Redefining Marketing Communication
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Shownotes
In this episode of the Sunny Side Up podcast, host Tyler Gambardella interviews Jorge Quant, Vice President of Strategy and Marketing for the Americas of Carestream Health, a worldwide provider of medical and industrial imaging systems. They discuss how Carestream adapted to the pandemic by creating virtual spaces to showcase their solutions, and the future of B2B marketing in the current economic climate, stressing the importance of solving customers’ problems in a better and more efficient way than competitors to create significant and relevant value and differentiate themselves to maximize profitability. Jorge also discussed the importance of understanding the customer’s needs and how it is key for companies to be able to create value and differentiate themselves. He also talked about how companies need to be continuously listening to their customers to stay relevant and adapt to the changing market conditions. Ultimately, Jorge emphasizes the importance of a customer-centric approach in B2B marketing, even in a downturn, to be able to create value and maximize profitability.
About the Guest
Jorge Quant is a senior sales and marketing global executive, speaker, and graduate school professor of strategy, marketing, sales, and innovation. He is currently Vice-president of Strategy and Marketing for the Americas for Carestream Health where, over the past 10 years, he has held several positions such as Global Marketing Director, Global Service Business Development Director, Latin America Marketing Director, and Director of Service and Inside Sales for Latin
America.
Over the past 20 years, Jorge has advised hundreds of companies and individuals to find their path to launch and growth, he continues to teach, consult and advise companies and individuals alongside virtually and in person.
Key Takeaways
- Carestream Health adapted to the challenges of the pandemic by creating virtual spaces called Virtual Hospital and Virtual NDT (non-destructive testing).
- These virtual spaces allow them to showcase their solutions in an immersive environment that mimics real-life settings where their customers would use the technology.
- This approach allowed them to continue to connect with their customers and convey their value proposition despite the constraints of the pandemic.
- Relying solely on technological capabilities and assuming that customers will come is a risky approach.
- They used the virtual trade show platform to connect with their customers and continue to build relationships, nurture relationships, close deals, and keep the conversation going
- A customer-centric approach is the best way to create significant and relevant value and differentiate themselves to maximize profitability.
- B2B marketing will continue to shift towards a more customer-centric approach.
- Companies must focus on understanding and solving their customers’ problems in a better and more efficient way.
Quotes
“It’s not about building and pushing. You need to do your homework. You need to understand how this technology that you are building is solving real problems of your customers”.
– Jorge Quant
Highlights from the Episode
Could you tell our listeners a little bit about Carestream?
Carestream is a worldwide provider of medical imaging systems and industrial imaging systems, primarily for X-rays. They also offer precision contract coding services for a wide range of industrial, medical, electronic, and other applications. Carestream was established about 15 years ago following the sale of the Medical Imaging division from Kodak. Despite being relatively young, Carestream has had a long legacy of innovation and imaging for over 140 years through its parent company. The company operates in about 130 different countries, both directly and indirectly. Their main focus is to bring technology and experience to opportunity detect defects that will allow for the right actions, both preventative and corrective, for either structural or people. In summary, Carestream is in the business of helping save lives around the world through opportunity detection of defects, which allows professionals like engineers or medical professionals to determine the right path to improve people’s lives. They are proud to contribute to making the world a better and safer place.
Who are the end users of Carestream Technology and can you explain who is using the technology on a day-to-day basis?
The end users of Carestream Technology are typically radiology technologists, whether in the human or industrial space, who interact with the company’s medical devices such as X-ray machines and X-ray detectors. These technologists use the technology to capture images of both people and things to detect defects. In the case of the medical division, this includes imaging of soft tissue and bones, organs, and other areas of the human body. In the industrial division, the technology is used to take pictures of things such as airplanes, landing gear, and pipelines to detect defects and ensure safety. The technology is also used in other areas such as cars, planes, and bridges to ensure safety. The end users of the technology are the technologists who take pictures, but the technology benefits everyone in the world.
How did the pandemic accelerate the relevance of the digital world for Carestream?
The pandemic accelerated the relevance of the digital world for Carestream. The pandemic forced people to leverage available technology to improve the quality and productivity of their interactions on a day-to-day basis. Before the pandemic, people were comfortable taking long flights for short meetings, but the pandemic disrupted that and made digital platforms such as Zoom and FaceTime more widely used. The technology was already available, but the pandemic accelerated its usage and adoption. The pandemic also transformed the way Carestream does business and broke paradigms in terms of how to get the attention of potential buyers. In the post-pandemic world, Carestream continues to leverage these tools and is more comfortable doing so.
Though the trigger event was circumstantial, how did your team work to ensure the changes being implemented were transformational?
The team recognized that the traditional push strategy, where value proposition, features, brand, and solutions were pushed onto customers, often resulted in barriers being raised since the focus was on selling the company’s products rather than solving customer problems. In response to this, the team shifted to a pull availability strategy, where they worked to understand what customers cared about, created content and solutions that addressed those problems, and then made themselves available for customers to find them. This change in strategy necessitated a shift in the structure of the organization and the way they focused on strategies. The empowerment of buyers through technology and the impact of the pandemic also played a role in this shift towards a pull availability strategy which allows customers to take ownership of their customer journey.
