Authority

Why Build Authority Positioning in Your Niche?

Ok, you have built a kickass cloud management, optimization platform. Or you have just built an AI widget with APIs that can connect with gazillion apps.

Now, who knows you in the cloud or AI industry?

Have you established your presence at least in your target market?

If you are not systematically and methodically establishing yourself as an authority, at least in your target market, you are ignoring the true power behind the marketplace. This is the axiom behind authority marketing.

As a technopreneur, if your firm is not able to sharply differentiate itself from others around you, you are just another company in the mix.

But if you do, then you are on your way to becoming an authority in your niche or chosen field.

An authority has all the knowledge stored away. An authority who disperses his or her knowledge in a way that people rely on and seek is a celebrity.

Authority positioning affords your business to leverage its experience to gain an elevated expert status within the specialized confines of their industry. You become an educator and advocate for the success of those who rely on you;

then, your audience can find (and trust) you.

 

Fast-Tracking Your Authority

Strategies used to optimize your position as an expert celebrity include highlighting local (or regional) press, writing books and other authoritative and informative materials, and distributing your writing so that it becomes widely available.

You must provide your target audience with so much content and proof, showing that you understand and empathize with their needs, so that you are the only choice in their minds. This could be done by being interviewed on podcasts your target audience listens to, or even starting your own podcast so you can open huge doors of opportunity for your business by interviewing influencers in your industry.

For example, one of my clients, for whom I’ve helped position a youtube strategy, has told me that their youtube is now syndicated on different platforms, increasing its exposure. My client also uses the platform to approach prospects with the ask to interview them, opening the door for future conversations about my client’s expert services.

 

Think about this: If you were looking for a Digital firm to help your business get closer to cosmetics users who are predominantly teenage girls, how would you make your decision?

With the first Digital company, you meet them at your local tech group and think they pretty friendly, at least from what you can see in early morning networking meetings!

With the second Digital firm, you notice they were recently featured in your local chamber of commerce retail summit, wrote a popular ebook on how to structure user experience (UX) for omnichannel retail consumers and has a weekly podcast you listen to about recent developments in retail technology.

Who would you choose?

Both may do a fabulous job, but we are all so busy that we tend to make decisions based on who seems to be the most qualified, and this is tied to visibility. In fact, the accountant who has established himself as an authority has vastly improved his “perceived value” in the marketplace.

 

Placement And Positioning

In the real world of business, I have found that respect comes not from media savviness but from the ability to make your knowledge into something useful for others. The primary way business owners can generate widespread respect for their authority is through understanding the technology and methods they work with and generating solutions from them.

Being able to generate and distribute applications for what you know will garner substantial unassailable value.

Authoritative entrepreneurs must display not only a tolerance but a thirst for change. When others are unsure of their response to change, the authoritative business owner must maintain a consistent viewpoint that portrays a protocol in place to allow change to be integrated into the business.

Look for ways to document your knowledge. It may be recording your thoughts with your phone about a specific problem you recently solved for a client. Guess what you can do with that?

Transcribe the recording and repurpose it into a blog post, your next email update to your clients, a social media post — the list goes on! See how easy this can be? But the first step is getting started and deciding to keep it up, even if it’s only once a month!

Remember: Building your authority should be your No. 1 priority.

Go to Market

How to keep Go To Market Strategy simple?

I have been observing and working with company companies on how they take their product or service to market. While most have it right to a certain extent a lot can be done to make GTM slick, precise, high yielding and cost-effective.

This one diagram says it all.

Now assuming that you are not a startup and you have a product or solution that has been commercialized and is available to the public, your company can amplify one of these two areas: Sales and Marketing.
When I am working with a $20M revenue company, I still see CEOs make a mistake in not use the right GTM strategy to drive revenue. For example, hiring a high-touch, expensive sales force to sell a low-priced product can be disastrous. After this misstep, an otherwise high-potential company may fail to grow fast enough to compete or reach profitability.
Here is another chart to show more attributes that can decide your GTM strategy.

P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :

1.   Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

2.   Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3.    Join our Techcelerate Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action now and grow. Best Wishes.

