According to one study, 57% of sales professionals expect to miss their target numbers. However, these same people admit they are only spending 34% of their time selling. Their company hasn’t set up a strategy conducive for growth. If you aren’t already tracking your company’s growth rate, it’s time to start. Growth doesn’t happen just because it’s a new year, or a certain amount of time has passed. Real growth requires changes in your company’s plan. There are many smaller factors that must work together to achieve optimum growth and for you to experience success.
As you’re coming up to the end of this year, take these areas into consideration to increase your growth rate:
It’s always surprising how many businesses don’t develop a clear understanding of who their ideal target client is, and what motivates their decision-making. Although it might feel time consuming, determining your target market allows your team to focus marketing and sales efforts in the most cost-effective ways possible. You’ll grow two times faster if you know what you’re aiming for, rather than shooting in the dark.
Once you have a clear understanding of who your target audience is, take it a step further. What are their true pain points related to your business? These are your door openers. Use these pain points to relate to your audience and sell how you/your service can ease some of the stress.
How many customers in total are in your target market? Have may of them have you already started nurturing through messaging and value adds? That is a start, but you can also map out your audience further, to prioritize the most important prospective customers. Identify the companies who are: growing, have executive personnel movement, or just received company funding. It’s likely your original target market number is pretty large. This will help you focus in on your efforts.
There are a number of different sales and marketing strategies to think about for growing your client base. A few of the most known for success include:
How are you actively engaging with your prospects? Each of them should be on a regular cadence, but not all of them will be ready to buy at the same time. Depending on what phase they are at in your buyer’s journey, you’ll want to customize the message. Some might be gathering more information, some might still be identifying they have a problem, some may even be past customers. If you are tailoring your message to fit where they’re at, you’re more likely to set a meeting and continue the conversation further.
It’s important to always have a clear understanding of where you’re at, in terms of tracking towards your larger goals. Keep track of your KPIs on a regular basis and be willing to pivot your strategy when necessary in order to meet them.
Business development is a discipline that requires strategy and multiple pieces to fit together and create success. The Sales Group can introduce your company to a large audience and set up the right strategy for growth. Contact me at Donna.Gliha@salesgroup-global.com to talk further.