Revenue Growth

Revenue Growth

Traditional sales and marketing teams face a lot of challenges today when it comes to revenue growth. 

Why?

The way prospects and clients research and make purchase decisions has changed drastically during the past five years.

Yet most companies are still using the same sales and marketing playbook that they’ve used since the early 2000s. 

As a result, there’s a real disconnect and lack of alignment between most sales teams and marketing teams.

 

Closing the Loop on Revenue Growth

In a world where 70% or more of the decision making process is over before sales teams even get invited to speak with potential clients, marketing needs to largely carry the ball during that first 70% of the buyer’s journey:

  • Attracting the right website visitors, in the right places, at the right time, and in the right context
  • Converting website visitors into leads
  • Segmenting and nurturing leads into sales-ready leads, and
  • Closing the loop with sales teams on which leads generated revenue growth and which did not. 

But that’s not how sales/marketing collaboration plays out in most companies. 

Sales directors worry about recruiting, hiring, and training new reps, deal stages, pipeline forecasts, quota attainment, closed deals, and revenue generated. 

Marketing directors worry about branding, design, events, media relations, social media, content, and perhaps some lead generation.

The Traditional Sales and Marketing Playbooks Are Obsolete

However when your prospects and clients are doing tons of self-directed research before they’re ready for a conversation with your sales team, these traditional approaches to sales and marketing leave a lot to be desired. 

If we accept the fact that marketing’s primary job is to make sales teams look like rock stars, many of the superfluous nice-to-haves need to give way towards a more modern approach that focuses on two areas

  1. Personalization - both by buyer persona and buyer’s journey stage/context
  2. Full Funnel Approach - with an emphasis on generating mostly early stage leads and nurturing them into sales opportunities in the right context

Measuring What’s Working and What’s Not

All too often, companies are investing a lot of resources into trade shows, event sponsorships, content creation, and social media -- with very little thought given to how these campaigns lead to revenue growth and how they’ll measure what specific tactics are working. 

And one caveat with all of this: Many companies are only positioned to generate late-stage leads. At first glance, some sales directors will mistakenly think this is a good thing: these prospects are ready with sales. 

However there’s a downside to being invisible during the early stages of the buyer’s journey. What’s that downside?

Why Getting Found Early is Critical for Profitable Revenue Growth

During the first 70% of the buyer’s journey, another company -- probably a competitor of yours -- was answering their questions, providing unique insight into solving their biggest problems, educating them on the issues these prospects care most about, and helping these prospects frame how they evaluate different alternatives and navigate the buyer’s journey. 

In other words, your sales team arrived too late. Your prospects already fell in love with another company. The only way your sales team can win is by aggressively slashing their price and profit margins -- because they failed to gain needed leverage as trusted advisors, and are now merely seen as a vendor bidding for the business. 

So not all revenue growth is profitable revenue growth. 

If you’re serious about creating scalable, predictable revenue growth, primarily with your ideal target clients, we recommend that you:

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3 Revenue Growth Opportunities Your Business May Be Missing

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