Do you have “Post Turtle Marketing”?…if so its preventing you from achieving sales goals

 

 

marketing post turtle

 

 

In my last blog post I shared advice on what to do if you report to a “post turtle sales manager”. We run the risk however of hiring people, promoting them and placing them in key positions without skill, knowledge or training in every area. One of the most dangerous areas to have a post turtle is marketing. In this post I will share what salespeople must do if they find they have “post turtle’s running marketing”. If you find you work in an organization that has post turtle marketing this blog is for you.

 

In today’s business climate it is one of rapid change. It should not surprise us as more and more information is available on the internet and as much as 70% of the buying process is done before the buyer calls a sales person. The trouble a number of sales teams face is having post turtle marketing support. The marketing team, if they have one, is comprised of people who are excellent at creating sell sheets, are proficient at negotiating ad costs, media buys, and purchasing logo coffee mugs and t shirts but lack an understanding or appreciation of how your buyers are buying today. They probably grew up through the ranks in your organization and seemed to have a proficiency in copy writing, maybe creative, and were awesome at creating excel spread sheets with customer names and executing mass mailings flawlessly. They insured your trade show booth arrived on time an in their defense this is what most companies thought marketing was. For many organizations this is what they thought marketing was, but today it is much, much more.

 

What is marketing?

 

Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. (marketingpower.com)

 

“Because the purpose of business is to create a customer, the business enterprise has two–and only two–basic functions: marketing and innovation. Marketing and innovation produce results; all the rest are costs. Marketing is the distinguishing, unique function of the business.” ( Peter Drucker on Marketing)

 

Marketing is the process of communicating the value of a product or service to customers, for the purpose of selling the product or service. It is a critical business function for attracting customers. (Wikipedia)

 

Positioning; “an organized system for finding a window in the mind. It is based on the concept that communication can only take place at the right time and under the right circumstances” (Positioning; The Battle for your mind)

 

First, it’s marketing’s responsibility to see that everyone is playing the same tune in unison. Second, it’s marketing’s assignment to turn that tune or differentiating idea into what we call a coherent marketing direction. ( Jack Trout)

 

Marketing is the name we use to describe the promises a company makes, the story it tells, the authentic way it delivers on that promise. – (http://www.thedefinitionofmarketing.com )

 

…interesting, nowhere does it say design t shirts and coffee mugs with company logos or book ads in trade publications?

 

The market we serve today is dynamic and changing.

 

How do I define “Marketing”?

 

The fundamental responsibility of marketing is; to understand your market, its buyers, their buying process and criteria. Once you have a thorough understanding position your product and or service in the minds of buyers in your market based on the problems you solve for them”  ( Mark Allen Roberts)

 

What do we know?

 

We live in an Age of Digital Darwinism We are all super busy and If you can be dispensed of you will.

 

50% of leads are qualified but not ready to buy (Hubspot)

 

87% of B2B buyers said content plays a major role in vendor selection.

 

Companies that excel at lead nurturing generate 50% more sales ready leads at a 33% lower cost. (Forester Research)

 

79% of leads are not converted to a sale because they are not nurtured along.

 

Assuming you agree with the above and you too have noticed a shift, a change in the market, what is a salesperson to do?…Adapt!

 

There are a number of very good marketing automation companies;

 

Hubspot

 

Marketo

 

Infusionsoft

 

Eloqua

 

Make sure you review each and find one that best serves your company, the size of your company and interfaces with your CRM.

 

 

Sales today is not about spending a lot of windshield time as much as lap top time.

 

Sales today is not about working more hours, working harder, it’s about leveraging technology and your market knowledge to work smarter.

 

Success in sales today is about nurturing your leads until they are ready to buy and if marketing is not doing it you must to survive.

 

Hitting and surpassing your sales goals today is about helping customers find you with brilliant marketing communication that shares the problems you solve for your buyers in the buyer’s language.

 

For years sales teams have been told to; just make it happen. Sales super stars are good at figuring out what we have to work with, creating our own tools as needed and making it happen. If you have post turtle marketing it is not helping you connect with buyers who are looking for you right now. As the “just make it happen folks” we need to take it upon ourselves to learn how our buyers are buying, the criteria they are using to make buying decisions and to be where they are looking. We must embrace the tools, studies and technology available and implement it to better serve the markets we are responsible for.