8 Tech Firm Marketing Activities To Do Every Day

Technology firms marketing is now an umbrella term that encompasses a whole bunch of actions. It’s important to note that the “run-of-the-mill” marketing activities that work for any old business aren’t necessarily going to be the best fit for technology firms, however. What’s more, some technology firm marketing activities are going to be more worthwhile than others depending on your immediate goals.

Before You Get Started: Assess Your Tech Firm’s Objectives

Technology firm marketing should be executed based on what you’re trying to get the prospective client to do next.

Do they need to know simply that your business exists, or why you’re the best tech business in your domain area for them? You could even be at the point where you need the client to officially agree to working together. Here are quick summaries of common tech firm marketing objectives that technopreneurs face all the time:

  • Building Authority: Make sure prospects know you are different from other tech firms next door by presenting your point of view on both your domain area and common client issues.
  • Establishing Trust: Allow prospective clients to get to know your personal tech brand by making an introduction and revealing your personality and values.
  • Demonstrating Capabilities: Help clients realize your specialty tech areas and reassure them that you truly solve problems for your clients, in their business.
  • Asking for Referrals: Keep the business coming by asking your established, ideal clients to introduce you to other people just like them.

Depending on the maturity of your tech firm marketing strategy, you may be in a position where you need to work on all of these things at once, or just focus on a couple of areas in particular. For each of these objectives, there are some ideal marketing activities (that you can do every day, of course) that will strengthen your overall chances of success.

 

Tech Firm Marketing Activities for Meeting Your Business Objectives

Building Authority

authority-law-firm-marketing.jpg

Publish Regularly

If you want to prospective clients to identify you as the tech “expert of choice,” you’ll need to show off a little. Write down your point of view on hot technology and domain issues of the day and transfer that to a digital medium. It’s a great idea to get a blog started on your tech firm’s website, but even if you don’t have one, using LinkedIn Publishing tools is a great way to broadcast your tech business knowledge.

If writing for tech firm marketing isn’t your strong suit, try finding your voice by reading tech journals and blogs. You will get an idea.

Give prospective clients that have agreed to communications links that go directly to your resources. That way, you have more control over whether you’re reaching the right people instead of hoping that they’ll stumble across you. Just be sure to keep your contacts organized by the practice areas and topics that are most applicable to their needs.

Read More

Why Technoprenuers should focus on creating business value?

‘By now, we all know about the “merger of equals,” where Cloudera is acquiring Hortonworks to form the big ‘big data’ technology company. The deal signifies that the Hadoop market could no longer sustain two big competitors. Hadoop has been synonymous with big data for years, but the market — and customer needs — have moved on.

Companies of all sizes are increasing their adoption of AWS, Azure, and Google Cloud services at the expense of on-premises infrastructure and software. This is a no-brainer.

So what’s the lesson for technopreneurs in here?

While it is good to build your technology practices (with changing trends and times), it is far more important to solve customer problems and create business value.

At the end of day, selling to your customer means conveying what they value, not how cool your tech is

For starters let’s define what both business and technical value look like?

 

Technical value: This is the value built into the technical implementation of whatever solution you offer by the engineers in your organization. The complexity of solutions and advanced technology add value. Simpler implementations and common technology reduce the value. 

 

Business value: This is the value extracted from your solution by the customer to run their business. This is the WHY of your whole solution – why the customer would want to use it in the first place. Usually, this value can be measured in terms of revenue, growth, reduction of complexity in business systems, saving of time and simpler transactions – things that help your customer improve their business

 

Most Technopreneurs I meet are either a technical CEO who have a scientific or engineering bent themselves. Although they’re obviously aware of the need to win customers and grow the business, sometimes the temptation of a big juicy technical problem to solve with a stable of engineers is just too much.

I’ve seen many business leaders go from a state of boredom to full-on orgasmic glee in an instant when I ask about the latest thing they are working on.

Typical ‘shiny new object syndrome’.

When developing and selling value for your customers, use the constraints and rules of creative disciplines like writing and creativity to satisfy the engineering mindset of solving problems while at the same time tapping into the human and business needs of the customer.

