Drive Predictable Revenue by Managing Your Revenue Machine
According to a CSO Insight's Sales Performance Optimization study, only 52% of sales reps met quota in 2010 and companies achieved only 78% of their revenue plans. Companies faced tough questions about their ability to deliver consistent predictable revenue. Today's best companies are using a new revenue engines that leverage repeatable marketing and new sales techniques to grow revenue more reliably. The following are a list of those strategies that were used by many of these organizations to further their marketing efforts.
Lead Generation. Other methods of lead generation that create a steady stream of quality leads include word of mouth, organic search optimization and content-based marketing. Now is the time to build the ‘Profile of Your Ideal Prospect.’
Lead Nurturing. Nurturing is about staying in touch with prospects as they educate themselves. Since some prospects will be ready quickly, and others will take longer. Lead nuturing has the effect of "smoothing out" lead generation to deliver a steady stream of prospects into your sales pipeline.
Lead Qualification. After determining what is market-qualified, there should be a "human touch" which decides whether the prospect can be passed to sales or recycled for more nurturing. Cold calling has never been fun! It is not a tool for selling, it’s a research tool that can be used to find qualified prospects that have an interest in your product or service. It’s important not to sell on the cold call, but take just enough time to determine interest so a one-on-one meeting can be set-up for the sales person. With this process in place, the lead should be worth the "expense" of the cost of sales.
Sales Development / Prospecting. Companies that have teams (In-house or outsourced) that specialize in this function alone increase productivity because the mindset and skills needed to qualify a lead are very different from the ones needed to take the qualified prospect and move them through the rest of the sale cycle.
Traditional Sales. The new revenue engine doesn't change the skills and best practices required in traditional sales. However, it does help sales reps focus their time and energy on the activities that are most likely to drive business.
Staying in step with most efficient means of selling is critical. The traditional model of a linear pipeline that flows from left to right hasn’t changed. It simply now requires two different skills set — where a cold calling team has the initial contact with a new prospect before turning them over to sales. Bill Binch, VP of Sales and Customer Success at Marketo, recently called this model the secret sauce of how the revenue-focused company creates a new customer. Marketo’s marketing team directly contributes a whopping 60% close ratio to this two team sales process. This process helps the company maintain lower customer acquisition costs to fuel bottom line and top line performance.
We at TeleArk are experts in the first phase. It is all we do and do it very well. We can have your revenue machine up and running in ten days or less. We are ready. What are you waiting for? Contact TeleArk today!
 More information about CSO Insights is available at http://www.csoinsights.com/Publications/Shop/Sales-Performance-Optimization