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Effective Sales Lead Generation (Forte Consultancy Group)
 

Effective Sales Lead Generation (Forte Consultancy Group)

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Approach and best practices for creating sales leads from alternative sources. Focuses mostly on SME leads, although applicable to all customer segments.

Approach and best practices for creating sales leads from alternative sources. Focuses mostly on SME leads, although applicable to all customer segments.

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    Effective Sales Lead Generation (Forte Consultancy Group) Effective Sales Lead Generation (Forte Consultancy Group) Presentation Transcript

    • Viewpoint Boosting Sales with Lead Generation Approach & Best Practices December, 2008
    • Forte considers five key external sources effective in quickly creating sales opportunities… Companies with relevant sales & service team Companies with relevant Persons with influence on (E.g. PC resellers, IT customer portfolio or access to prospects technical service providers) (E.g. Commercial banks, (E.g. Retired telecoms Real estate developers) Channel Partners dealers, Entrepreneurs) Independent Agents Business Partners Customers which are Internal and external lists satisfied and influential of non-customers (E.g. Customers in ICT or (E.g. Importer/exporter with large network) lists, Industry specific lists) Existing Customers Lists Sales Pipeline 2 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Forte considers five key external sources effective in quickly creating sales opportunities… Build win- win Create Use as low- scenarios… synergies cost mass for sales… channel… Channel Partners Independent Agents Business Partners Capitalize Build basis on for cold referrals… calls… Existing Customers Lists Sales Pipeline 3 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • …for which the initial focus would be creation of alternative sources, after which growth opportunities would lie ahead with the correct actions Continuity in lead generation through these sources Winning requires continuity in relations with them… Partnerships Provide continuous feedback to partners for improvement, and keep channels of communication open Cooperate with the partners, growing their business, through training and value added support Accelerate Motivate continuous referrals and sales by recognizing and rewarding high performing partners Cooperate Facilitate easy and effective means of interactions with acquired sources Motivate Identify alternative sources and selectively acquire Facilitate Evaluate Potential Partnerships Create Customers, Independent Agents, Channel Partners, Business Partners, Lists 4 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Creating additional leads with short term and long term initiatives is a cyclical process, which requires a good understanding of the customers, competitive environment and potential partners Impact Need Approach Learn About the Customers, Generate Number of Leads Competition and Partners Information Number of Customers Diagnose Learn Rapid Increase in Sales with Opportunities Instant Accelerated Actions Impact Take Action Market Share Annual Sales Continuous Increase in Build Strategic Sales with Structured Customer Portfolio Value Initiatives Actions 5 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Interpretation of the voice of the market, the business, the customer and the employee provides answers to key questions in lead generation process Illustrative Which prospect groups are more important strategically? What are the business priorities to keep in mind in partner creation? What would be the success criteria and targets for such activities? Voice of the Business How do competitors create leads for sales? Who partners and works with whom in the market? What are the market potential and trends? Voice of the Market Who would prospect customers listen to for referrals and sales? Which customers are most likely to refer high potential prospects? Which benefits would the referrer and referred parties expect? Voice of the Customer Would sales team see these new sources as competition to their role? How would sales teams prefer to receive new leads? What would channel and business partners expect? Voice of the Employee 6 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Product, customer and channel priorities forms the basis for lead generation process, defining the targets and objectives Voice of the Business Product Priorities Illustrative  Increase point-to-point data revenues  Increase long-distance market share  Leverage ATM infrastructure Customer Priorities  Leverage growth in real estate sector  Increase SME market share  Increase presence in retail sector Channel Priorities  Increase indirect channel use  Increase existence across cities  Establish strong partnerships 7 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Potential by location and customer segment needs to be analyzed in order to develop the most effective and focused lead generation Voice of the strategies for defined targets Market Commercial Entities in Top 10 Cities Sample 351053 İSTANBUL 133652 ANKARA 121470 İZMİR Comparison of market size by location 78278 BURSA and customer segment (e.g. industry, 68495 ANTALYA size) would reveal untapped potential 56185 KONYA 49137 ADANA for additional sales… 43854 MERSİN 42116 BALIKESİR 38848 MANİSA Internet Type by Industries Real estate 10% 46% 33% 19% 33% Transport. & comm. 7% 47% 36% 15% 33% Tourism 5% 59% 40% 9% 16% Dial Up Trade 5% 52% 26% 8% 37% ISDN <2 MB/sec DSL Construction 9% 50% 14% 6% 49% >=2 MB/sec DSL Other BB Manufacturing 7% 55% 27% 9% 34% 8 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • For high priority prospect segments, analysis should reveal expectations during sales cycle and potential partnership and Voice of the referral opportunities Customer Customer Category Sales Expectations Illustrative In