There is a paradox at the heart of sales and marketing.
There is no doubt that marketing and sales promotion by mail, email, telephone and other media are hugely important to British businesses. And yet it is also an industry which is apparently content to live with a very high rate of failure.
For example, businesses are quite happy to live with response rates of only 2 per cent from their lead-generating marketing. That means 98 per cent of their marketing efforts are hitting the wrong targets, or hitting the right targets with the wrong offers. Or else they are marketing to people who are not interested enough in what they have to offer even to open and read their marketing communications.
Similarly they are prepared to employ telephone marketers and sales people to waste most of their time on unproductive calls and activities trying to up sell clients who will never buy anything else unless it has 50% off.
Surely there has to be a better way. A way that targets more real prospects – achieves more positive responses – and delivers more sales. And all from less activity, less resources and less cost.
You can’t know all of your best potential customers. But you do know – or you can work out from your own sales and marketing data – what kind of person or business your ideal customer might be. What they do. Where they are. What size and much, much more.
You can work out which customers are the most profitable for you, now and in the future, and which offer the best opportunities for cross-selling new products and services. You can identify and eliminate the no-hopers and the bad risks. You can also identify new market opportunities and alternative strategies that you may not previously have considered.
Armed with this knowledge, and much more besides, you can start to put ‘More from less…’ into practice. You don’t need to resort to carpet-bombing every possible customer with mailings, because you are in the happy position of being able to select your best prospects with relevant offers and devote your effort – and your marketing and sales budgets – to turning those prospects into sales, balancing your efforts with the potential rewards.
Blue Sheep® is a company dedicated to helping you achieve exactly this.