 

The salesperson of the future will embrace technology and leverage its capability to create sales velocity working smarter not harder.

 

What about your company?

 

Do you think marketing is about coffee mugs and t shirts?

 

Classical marketing teaches never let sales create their own sales tools, but if marketing won’t or can’t, what should they do? What are the risks if they do?

 

In closing I want to say that if your marketing department is still caught up in thinking their main job is creating sell sheets, trade show booths and a line of company logo clothing to build brand awareness it is not that they are bad people, or not adding any value. Someone needs to do those product and branding things. However they like sales need and must adapt. I had a preacher once say something that really rocked my boat and it applied here as well…” if you want to see where someone’s priorities lie, open their check book.” If we opened your companies’ marketing checkbook where does your marketing spend its budgets? This will be one of best indicators if the person running your marketing department today is a post turtle. The good news is there is no better day to change than today.

As salespeople, we are paid to make it happen hit our numbers. We are not perfect by any means, however to not use what we know about how buying today and adapting to better serve them is like hunting an elephant with a BB gun. You might feel good you are busy, but your odds of success are nil (and so will be your sales commissions). What I am sharing is marketing’s job make no mistake. However, if your marketing is not doing it, you must until they adapt. After all you are judged by your sales numbers, your results. For years you have figured it out and made it happen. Use that same pioneer drive and embrace how buyers are buying today and the technology available to improve your results.

“Lead to Close Percentage”, The Canary in Your Coal Mine for Sales Forecasting

knowing your lead to close percentage is key to improving sales

knowing your lead to close percentage is key to improving sales

If you want to get CEO’s talking, one of the hot topics is what I have referred to earlier is the “Great Disconnect” as it relates to sales execution. Some common burning problems that CEO’s often share with me on their drive home at night are about their frustration with regards to sales performance…

Why is sales an art and not a science in their organization given all the technology available today?

 

How can I get my sales team to operate like my plant?… more manageable, more predictable?

 

 

How can I tell quickly and early enough that my salespeople will or won’t hit their sales goals each month?

 

How can we drive the variability of sales forecasting out of our current sales forecasting process?

 

How can we get a greater return on marketing dollars invested?

 

The question I use that often makes the phone call grow quiet with that all too familiar pregnant pause is: What is your team’s “lead to close percentage”? Your lead to close percentage is the canary in your coal mine of sales and acts as an early predictor of future sales performance. When you ask salespeople how to grow their sales they will say; I need more leads. The reality is you do not need more leads you need to improve your lead to close percentage on all the leads you already have.

 

My grandfather grew up in West Virginia and his father like many men back then was a coal miner in addition to having the family farm. My grandfather used to share with me how miners would bring canaries down into the coal mines as they were a quick early warning sign that there were toxic unhealthy gases seeping into the mine and they needed to leave the mine quickly. Canaries are particularly susceptible to toxic gases like carbon monoxide and methane found in the stale air of mines back then. The life of a canary in a coal mine was often short but meaningful. Your lead to close percentage indicator is the canary in your sales mine.

 

So what is the “canary in your coal mine of sales”?

 

Your “lead to close percentage” is one of the best indicators of future sales performance.

 

57% of companies in a study indicated converting qualified leads into paying customers as their top funnel priority (Marketing Sherpa)

 

50% of leads qualified but not yet ready to buy (Hubspot)

 

Do you know your “lead to close percentage” for your sales team? …for each salesperson?

 

It is difficult to manage, fine tune, and improve something until you make it a Key Performance Indicator that you track. Once you start tracking your lead to close percentage for your team and each salesperson you will quickly be on a path to taking the frustrating variability out of your sales forecasting process.

 

In my next post I will share specific ways to improve your lead to close % one you have agreed to make it a key performance indicator your sales team will track and report on.

You Do Not Need “More Leads”…

Having led sales teams for over 25 years I have heard salespeople frequently say  …”If I only had more leads I could…” They say they could close more sales, sell more new products, and become more important to their distributor network…and so on. Like a carpenter with only a hammer, the solution is to just nail more leads. The trouble is the quickest way to improve revenues is not more leads.

What you need to do to quickly impact the bottom line is improve your sales close percentage with the leads you already receive.