Solve business problems. Leverage technology. But don’t get married to it.

Good luck.

 

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P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :

1.  Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

2.  Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3   Join our Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action and grow. Best Wishes.

12 Accelerators

The 12 Accelerators: How To Scale Your Tech Business Fast?

I want to teach you the model that helps us scale your Technology businesses.

You could be a System Integrator, Software or Hardware OEM, Specialist Services Player (Analytics, Security, AI), IT Services or into tech business that is into a consultative selling cycle.

I don’t know how much you know about the work that we do, but our job is really simple.

We take Technology businesses with an annual run rate of USD 1M up to USD 10M and take them from $X a month and help them to get to $2X within a year. And we do it with this model right here:

More than anything in the world, I want you to have a technology business that can scale.

And what I mean by that is a Technology business that gives you more of three things.

I don’t know why you became a Technopreneur, but I’ve got a hunch that there are three things that you want.

Money

Number one, I want you to have a technology business that takes the lid off the amount of money you can —the amount of cash you can make, and income you can make from your business.

Most tech businesses are stuck or limited —the amount of money they can make mostly depends of the number of clients added, number of projects executed or number of licenses or subscriptions sold. If this is not happening, you are not making money.

So, we want to take the lid off money.

Meaning

Number two, that maximizes the amount of impact you can make.

So, in other words, that instead of making a big difference to —like 5 or 10 or 15, maybe —like, 20 clients, that you can impact hundreds of clients instead. Or you can pick and choose key clients with whom you want to do business and grow.

 

Freedom

And thirdly, the amount of freedom you can enjoy; we take the lid off that as well.

I want you to have more money, and more meaning, and more TIME freedom.

But more money, and more meaning, and more freedom are really the three things that drive me and most of our clients.

The three things I think we want more to grow your Tech business.

To get more money, more meaning, and more freedom, there are FOUR parts of your technology business that we need to focus on.

 

Attract

We need to look at the way you attract leads, the way you get them interested, the way you convert them into clients, and the way you deliver your service so you can help more clients succeed — and make more money.

Right? Here’s what happens, though.

Most technology businesses aren’t built in a way that can scale at all. Most technopreneurs don’t have a system that helps to attract prospects, get them interested, convert deals and propagate your good work.

Because they don’t, they end up with no audience or pipeline. Right?

In a little bit, as we go through the How To, I want you to kind of —to look at this not as, “Oh, this is interesting content that Mag’s teaching.” But I want you to look at your technology business through this lens.

Now, most people don’t have a way to get enough leads in. So, then, no audience. Like, world’s best-kept secret; no fun at all.

Most —so, that’s the opposite of being able to attract.

 

Interest

Once you are able to attract prospects to your domain, you need to get them interested in what you do or offer.

Without interest, you will not be able to get engage deep with your prospects. Interested prospects are curious.

They would like to know how can you solve their problems and get them to a safe place. Your prospects are inundated with choices and are facing an overwhelm. Without interest, you are not going to go too far with them in their buying cycle.

 

Convert

If you think about the convert side of your business —the way you convert prospects into clients.

Most technopreneurs don’t have a way to convert the client —prospects into clients.

They end up with a big fat cash problem called, “no sales”. Right?

No audience means your marketing is limited.

No sales mean we’re not converting prospects into clients. So, it hurts our dollars.

 

Propagate

Now that you have successfully delivered your client engagement, how can you make your client become a raving fan of what you do?

How can you ask for referrals? How can you make your client sell for you?

This something big companies have mastered. Technopreneurs are often in the dark when it comes to propagating their body of work through referrals from existing customers. You need a system to get this done.

The 12 Accelerators

What I want to do in a second is I want to share with you the twelve accelerators — the twelve projects that we use to drive a technology business and take you from where you are right now to a 2X dollars a year in the next 12 months.

We’re going to start with Attract side of the model because frankly, we’re going to generate leads and we’re going to sell stuff. We need to know what we’re going to get leads for and what we’re going to sell.

