B2B lead generation improves by eliminating Multi-Hat Syndrome
Companies today are challenged on how to produce more results with less. As people leave, fired or put on unemployment, the business strategy today is not to replace with better performing people but “spread the work load” – creating the multi-hat syndrome.
The buying world has changed forever. The buyer today doesn’t value business offerings as in the past. In fact, the mentality is based on a new model of commodity buying leveraging price.
Coupling the multi-hat syndrome and a change in the buying, you now have a double whammy. Now couple that with lack of time and you have a catastrophe on your hands.
Key issues impacting top end revenue stream:
1) Time has become the new challenge. Not enough time to do things properly and splitting their attention and focus. People will gravitate to what makes them comfortable and adopt the easiest path. There is a huge distraction with emails and responding to day-to-day issues.
2) The effort and time dedicated to important sales producing tasks are compromised. For example, sales people focus existing accounts and spend no time developing new accounts. Why? Because most hate this work and have been “conditioned” to become an account manager… handling day-to-day services issues.
3) Since the buying word has changed the company expects the current people to have the “know how” and expertise to perform other job functions. Sales people today don’t spend any time learning new skills. Again, time becomes the first problem. The second issue is one of improving one’s skills and knowledge level.
Strategies combined with a business development model will improve sales
The first and most important is defining the universe of target companies. Most small companies haven’t taken the time to create this basic business development model to deal with the front end.
1) Create a strong lead generation program using a lead generation person or service.
The larger the sale and account value the faster you will get an ROI.
2) Identify the universe of customers. Then break the list down into best customer profile. This can be done as a part time function (small budget) or using an outside vendor. Once this is done, you can start an outbound marketing campaign.
Accomplishing these first two steps goes a long way to breaking down the multi-hat syndrome. This will generate millions in revenue by performing the single most important step… eliminating the single barrier to developing new leads… lack of focus and time by the sales people proactively developing new accounts.