Now, that the first quarter is over, it is time to review your sales practice for the next three quarters to ensure you find the right leads. It has never been as important to sell to the right people and have a clearly identified sales process.
- Data-Driven Market Approach – Before making key decisions on how you will nurture leads, look at your data. Find out what has been working and what hasn’t? What segments are gaining the most engagement and the messaging being used? By knowing this information, you can find out how you can effectively engage with your prospecting leads.
- Identify the prospects that didn’t turn into customers – This can be the case that some leads who were ideal prospects, didn’t materialise into customers. That’s okay as some customers will take longer before they buy from you. Integrate your sales and marketing activity as those leads usually need more time, more information and more nurturing.
- Keep your CRM system up to date – By validating your CRM system you can ensure that your strategies and plans will reach the right customer.
- Account-based marketing activity – This is an old trick but works. Create a list of all the companies you want and plan your communications around this. By having a clear outline of the companies, you can start to alter the messages that will engage with these prospects.
- Brainstorming top of funnel – Your funnel always has to be reviewed, especially the top funnel. Create strategies that will continue to drive those early-stage leads into the top of your funnel.
- Timing – Map out the crucial times of the year and why people will want your product at that particular time. By knowing this you can design a business development strategy around these times and tailor your messages appropriately to create the most impact.
- Avoid the black hole – The dreaded sales lead black hole, is where up to 70% of marketing-generated leads die due to lack of follow-up. This can happen when you only communicate through email, as there needs to be human interaction. Make sure you follow up with all emails as customers usually like to have a conversation about your services or product before agreeing to purchase. Assess your customer touch points, and ensure there is interaction at each one.
The sales funnel should always be reviewed and improved. Therefore, it is vital to take time out to carry out a complete analysis of your sales activity, ensuring that you are finding out where your strengths and weaknesses are. By doing this, you will improve your lead generation and your conversion rate.
HMC Global have over 25 years’ experience in attracting inward investment to our client’s regions and helping private sector companies to expand into new markets. We will work with you to develop a toolbox that ensures you have the right knowledge and intelligence to move forward with confidence. Partnering with you to forge deep understanding, we find meaningful, often unexpected insights, that inform smart, successful strategy and a blueprint for the future.
If you want to find out more about how we can help your business with their sales process, email Michael Kerr, Senior Associate on firstname.lastname@example.org