• Develop a systematic
approach to demand creation - To achieve measurable results,
you must have a systematic approach to generating demand. Start
by doing the math. If you need to close 100 customers, how many
proposals will have to be generated? If your close ratio is 50
percent, 200 is the answer. How many qualified leads will you
have to generate to get 200 proposals? If you're efficient, perhaps
1,000. To get 1,000 qualified leads, how many prospects must flow
into your lead qualification systems? At this entry stage of the
sales funnel, you have to make assumptions as to how many leads
each marketing vehicle will generate. You'll need some multiple
of the 1,000 qualified leads because many leads will turn out
to be merely tire kickers. Finally, make assumptions as to the
response rates you'll get from every marketing vehicle you use,
from advertising to direct and e-mail marketing to events and
public relations. Ultimately, measuring how each element of the
marketing mix performs will let you increase your efficiency and
meet your sales goals.
• Focus on high-return
opportunities - The operative word here is "focus." Many business
people have a tendency to "spread out" in times of crisis and
look outside core markets for business. It's only natural to think
the more potential customers you have, the more potential business
you could get. However, what often results from this flurry of
activity is just that: a flurry of activity. Instead, you need
to be more productive and precise with the limited dollars you
have. You should concentrate your efforts and resources where
you have the highest probability of winning business. Then, further
concentrate on getting wins that represent high-return opportunities.
Know what types of customers represent potential growth and which
represent a distraction. Understand who is buying today -and who
has the potential to buy more tomorrow.
• Get closer to your
customers - In the game of darts, the closer you are to the
target, the more likely you are to score. The same principle applies
in business. The closer you are to your customers, the more likely
you are to score sales. Understand why they buy your product or
service, how they use it, what frustrates them and what pleases
them. Understand these subtleties and nuances better than your
competition - and respond to them better than your competition
- and you'll be more effective at winning business and building
relationships.
• Test high-return
techniques – For your organization, a high-return
marketing technique may mean using electronic mail or e-newsletters.
The Web represents a high-return opportunity because of the very
low variable costs associated with it. If you're selling a high-cost
product that requires approval from multiple decision-makers,
you might be better off spending more marketing dollars per contact.
Whatever your technique, you should be disciplined about having
measurement systems in place to determine what's working and what's
not. Use both qualitative and quantitative indicators to measure
your effectiveness.
• Integrate all your
efforts - This tip is perhaps where you can get the most bang
for your buck. All of your marketing programs should be inherently
linked to your sales efforts. Whether you use a direct sales force,
resellers, e-commerce, or a combination of all three, your marketing
efforts should be focused on moving the sales process along. Integration
also means making sure your marketing efforts are consistent and
reinforcing your core brand proposition and key messages. Public
relations, employee communications, advertising and on- and off-line
marketing all should communicate with one voice. Long term, this
unified effort will strengthen your brand and ultimately increase
your revenues and profitability.
