There is no economy – there are only customers: optimize Marketing and Sales
Even during this economy purchases are made
All people are talking about the economy.
All media is talking about the economy: newspapers, TV, blogs, magazines
All CEO’s and CFO’s blame the economy for bad company results.
However there is no such thing as the economy, there are only:
- People that are leads, customers or ex-customers
- People in companies that are leads, customers or ex-customers
Even in the deepest recession or the worst depression, people and people in companies spend money for their purchases. The amount and frequency is less, but still purchases are being made in order to survive or to keep the business going.
The required Marketing and Sales optimization
Your challenge in Marketing and Sales is to catch that spending.
You have to catch the maximum of the spending for your type of solutions or products.
How to achieve this is the challenge.
The additional constraint is to achieve the maximum quantity of purchases or with the highest value while at the same time spending the least amount of money and efforts on marketing and sales. This is optimization.
You need to spend the least amount of money on marketing that obtains the highest amount sales preferably with the best margin requiring the shortest amount of time as money supply is limited.
It is not the economy that you have to blame for your bad results.
It is the lack of optimization of your Marketing and Sales: you need to optimize Marketing efforts and Sales efforts.
Lead generation or customer retention?
In order to achieve this optimization you need to measure how well and efficient every method or system applied is for:
- Lead generation: media, source, communication channels, messages, …
- Customer retention: media, communication channels, messages, …
- Sales process: communication channels, messages, relations, speed, …
In many – if not most – cases and businesses customer retention is more effective than generating new leads.
You know your customers; you know hardly anything of leads.
Thus mainly focusing on your existing customers for both marketing and sales could turn out to be the best thing to do.
Also investigate on how effective efforts of communicating with ex-customers are as that can be even more effective than generating new leads. The advantage you have with ex-customers is the past experience, knowledge and contacts you have with them.
What’s your optimization for Sales and marketing?
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