Download: Gaining Marketing Traction
Achieving sustained revenue growth is not easy. In his book titled Traction, Steve Browne discusses how innovators, can achieve sustained revenue growth. The ideas discussed in the book are instrumental for a startup, to realise sustainable growth. To gain traction.
In going through the book, the significance being placed on the marketing effort is hard to miss. If there is one area that is essential to realising sustained growth, it is success in marketing. Particularly by using targeted marketing techniques.
There is also a need to set up and refine marketing experiments. You have to go out and experiment with different marketing approaches. You might want to try out networking, cold calling, social media, and search, or a dozen other marketing approaches, that may be available to you. The truth of the matter is that, you will never know what works, or what doesn’t until you give it a try.
It is also essential to put in place a disciplined sales process, that allows for consistency and reliability of results. It is important to track each sale as it goes through the process of leads turning into clients, and all the stages in between. The sales process has to have a forecasting mechanism built into it, so that you can reliably estimate your revenue stream.
Not all leads that appear in front of your business are going to pan out. You should therefore learn to tell when leads are going to amount to anything, and therefore spend your valuable time on only those leads which are likely to convert into a sale.
Steve Browne advocates asking three questions to qualify a sales lead. Why should the customer buy anything? Why should they buy from you? and Why should they buy now?
The importance of having this question answered, when qualifying a sales lead lies in the fact that customers commit to your product when the product solves a real problem they are having.
Your approach should therefore be to find a suitable fit between the needs of the customer, and the solution you are providing. In answering this question, your solution should add value for the customer.
Answering this question addresses the uniqueness of your brand and your solution. Your product should be well differentiated from the competition, such that your customers choose your solution over that of competitors.
If your product is well differentiated from that of your competitors, your customers will have less of a reason to seek out an alternative, to what you are offering and stick with you.
This question deals with the urgency with which your leads are willing to commit to a sale. Are they planning to go through with the sale right now, in three months, six months or more?
It is important to answer this question because, the longer it takes to close a deal, the less likely it is that it will go through successfully, and you will not be in a good position to forecast when the sale will happen.
In order to gain marketing traction, you have to make sure that your marketing strategy is on point, along with your sales process. Your marketing approach has to be targeted enough, so that you do not waste time and effort, on wasted marketing activities. It is also important to ensure that you are providing value, and can adequately differentiate yourself from the competition.
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