Okay? So, under Attract, there are three accelerators —three kinds of focus areas that we zoom in on in order to grow your Tech business.

 

Attract: Segment

What is your target segment? Who is in your target market?

The easiest way to think it is who do you love dealing with? Who in the past have you had good success with? Who you like working with on a day to day basis and could do for the next year or more?

So there is your target.

We can then get deeper on that, of course, and look at what keeps them up at night, what the pain is. But for now, choosing the right target market and the segment will allow you to focus, message and differentiate yourself from the competition.

 

Attract: Build authority

The second thing that helps your business to differentiate is to build authority.

Positioning yourself as an authority is critical. It affects how many referrals you get, how much clients will pay, and, when done correctly, can begin a new chapter of truly enjoying your practice.

To go from ‘Who are you?’ —best kept secret— to kind of a big deal in your space is extremely crucial.

So, we want to fill your funnel; that’s about getting leads in. And then we want to build your authority so that it’s easier to sell to the people that you’ve got —so they become quite a big deal. The more authority work we do, the easier that sales become.

 

Attract: Install automation

Again, so that you don’t have to do all of this stuff yourself. Automated just means you don’t have to do it.

So, it might be that you have a virtual assistant running some of the systems for you.

It might be that you have an active game plan campaign or Hubspot, or any other software gadget —some kind of system that you can design a campaign and just have it run for you every single week without you having to be physically involved so that marketing does what it needs to do.

When we can do those three things; Segment your market, build authority, and install automation, guess what happens?

Now, you’ve got an attraction system that is absolutely humming.

We’ve talked about the three accelerators for how you attract leads into your tech business. And in just a moment, we’re going to talk about the way you get them interested in you.

But what I’d love to know right now is if you think about these three attraction pieces, what do you need most right now?

Do you need to analyze your market and identify your target segment?

Build authority and become a bit more of a key player in the space?

Or is automation the thing that you most need?

Do us a favor and just type into the comment box, which one of those three? Leave us a comment, which one of those three do you need most right now?

Now let’s move onto the Interest side of the model.

So, under Interest, there are three accelerators —three kinds of focus areas that we zoom in on in order to grow your Tech business.

Interest: Sell with webinars

So, on the Interest side, the first thing we’re going to do is we’re going to audition clients. The second piece is to sell with webinars.

Big fan of the old webinar; done a bunch of them in my time. And frankly, it’s a little bit of a secret weapon.

There’s something magic about being able to show up on a webinar, and have a few hundred perfect prospects show up as well, teach your heart out for an hour or a little bit more, and then have them jump on your offers and say, “That was incredible, but I want more.”

That’s exactly what we want. Okay? And so, the second Interest driver that we run to grow your tech business is to sell with webinars. And that —which leads us to the second.

 

Interest: Fill your funnel

So, the second thing we need to do in the interest side is to fill your funnel.

Most technopreneurs don’t have a funnel, and if they do, it’s not full.

And so, there are two parts of that:

It’s designing out the perfect funnel to get you the leads that you need, and then turning on the traffic tab to drive people through —whether it’s to a webinar or a case study funnel, or an appointment funnel.

We just need a simple funnel that drives new traffic your way and generates the leads you need for your funnel. That’s the first project —that’s about getting rich.

Convert

On the convert side of things. There are three ways that you can scale up client conversions.

They are Strategy Session, Value Builder, and Killer Proposal. Each of these is designed to convert your prospects into paying clients.

 

Using this framework, we have been able to help technopreneurs install systems and tactics that allow them to scale with very little resource investment. Without a system, a process and an approach you are pretty much stumped and cluttering yourself with unwanted activities.

In summary, I don’t know what your colors are. Whether you have a lot of greens (going is good), or lots of oranges, or lots of reds. But if you had more greens and oranges than you’d like —or frankly, you’re on the right track.

But you just want to go faster— then, I’m really glad you’re here because later this month, we’re starting a brand new case study group for our Techcelerate Program.

And we’re going to work really closely over two or three months with a small group of coaches and help them to implement these systems week by week by week to go from red to yellow, and yellow to green.

