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Sales and Marketing in the Information Age

Sales and Marketing in the Information Age. Creating Value for Buyers The Changing Face of IT Sales. Peter Lawless. What Constitutes a Successful Company?. Producing an excellent product or service. Selling and Supporting what they produce. The 5 Key Success Factors. Increasing Leads

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Sales and Marketing in the Information Age

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  1. Sales and Marketing in the Information Age Creating Value for Buyers The Changing Face of IT Sales Peter Lawless

  2. What Constitutes a Successful Company? • Producing an excellent product or service. • Selling and Supporting what they produce.

  3. The 5 Key Success Factors • Increasing Leads • Converting Leads to Sales • Lifetime Customer Value (Annualised) • Operating Costs (Margin) • Reinvesting Profit to foster Innovation

  4. Lead Generation (Prospecting) Commonly known as Marketing A lead can be defined as follows: • A person or company that has expressed an interest in you or your product • This could be either as a result of: • You contacting them - outbound • Or them contacting you - inbound

  5. Converting Leads to Sales • What problem or desire does the product address? • What does addressing that issue enable the purchaser to do? • Can the buyer assign a value to that new capability? • When ideally do they need this by? • What is the cost of doing nothing?

  6. Increasing Lifetime Value • Excellent Service & Support • CRM processes • Customer Relationship Management • Multiple transactions – Cross Sell • Similar experience across Channels • Easy for customers to buy • Brand Recognition & Value • Customer Loyalty

  7. Increasing Margin (reduce costs) • Margin = Selling Price – Cost • 2 ways to increase Margin • Increase Selling Price • Reduce Cost of Production and Sales • Costs consist of two variables • Fixed – constant regardless of production volume • Variable - relating to volume and sales

  8. Protect Profit and Increase Wealth • Financial • Maintain cash flow at optimum cost • Reinvest Profits – Strategic Planning • R&D – Innovation and diversification • Increase production and sales capacity • Legal • Protect Intellectual Property • Mitigate against contrary Conditions • HR • People are your most vital asset

  9. Success Factors in Practice • Qualified Marketing Leads received by Sales

  10. Success Factors in Practice • The Percentage of leads that turn into sales

  11. Success Factors in Practice • The Average amount a customer will spend as long as they remain a customer

  12. Success Factors in Practice • Sales less expenses expressed as a percentage

  13. Success Factors in Practice • Profit is arrived at as follows: • Leads * • Conversions * • Lifetime Value * • Margin

  14. Success Factors in Practice • Wealth is defined as what the business owner takes before tax

  15. Influencing the Success Factors • A 10% increase in any one factor would yield • €1,000 more profit • Do Companies Capitalise on this? • Which factors Should You influence?

  16. Influencing the Wealth Factors • New Business can implement strategic plans for continuous monitoring and improvement of all 5 wealth factors • Existing business should choose at least 2 to start with and work up to having a plan for all 5 • Key challenges are to change existing cultures • Increasing sales alone is not always the answer – especially if each sale loses money!

  17. 10% Across all 5 key success Factors Yields 61% Growth

  18. We will now focus on just 2? • Marketing - Providing a constant flow of quality leads. • Sales – Converting the leads into customers, in the shortest time, with a maximum lifetime value.

  19. Lead Generation's Secret Seven (ADSPORT) Advertising Telephone Referral Direct Mail Speaking Online Publishing Lead Generation - ADSPORT

  20. Tactic 1 - Advertising • Classic Advertising • Print, TV, and Radio • New Wave • Google, Viral, Banner • Innovative • Luas Tickets, Space Shuttle, Taxi • All Advertising MUST have a “Call-to-Action”

  21. Tactic 2 – Direct Marketing • Hard Copy • Letter, Flyers, Postcards, Newsletters • Electronic • eZines, Fax, Text, Newsreader • Innovative • Creative way of delivering targeted message to decision maker

  22. Tactic 3 – Speaking • Company Run Seminars • Audio Tapes/CDs • Training • Media Interviews (TV, radio) • Guest Speaker • Excellent 1 to Many medium

  23. Tactic 4 – Publishing • Media Interviews in Print • Web Articles • Press Releases • White Papers • eBooks • Books • “let me introduce you to the guy who wrote the book”!

  24. Tactic 5 – Online • Web Presence • Marketing and Sales Tool • What should it achieve? • Sign up for newsletter • Avail of Consultation • Buy Product • Inform your prospects • Can it be seen • SEO, Page ranking, Blogs, etc

  25. Tactic 6 – Referrals • The Ultimate Lead Generation Tool • Different from “Word of Mouth” • Have a Strategy • Always ask • Make it easy • Reward Referrers

  26. Tactic 7 – Telephone • Outbound • Cold calling (never) • Telemarketing agency • Inbound • Scripts • Interactive Call to Action • Don’t Sell – set appointment

  27. We will now focus on just 2? • Marketing - Providing a constant flow of quality leads. • Sales – Converting the leads into customers, in the shortest time, with a maximum lifetime value.

  28. Prospects Lead Generation Identifying – 10% Valuing – 25% Qualifying – 50% Negotiating – 75% Customers Implementing / Supporting A good sales process ensures best sales practices get repeated Converting Leads to Sales

  29. Converting Leads to Sales • What problem or desire does the product address? • What does addressing that issue enable the purchaser to do? • Can the buyer assign a value to that new capability? • When ideally do they need this by? • What is the cost of doing nothing?

  30. Definition of the 3Rs Solution Payback is expressed in terms of at least one of the following: • Revenue Growth • Reduction in costs • Regulatory Requirements

  31. Sales Cycle 1 – Identifying – 10% • Solution payback mapped to 3Rs • Champion Identified • Timeline to Purchase agreed

  32. Sales Cycle 2 – Valuing – 25% • Champion Visualizes 3R payback • Agreement to meet Decision Maker/s • 3R Stakeholders Identified

  33. Sales Cycle 3 – Qualifying – 50% • Decision maker confirms 3R payback • Evaluation criteria and plan agreed • Method of Finance agreed

  34. Sales Cycle 4 – Negotiating – 75% • Evaluation criteria met or exceeded • Verbal agreement from DM • Contracts with Legal and Purchasing

  35. Converting Leads to Sales

  36. Thank you for Participating Your Business Growth Specialists Increasing Your Sales Delivering More leads Coaching Leaders for Success Motivating teams and groups www.3r.ie

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