How To Define And Refine For Tech Sales Success
Silence annoys marketing and sales teams. When you spend hours and hours each day writing and talking about your company’s product, you start to get frustrated if people don’t visit your blog, open your emails or close on your calls.
It’s shared at the other end too with many CIOs being frustrated by a generic message from some tech vendors. That’s often where the problem lies: the experience isn’t tailored. Here are some steps to help salespeople and marketers can work together to find define and refine their market.
First some bad news
Your company’s product or service might be excellent and have a broad appeal, but many just won’t be the right fit.
Structural factors sometimes mean you’re fighting a losing battle to turn that lead into a paying customer.
For example, a business that’s highly centralised in one location might only purchase from you if what you’re selling is something that they can easily manage from one office.
It’s frustrating to give up on these ones, but it’s worth it in the long run.
Now some good news
Even if your product has near-universal appeal, you don’t need to worry about cornering the whole market…at least not yet anyway.
What your business offers could benefit companies of all sizes and have global appeal. That sounds lucrative on paper, but the problem with defining a market by its absolute limits is that it will include a large number of companies that are unlikely to become customers.
If demand is highest among UK businesses with more than 2000 staff, then focus on them. You’ll be spending your sales and marketing time – and budget – much more efficiently by focussing on those that are more likely to turn into customers.
Focus on the hotspots of demand, not the borders
Look at your existing customer base in detail to identify patterns in the data. Company size, location and sector give you the borders of your market, but they shouldn’t dictate your focus as they only scratch the surface.
Focus on the hotspots of demand, rather than the borders. By concentrating on where there are peaks of demand, rather than limits in your market, you start to unearth the salient reasons at play behind each sale.
Refining who your ideal customer is
Interview your best and most experienced sales reps, collate the findings and start building a picture of what your ideal prospects are looking for, and tailor your sales and marketing activities accordingly.
Focus groups are another way to research your personas. The relaxed format gives participants the chance to bounce ideas off their peers, and the group setting means insights are pulled from a range of experiences. One-on-one interviews are another research option – they give you the chance to probe and uncover some of the nuances within personas’ needs.
Following these steps will help your sales and marketing team’s find their market niche and, in turn, their customers.
Download our Strategic Customer Acquisition Guide for more insight into finding and qualifying B2B leads