 

Background digital image of world map with connection lines

 

It’s no secret that data security is a top concern when it comes to outsourcing. In a recent discussion with a reporter from Nearshore Americas, James Quin shared some key insights when it comes to instilling client confidence:

The things that an outsource provider can do to help address the concerns of their customers and potential customers fall, realistically into two camps. The first is anticipate the kind of concerns and questions that a client might have and implement systems and controls to address them, and the second is to obtain some form of independent third party verification of the implementation and efficacy of those controls so that clients aren’t just taking your word on it.

For the first area, the concerns and controls themselves much of it is going to revolve around data protection and data management so be prepared to ask questions about encryption, access controls, backups, disaster recovery, network and systems reliability and redundancy, and even employee screening protocols. Really, anything that can have an impact on the confidentiality, integrity, and availability of the data must be assessed and controls to manage it put in place.

For the second, there are a number of options that are available. For a long time the standard has been SAS 70 Type II certification but SAS 70 is being phased out in favor of SSAE 16. These are audited verification of across the board controls, not just IT and security but are applicable. For technology-specific concerns something like ISO27001 goes a long way as well. Be also prepared to share historical data, not just the latest report so that clients can see a trend of trustworthiness, not just a point in time measurement.

To learn more or attend one of our CISO Summits, visit http://www.cisosummits.com/

 

The Media Wants to Know: The Impact of HITECH Act and HIPAA on Healthcare IT Outsourcing

CDM Media’s Senior Director of Content & C-Suite Communities, James Quin is regularly cited in various media stories across a variety of industries. But leading up to these article inclusions are many conversations and insightful commentaries which don’t always make the publication. In this weekly (or more!) new section, James shares his responses to a myriad of tech topics he discusses with journalists. 

A proposed regulation under the HITECH Act will provide healthcare consumers the right to learn of personal data disclosures. Senior IT leaders and business executives in healthcare organizations that use lobbyists now need to focus on regulators’ renewed attention to this long-dormant HIPAA issue. James Quin weighs-in on the storyhands

“The issues with breach notification are numerous, as we’ve seen in other industries. First is the assessment of what was breached and who was affected – regulators tend to err on the side of ‘if you can’t define exactly who/what was affected, you must assume everyone/everything.’ This makes breach notification significantly more complex and more expensive. As a result, the first hurdle to overcome is being in a position to actually understand what is happening with your data at all times. This brings us to the outsourcing-specific angle, that being responsibility in the event of data loss – who holds it between the client and the provider and what measures and controls can be put in place contractually to manage any potential breach.”