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Revenue growth is a company
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Do You Have an
Integrated
Business
Growth Strategy
or Are Just You Just Scaring
Prospects Away?
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Rick
Erling| Ability to track leads |
23%
|
| Quality of leads |
19%
|
| Better ROI for marketing campaigns |
18%
|
|
Source: FrontRange
Solutions, February 2007;
New Blaze, February 2007 Provided to Paul DiModica by eMarketer.com under contract. |
|
Four Business Growth Truths Many People Ignore
-
Business Growth Strategy
is based on research of what
prospects will buy, not what you
want to sell.
Just because you bought a company, created a new offering, or spent $10 million on development to create the greatest widget in the world, it does not mean you have a market for what you sell.
Buyers only care about themselves.
- The marketing
department ’s primary goal is to
help generate qualified leads
for sales . . . that’s it.
Yes branding, third-party analysis research and beautiful tradeshow booths are important, but they are just tools to ultimately increase revenue.
Marketing must have ROI or it is a wasted investment.
- The sales department
must sell new business.
Yes, selling existing customers is important, but to grow top line revenue where you will not be dependant on your existing customer’s ability to buy . . . you need to hunt for new business as a premeditated approach. By focusing on the lifetime value of deals, you can reduce sales capture costs.
Hunt Now or Be Eaten Later!
- If your departments
are not aligned together by
goals, key performance
indicators (KPI’s), compensation
plans and parallel knowledge of
the operational tasks of the
other departments, then you have
a decentralized business growth
process.
Revenue capture is a company responsibility . . . not just the sales departments.
Lead Generation Method Used
by Companies Worldwide, 2006
(% of respondents)
| Self-generated by sales reps |
42.0%
|
| Marketing campaigns |
17.1%
|
| Customer referrals |
15.2%
|
| Telemarketing efforts |
11.0%
|
| Generated by partners |
10.3%
|
| Other |
4.6%
|
|
Note: Numbers may not add up
to 100% due to rounding Source: CSO Insights With CRMGuru.com, Selling Power and Sales and Marketing Executive International (SMEI), February 2006 Provided to Paul DiModica by eMarketer.com under contract. |
|
Take The Business Growth Strategy Scorecard Alignment Test
Here is a quick assessment of a much larger assessment test we give to help you decide if your team is focused on business growth as an integrated group or if they are operating as independent silos.
- Does your company create (or
acquire) new products or
services based on market demand?
__Yes __No
- Does your sales team have
separate sales quotas for
business from existing customers
and business from new prospects?
__Yes __No
- Is your marketing department
paid based on the number and the
quality of their leads they
generate?
__Yes __No
- Are your sales quotas or
targets calculated based on
mathematical demand models?
__Yes __No
- Do your senior marketing
executive and your senior sales
executive have a team metric
then need to reach together?
__Yes __No
- Are your marketing managers
paid based on corporate
department sales increases?
__Yes __No
- As a business to business
company (B2B), does the
marketing department report to
the VP of Sales?
__Yes __No
- Do the sales, marketing and
strategy departments meet at
least four times a year to
discuss successes and failures
to date and document action
steps required by each?
__Yes __No
- Does your senior management
team assign specific measurable
metrics to the strategy, sales
and the marketing department
managers and is their
performance discussed at
executive meetings?
__Yes __No
- Are your sales team members
evaluated on how quickly they
follow-up on sales leads given
to them by the marketing
department?
__Yes __No
- Does your marketing
department go on sales calls at
least twice a year to understand
the sales process?
__Yes __No
- Has your marketing team
researched why prospects buy,
why they don’t buy, and how your
firm creates value?
__Yes __No
- Do you have a written
corporate strategy for all
department heads to review as
needed as a corporate guideline?
__Yes __No
- Does the sales team have a
written step-by-step sales
process to guide the marketing
department on what communication
deceives they need create for
each sales cycle step?
__Yes __No
Business Growth Strategy Scorecard Answers
|
1. Yes 2. Yes 3. Yes |
4. Yes 5. Yes 6. Yes |
7. Yes 8. Yes 9. Yes |
10. Yes 11. Yes 12. Yes |
13. Yes 14. Yes |
Biggest Sales Challenges
according to US Marketers, 2005
(% of respondents)
| Sales follow-up with prospects and customers is difficult to track |
24.3%
|
| Lead generation is getting more expensive and payback is getting worse |
22.3%
|
| Rigid buying processes at most companies are delaying decisions further |
18.4%
|
| Getting existing customers to buy more products and services |
16.5%
|
| Not enough quality leads for the sales force to call on |
12.6%
|
| Techniques for getting sales appointments are getting less effective |
5.8%
|
|
Note: Numbers may not add up
to 100% due to rounding Source: Three Deep Marketing with support from MarketingSherpa, January 2006 Provided to Paul DiModica by eMarketer.com under contract. |
|
Biggest Marketing Business
Challenges
according to US Marketers, 2005
(% of respondents)
| Knowing that there is a payback for marketing dollars spent |
34.0%
|
| Generating predictable lead flow for sales |
22.3%
|
| Differentiating our company from competitors |
21.4%
|
| Getting marketing communications out consistently |
14.6%
|
| Qualifying lead status before hand-off |
7.8%
|
|
Note: Numbers do not add up
to 100% due to rounding Source: Three Deep Marketing with support from MarketingSherpa, January 2006 Provided to Paul DiModica by eMarketer.com under contract. |
|
Contact The CxO Group, LLC Now
call (972) 727-6880
.
.
addison business growth strategy, business growth strategies, revenue capture strategies, revenue capture strategy