This article will discuss implementing a revenue optimization strategy by removing siloed processes and unifying them by focusing on revenue.
Before We Begin, Our Background:
Wave Representatives 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 Representatives 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.
Marketing Funnel: (TOFU, MOFU, BOFU)
Lead to Revenue Optimization starts at the “top of the funnel” and working through the marketing stages to the “bottom of funnel,” it’s important to review all activities (blog, social, ebooks, events, direct mail, email campaigns, webinars, etc.)
Lead to Revenue, 5 Tips:
1. Address gaps in timely follow-up, chat inquiries, and other marketing stages.
2. How effective is your marketing to sales hand-off once a prospect has gone through awareness, evaluation, and conversion phases?
3. Efficient marketing to sales communication and a rock-solid hand-off process are key areas for revenue acceleration.
4. Show salespeople what your marketing funnel looks like, what each acronym means, and when prospects are considered qualified sales leads.
5. Sales Development Representatives play a critical role at this stage to ensure senior salespeople aren’t wasting their time qualifying prospects.
Sales Funnel: Phase 1
Lead to Revenue Optimization within the Sales Department, starts by dividing sales into development and opportunity-based roles.
Sales Development Representatives 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.
Lead to Revenue, 5 Tips:
1. Sales Development Representatives need a tech stack geared for scalable personalized outreach, requiring a unique set of selling tools.
2. Sales Development Representatives provide an excellent bridge between marketing and sales and quickly respond to all inbound leads.
3. Leverage great marketing content by personally delivering ebooks, videos, and articles to the prospects that DO fit your ideal customers.
4. Transcribing calls can uncover what prospects are asking, how well the discovery process is going, and where you can replicate success.
5. 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.
Sales Funnel: Phase 2
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.
The Product Demonstration:
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.
Lead to Revenue, 5 Tips:
1. 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.
2. Uncovering desired outcomes is key to mutually beneficial partnerships. Can your solution best address their needs?
3. Eliminating buying friction during this process by ensuring meaningful progress is made during each interaction.
4. The prospect should have a clear itinerary and find the time spent meeting with you productive. Listening to previous calls can help tremendously.
5. 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.
Best-in-Class versus All-in-One:
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 a best-in-class solution generates revenue faster than all-encompassing solutions.
WaveOutreach (Sales Development Services) provides clients with dedicated Sales Development Representatives under their brand that will leverage these new tools, so your direct teams will be unphased by new technology rollouts.
Note: This type of engagement allows businesses to easily execute new initiatives without negatively impacting the performance of internal sales teams.
Our team integrates these new tools with your tech stack and develops effective playbooks and messaging to deliver important improvements with end-user engagement, channel partner engagement, and lead response time.
What Makes Engagement Effective?
The number one issue we see with poor outreach is the salesperson’s lack of personalization and authenticity.
To have a successful revenue optimization strategy, Sales Development Representatives should focus on the right accounts, prospects and produce researched, personalized engagement using best practices.
Why Outsourcing Succeeds when In-House Fails?
We’ve found that internal teams are rooted in current opportunities and have little bandwidth to qualify potentialities in exchange for qualified business.
Even with Business Development Representatives – internal teams are almost exclusively tasked with inbound or Account engagement and follow-up. They won’t have the time and persistence required for the modern end-user engagement and follow-up. (See our previous article showing the latest statistics necessary for lead generation and lead follow-up.)
Increasing Conversations = Increasing Revenue.
Wave Representatives has been purpose-built to connect with end-users and channel partners to create significant engagement, pipeline, and revenue gains.
Our industry experience combined with a professional educational approach provides both end-users and channel partners the confidence they need to purchase and support our client’s products.
Direct Market Intelligence
In addition to demand generation, lead follow up and better engagement – we sought to help businesses better understand their customers with actionable direct market intelligence and visibility on pipeline and brand loyalty.
To find out how your organization can benefit from Wave Representatives lead to revenue optimization, send us an email or give us a call. We’ll schedule a demonstration of our program and how we’re solving these business challenges and more.
Contact Wave Representatives for more information at 858-252-2880.
Wave Representatives, LLC™ Your Best Partner™ WaveOutreach™