Finding rhythm: When’s the right time to talk to your buyer?

When a buyer is ready to talk, we need to talk with them right away. And if they’re not, we need to follow up. But what is the right cadence? How quickly should I follow up? How quickly should my next and my next and my next correspondence be? How many should there be? Landing the right cadence - That's what we're going to explore in this month’s blog. Timing is everything When you say something is just as important as what you say. Imagine you've been used to receiving emails every month notifying you about a READ MORE

How to get your business performing like a winning Formula One team

Motor-enthusiasts know that March in Melbourne means cars. Really expensive, really loud, really fast cars. From my desk, I will be able to hear the sound of engines and virtually smell the petrol and rubber burning. In motorsport, the top drivers know that, “the farther you look, the faster you go.”[1] Even before the season begins, a common set of objectives are defined.  Driver and support crew will have agreed how fast they want the car to go – race by race, corner by corner, straight by straight. So why is it useful for businesses to consider the READ MORE

2020-06-03T11:07:56+10:00By |B2B marketing blog, Velocity|

How to make a perfect funnel model of your imperfect funnel

You work really hard for three years and does that leave you with 2% of the market or 20% of the market? How do you know? How much market do you need? We’ll explore how to make a perfect funnel model of your imperfect funnel in this week’s show. Here’s how the basic math works. Start at the bottom, how many sales do you need, work out what your leakage is by each stage and do the backward math. Now it can be that simple, but that invites all sorts of questions about what a good funnel READ MORE

2020-06-30T11:29:17+10:00By |Evergreen, Velocity|

Is inside sales the key to better response rates?

  It's all about responding quickly. In a study published in the Harvard Business Review, two researchers drew on some work across over 1,000 businesses and what they reported back on was how quickly businesses responded to online leads. Again, there is context, it was about specifically online leads and it was an American study but I believe it holds true for most countries.  What they found is that 37% of companies responded within an hour. Now, that's pretty good. Responding within an hour I think is good, and 37% of them doing it within that window, READ MORE

Hurry up and wait! How to reduce sales cycle length

  In B2B marketing, we often fret over the length of the sales cycle - it's always too long. If the economy gets nervous the funnel slows even further. So we're asked something like "how do you make your funnel flow faster?", "how do you reduce the sales cycle?" and "how do you make buyers act faster?" - all variations on a theme. To answer this, we need to understand why and where the funnel is slow. And that means today we need to expore the mind of the buyer, the efficacy of tactics, buying roadblocks, and READ MORE

Basic sales calculator tells a misleading story

How many leads do we need? A basic sales calculator will help you work out how may proposals and leads you need to meet your sales target. And it will be wrong. Adding just a small degree of sophistication to your sales calculator will deliver you a very different conclusion, resulting in a very different plan. In this week's show, we'll build a basic back-of-the-envelope sales calculator, and share a great free tool that will give you a result that will astound you. You need a lot less market than you think. All right, so bear with READ MORE

How to calculate your sales conversion rate (II), and why speed kills

In last week's show, we offered 10 steps for calculating sales conversion rate. We also promised to show you why lag is death. In English, why a buyer who has taken longer than normal is unlikely to buy from you at all. So does that mean there is merit in using assertive marketing and sales techniques to speed them up? We all want to speed our funnel up. In a recession like the GFC, sales cycles typically blow out, meaning buyers are taking longer than normal to buy. This could be so - they might genuinely be READ MORE

2020-06-30T12:21:58+10:00By |Evergreen, Sales|

Calculate your sales conversion rate in 10 steps, and discover why lag is death

  Ask any Sales Manager, and she will tell you that her team closes 1 in 4 (or 3 or 10, whatever it is, they usually know the number). Ask a marketer what his click through rates on emails are, and again, he will know (maybe 4-5% of successful sends). But ask them how many names they need to add to their 'engine' next month, and how many deals need to close that month, and you'll probably get a "good question" response. Ask them to give you conversion rate by stage in funnel, and they'll blink and READ MORE