It could be the perfect way for you to go from where you are to 2X your revenue within a year in your technology business quickly. In it, we cover each of these twelve accelerators with a heavy focus on – Attract Cycle, filling your funnel, and then converting opportunities into deals.

Take good care. I’ll talk to you soon.

 

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P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :

1.  Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

2.  Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3   Join our Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action and grow. Best Wishes.

Lead Generation Inbound Marketing

Why Tech Firms confuse ‘Lead Gen’ and Inbound Marketing?

Most Technopreneurs assume lead generation involves making a bunch of phone calls, meet a few people in the network or hire a pay-per-lead or pay-per-click service to feed them anyone remotely interested in talking. Those mistaken tech firms might as well stand on a busy street corner shouting, “Who needs an Analytics or Cloud Services company ? We are one!”

 

While that person might walk away with a handful of new phone numbers or scheduled appointments, the odds of any of those leads being your ideal client are very very slim. The audience is not filtered based on their interest or need for your specific services.

 

The best clients usually come to you because they’ve researched your services and understand how you can help them. It’s called inbound marketing, and since the proliferation of Internet search engines, it has become the preferred tactic for those trying to generate qualified leads.

Your firm’s website is now the virtual office. The information you provide there will offer visitors a glimpse into your services and professional style. Rather than pestering a random audience, hoping to catch them at the perfect moment, inbound marketing attracts those searching for your services.

 

For example, optimizing your site for specific keywords, like “best Analytics firm who can solve complex Financial Data issues,” will attract people that Google that phrase. This will weed out others looking for “best analytics firm who work with Oil & gas” or “best analytics firm helping implement SAP systems”

People no longer need to be told what they need; they know it, and they actively research it themselves. By creating content, like blogs, ebooks, webinars or white papers, specifically for your ideal client, you’ll create an organic method of generating new leads. The better your content, the better the leads.

 

But good content is nothing without strong promotion.

The internet is littered with undiscovered content, and regardless of how good that content is, it doesn’t do the firm any good if nobody is reading it. Social promotion is one of the most effective ways to drive potential clients to your content. By posting snippets of your interesting content and including actionable language like “go to our site to check out this post and others”, you can drive social media users to your firm’s site.

 

The nuance, of course, is that getting your social posts seen is more than just a matter of posting it. If your social presence – the new gateway to marketing – isn’t performing, it’s because you might be using a 2018 strategy that doesn’t work anymore.

Think about a deep sea fishing trip. Without the right bait, you’ll never attract the big fish. Sure, you can go out there with a couple of lures, and maybe you’ll get lucky, but the guy that’s chumming the water will likely catch the tuna. Inbound marketing is like chumming the water. It gives your firm the best chances of attracting the perfect clients.

Inbound marketing is more effective than buying lists because it requires more time and effort to successfully execute. When you begin to write your blogs, make sure you’ve consulted with a marketing professional about best practices. This content is a reflection of your firm, its services, and yourself. It’s worth getting right the first time.

If you’d like to learn more about inbound marketing for Technology firm or even strategize a content plan, reach out to us. We help Technology Companies grow their practice with the most modern and effective methods.

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P.S. Whenever you’re ready… here are 3 ways I can help you grow your tech business :

1.  Grab a free copy of useful stuff that can help you grow your tech business. More in our blog.

4 Ways to Position Your Tech Business to Attract More Clients Click here.

3 Mistakes to Avoid In Your Tech Business To Grow Revenue Click here.

2.  Schedule a 15 Minute assessment call with us – Click here.

We have worked with a bunch of tech companies and have offered them systems, strategies and coaching to attract and convert clients. We help you install sales and marketing systems that automate stuff and help flood leads and drive higher revenues and margins. Talk to us.

3   Join our Implementation Program and be a Case Study

I’m putting together a new coaching case study group at Techcelerate this month… stay tuned for details. If you’d like to work with us on your client-getting and scale plans… just reply to this message and put “Case Study” in the subject line.

Life is short. Take action and grow. Best Wishes.

