Does your B2B company have a plan for strategic revenue growth that is predictable, scalable, and repeatable? The fact is that most companies fail to address these fundamental tenets.
By default, owners and managers hope that over time, their customer base will grow, but they do not have a capital-efficient methodology or strategy to achieve it. Explore below some of the main challenges you may face.
Top Strategic Revenue Growth Challenges
You need a revenue growth plan that is predictable, efficient and consistent. Too often the plan to achieve revenue growth is either piecemeal and experimental. You want to know that your investments will lead to revenue growth and that you can have visibility into the entire revenue creation process.
You want to understand your target markets – how big is your target addressable market? What are the dynamics that will affect you positively or negatively in each market? Who are the competitors in each market and how would you stack up against each competitor? What would your strategy be to win in each market?
What are all of the use cases that can be developed for my solution or service? If I don’t understand this perhaps I am missing out on a major part of the market or new markets altogether. I need a rigorous way to map out all of the use cases for my solutions and services.
How do I understand what is important to my buyers? How important are the business challenges that I address for them? How important are my value propositions for them? If I could understand what is important to all of my potential buyers I could message, position and engage flawlessly. If I could understand how my buyer would search for and evaluate my services I could invest in the right places.
Top Marketing Challenges
How do I know that my marketing investments are translating into sales and revenue for our company?
What key metrics do I need to measure to evaluate how decision makers in my target audiences become customers? How can I rank all of my choices so that I only invest in the top programs or campaigns that produce the highest ROI?
Today is all about content marketing to my buyers. How do I create the optimal, provocative offers that my buyer wants? How do I evaluate which offers will best engage my target audience? What offers will translate interest into engagement? What offers will convert prospects into customers?
I need the ability to create significant demand for our services and solutions. Sales Executives and Partners are a significant investment for our company and I need to provide to them the quality and quantity of sales leads in order for them to be productive, efficient and generate the sales that we require.
CSO Insights has found that 46% of Sales Executive Missed their Quota. I need to ensure that we have the opportunities for my talented sales team.
I get thousands of visitors to our website every month but they are not converting into prospects. The Corporate Executive Board (CEB) found that 57% of the sales cycle is completed by the time the prospect engages a sales executive. I need to ensure that our website educates, engages and accelerates the buying process for our target audiences.
According to a recent study, 73% of B2B Leads are not Sales Ready. I need to ensure that I have the offers and resources to convert valuable leads into sales opportunities.
The Engagement and Sales Process is expensive. I need to ensure that I have equipped and enabled my Sales Team with all of the sales tools and conversion offers to help convert our prospects from one stage to the next until they become valued customers.
Top Sales Challenges
According to Forrester Research it takes 7 months to onboard an enterprise sales executive and get them productive. I need to onboard our Sales Executives and get them to full productivity in a fraction of that time. I need to ensure that they can implement and support the best practices for our company and customers.
I need the ability to truly engineer strategic revenue growth for my company so that I can make it predictable. I need the ability to provide visibility into the revenue creation process for the next several quarters so that I can project and forecast these outcomes for all of our stakeholders.
Our Sales Cycles are Too Long. This adversely affects our profitability associated with each sale and for our company. I need proven ways to accelerate our sales cycle and eliminate any friction that slows this process with our buyer.
I need the ability to significantly improve the performance and results of our sales team. If I can do this I do not have to go through the expensive and disruptive steps of turning over nonperformers. I need to eliminate any inhibitors to sales success for my sales team and partners.
Top Business Development Challenges
Across the industry, I know that many channel partners do not produce the anticipated sales or revenue even though there is a significant cost to onboard and train them. I need the ability to identify and select better partners that will help us drive strategic revenue growth.
To maintain our desired strategic revenue growth rate, I need to expand into new markets with enough understanding to avoid costly mistakes. I need to plan and execute in a way that is cost-efficient and with the least amount of guesswork.
We have the ability to innovate and launch new solutions and services but we are not getting the anticipated revenue associated with this investment. I need to increase our wallet share with my existing customers and new prospects.