Market leaders clearly understand the buying process and buying criteria.

Market leaders create sales tools to help their sales teams close a greater percentage of sales leads and create sales velocity.

Market losers play “extrapolation exasperation …if their team closes two sales out of ten leads, and they need to close six new accounts…its simple: we need more leads (30 or so)

You have already made the investment in marketing to drive the clicks…why not improve your team’s ability to turn clicks to customers?

Leads,… Tire-kickers…, and Prospects…Oh my!

 

 

Nothing can throw a monkey wrench into the alignment of sales and marketing efforts like the lack of common terms we use all the time like ; “leads” , “inquires” and “prospects” .

Nothing drives team members back to the safety of their silo’s of ;” I did my job” quicker than a lack of common language when it comes to what everyone refers to as “ leads”.

We also see frustration that results in tarnished relationships when the manufacturer / supplier lack a common lead language with his or her channel partners, dealers, and distributors.

So to set the record straight I want to share what I have always taught my sales and marketing teams that reported to me over the years as well as my clients’ teams.

 

 

Leads

 

Simply put a lead is someone who has raised their hand, and basically expressed the following;

  • I have a problem
  • I think your product or service can solve my problem
  • I have the ability to pay for your solution if it truly can solve my problem

 

A lead therefore is someone qualified to have a problem your product solves, they want the problem fixed, and they have the money to pay for it, or a way to pay for it.

 

 

Inquires (tire- kickers)

Inquires are people who have expressed an interest in your product. What we used to call “tire- kickers” back in the day. These are folks who walk by your booth like they were trick or treating and fill their show bag full of brochures. Or they surf the web in areas of interest and reach out (like a virtual trade show) and ask for brochures to be sent to them.

  • they may or may not have a problem your product or service solves
  • they are not sure if your product can help them , but they are interested in learning more
  • they may or may not know the cost of your product or service
  • they may or may not have the ability to pay for your product
  • they are curious and may be shopping for a solution or just information for themselves and or someone else

 

They basically walked by, surfed by… and said; “cool…tell me more”. They did not say; “great, I want one, where do I send the check?”

 

Prospects

 

Prospects are those folks out there in your market that your product or service could help. Some know they have a problem that needs a solution, and some may not. Some may not even see the condition (problem) you solve as a problem, but just one more thing they have to live with.

  • they may be aware they have a problem , or may not
  • they may know your company and have a perception regarding your products and services and the problems they solve, or they may not
  • they may have a perceived cost to fix their problems in mind, or they may not
  • they do not currently buy from you , and they may be buying alternative solutions

 

Prospects often represent over 70% of any market and are often great resources for market information and determining unresolved problems as they discuss in the book Tuned In.

As you can imagine many discussions end in frustration that begin with; “I sent you 122 leads last week and you have not closed any of them.” Really? Were they truly “leads”, or were they “tire kickers” or were they simply “prospects”?

The key is Market leaders must develop a common understanding, a common language to insure relationship within their teams grow. If you work with a manufacturer who sends you “leads” or you are the manufacturer who sends “leads “ to channel partners you must define what this term means and the corresponding expectation.

If you are a Market leader, and your sales are a science and not an art, you understand the buyer, buying process and can clearly communicate the expectations of leads and inquires.

If you work with (for) a market loser, every inquiry that “fogs a contact us form” is a lead and is a potential sale you failed to close.

Market losers spend more time trying to; “Hold people accountable” ….their salespeople, their dealers, their channel partners and so on when they should be spending that time gaining an understanding of your buyers.

If you do not like my definitions it does not hurt my feelings. What is key is to clearly state what the terms thrown around in meetings truly mean and get everyone on the same page. Once you have a common language, you can work on building a perceived expectation for each term.

A common language is critical to clearly articulate where a buyer is in the buying process. A common language insures you, your partners, suppliers, and your salespeople have the right tools in place to keep the conversation moving to the next phase of the buying process so you can eventually close.

How about your team…do you have clearly defined definitions of the words like; Leads, inquires, and prospects?

 

Do you and your suppliers, your distributors have a common language?

 

Do you have a Market Loser calling you wanting to know why you have not closed “leads” when in reality they were just “inquires”?

I would value you sharing how your team defines a lead, inquiry, and or prospect.