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Driving Revenue: Ten Actions Senior Management Must Take Immediately
| Guest post by: Dan McDade |
Article Overview: Companies don't fail because individuals in the company want to fail. Companies fail because employees don't know what the rules are. Companies that are guided by strong boundaries thrive by developing prospects and driving revenue. Companies loosely run, fail.
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Free Download - Marketing Tip: If You Only Do One Thing, Qualify Your Leads By Dan McDade |
Driving Revenue: Ten Actions Senior Management Must Take Immediately
Companies don't fail because individuals in the company want to fail. Companies fail because employees don't know what the rules are. Companies that are guided by strong boundaries thrive by developing prospects and driving revenue. Companies loosely run, fail. Here are the ten things you need to do to ensure your company is successful:
- Provide strong direction in sales lead management regarding market definition, offer dynamics and media mix, then reinforce that direction with strong sponsorship of appropriate activities and campaigns. As basic as it sounds, we work with companies every day that do not actually follow-through on this.
- Get strategically involved in the marketing and sales planning process. You will be surprised at how much impact you can have.
- Make sure that each and every prospect or customer "touch" meets strict standards that support the direction you have provided.
- Stick to your guns. Once you've made a plan, don't change it based on a subtle market change or limited market research.
- Hold marketing accountable for quality and value; make the sales force accountable for quality feedback and results.
- Insist on regular, weekly reports. In most B2B companies the senior management team could and should review the status of every opportunity (their environment, what they're doing, their pain, who they're talking to). It would take just a couple of hours each week.
- The sales force is driven by the "three C's": control, credit and compensation. Ironically, great prospect development programs are initially viewed as a threat by sales because of the "three C's". That is why you hear the following feedback on leads:
- Insist on training. Start with the basics. Insist on self-education and participation in local and national events. This is a high payoff activity.
- Set realistic expectations regarding timeframes and deliverables. Everything takes longer than you think. Quick solutions may make you happy for the moment, but you will eventually pay a price. Don't shoot the messenger who is trying to do the right thing and not the expedient thing.
- Check your ego at the door. If something clearly isn't working, cut your losses, make the changes and move on.
"No telemarketer can talk to the decision-makers I have to reach."These are not destructive, conscious objections. They are a natural reaction to the historical state of affairs and, as such, need to be addressed transparently and aggressively. Eventually, great sales people become great consumers of quality prospect development.
"I was already in that account and already talked to that decision-maker."
"The leads are really not worth what you are paying for them, just get me some names and I will engage the prospects."
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Referred by: http://www.findnewcustomers.com
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About the Author: Dan McDade RSS for Dan's articles - Visit Dan's website Dan McDade founded PointClear in 1997 with the mission to be the first and best company providing prospect development services to business-to-business companies with complex sales processes. He has been instrumental in developing the innovative strategies that drive revenue for PointClear clients nationwide. In addition to serving as president and CEO of PointClear, Dan is the author of The Truth About Leads, an insightful book that sheds light on the little-known secrets that help focus B2B lead-generation efforts, align sales and marketing organizations and drive revenue. Prior to starting PointClear, Dan served as president of UST, The Business Marketing Group, a high-tech B2B marketing services firm. The company, serving leading technology companies including Sun Microsystems, Texas Instruments, Oracle and SAP, grew over 500% during his tenure. From 1989 to 1991, Dan was an independent consultant providing direct marketing, telemarketing and new business development consulting services. Clients included Sears, Exxon, Rodale Press, R.J. Reynolds, and The Ritz-Carlton. Dan also served as vice president of marketing with Jackson & Perkins in Medford, Ore. Dan is chairman of the board of the Technology Association of Georgia (TAG) Education Collaborative, an organization promoting STEM (science, technology, engineering and math) education in Georgia's middle and high schools. He is a member of TAG, and also serves on the boards of TechAmerica Southeast (formerly AEA); the Business & Technology Alliance, a TAG society; and TAG Marketing. The Sales Lead Management Association named Dan one of the 50 most influential people in sales lead management in 2009 and 2010. Dan is also the author of ViewPoint | The Truth About Lead Generation, a blog exploring issues related to B2B sales, marketing and lead generation. Click here to visit Dan's website   Sales Process Even a Man Lost Knows Where He Wants to Go Lead Generation Best Practices Multiply TouchesMediaCycles Judicial Branch Needed to Keep Sales Lead Management Honest Sales Marketing Still Not Aligned Who Owns the Fix Attributes of a WellQualified Lead |
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A couple of thoughts, here. If your name became the business name and you named your kid the same thing, if the kid resented the career path, he or she could just change the nature of the business! Sell the farm, turn their back on Dad's legacy, and start a communications business with the proceeds (or vice-versa). Get the old guy rolling in his grave before his time. Ha!
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Even so, a few years ago we STILL had a problem with our numbers in the telephone book. So I added "Senior" to his name in the book and "Junior" to mine, even though I feared my friends would start calling me Junior. They didn't, but what happened was, when people saw the Senior and the Junior in the book, they assumed the "Junior" was MY teenaged son (not) and that I was the Senior, so we still had mix-ups. lol
I gave my son the same middle name as mine, but gave him his own unique first name. And even if my Internet Marketing business develops into a Fortune 500 company or some such thing, I know he will want nothing to do with it, legacy or not. Even if he did, I still value giving a kid his or her own unique identity.
GT :-]
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