At SP Home Run, our clients have found the greatest success growing their revenue when they’ve integrated these five essential pillars for growth in their overall strategy and company culture:
Most companies looking to grow revenue have specific SMART goals in mind. These same companies also have interim steps and SMART goals mapped out to grow their leads, sales opportunities, and new clients. To scale revenue growth, a company must achieve or be working towards product/market fit.
Traditional sales and marketing teams face a lot of challenges today when it comes to revenue growth.
The way prospects and clients research and make purchase decisions has changed dramatically 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.
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:
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.
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
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 to speak with sales.
However there’s a downside to being invisible during the early stages of the buyer’s journey. What’s that downside?
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, here's what we recommend.
If you’re a CEO, president, founder, or owner of a small business in South Florida, and you’re trying to position your company as the premier provider in your industry, differentiate from larger competitors, improve processes, and build trust among your prospects and clients, here are some recommended resources: