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Exxel International > Services > Revenue Generation > Major Accounts

 

 

 

 

In this document

The 2 Keys

50%+ growth

Revenue Accelerator

Major Accounts

Results Achieved

 

Related Documents

How can you test your Revenue Formula for less than $500?

 

The Revenue Formula that Investors want to See.

 

 

 

2 Keys to 50%+ Major Account revenue growth without increasing budgets

Does your company sell to major accounts?

     Be honest.  Your sales people don’t get enough qualified, actively interested leads. Do they?

     Are you ‘forcing them to make cold calls?’  Ouch.

     Most companies can at least Double qualified leads and initial appointments per marketing dollar*  using current budgets to implement the Revenue Accelerator process with Exxel.

 

 

The classic  Sales Funnel

 

Initial Awareness

  Initial Interest

    Active Interest

       Investigation

          Evaluation

              

 

                       Close

 

 

More Active Interest = More Revenue

 

If your major account sales people had more Actively Interested, Decision Maker Prospects wanting an Initial Appointment, revenue would likely increase proportionately.

 

 

 

The 2 Keys for major account revenue growth are:

1. Initial Interest, measured as qualified Leads, and

2. Active Interest, as Initial Appointments.

     With more Actively Interested, Decision Maker Prospects wanting an Initial Appointment, revenue would likely increase proportionately.

 

Whether it a $5,000 product you sell or a $500,000 solution, the early part of the sales cycle requires the same elements, the same skills and process. You want to generate active interest with qualified decision makers, by generating leads and appointments.

 

Best practices can almost always at least double leads and appointments per budget dollar.

Best practices can almost always at least double leads and appointments per budget dollar. Even moving from typical performance to the lesser standard of what we label ‘effective performance’ can usually cause at least half of the improvement.

 

As an option, to further increase the effectiveness measures per marketing dollar,

(* including telemarketing which should perhaps be in Sales), consider implementing a loose case-by-case alliance with non-competing, respected companies that serve needs closely related to the needs your company serves. Doing so can achieve high economy of scale for audience reach and for the size of audience where awareness is stimulated beyond what even a very large competitor could achieve. “Marketing alliances can deliver Economy of Scale” is a subject for another document.

 

An Exxel ‘Guarantee’: Your Qualified Leads and Initial Appointments must increase by at least 50% per budget dollar.

If not, then Exxel International’s compensation goes way down. Often, we can take a high portion of the risk for any campaign, risking more than our compensation. Ask about it.

“The sales people generate their own leads.”

If you sell to Major Accounts, you know the skills and experience needed. To generate qualified, actively interested leads is very different from the skills needed to succeed as a large opportunity salesperson. If ‘the sales people generate their own leads’ and if they also get results as well as those who specialize, then the cost per hour of Sales Execs is higher than Appointment Setters.  The likely impact of a large volume of cold calls on a Sales Exec’s motivation and productivity is not positive.

 

The Initial Appointment itself is what to sell. The inside sales Appointment Setter can tell the prospect about how great the knowledge is of the Sales Exec.

 

Create a fully implemented Revenue Accelerator internally at your company. Generate forecast-able, scalable revenue.

 

Start by bootstrapping, improving results immediately. No budget increase is needed.

Start by bootstrapping. No budget increase is needed. Perhaps a portion of a scheduled marketing campaign’s budget can be used. Begin by immediately improving results. Then implement other portions of the Revenue Accelerator process when doing so fits priorities.

 

A fully implemented Revenue Accelerator is a highly cost efficient process to generate initial interest and active interest (fits here within the overall sales cycle and) should have the following elements.

 

1. Measurement and Systems: Strong, constantly evolving, secure systems for measurement, campaign implementation, un-invasive sales follow-up and integration with CRM systems in use like Siebal, Goldmine, Act and SalesForce.

2. Skills and Orientation: Direct response creative and implementation are at the core of what improves results. Get the best feasible skill level. Seldom is it practical to have the skill level needed internally.  Telemarketing design skills and knowledgeable, effective telemarketers who represent your ethics have an equally important impact on appointment setting or active interest generating effectiveness.

3. Low Audience Costs: low cost access to well targeted audiences and names. The methods used are numerous and include magazine inserts, bundling with shipments by other companies, and careful and controlled trading of list usage.

4. Increased Offer Power: the opportunity to make offers that could not be sustained without a significant change in attitude is usually far more effective per dollar of marketing money in the stimulating of qualified, active leads. The ‘change in attitude’ required is to focus on what the qualified prospect is likely to want right now not on what they may be willing to purchase further into their process.

5. Additional Marketing Economies: Whether by inexpensively hiring respected freelance writers, by sponsoring an event or by participating in existing marketing alliances there are many ways to further improve measurable results and revenue per marketing dollar.

 

 

Major Account Penetration

Making a large sale takes orchestration. It requires a range of experience and talents to manage a sales cycle and to close a large sale. The talents and experience, direct marketing skills, needed to generate Initial Interest are very different. Even generating Active Interest requires a different attitude and focus. If it did not, we’d see more large account sales people regularly making a volume of cold calls – at more than double the cost per call that should be incurred.

With the Exxel Revenue Accelerator, you’ll get a fixed price with guarantees and measurements to improve or create a clonable systematic, measured, constantly evolving process for generating Initial Interest and, or Active Interest.

Where in the Sales Cycle is the work targeted?

“Getting interest going” is a simple way to describe it. Create the right ‘magnets’ and present it appropriately and you will draw to you a high portion of those actively in the market.

 

Initial Awareness – advertising, press relations

     Initial Interest – usually a desire to be educated

         Active Interest –  your category is a likely fit

              Investigation – learning continues. Alternatives are identified.

                   Evaluation  -- criteria and decision process establish

                        Budget & Finalists – get serious – involve the “higher ups”

 

                             … process continues to Closing and Implementation

 

The offerings from the Exxel Revenue Accelerator are in brown above and relate to the early steps of developing interest with emphasis on generating actively interested, well qualified prospects who major accounts sales people will want to call promptly.

 

The sales hunters needed to sell new accounts and the account executives needed to ‘cultivate the account’ usually are not very effective at the ‘top of the funnel,’ where initial active interest starts. If they are deployed to make initial contacts then the cost per success is usually very high.  Where an effective major opportunity person may earn $120,000 or $150,000 at quota, a well polished Appointment Setter you’d be proud of makes $60,000. Such a person enjoys making the cold calls. Of course Appointment Setters make more calls per hour than a Sales Exec and has better ratios of calls made to calls that succeed. Of course, the Sales Exec gives a Do Not Call List to the Appointment Setter.

 

Typical Improvements

Total your advertising and marketing costs. Divide by the number of leads that sales people do or should be calling. Before effective process, a much lower standard than best practices, is in place, a cost per lead of over $100 and $200 is typical. With effective process, cost typically comes down to about $30. In addition, the amount known about each lead increases.

 

The Revenue Growth Process becomes Forecast-able and Scalable

How? For Major Account penetration, cold calling and emailing to targeted lists creates the Forecast-able Revenue. Once the Appointment Setting process is at reasonable cost, probe large list segments. See how the Cost per Appointment changes. $150 cost is typically affordable.  When you have 10 or 15 Initial Appointment from a List Segment, then make a Forecast, an estimate. An example of a List Segment is VP Finance at Technology Companies with revenue $50 million to $500 million that are Local. Continue with three or four List Segments. The Learning Curve for the Sales Execs will speed up when they have more Initial Appointments. The Sales Execs ratio of Initial Appointments to Opportunities Closed might over a 6 month period improve from 1 out of 30 to 1 out of 12. During the same period the Learning Curve for Appointment Setting will continue to lower that cost.

 

With best practices, the cost per lead goes down further when still targeting the existing, core audience. Costs per lead of $12 or less could become typical in strong List Segments.

 

Increasing the size of the audience addressed, and mined, becomes practical. Keep experimenting. Accept lead costs that are break-even, perhaps $70 as an example. How?  Try different lists and advertising. It is in this increased reach that major revenue increases often become practical.

 

Per Initial Appointment you can calculate a cost in a manner similar to cost per lead. Effective process and then best practices again have a major impact.

 

Per 100 qualified people who pick up the phone, what per cent listen and interact for 1 minute or longer? Changing that ratio from 10% to 40% and then 60% is often practical.

 

At IBM we were taught. Here is a portion: the First name is the most powerful Attention getter. IBM’s Steps are: 1. Attention, 2. Rapport, 3. Benefit. Your Initial Benefit Statement must be strong, clear and related to the near term. The near term benefit is important, not just the longer term when a sale occurs.

 

Of those who talk for 1 minute or longer, what portion eventually agrees to an initial appointment? That has a lot to do with the perceived value of the initial appointment itself. Improving both what is offered and the overall capabilities of the telemarketer can usually at least improve the ratio by 100%.

 

What might now be 2 appointments per work week can become 10 or 15.

 

The elements of your Revenue Accelerator

How are improvements generated?

 

Ø      Talented People inside and outside: Attract and support both the best talent using both key freelance and full time positions. As your company grows, find a couple of very smart, jack-of-all-trades people. Use them when a key position goes empty to fill most any gap left by or not assigned to others.

Ø      Improved processing of: Lists, List Negotiations, CRM integration, Lead Follow-Up 

Ø      Strong Measurement with related Forecasting, always run A/B splits. Quickly cut losers, by knowing your build-up curves. Re-run and expand you’re your winners. Measurement should occur automatically, without effort, in the background for each step in the process leading to and concluding with Initial Appointments.

Ø      Strong Offers – using the best feasible talent – refine the process using feedback – measure and compare offers and offer derivatives. Consider use of offer-refinement technology which allows iteration once an hour on average with an audience of up to 500, declaring preferences – among Headlines, Banner Ads, Full Page Print Ads, Value Propositions and whatever can have many, many derivatives.

 

 

 

In this document

The 2 Keys

50%+ growth

Revenue Accelerator

Major Accounts

Results Achieved

 

Related Documents

How can you test your Revenue Formula for less than $500?

 

The Revenue Formula that Investors want to See.

 

 

Ø      Strong Content and Involvement. Whether in the writing and graphics or with scripts to support  phone interaction, the prospect needs to receive solid value during each step of the process. And that value needs to be constantly measured.

Ø      Evolving Content. The content should both increase and also shift in emphasis as market preferences shift and as it becomes economic to serve increasingly small subsets of the audience.

Ø      Incentive and the Right Skills and the right role. Under-qualified and over-qualified both cause problems, problems of motivation, productivity and cost per hour.

Ø      Integration with Strategy & Tactics. Ask questions. Most importantly, what do the sales people want? How can the awareness generation objectives be supported? Can product planning data be gathered as part of the process? What resources externally and internally can help to accomplish the objectives?

 

 

 

You can increase revenue without outside capital or additional budgets. Share ideas. What might work for your company?  Call Exxel International to explore.

 

 

 

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