This article will cover implementing a lead to revenue optimization strategy by removing siloed processes and unifying them by focusing on revenue.
Marketing Funnel: (TOFU, MOFU, BOFU)
Lead to Revenue Optimization starts at the “top of the funnel” and works through the marketing stages into the sales funnel. Reviewing all activities (blog, social, ebooks, events, direct mail, email campaigns, webinars, etc.)
Important in this process:
- Address gaps in timely follow-up, chat inquiries, and other marketing stages.
- How effective is your marketing to sales hand-off once a prospect has gone through awareness, evaluation, and conversion phases?
- Efficient marketing to sales communication and a rock-solid hand-off process are key areas for revenue acceleration.
- Show salespeople what your marketing funnel looks like, each acronym, and when prospects are considered qualified sales leads.
- Sales Development Representatives (SDRs) play a critical role at this stage in ensuring senior salespeople aren’t wasting their time qualifying prospects.
- Sales Funnel:
- Lead to Revenue Optimization within the Sales Department, starts by dividing prospects into sales development and account management roles.
Sales / Marketing:
Sales Development should focus on the initial stages of prospecting; account and contact research, discovery, qualification, and finally, setting meetings for your Account Executives, enabling your sales team to run meaningful demonstrations and sales calls with pre-qualified prospects.
Important in this process:
- Sales Development Representatives need a technology stack geared for scalable personalized outreach, requiring a unique selling tool set.
- Sales Development Representatives provide an excellent bridge between marketing and sales and quickly respond to all inbound leads.
- Leverage great marketing content by personally delivering ebooks, videos, and articles to the prospects that DO fit your ideal customers.
- Transcribing calls can uncover what prospects are asking, how well the discovery process is going, and where you can replicate success.
- Many organizations struggle to keep Sales Development Representatives due to a common request to move into an Account Executives role, resulting in the need to constantly interview due to internal turnover.
Once the Sales Development Representative schedules either an onsite meeting or an online demo, your Account Executive can now leverage the notes from the earlier discussion for a meaningful and productive conversation for both parties.
Important in this process:
- During the discovery process, the Account Executive can connect the prospect’s needs to the strengths of your solution, uncovering your value over competitors.
- Sometimes, prospects only want to know “how much” and can become frustrated if your discovery process is repetitive, long, generic, or covers irrelevant materials.
- Becoming a good listener and presenter should be important to any salesperson. Ask questions that are important to your prospect, and find alignment.
- The buyer is examining your company and your ability to quickly answer their questions while you’re qualifying whether your value proposition addresses their challenge at a cost they can approve.
- Uncovering desired outcomes is key to mutually beneficial partnerships. Can your solution best address their needs?
- Eliminate buying friction during this process by ensuring that each interaction makes meaningful progress.
- The prospect should have a clear itinerary and find the time spent meeting with you productive. (Preparing by listening to previous interactions can help tremendously).
- Account Executives often struggle to reach enough stakeholders in the process. During discovery, even when speaking with an executive, it’s important to ensure all parties affected by the solution are involved and become advocates.
Lead to Revenue Optimization is fueled by technology since it now plays a crucial role in aiding both the buyer and salesperson through transparent next steps. Having a shared outline of what comes next and who is responsible for that next step helps create consensus and buy-in.
Integrating multiple vendors can be daunting to many organizations. However, the alternative is frequently worse; solutions that lack efficiency due to acquisitions or inadequate bolt-on features designed to only counter competitors can negatively affect your growth.
The preference should be on effectiveness. Often best-in-class solutions generate revenue faster than all-encompassing solutions.
Wave provides our clients with services built around this process, from augmenting your team with Sales Development Representatives) under their brand and leveraging recommended technologies, so your direct teams will be unphased by new rollouts.
Note: This type of engagement allows businesses to easily execute new initiatives without negatively impacting the performance of internal sales teams.
Wave also provides stand-alone software solutions based on your environment and business goals, assisting with the integration, onboarding, and playbook development. Developing effective playbooks, cadences, and messaging improves end-user engagement, channel partner engagement, and lead response time.
What Makes Engagement Effective?
The number one issue we see with poor results is the salesperson’s lack of personalization and an effective call to action that’s relevant to the prospect.
To have a successful revenue optimization strategy, Sales Development Representatives should focus on the right accounts and prospects and produce researched, personalized engagement using best practices.
Benefits to Outsourcing Sales Development:
- We’ve found that internal teams are rooted in current opportunities and have little bandwidth to qualify potentialities in exchange for qualified business.
- Even in-house inside sales representatives are almost exclusively tasked with inbound or account engagement and follow-up. They won’t have the time necessary for persistent end-user engagement and follow-up. (additional articles explain the statistics and benefits.)
- Wave has been purpose-built to connect with end-users and channel partners to create significant engagement, pipeline, and revenue gains.
- Wave assists customers in assessing, implementing, and utilizing software and services that increase revenue.
- We understand organizations’ apprehension when bringing on new tools due to the significant strain on staff productivity and revenue attainment.
- As a result, Wave leverages our experience using these “magic quadrant” tools to help our clients speed up the “onboarding to benefits” process through our embedded services, delivering a superior experience while mitigating in-house stress.
- Our industry experience and a professional educational approach provide end-users and channel partners the confidence they need to purchase and support our client’s products.
To find out how your organization can benefit from Wave Representatives lead to revenue optimization, chat below or call us at 858-252-2880. We’ll schedule a demonstration of our services and how we solve these business challenges.
Wave Representatives, LLC™ Your Best Partner™