Can you discuss some of the specific strategies that your company, Carestream, has implemented to be more available with the right information, resources, and content to customers, and how traditional roles such as sales, sales enablement, and channel partners have adapted to this approach? Also, can you speak about how live streaming demonstrations from your studio have been integrated into this strategy and the role of other players such as sales AEs and channel partners in this approach?
Carestream has implemented various strategies to improve its customer availability and access to information, resources, and content. One key strategy is the creation of virtual spaces, such as a virtual hospital and virtual non-destructive testing space. These spaces are designed to simulate the environments where their customers would typically see and use their solutions. This approach was adopted during the pandemic, when traditional methods of capturing leads, building relationships, and closing deals at trade shows were no longer possible due to the cancellation of these events and the risks associated with in-person gatherings. Instead, the company turned to virtual trade shows and events, such as webinars, to reach and connect with its audience.
To further enhance their customer engagement, Carestream has also integrated live streaming demonstrations from their studio. These demonstrations allow customers to see the solutions in action, and provide an interactive and immersive experience. This approach has also led to an adaptation of traditional roles such as sales, sales enablement, and channel partners, who have had to adapt to this new way of reaching and engaging with customers.
How do sales reps leverage and work alongside virtual trade shows and virtual worlds to convert clients and prospects for their benefit and the benefit of Carestream?
Sales reps at Carestream leverage and work alongside virtual trade shows and virtual worlds to convert clients and prospects for their benefit and the benefit of Carestream. Sales reps have two main functions: the upstream part of it. This includes a clear understanding of the customer and what the customer is trying to achieve. Sales reps need to understand what are the pain points that customers face on a day-to-day basis to accomplish what they want to do, and what is their desire. Sales reps then use this information to provide relevant solutions to eliminate the pain points and help customers achieve everything that they want to achieve beyond just doing the job. The only way to understand what keeps customers up at night and what they dream of is to have a very solid upstream Voice of the Customer (VoC) practice. Sales reps use this practice to provide upstream information on what the different customer segments and different customer personas find relevant. Carestream’s marketing department and R&D department then use this information to build the toolbox and the solutions, which are then delivered by sales reps and channel partners through marketing collateral, training, and enablement toolbox. This approach creates a circle of understanding customers, providing solutions that solve real problems, and delivering the message through the right channels.
Has marketing fundamentally changed due to the way we interact with each other?
It is argued that marketing has fundamentally changed due to the way we interact with each other. Companies in the B2B space, including those making the argument, have been operating in isolated spaces or in spaces where technological advantages are sustainable for a longer period. However, technology today is fast-paced and advancements are quickly copied or improved upon. Therefore, an approach of relying solely on technological capabilities is seen as risky. Jorge references the “Field of Dreams” approach, where the idea is “if you build it, they will come,” but in reality, customers won’t come without understanding how the technology solves their problems and being better, more efficient, more economic, and more profitable than competitors. Additionally, whatever is put out there that is good will eventually become a standard in the industry and companies must be thinking about the next thing, which is best done by listening to customers all the time.
How are you and your organization adapting to the current economic downturn?
Carestream is facing significant economic headwinds that put financial pressure on both the organization and its customers. This creates a chain reaction where end users and customers are pressured, which in turn pressures vendors and the raw material supply chains. Despite this, there is still an opportunity to create significant and relevant value, differentiate oneself, and maximize profitability. This depends on Carestream’s ability to solve real problems in a better way than its competitors. In a situation where everyone is facing the same challenges and no one can clearly articulate value to customers, price is the only tool available. As a result, Carestream is facing significant pressures from a price and cost standpoint. To thrive in these adverse conditions, Carestream must innovate in its go-to-market strategy, delivery of its value proposition, and problem-solving approach. Additionally, times of trouble can serve as an incentive to seek different solutions. When everything is working well, there is no incentive to change things.
Can you give an example of proof-based marketing for marketers in various roles, such as website content, DemandGen, and leaders with budgets, and discuss any innovative ideas in this area that you admire or are planning to implement?
Proof-based marketing is a concept where a company demonstrates that its claims are true by becoming a conduit for customer testimonials and experiences. This approach shifts the focus from a traditional “promise-based” marketing strategy, where a company pushes its products or services by making claims about their benefits, to one where customers are shown the experiences and results of other customers who have used the product or service. This is particularly effective in the B2C and B2B space, as customers are more likely to trust and believe their peers rather than the company itself. To implement this approach, companies should focus on capturing customer testimonials and using them in their marketing efforts, as well as making sure to have the right platforms in place to collect and share this feedback. Additionally, a customer-centric approach is crucial for success, as it allows the company to start and end with the customer in mind.
Is there a book, blog, newsletter, website, or video that you would recommend to our listeners?
A book:
Sunny Side Up
B2B podcast for, Smarter GTM™
