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Mature marketplaces provide clear targets for new growth – the firm demographics have already been mapped. But how can you segment or target for growth in the virgin territories where little is known of who's buying what and why?
First and foremost, we have to understand that this is not a game of musical chairs. Those with seats do not want to give up theirs, and they are unwilling to let just anyone pull up a new chair next to them. Funnel Masters (an alumni of Funnel Academy graduates and other funnel zealots) met in an effort to uncover the answer to this question...
The buyer’s journey describes the process for typical business buyers as they move through the sales funnel. The journey is not an administrative process, but a cognitive one. How, though, can you more fully acknowledge buyers when shaping your sales process?
Standing out from the crowd is tough when your competitors are also working towards the same end. Occasionally, though, a business that has been doing 'fine' suddenly starts doing better than fine. In fact, it goes from being good to great.
All businesses strive to recognise the needs of buyers when developing strategies for sales success. Well, at least you should.
In business, there is endless debate about 'strategy'. Yet the term is often confusing or misunderstood. In many businesses, strategy refers to anything ranging from business goals and target markets to specifics such as website management. A scattergun approach often ensues.
Strategy is about deciding what to do and what not to do. In the same vein, choosing how to play is inextricably linked with choosing where to play. For a business, it comes down to choice – that is, assessing which markets are attractive and which the business is best placed to target.
I don’t know about you, but I’m always uneasy when a CEO describes his or her strategy and somewhere along the way you hear a variation on the “after all, how hard can it be to grab a small share of a big market” argument? Well, the answer is always “a lot harder than you think”.
Winning complex new business requires a disciplined strategy. By using a systematic approach, business developers can increase the flow of opportunities and identify which specific actions will close the deal.
Businesses pay money to have their problems solved. Sometimes they will pay a lot, and sometimes they won’t. As a consequence, some problems are more ‘attractive’ than others to sales-oriented businesses that are offering solutions.