In this episode, host Steve McDonald features TJ Waldorf, CMO of 1WorldSync, on closing the consumption gap in organizations. They discuss how this gap between company capabilities and client knowledge hinders growth and revenue. TJ shares insights on managing this, especially after acquisitions, stressing internal education and communication. He also highlights the importance of thought leadership content in driving growth and brand reputation.

“If there’s a gap between our capabilities and what our customers understand we can do, then we’re simply not selling them more of what we can offer them. We must be doing everything that we can, both from a marketing perspective as well as sales, and anybody else talking to a customer” – TJ Waldorf

Key Takeaways:

• Closing the consumption gap between a company’s capabilities and its clients’ knowledge is crucial for revenue generation and growth.
• Internal education and communication are essential to ensure employees understand and effectively communicate the company’s offerings to clients.
• Thought leadership content is vital in building brand reputation and sparking conversations with potential clients.
• Repetition and ongoing communication are crucial to closing the consumption gap and ensuring clients and employees know the company’s capabilities.
• Reframing the conversation internally is as essential as reframing it externally. Defining the impact and problem accurately and having a unique point of view can lead to better communication and sales outcomes.

Listen to the full podcast or watch it on YouTube directly below.

Article: “CMOs: Closing the Internal and External Perception Gap”

From a podcast interview with TJ Waldorf, the CMO of 1WorldSync, with over 20 years of experience in marketing, sales, customer success, and sales operations

The Consumption Gap: A Barrier to Growth

In today’s fast-paced business landscape, companies are constantly evolving and expanding their capabilities to meet the ever-changing needs of their clients. However, a significant challenge arises when there is a gap between what a company is capable of and what its clients perceive it to be capable of. This gap, often called the consumption or perception gap, can hinder growth and revenue generation. TJ Waldorf, CMO of 1WorldSync, sheds light on this issue and offers insights into how companies can bridge this divide.

Waldorf emphasizes the importance of closing the consumption gap, especially in a rapidly growing company like 1WorldSync, which has undergone nine acquisitions in the past three years. The company’s expansion has led to a significant shift in its capabilities, making it crucial for clients and employees to understand what 1WorldSync can offer.

The Internal Focus: Educating Employees

While educating clients about a company’s capabilities is essential, Waldorf highlights the equally important role of internal education. He cautions against assuming that employees will automatically absorb and understand the information shared externally. Instead, he advocates for internal campaigns and programs to ensure that employees are well-informed and can effectively communicate the company’s offerings.

One effective strategy 1WorldSync implements is a bi-weekly marketing digest that compiles all relevant content, such as case studies, webinars, and press coverage, into an easily accessible format. This digest is sent to all employees to ensure they are updated with the latest developments and can leverage this information in their conversations with clients. Additionally, regular all-hands calls and newsletters provide further opportunities to reinforce the company’s capabilities and keep employees informed.

Thought Leadership: Educating Clients and Shaping Conversations

Thought leadership content is pivotal in closing the consumption gap and driving growth. Waldorf emphasizes the importance of reframing conversations and defining the impact and problem that the company solves. By providing valuable insights and expertise, companies can position themselves as trusted advisors and experts in their industry.

Waldorf shares an example from 1WorldSync’s industry, where the focus is on product content orchestration. While some clients may dismiss the importance of e-commerce sales, citing their relatively small percentage of overall revenue, 1WorldSync reframes the conversation by highlighting digitally influenced sales. By demonstrating that digitally influenced sales have a three times greater impact than attributed e-commerce sales, the company effectively reframes the problem and underscores the significance of its capabilities.

Conclusion

Closing the consumption gap is a multifaceted endeavor requiring internal and external education. While external marketing efforts are crucial for reaching clients, internal education is equally vital in ensuring that employees understand and can effectively communicate a company’s capabilities. Thought leadership content is critical to educating internal and external stakeholders, reframing conversations, and driving growth.

In a rapidly evolving business landscape, companies must continuously bridge the gap between their capabilities and their clients’ perception of those capabilities. By investing in internal education, thought leadership content, and ongoing communication, companies can position themselves as trusted advisors and drive growth by effectively closing the consumption gap.