I know it sounds simple – companies, brands and Brand Champions should know thy numbers, but it is one of the biggest challenges companies face. Most companies think they have a good idea of what it’s going to take to make their numbers, but in the majority of cases they don’t and if they think they do, they are usually way off!
When breaking down a company’s sales and marketing process and sales funnel, there are several critical mistakes that companies make when it comes to knowing their numbers and and setting themselves up to actually reach their goals and objectives. Let’s take a look at the major mistakes that a lot of companies make:
1) Most companies don’t have a realistic idea of the amount of contacts, time, energy and touches it is going to take to reach their goals and objectives. About 95% of the time, companies don’t have enough prospects, aren’t touching those prospects nearly enough times, and don’t have enough activity or relationships to even come close to reaching their goals and objectives.
2) They aren’t utilizing a CRM (customer relationship management system) to house their information and manage their relationship development with current customers and targeted prospects. A CRM will help manage the number of touches that either of these groups get and give you valuable info about your numbers.
3) They don’t have enough ideal qualified prospects in their database. If you’re starting a campaign with too few targeted prospects, it’s almost impossible to generate enough leads when you don’t reaching out and touch enough people from the get go.
4) They don’t have enough marketing touches to their prospects throughout the year. Touches build top of mind awareness so that prospects can make a conscious and educated decision to purchase your product or service. Touching them enough times consistently throughout the year and maintaining your top of mind awareness is critical for the numbers to work in your favor.
5) Too few touches won’t generate interest or near enough leads. Lead generation, or Lead Gen as it is more commonly known, is something a lot of companies don’t use to generate enough qualified leads that will eventually turn into sales.
6) Underestimating the amount of time it takes to build a quality relationship. Most businesses want instant gratification on marketing efforts and investments. Quality relationships do not happen overnight; they take time, nurturing and value creation. Every now and then you’ll get a blue bird that pops up instantaneously, but more often you have to develop brand awareness, create desire or value within the prospect’s minds in order for them to take action.
Tilt the odds of succeeding in your favor – understand thy numbers! Make sure you are set up for success by having prospects, touches, and activity in your marketing and sales process and sales funnel. Have enough volume, quality, and consistently communicate your message enough to build relationships that will turn into sales. Know thy numbers Brand Champion, so you can win and achieve your goals and objectives.