On this episode of the Lazaro Podcast we address the topic of how you can build an ecosystem of communication tools that will enable you to develop quality leads from your marketing funnel without the need for a large sales team. [contd.]
This entire topic has been covered across two episodes.
Step 4 – Build the content tool for each fact or feature
How do you identify a suitable budget?
2.5 – 5% of your sales revenue. Depending on how large that number is. For a startup look at 2.5 – 5% of projected ideal sales.
If you’re a start-up who wants to bootstrap your way for the first 5 years. You need to prioritise what you need. Then hire a professional and work out alternative ways of monetary compensation.
Example: With Dasta we settled on a Revenue Share Model.
05:00 – http://dasta.in/
The outcome in the case of Bagpack, was that they originally took 3-6 months to close a deal with a customer. After working with us, spending the time; just steps 1 & 2, took 16 hours of intense meetings over a month. Bagpack reports that closure timeframes have shrunk to 5 days.
06:32 – http://bagpacksuites.com/
Step 5 – Let your customer take critical decisions on his own time
Critical decisions are taken with other family members. Higher the value of the product – chances are they will be consulting more people. An ideal situation is to arm your customer with the power to demonstrate.
Example: The Dasta, pricing engine.
Step 6 – Let your sales team talk to a self-educated & self-filtered customer
This puts the sales person on the front foot.
Dasta: customer walked in with a printout of the exact unit and went straight to price negotiation.
Bagpack: Their 6–3 month conversion time was shrunk down to 5 days.
1 – Offload the explanation/education to a marketing tool instead of the sales person
2 – Allow self-filtering to yield quality leads… which is usually fewer in number.
KPIs will need adjustment because we will now be measuring leads lower in the funnel. This is a big adjustment for salespeople.
14:05 – https://en.wikipedia.org/wiki/Diffusion_of_innovations
You inherently come across with a greater degree of transparency. Further instilling a sense of trust that positively impacts brand value.
Results in a higher chance of you being able to disrupt your industry.