Generally companies that have had success in sales want to know if they should be doing more to reach their potential as an organization with a sales focus. How does a company looking to diversify their sales approach know they will be successful in doing so?
Since we are in the business of revenue generation, we have the fortune of representing a vast array of great partners, and have seen gamut of these types of scenarios.
If your company’s sales strategy has the potential to evolve, an examination of the current revenue generation efforts will paint the picture. Simply put, what are all the ways, or sales channels, you reach your typical customer?
The gaps or overlaps between your sales channels are key indicators of opportunity for sales-focused growth.
Consider this visual, there are several sales opportunities available for your company to capture, nurture, and close. So you place some channels to open the top of the funnel and begin working them.
An assessment of channels will show you if you have gaps in between or highly desired overlap.
Assessing your outreach efforts, or sales channels, is crucial to future revenue performance. We find that sales efforts typically consist of 1-3 channels that include field sales and an inbound sales channel.
Typically, we see an intent to develop other methodologies, such as outbound, but a company’s focus is still on the established channels tied to the marketing dollars. The hurdles to establishing new channels (budget, ownership, acceptance of risk, MGMT and time to ramp + ROI) are often verbally acknowledged on the front end, but as time goes on, focus lacks, and pressure from various angles to produce return and lower cost of acquisition increases, companies often do not succeed at developing new channels in-house.
We typically see companies interested in our expertise following one of three scenarios:
- The company is getting ahead of the curve by establishing additional channels now so they will be growing and flourishing later
- There is a deficiency in performance within established channels
- There is a known deficiency in the number of channels
One of the biggest challenges in sustaining Sales Teams is ensuring a natural, healthy overlap reaching the customer base. Overlap ensures that the different types of customer responses are being captured.
While hand raisers respond to marketing efforts, the cost to acquire is always a challenge. Those that respond to an in-person interaction are great for field agents. In a world of fingertip conveniences, we recommend a tailored approach of outbound efforts to capture those within the prospect base that prefer the efficiency of direct conversation to initiate and guide the prospect through products or services.
Will conflict occur with overlap? Of course it will! That’s how you know the designed intent of overlapping channels is working. But a healthy overlap between channels reduces the chances of opportunities slipping through the cracks, and gives your prospect the opportunity to choose the channel they are most comfortable with.
You want to know that a prospect within your base has had your company presented in multiple approaches. An individual sales agent may not think the conflict in his or her channel is a good thing, but with simple rules of ownership established, it’s a small price to pay for the knowledge that a company is doing all it can to reach its prospects.