SELIGENCE research indicates that there are 5 critical success factors to any sales and marketing initiative. Incorporate ALL 5 of these success factors into your sales and marketing efforts and you will realize immediate bottom line results.
1) WIFM. That’s right! Put yourself in your prospects shoes and think about they might want to hear from you. What’s your differentiated and customized message and value proposition? Is it compelling enough for a business executive to make a change or at least listen to what you have to say? Your message must resonate personally and emotionally and it must set you aside from the dozens of others calling on the same person. Short of giving something away for free, you need to offer something to your prospect that has a measurable value…something that’s going help them succeed personally and professionally.
2) Brand -There must be some brand name recognition whether it is through your own brand, the brand of your customers, or the brand of your business partners. Today, more than ever, customers want to do business with trusted household names. This is primarily due to the fact that many companies have been burned by fly-by-night technology startups. ‘No one ever got fired by hiring big blue’ Right? Companies are risk adverse by nature and want to do business with companies they know and trust. Find out how to leverage your brand and use it to your advantage.
3) Credibility - The person reaching out to the executive on the other end of the phone better know their business, the corporate strategies & objectives, the competitive landscape, and their products and services. The caller needs to know how to speak with a chief executive and a technical manager and know that the topics of discussion are generally different. To make an impact and leave a positive impression, there must be a peer-to-peer discussion. Arm yourself with account specific intelligence and impress your prospects with your knowledge of their business.
4) Target Accounts - Segment your target accounts by vertical/industry, geography, and annual revenue figures. Understand how you are going to approach each unique market and develop customized messages that address the specific needs and issues affecting them individually. Understand your solution and how it impacts each market segment and each line of business. Save wasted marketing dollars by segmenting your target markets and selecting the right target accounts. Understand the factors that create a ripe prospect and which accounts to stay away from by profiling your accounts.
5) F'up - Our job as sales and market analysts is complete when we deliver an intelligence report to our clients. We understand that our success hinges upon what our clients do with the sales intelligence afterwards. It is critical that our clients act upon our recommendations, close deals, and drive revenue. The follow up activity by sales and marketing determines how significant a return is realized on marketing dollars invested in our account profiles and customized sales intelligence reports.
50% of marketing dollars are wasted on marketing activities that produce no results. However, no one seems to know which 50% is wasted. We have found that the 5 basic success factors outlined above significantly reduce wasted marketing dollars.
For more information about our CRUSH Fortune 1000 account profile reports or our customized sales intelligence reports, please email Ryan Murray at rmurray@seligence.com
