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ORGANIC FEE GROWTH

A fresh approach to. ORGANIC FEE GROWTH. Empowering public practitioners to grow their fee base. www.rpmgi.com. a ndrew.france@rpmgi.com. “Adapt or die. ”. Billy Beane General Manager Oakland Athletics. 48% of sales rep’s fail to hit their target. Off Target 48%. On Target 52%.

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ORGANIC FEE GROWTH

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  1. A fresh approach to ORGANICFEE GROWTH Empowering public practitioners to grow their fee base www.rpmgi.com andrew.france@rpmgi.com

  2. “Adapt or die.” Billy Beane General Manager Oakland Athletics

  3. 48% of sales rep’s failto hit their target Off Target 48% On Target 52% Source: RPMG Revenue Performance Index 2011

  4. Sales that fail to close as forecasted = 88% Leads generated not followed up by sales = 68% Actual selling time by sales people = 31%

  5. Only15% of organisations hit their sales target Source: RPMG Revenue Performance Index 2011

  6. And yet CEO growth aspirations for growth remain optimistic Increase > 20% 23% Increase > 10% but < 20% 42% Source: RPMG Revenue Performance Index 2011

  7. How to fuel sales growth… more feet on the street! Source: RPMG Revenue Performance Index 2011

  8. End-To-End Sales Closure Rate now = 2.4% 3.7% 2.4% 2006 2007 2008 2009 2011 Source: RPMG Revenue Performance Index 2011

  9. Every major step in the process is in trouble A. B. C. % of proposals / offers resulting in closed sales % of meetings leading to presentations/proposals % of leads resulting in Meetings / appointments 43.6% 42.8% 42.1% 39.5% 39.8% 38.8% 37.5% 36.6% 35.3% 35.1% 21.1% 19.9% 17.8% 17.9% 17.5% 2006 2007 2008 2009 2006 2007 2008 2009 2011 2011 2006 2007 2008 2009 2011 Source: RPMG Revenue Performance Index 2011

  10. Adapt or Die! Moneyball….for Revenue! Sales Leads Required Lead to 1st Meetings Ratio 1st Meetings Required Meeting to Proposal Ratio? Proposals Required Propose-To-Close Ratio? New Deals to Close Average Contract Size? New Revenue Next Year? 4,500 33% 1,500 33% 500 20% 100 $100K $10M 6,500engagements needed

  11. “Customer buying processes have evolved in our world of ubiquitous, instant, global communications. But companies’ selling process have, for the most part, remained anchored in the dark ages.” Fred Hassan – CEO, Schering Plough

  12. Revenue creation use to be simple and linear Traditional Sales Process Marketing Opportunities Awareness

  13. Buyers have now moved to new buying channels. Sellers have not. Internet-driven changes in B2B buyer behavior Your buyers go to the web to research business solutions... long before they will talk to your sales rep! The marketing-to-sales Black Hole Truncated Sales Process Marketing +40% of your good prospects are lost or mismanaged in this process gap Opportunities Leads Leakage

  14. Industry Specific SMSF - 74,000 Monthly Searches

  15. Accounting Practice Sales Funnel very narrow opening fairly good conversion metrics sometimes blocked often random slow trickle of new revenue

  16. Dreaming is at the heart of disruption ! Only when we dream can we hope to create something truly new, something that will overtake old habits, old customs, and old ways of thinking and being

  17. Development of Sales Three previous breakthrough ideas in sales • 1910: the division of labour in Insurance sales between ‘hunters’ & ‘farmers’ • 1925: the understanding of buyer decision by E. K. Strong “Psychology of Selling” • 1970’s: Consultative Selling eg Huthwaite S.P.I.N. took 1:1 sales into B2B • 1980’s: Purchasing Revolution – saw no corresponding sales response! • 2000’s: Internet Revolution – saw no corresponding sales response

  18. Challenge the ‘Status Quo’ Positive Your Solution implementation path Reframe of problem Warmer Building credibility Rational Drowning Intensification of problem Value Proposition A new way Neutral Level of Customer Excitement (feeling) Emotional Impact Humanising the problem Negative Drowning Relieved Intrigued Involved Customer State Source: The Corporate Executive Board

  19. Drivers of Customer Loyalty • The Purchase Experience… • Offers unique, valuable perspectives on the market • Helps me navigate alternatives • Provides ongoing advice or consultation • Helps me avoid potential landmines • Educates me a new issues and outcomes • Supplier is easy to buy from • supplier has widespread support across my organisation 53% Percentage of Contribution to Customer Loyalty 9% 19% 19% Company and Brand Impact Product and Service Delivery Value-to-price Ratio Sales Experience Source: Sales Executive Council Research

