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You need to turn, start small - start now

You need to turn, start small – start now

There is a VP of sales and marketing that I know that has an interesting problem.   When I enter a couple of keywords into Google his company comes up second (organic) with over 3.7 Million results.  That example of SEO is fantastic and would have anyone drooling.   His problem is that his market is changing driving lower prices and lower market share.   The strain on profits meant less money for business development and marketing.  A big push was implemented to update his sales effort but marketing suffered.  His website had not been updated since 2012.

He needs a way to drive sales

When I asked him how much business was coming in over his website he did not know.  He did not know how many individuals were visiting his website, where they were going and how long they were staying there.  He did not know how much business he may be losing to his competition.

How should he most effectively use his existing assets to grow his business?

In a B2B world the buyer’s journey is 70% complete by the time they contact a sales person.  (SiriusDecisions)    There are warm leads, people that came to you, that spent time on your site, that are ready to engage that are going to others.  If you don’t know who is looking at you –  you are losing potential business.

How much is this lost business worth?

Successful companies are looking at their entire sales funnel.  How many prospects are entering, where are they coming from, how are they being nurtured, how many become potential customers, how many are buying, how many buy again and how are they encouraged to buy more the next time?  One on one selling is very important.   Success and failure is dependent on the amount of business that is closed and delivered.   You need talented sales people (hunters) to call on your clients and close them.  The more they are closing the happier they and you are.  Productivity is important.  When is a prospect or customer ready to buy?  How do you keep your hunters productive and happy?

Technology exists today that will allow you to see who is entering your website, where they came from, what they are doing, and how long they are doing it.  You can also automatically engage with these prospects/customers to provide additional information.   When your prospect is ready their contact information can be automatically forwarded to one of your hunters.    Most importantly all of this activity can be measured.  Return on investment can be calculated.

This method works.  On average organizations that use lead scoring experience a 77% increase in lead generation ROI over organizations that do not use lead scoring. (MarketingSherpa)

These are customers that are already coming to you.  If your market is a cave why use a penlight to search when a searchlight is available?

So why isn’t everyone doing some sort of automatic lead scoring?   It is tough to turn a large ship in a channel.  Many organizations see a significant task and a significant risk of failure.

The key is start small and start!  

In the Navy it is recommended to commit to a turn early and gradually rather than throw the rudder over full.  Once the ship begins the turn and you see how fast you are moving you can adjust the rudder for a smooth completion.   The longer you wait the closer you get to the rocks and the more extreme and risky the maneuver.

What does this mean for your business?  Ask yourself these questions;

  1. How are your customers finding you?
  2. If you are using a website where are your customers going?  What are they doing?  Is there a call to action?  How is it working?
  3. How are you nurturing your customers that are not ready to buy?  Are they returning for multiple visits?
  4. How do you know when a customer is “warm” and is ready for a sales representative to contact them?

This type of program can be planned and implanted at a small level. Pick an area of your business where you can experiment. Find a resource to help you implement.   If successful the program can be expanded.  The secret is to get started and try, the sooner the better.

Please let me know if you have questions or comments.

Until next time – all the best!

RolandB

Want more information on customer acquisition marketing automation?  Click here and scroll down to the pdf

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