What to Look for in a Tech Marketing Agency?

Technopreneurs and tech business leaders still assume that “marketing agency” implies logos, branded brochures, and a fancy website.

“In the digital era, Marketing is not shouting about the stuff you make but it is about the stories you tell” – Seth Godin. 

 

Here’s what we’ve learned after talking to hundreds of technology firms about their experiences with their marketing agencies.

 

Metrics vs. Image

 

Marketing agencies are either guided by their pursuit to provide new business, or their drive to improve a firm’s image. These firms are night and day, with half the firms operating as demand generation platforms and the other half working as rebranded PR agencies. Some agencies focus their efforts on driving more leads to your firm, and others focus on improving your image. One is strictly utilitarian and an extension of a technology business and the other is a more remote addition that focuses on PR work.

Tech firms have different needs, so let’s talk through the difference:

 

Marketing agencies as demand generation platforms:

Marketing agencies who focus on driving business to a Tech firm view themselves as an investment rather than a cost… and they operate accordingly. If a marketing “tactic” isn’t going to drive tangible return on a Tech firm’s marketing spend, then these types of marketing firms want nothing to do with it.

While image agencies have teams of “creatives” and are driven by holding their ears to the ground and measuring sentiment, demand generation agencies have “data junkies” and crunch numbers for breakfast. Rarely will an image agency have key performance indicators or other metrics, and (in the unlikely event they do) they definitely won’t show those numbers to the Tech firms they serve.

A Tech firm marketing agency that is focused on generating a return on marketing spend will constantly look at the money the Tech firm is paying, and the clients that the marketing agency is able to drive to the Tech firm. Tying a new client directly to what drove them to become a client is vitally important to these firms, and while it’s nice to have a pretty ad with the firm’s logo in a fundraiser brochure, it’s even better to have clients being driven to the firm. If a numbers-driven agency can’t tell a Tech firm the exact amount leads or revenue that they have driven to their doorstep, then these marketing agencies aren’t satisfied. Granted, driving leads and driving revenue are two very different goals:

 

Driving for leads: These marketing agencies focus their actions on driving leads to your firm. If you receive a steady flow of calls, email submissions and contact form submissions, then these agencies perform well.

Marketing agencies dedicated to driving leads to your firm focus on the number of the leads you receive. As that number rises, that agency believes that they are doing a better job and delivering on what you are paying them for. However, the more leads you have, the more work is needed to qualify those leads to see if they are the right fit for your service. If you get a hundred leads in a month, you have to respond to each of those leads. If they aren’t a good fit for your firm, then you’ve used a significant amount of time on nothing. There’s a big difference between optimizing for the quantity of leads, and optimizing for the quality of leads.

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How To Expand a Tech Firm’s Customer Reach

Once technology firms have reached a level of maturity where revenue is consistent and practice (and delivery) is dialed-in, talks of expansion are almost inevitable. Expansion of tech firms comes in a few different flavors of conquest: geography expansion (into new country segments), moving up-market into complex deals/bids and expanding various practice areas.

 

We’ll cover expanding practice areas in another post, but expanding market and customer reach is often seen as the logical next step of a successful firm compared to moving up the market.

 

Whether that’s expanding revenue growth across market segments in the same country or outside, it is a trying hurdle for operations, marketing, and the entrepreneur’s sanity.

 

Here’s how to handle all three.

 

Keeping Your Sanity

 

Change in a firm is difficult, but when all of the partners are aligned on a firm-wide move, that resistance to change can swing the other direction into unbridled momentum. While deciding to grow a firm’s new revenue streams can feel incredible, eventually the honeymoon phase of decision making is over, and the reality of execution begins. To ensure partners can focus on their work and not lose sleep over the expansion, it’s critical to have realistic and achievable goals in mind.

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Why the link between marketing and sales teams break?

Smarketing, where marketing and sales work as one dream team, sounds so simple yet it ain’t!

Your revenue engine works best when Sales and Marketing are working in lockstep, yet for many organizations, this is just a dream. Their tools, tactics, metrics, and mindsets get in the way of making this fantasy a reality.

