 Targeted Business Creation |
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As a result:
- 87% of all leads are never followed up on.
- 20% of your prospects will produce 80% of your profits. Most businesses don't know how to identify the 20% to go after. Consequently, marketing efforts, resources, and cash are wasted pursuing customers who are not desirable.
- The number one reason for sales failure is the failure of the sales force to be involved with a customer/prospect when they wish to buy.
- Most sales organizations inadvertently overpay their sales staff due to the fact that their business development process inhibits production. If you improve the process and thereby enhance productivity, sales and marketing expenses as a percentage of revenue WILL decrease.
- Each of your prospective business' 3-5 decision makers needs to be touched 6-7 times before they will buy. The average salesperson abandons selling efforts after 2 attempts. This gap raises costs due to reduced efficiency. It also insures that your team will only close the "low hanging fruit."
- 45% of all business-to-business leads will buy somebody's product or service. The question is whether your company will be involved when it's time to compete.
- According to a recent survey of purchasing professionals, the number one reason for termination of a vendor/supplier relationship is negligence by the supplier.
- Expenses and frustrations increase and profits drop when sales organizations handle inquiries improperly. The typical inquiry requires 6-18 months to close. The typical sales force abandons selling efforts to an inquiry after the first or second attempt. This causes the vast majority of expensive inquiries to be wasted.
- You can't improve your market share until you improve your prospect share. You need to talk to more qualified prospects, more often.
- It is impossible to sell while prospecting, and it is impossible to prospect while selling, yet both activities must occur all the time.
- Salespeople avoid prospecting because they know it provides a low return on their time investment.
The most important element in the marketing and sales process is the relationship between the buyer and the seller. A buyer demands 6.7 quality contacts prior to a sale. The average salesperson, however, is only able to deliver 1.5 contacts before abandoning the sale. Most sales organizations survive on this small subset of their potential marketplace. They only close the "low-hanging fruit."
The Targeted Business Creation System (TBCS) that Roth Consulting Group will design for you to implement will remove this disparity by creating a new capability within your sales force. Your TBCS will be fully dedicated to the courtship process that the buyer requires. By leveraging technology, the TBCS creates professional correspondence, and then manages the sales force to follow up and develop a relationship with the prospect.
Core issues corrected by the TBCS are:
- Sales Funnel. Your "sales funnel" is too narrow. Your funnel does not allow your sales team to compete for all viable opportunities in your market. At the same time, your sales process prohibits frequent "touching" of those opportunities in your funnel. The combination of a narrow funnel (reach) and inappropriate touching (frequency) conspires to cause your funnel to not only fail to engage the appropriate number of opportunities, but also to "leak" some of those opportunities which do manage to fall into the funnel. Consequently, your process suppresses your organization's ability to sell.
- Visibility. Your management team does not have the ability to view today's activities and correlate them to tomorrow's success (or lack thereof). No other segment of a successful business operates with so little process control than the sales process. The sales function is managed with a historical view (i.e. results produced). Your process prevents management from having adequate levels of visibility on activities and their relation to sales success.
