We get a lot companies that find us through the web and our inbound lead generation efforts, who are looking for outsourced B2B sales help. After asking them a few questions and getting a better understanding of their business, we often determine that they actually need marketing assistance. The solution they need helps them turn their website into an inbound lead generation machine.
Here are a few of the factors to consider when determining where you need to focus your sales or marketing tactics.
Lifetime Revenue Value
How much revenue are you able to generate from closing this customer? That is the Lifetime Value. If your solution has a low dollar value, then it likely does not make sense to have an outbound sales effort. You need to consider the cost of the sale versus the ROI.
Do You Have a Defined Market Niche?
If you have a horizontal application with a wide target market based on size of business, but not a vertical niche, then marketing may be better than sales. It is hard to identify a business from another, that may be interested, or even a geography. Inbound marketing allows them find your solution.
How Many Potential Customers Do You Have?
Some solutions by their nature only have a few potential customers. Fraser Kelton told the story of Get Glue at an Innovation Factory event in Hamilton last year. They had 50 target customers that would be a fit for their solution. They proactively targeted those companies and contacts through an outbound effort. The fewer, the easier it is to identify them.
When Does the Buyer Look For a New Vendor?
Many clients may buy a similar solution to yours, but they have no incentive to look for a new vendor unless there is a problem. From the outside looking in it may be difficult to find those end users directly. Creating content that helps them when they have a problem, allows them to find your business.
Marketing Can Help Your Sales Effort:
Content marketing is an excellent fit to support networking and social selling by the company leaders. Having an inbound lead generation program can easily support your other initiatives.
How Complex is Your Sale?
If your solution is a complex sale that could involve many different stakeholders, then an outbound sales effort could be a great tactic. This typically goes hand-in hand with how expensive the solution is.
The conversations above all are predicated on having a few customers. Initial customers may need an outbound sales effort to get them onboard, but that may not be sustainable long-term. If you are interested in talking sales and marketing please reach out to me, or join our newsletter.