In today's market along with its variable economic climate, it pays dividends to take a long-term approach, not just to win the battle but to win the war.
More granular breakdown and segmentation of your target data (with different calls to action), are key for the survival of business let alone growth. Essentially, you have to do the grunt work - something that for some, has not been for the faint of heart. Execute the grunt work at the start and you will reap the benefits of doing so, faster.
There are certain additional points of focus that deliver valuable intelligence to your CRM system, ensuring that future Marketing £Pounds are doing the best that is required of them. For example, in the ERP market - were you aware that as much as 50% of your primary target audience may not be of relevance to your business any more? And yet each direct campaign you embark upon may still be using a large part of your budget to target companies that will no longer have any interest in what is currently within your solutions portfolio.
So before you start your next campaign, we can tell you the reasons behind the above statement and from the data within our own CRM, can highlight many of the companies you should avoid targeting in the future - saving you money and wasted effort even before starting a campaign, giving you greater focus on the target companies that matter, making your budget go further and increase the probability of a better ROI.
What is your policy when you encounter a company that is at the shortlist stage and they say it's too late for you to get involved?
At TriWonder Data UK, we have a 'never say die' approach. We can convert at least 40% of such 'encounters' into hot one hour exploratory appointments with very short sales cycles!
Nurture those leads! Lead leakage can account for between 10% and 15% of your prospect pipeline. We can help you to reduce lead leakage to a minimum, with our appointment making services.
It is not uncommon for Sales personnel to try to progress a new lead up to 5 times and then give up because of other, hotter prospect commitments. It is also not uncommon for Sales personnel to 'sit on a lead' rather than pass it back to Marketing for continued nurturing. There has to be a mechanism or set of processes/protocols within each business to address what is a fundamental break in communication that increases the risk of any business not achieving its growth targets!
What bolt-ons can you sell to companies who implemented new core enterprise systems 2 or 3 years ago? Do you have within your CRM, intelligence that holds such data for you to launch new offerings to a 'softer' target market without embarking on a cold campaign?
What is your definition of a lead compared to a prospect?
Some companies recognise the terminology used in Sales and Marketing differently. This could be as a result of individual training background, be it commercial or academic.
This is compounded further by the definitions that your CRM system may use and data supply companies who seem to call targets either leads or prospects.
For us, we only use the terminology of leads or prospects (with appropriate grading codes) if some form of qualification has already been undertaken by us first. We then grade the leads accordingly to a pre-defined list of key qualification criteria to ensure we give each lead its relevant level of priority over other leads 'in the funnel'
So before any campaign begins, we have to make sure that our definitions match, avoiding future confusion.
TriWonder Data UK
Tel: +44 (0)1423 369266
You can also use our contact form.
You can reach us between 8.30am to 6.00pm, Monday to Friday inclusive.
If your own working week schedule is full to discuss your needs, we are happy to receive pre-arranged calls by appointment until 9pm GMT, Monday to Thursday.
To check out our 'Helpful Tips' and 'Downloads' pages for useful value-add documents that strengthen your B2B Marketing strategy - Click here!
Download collateral for top tips to enrich your overall demand generation experience plus articles that we believe are right to share with you in order to further enhance your Sales culture and Marketing strategy for the better - click here It's all part of the service and helps to support our commitment to transparency in service delivery.