  20. Individual “Heat-Map” 0 Agreeableness Extraversion Hunting Farming 92 79 51 92 5 + 2 Personality Dimensions Emotional Stability & Intelligence Conscientious Orientation & DISC 79 Dominance Influencing 86 20 55 86 80 10 15 Optimism Open Mindedness Conscientious- ness Steadiness Persuasion & Influencing Achievement Orientation 95% Needs Identification Proposal & Validation 80 85 80 95 Competency Strength Revenue Drive & Focus RPM Strength 85 80 Goal Clarity Dealing with Objections 95 95 Positioning 80 75 Revenue Generation Experience 85 100 Perception of Effectiveness Democratic & Teamwork Closing & Follow-Up Prospect Engagement Attention to Details 90 90 Business / Entrepreneurial Orientation BD Strength 83 100 Customer Service Orientation 85 81 Business Development Skills Networking & Prospecting

  21. prob·lem /ˈpräbləm/ Noun 1. A matter or situation regarded as unwelcome or harmful and needing to be dealt with and overcome. 2. A thing difficult to achieve or accomplish. Synonyms question - issue - trouble

  22. Why are problems important? • Benefits arise from… • Solutions which address… • Needs which are prioritised by … • Problems A buyer with a need but not a problem will often spend time, but rarely spend money.

  23. Sample Problems • I can’t innovate fast enough and that means I can’t hit my business targets. • My employees can’t work when they’re not in the office and it’s costing me money • Our organization has grown and acquired businesses but we still can’t unify our systems. • Our IT resources and skills are struggling to support our business and hindering growth. • We can’t align all our resources around solving our core business problems therefore our people can’t collaborate.

  24. Problems Workshop Consider your markets. What further problems do these buyers face (that you can solve)? Consider your channels. What further problems for buyers does this channel uncover (that you can solve)? Consider your offerings. What further problems does this solution solve? Problems Addressed By Our Solutions Problems For Our Markets Problems Found By Our Channels

  25. Key Problems Consider how these problems affect buyers. Mark those that you feel would cause most difficulty if they are not addressed Consider how well your solution solves these problems. Mark those that you feel are addressed by your solutions Identify the six problems that buyers ought to be troubled about, and that you solve the best Worst Problems – For Our Buyers Best Problems – For Us 1. ………………………………………… 2. ………………………………………… 3. ………………………………………… 4. ………………………………………… 5. …………………………………………. 1. ………………………………………… 2. ………………………………………… 3. ………………………………………… 4. ………………………………………… 5. ………………………………………….

  26. One key problem? Find a big enough problem experienced by a large number of buyers, and solve that problem for those buyers better than anyone else can, and those buyers will pay you more money for doing so.

  27. Utopia… taking the interested Effective end to end revenue creation process turning them into prospects then sales leads And ultimately new customers achieving revenue target

  28. Filling The Funnel WHO and HOW INBOUND Marketing Ave. Lead Cost: $135 OUTBOUND Marketing Ave. Lead Cost: $346 Source: The state of inbound marketing. Hubspot, March 2012.

  29. Lead to Customer Close % by Channel Source: The state of inbound marketing. Hubspot, March 2012.

  30. Roles(s) of Social Media

  31. Utopia…????

  32. Top of Funnel Plan the path And as much as possible Enable it withtechnology

  33. Marketing Automation

  34. Interested DEFINITION capturing the interested They might one day buy your product, but also includes everyone who may consume or share your content turning them into prospects DESIRE Want what you know not what you sell then sales leads CONTENT Info-graphics, Video’s, Curated Lists, Blog And ultimately new customers CHANNEL Blogs, Social Networks, Partner Sites

  35. Prospects (MQL) DEFINITION capturing the interested Have actively supplied personal information in exchange for more content turning them into prospects DESIRE Content that relates to their professional interests then sales leads CONTENT E-books, Guides, Reports, Guru’s And ultimately new customers CHANNEL Email / Direct Mail, Advertising / Display Webinar & Events

  36. Bottom of Funnel Personal Contact Close with confidence

  37. Sales Leads (SQL) capturing the interested DEFINITION SQL – as agreed by both sales and marketing has met specific criteria (who they are and what they have done) turning them into prospects DESIRE Content that address their business pains then sales leads CONTENT Industry specific case studies, white papers, product comparisons And ultimately new customers CHANNEL One to one – phone, email, face to face

  38. Revenue Telemetry

  39. Summary • Business Development is tough • The Buyers Journey has changed • Do you REALLY want to grow? • Who is part of your team? • What problem are you solving? • Measure the change you want to see • Put process around achieving it • Leverage technology to achieve it

  40. THANKS Andrew France andrew.france@rpmgi.com www.rpmgi.com.au

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