Did Your Sales & Marketing Dollars Work for You? Six Ways to Tell if Your Firm Got Its Money’s Worth:
Intro: When good products and services are properly created, well marketed and sold smart, profitable growth happens. Doing so requires great teamwork of a great organization where everyone works towards a common goal. But how does this happen when the producers, sellers and marketers don’t even work in the same organization? For example:
· Manufacturers hire outside reps to sell products into new markets
· Distributors rely on their suppliers to create sales and marketing programs when introducing new products
· Many firms hire marketing agencies and sales reps to generate qualified leads and close sales
It’s very difficult for organizations with different goals to share responsibility for creating profitable growth.
Despite “everyone’s” best efforts, why do 95% of new products and services fail, and do so few manufacturers, distributors or wholesalers feel that their sales and marketing partners met expectations?
When was success impossible and when is a sales and marketing partner negligent or deficient? How and when can one party make a claim that their partner simply didn’t do the job or even try? Here are six key responsibilities any partner should demand their partners do and do well.
1. Understand, agree on and communicate your firm’s Best and Highest Use and product/service features, benefits and advantages to resolve customer pain or create opportunity
2. Define, quantify and target a niche of buyers assuming reasonable market penetration of a sizable, addressable market
3. Devise a simple growth strategy reflecting a clear understanding of buyer behavior
4. Develop and execute thoughtful, practical and cost-effective sales and marketing tactics
5. Build and manage through a practical budget and timeframe for implementation by accountable individuals
6. Be disciplined to capture feedback and perform analysis of results that are reported on time and with transparency
When all six of these exist then good things happen. If not then who and why was a partner negligent? Examples.
· A distributor negligently promises to sell a manufacturer’s new product line to their current customers without learning that different employees make this buyers decision
· A manufacturer claims that their market research shows buyers consumers want their new improved products. Their outside sales agency invests months and millions only to learn that the research was never done.
· An ad agency develops a campaign to reposition a brand based on bad historical sales data only to have it flop and not get paid.
As a CFO how do you know what should have worked and why it didn’t? Despite many who believe that “sales and marketing is different,” why shouldn’t these be just as accountable as Finance is for accurate results and Production is for products that work?
Andy Birol of Birol Growth Consulting presents, "Did Your Sales & Marketing Dollars Work for You? Six Ways to Tell if You Get Your Money's Worth"
Who is this presentation for?
Geared for CFOs and business owners to understand if and why they may have gotten their money’s worth from a sales or marketing partner. Whether you are a CFO for a manufacturer, distributor, wholesaler or customer, or for a sales, marketing or customer service firm, this workshop is for you.
In this workshop, attendees will:
· Understand the six ways sales and marketing programs can succeed or fail for your business.
· Learn to tell if an error of commission or omission was committed in executing your program
· Begin to understand who can be liable for your expected results
· Understand the potential cost of your loss
· Explore how to differentiate their business in this new economy
This presentation uses a variety of hands-on learning techniques including individual exercises, and audience participation to help owners assess and evaluate their challenges as their company’s prospective next steps, and internalize next steps. Attendee take-aways include several relevant and practical processes as well as an action plan that they can implement immediately.
Who is Andy?
Andy Birol, owner of Birol Growth Consulting (BGC), is an international business growth consultant, author, keynote speaker and business coach. Andy focuses on helping small and mid-sized businesses and their owners create profitable and sustainable growth. Known for his creativity and his candor, Andy's approach, which is based on empowering an owner's Best and Highest Use®, provides clients and audiences with renewed passion, new potential and profitable results.
Andy's business consulting philosophy is to passionately understand his client’s condition and aspirations and then bring as much in-depth influence, external objectivity and breakthrough thinking to help them "Get ThereTM." With twenty years of management experience, Andy started BGC in 1997, helping over 450 firms introduce new products, enter markets and develop new distribution channels. Andy has also designed new pricing, compensation and sales incentive plans as well as restructured and staffed marketing, sales and customer service organizations.
The media has turned to Andy for his expertise in small business growth. He has been interviewed by The New York Times, The Wall Street Journal, CNN's Dollar Signs, Entrepreneur, Business Week, and Inc. Magazine. He has published over 300 articles and is the author of the following five books, including The Five Catalysts of Seven Figure Growth (CareerPress, 2006). Active on his blog profitablegrowth.com and website, www.andybirol.com Andy is a prolific writer of articles which are republished internationally.
Birol Growth Consulting won four Weatherhead 100 Awards as Northeast Ohio's fastest growing single-employee business and 34th fastest growing company of any size and was also recognized by Inside Business Magazine, and Team NEO which awarded him the NEO Success Award in 2005, 2007 and 2008.
Andy continues to bring his drive and passion to all aspects of his practice (consulting, coaching, speaking and writing) and continues to develop and publish articles, books and programs. Andy, Joan and Margo lived in Solon, just southeast of downtown Cleveland. In November, 2007 Andy’s firm, Birol Growth Consulting, won MSN/StartupNation's Top Ten Home-Based Businesses Award and in 2009 the Cleveland Council of Small Enterprises (America’s second largest Chamber of Commerce) awarded Andy its 10 Under 10 Award as one of Cleveland’s most successful small businesses. In July 2010, Andy and his family moved to Shadyside, PA where Joan assumed her new SVP role with PNC Bank and their Margo can begin high school at the Ellis School. Andy joins Leadership Pittsburgh’s 27th class this fall.