EP Huddle #14
Measuring return on investment from marketing efforts is one of the most important things a small business can do. Yet, it's rarely done. Why? It's hard.
Since small businesses don't have unlimited cash to invest in every marketing idea, it's important to make sure the money you do spend is generating awareness, leads and customers. In order to maximize the return on investment and make good choices about marketing opportunities in the future, consider the following steps for tracking your marketing results in the context of sales.
As at team:
What other ways can you track money and time you're spending on marketing campaigns? Talk with your team about how you can use the resources you currently have to track the above bullet points.
EP Huddle #12
Engaged Prospect has helped many companies launch their sales and marketing campaigns for a new product or service (or company altogether). We've learned that in addition to generating new customers and revenue, there are a few equally important goals for a new go-to-market strategy.
Here are three.
As a team:
In addition to generating sales, what additional goals can you set for your team to continue to learn the market and industry? When you launch a new product or service, what are the key metrics you will look for to define success? What key learning outcomes are you hoping to achieve on each prospect or customer call?
It's important to discuss these within your organization to ensure your team is looking for true value beyond a purchase order.
EP Huddle #10:
We spend a lot of time talking about each specific sales account and upcoming prospects we expect to move into the pipeline. We discuss appointments scheduled, meetings conducted, proposals sent and sales forecasts.
As a sales organization, we're constantly reviewing data and anecdotal summaries of accounts, campaigns and sales information. But, we've found the best way to approach the idea of sales reporting is to automate the things that can be automated, and then ask for a crystal clear picture of everything else.
The reasons for sales reporting is two fold, but is utilized poorly within many organizations. The reasons are: 1) Sales reporting helps the sales team work together to help generate revenue, solve problems and overcome obstacles. 2) Sales reporting helps management forecast sales numbers and determine what the future sales opportunity looks like. Unfortunately, too many sales leaders only focus on the second reason and aren't asking for information to further help the sales person increase sales and be successful.
Here's a list of (some of) the things we ask for, and a small summary for how this information is delivered.
As a team:
What additional reporting is helpful in your business? As you talk with your group, make sure the following bullet points are considered.
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