This dysfunction exists in both large and small companies.

And a lot of times when you have a sales team and a marketing team, each of those team’s goal is a little bit different, or maybe individual members within those teams have a different goal that is their top goal.

And, this happens, a lot of times, because of the ways that we incentivize teams.

Salespeople are incentivized to makes sales, that’s how they make money, you promote them when they make a lot of sales. In some companies, there are team incentives where if you all hit quota, then everyone gets some sort of incentive as well.

The way the marketing team is incented can be a lot different. They may not have solid targets like sellers and it’s never a make or break situation every quarter.

This typically results in two breeds of people in any company. The marketers and the salespeople. Different thinking, different behaviors and different motions. The little things we do from the incentives to just the way we talk about our teams lead us to have these factions.

Another thing that happens, an easy way to get a little bit more of a team thing going on, is we actually physically sit the salespeople and the marketing people away from each other. I think it’s actually really important to mix people.

We are energy being first and we would love to be part of a team that is excited and energetic. When you actually have people mix, or even better, switch seats, people start to empathize with each other more.

I would strongly recommend that for great teamwork to unfold, everyone needs to feel like they are part of one team.

 

If we can have one leader drive lead to deal, like a Chief Revenue Officer, who is able to plan KPIs, incentives to build one team that works towards ONE GOAL – you can definitely move towards a Smarketing DNA.

Will you?

 

 

Why Poor Enablement Leads To Sales People Failing?

There has been much written and discussed on how sales people fail themselves. Totally agree. But then there is another side to the story.

Poor sales enablement by the company!

Yes! Sales people fail because their company fails them. It happens all the time. The only difference between when sales people fail themselves vs when sales people fail because of their company — the company rarely gets blamed.

Often times there is no revenue strategy that drives go to market plans, product, marketing and sales function.

I have seen these situations a lot around me. When it happens and it’s a crying shame.

Sales people are only part of a two part system to drive sales. Sales people are the tip of the spear, they are the executors and if they aren’t doing the right things, nothing is getting done. With that said, the company has a job too, and if they aren’t doing their job, it doesn’t matter how good sales is, ain’t nothing gonna happen.

Sales people fail because they company fails them and when the company fails them the isn’t doing some or all of these things;

  1. There is no solid revenue strategy and a ‘Go to Market’ plan
  2. The business model no longer fits the market
  3. Poor territory development
  4. Poor sales process and review mechanisms
  5. They don’t provide a good competitive product. In 2018, it’s all about providing business outcomes.
  6. They aren’t providing solid sales support (enablement)
  7. They don’t have a solid on boarding process
  8. They have unrealistic quotas
  9. They don’t provide adequate training
  10. The have horrible hiring practices
  11. They don’t have a sales culture through out the entire company
  12. They lack sales leadership
  13. They don’t listen to the sales people
  14. No lead development
  15. Weak sales messaging
  16. Lack of market understanding
  17. Slow product upgrades, improvements
  18. High prices
  19. Weak marketing department
  20. They micro manage
  21. No room for failure
  22. Too much room for failure (never make quota, and still have a job)
  23. Bad talent management
  24. No coaching
  25. Poor communication
  26. It’s political and bureaucratic
  27. Over zealous legal
  28. Unrealistic expectations
  29. Can’t deliver product, they can’t implement
  30. Crappy customer service
  31. Poor customer retention
  32. Not enough tools (salesforce automation, CRM’s, etc.)
  33. Don’t embrace social media
  34. Don’t recognize it’s 2018 NOT 2002!

This is one long list of ways sales people fail, because of their company.

It’s too easy to blame the sales person or the sales team for falling revenue, for poor sales results, but before we do, we need to take a good long look at the company. Is it providing the sales team with what it needs to crush it? Often times, the answer is no.

It’s time companies become accountable for sales success and failure as much as the sales individuals.

How does your company stack up?

If you want a top-notch sales organization, hire top-notch sales people AND then give them everything they need to be successful, which starts with avoiding EVERYTHING on this list.

Yes, companies CAN be the reason sales people fail.