sales, we would look for… Retail 9.1 6.7 8.9 7.8 4.5 Chain Stores References Good Sales Product Discounts Impression Promotions Information Potential Sales Partners Referral Likelihood We would consider referrals from… We would give referrals if we… POS System Resellers 8.5 Receive Monetary Benefits 7.6 Systems Integrators 7.8 Receive Other Benefits 5.6 Real Estate Developers 4.5 Product Suppliers 3.4 Receive Exceptional Service 7.8 Other Retail Chains 7.6 Are Happy with Products 8.8 Technical Service Providers 7.7 9 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Potential partners should be also analyzed, in terms of their potential value add for sales, as well as their expectations from Voice of the partnership Employee Partner Category Partner Potential Illustrative  Target Segment Fit High Overall High  Service Offering Fit High Potential Performance  Size of Operations Medium Server 4.1 / 5.0  Number of Candidates Limited Resellers  Eagerness to Partner High Partner Expectations Monetary Benefits 8.5 Partner Marketing Conferences 6.7 Extra Benefits 4.4 Prospect Information Sharing 8.7 Planning Support 3.4 Product Training 8.8 Sales Support 7.8 Advertising and Promotions 7.7 Marketing Support 7.6 Marketing Training 8.9 Operational Support 6.5 Approved Partner Branding 7.8 Technology Support 5.5 10 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Outcome of these activities should build the basis for lead generation strategy map Lead generation strategy map defines which for products are leads generated from which Illustrative segment and by whom… Segment Partners Technical Retail Pos System Systems Other Retail Service Chain Resellers Integrators Chains Providers Stores Internet Cold Referral Warm Referral VPN Products Sales Warm Referral Cold Referral Data Center Warm Referral Long Distance Warm Referral Cold Referral 11 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Customer referral programs are effective means for accelerating sales for companies with a basis of loyal customers Key Principles Build win- win Create Use as low- scenarios… Leverage Create synergies cost mass Pro-actively value chains for sales… for benefits channel… involve loyal Channel Partners & networks of both referred customers referrers and referrer Independent Agents Business Partners Care for the Incorporate Capitalize Build basis experience of referrals into on for cold all involved customer referrals… calls… parties value Existing Customers Lists Sales Pipeline 12 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Reward mechanism is one of the key success factors of any referral program, balancing attractiveness/volume vs. cost of sales Sample Case USA Existing Customers Case: Friends & Colleagues Small Business Referral Program Rewards for referrals are commonly based on sales volume to referred parties, and delivered in various forms… AT&T provides rewards ranging between $50 and $250 for referrals, based on sales value, presented with a Visa Prepaid Card. 13 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Providing benefits for the referred party as well provides additional motivation and justification for cause for referrers Sample Case Turkey Existing Customers Case: Win-Win Referral Program Providing benefits to both parties create a ‘favor’ affect to referral programs… TTNet Refer & Win program provides 5 YTL discount on bills for both the referred and referrer. 14 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Conditions for eligibility and customer privacy should be effectively managed to avoid potential dissatisfaction of referrers Sample Case USA Existing Customers Case: Conditions & Customer Privacy Using referrer name can increase likelihood of acceptance, on the other hand, it can decrease number of referrals submitted… TW Telecom (Time Warner) provides benefits for sales with 12 month commitment only, and lets referrers to choose whether his/her name is made known to referred party. 15 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Independent agents can prove to be an efficient sales force, with limited investment needs and quick growth opportunity Key Principles Build win- win Create Use as low- scenarios… Provide synergies cost mass Avoid Reward limited for sales… channel… conflicts loyalty and Channel Partners & authority with existing growth limit liability sales teams Partners Independent Agents Business Motivate Turn high Capitalize Build basis policy and performers on for cold quality into channel referrals… calls… alignment partners Existing Customers Lists Sales Pipeline 16 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Warm referrals provide faster means for sales, compared to cold calls, but require more talented independent agents Sample Case USA Independent Agents Case: Warm Referral Program Focusing on warm referrals can create a more efficient sales pipeline… Qwest referral program targets independent agents, as a source of warm referrals, and with a sales conversion rate target. 17 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Mass communication and motivation tools and channels are required for increasing performance of agents Sample Case UK Independent Agents Case: Agent Interactive Portal Web based portals are effective means for agent support and referral submissions… Sky provides accounts to its retail agents for accessing portal for their customer operations. 