Last week I participated in “Growth in Turbulent Times”, a series of events (virtual, of course) with some of the marketing and sales professionals I most admire in the market: Brian Balfour , from Reforge, Patrick Campbell , from ProfitWell, and Marc Roberge , a speaker at Harvard Business School and author of the book “The Sales Acceleration Formula” .
They all talked about how marketing and sales areas are coping to get through this time of uncertainty, and left some recommendations that are worth sharing here.
1. Immediate review of the CVP (customer value proposition) and ICP (ideal customer profile).
In other words, what value does your company have to france companies email list and to whom? It is during a crisis that you discover whether your product or service is a “must have” or a “nice to have” for the customer. Therefore, it is possible that the type of customer your company serves today is not necessarily the type of customer your company must serve to survive this crisis.
Marketing and sales efforts should prioritize the type of customer for whom your product or service is a “must have”. Conduct tests to identify which channels, content and interactions have the greatest impact on your attraction and conversion metrics for this type of customer. Consider reducing or cutting investment in channels and tactics with the worst CAC:LTV ratio (this last point is very important, which we have already explored extensively here ).
2. Review of the commercial process: qualification criteria, steps and activities.
For many companies, doing more of the same won’t be enough to close new deals in the current environment. One best practice is to listen and record very carefully what customers and prospects are saying in sales meetings. Try to deeply understand the feelings and needs of the people your company serves.
Marc added that if he were in the shoes of the executives he advises, he would conduct daily reviews with the sales team about what they’ve heard from customers and prospects. The faster you learn about the reality of the people on the other side, the faster your company will be able to adapt to that reality.
Adapting, in this context, means prioritizing the right leads, at the right time, with the right approach to gain the maximum possible productivity and sales effectiveness. Remember: in a time of reduced demand, wasted or underused leads cost more than ever.
3. Forecast review: Don’t blindly trust the historical conversion rates (MQLs to SQLs, Opportunities to Customers, etc.) of your pipeline.
Don’t expect predictable behavior from customers and prospects at this point. Create different sales projections (e.g., a conservative one, a bad one, and an even worse one) and estimate the impact of each on your cash flow for the next 12 months.
Continue measuring conversion and closing rates and review them weekly until you start to identify new patterns in your pipeline history. With a more accurate forecast, you will be able to make better decisions about investment allocation and potential cost cuts, preserving your cash flow.
You can watch the full discussion from yesterday here . And be careful: this Friday, March 27, they will hold two more rounds of live discussions, one focused on the B2B segment and another specifically on the role of the CEO. Registration is free and you can do it here .