18 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Channel partners with complementary service offerings which serve priority segment prospects can rapidly expand accessible customer base Key Principles Key Principles Build win- win Create Use as low- scenarios… synergies cost mass Ensure sales… for policy channel… Gain exclusive Channel Partners rights when and quality possible Business alignment Independent Agents Partners Capitalize Build basis on for cold Leverage calls… business Create referrals… complementing value in addition products & to cash Existing Customers Lists services Target partners Invest in lasting serving priority relationships segments Sales Pipeline 19 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Partnerships with telecommunications decision influencers and complementary service and product providers can have substantial impact on sales Sample Case USA Channel Partners Case: Computer Technician Partnership Program Similar partnerships are applicable for additional companies, such as: •PC makers •PC & technology resellers •Real estate developers •Transporter companies •PBX makers … CA has partnerships with various computer technical service providers, such as Geeks on Call, whose technicians receive rewards for CA product sales, and receive additional support. 20 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Effective channel partnerships require business and tool support to partners, creating improvements for both parties Sample Case USA Channel Partner Case: Authorized Partner Support Training and support to sales partners not only directly affect sales, but also add extra value for these partners, increasing their loyalty… Sprint provides marketing and training support as well as online tools for its authorized partners. 21 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Low-cost channels, such as web can be utilized for training and support of partners in mass numbers Sample Case USA Channel Partners Case: Preferred Sales Training Program Web channel is especially relevant for technology companies’ partners, such as telecom operators’… Intel provides web based facilities to its resellers for 24x7 training and face-to-face courses for more detailed training in both technical and sales skills 22 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Commission-based programs are effective in creating partnerships, yet extra rewards and recognition are necessary for long-term relations and loyalty Sample Case USA Channel Partners Case: Preferred Partner Rewards Program Recognizing and rewarding channel partners, in addition to providing commissions, increases motivation and loyalty… Toshiba provides rewards ranging from jewelry to vacations to its top performing partners. 23 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Differentiation of partners, by their value add to the company, and customized treatments also increase return on investments into partnerships Sample Case USA Channel Partners Case: Tiered Partner Certification Program Segmentation is commonly applied for customers, yet, is also a powerful tool in partner relationship management… Cisco Systems classifies its partners and certifies them, with custom support levels for each. 24 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Business partnership with non-competing companies for customer acquisition, creating synergies in value offerings can create opportunities for both parties Key Principles Build win- win Create Use as low- scenarios… Target synergies costGain mass Care for partners for sales… channel… exclusive brand serving Channel Partners rights when alignment priority Independentpossible Agents Business Partners segments Leverage Capitalize Build basis complement- Give some, on ing products for cold take some referrals…& services calls… Existing Customers Lists Sales Pipeline 25 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Bundling of business solutions to priority prospect segments is one of the effective ways in building business partnerships Sample Case Malta Business Partners Case: Start-up Package Partnership with Bank Start-up and sector- specific bundles can be created in partnership with banks, which are also after similar prospects… HSBC partners with IT & T to provide a complete start-up package to new businesses, bundling banking, telecommunications and consulting services. 26 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Lists are also effective means, in case targeted group lists are accessible, or mass marketing actions are taken Key Principles Build win- win Create Use as low- scenarios… Unify lists to cost Balance Customize synergies mass avoid multi- channel… vs. quality approach by for sales… Channel Partners pitches to quantity of value of one group data prospect Independent Agents Business Partners Utilize both Avoid Capitalize direct and Build basis spamming on for cold indirect using referrals… channels calls… targeted lists Existing Customers Lists Sales Pipeline 27 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • List usage should be complemented with prospect potential and needs prediction, in order to target the right prospects through right means and with the right messages Illustrative External List Usage List Sources Business Rankings Business Directories Trade Directories Stock Market Listing Industry Directories Certificate Directories 3rd Party Companies Potential value and Prospects are solicited via Lists are acquired by segment and company needs of prospects different channels based on size. potential and needs. are assessed. 28 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Internal data can be also used to identify prospects for sales, through analysis of relations between companies Illustrative Internal List Usage Potential value and Companies which are called by existing Prospects are solicited via needs of prospects different channels based on customers frequently are identified through are assessed. potential and needs. data analysis. 29 Forte Consultancy Group © 2008 Forte Consultancy Group. All Rights Protected and Reserved.
    • Forte Consultancy Group | Istanbul Office The information contained in this document, much of which is confidential to Forte Consultancy Group, is for the sole use of the intended recipients. No part of this  Dereboyu Sok. Sun Plaza Kat:13 document may be reproduced in any form or by any means, electronic, mechanical, Maslak, Istanbul - Turkey photocopying, recording, or otherwise, without the prior written permission of Forte @ info@forteconsultancy.com Consultancy Group.  +90 212 366 02 66