How Successful Sales Executives Create Effective Prospecting Strategies

These days, sales executives and their teams are expected to constantly measure prospecting effectiveness, in addition to justifying every cost based on ROI and the bottom line. From lead scoring and goal setting to competitor research and audience insights, implementing an effective prospecting strategy — and finding the right sales tools to empower your team — is critical for long-term success and business growth. Of course, developing a successful prospecting strategy is easier said than done, especially if you are already working with limited resources and aren’t quite sure where to start. To help you get the prospecting ball rolling and win more business, we’ve rounded up tips and tricks from the most successful sales professionals in the business. 1. Know the Markets You Serve & Exactly How You Serve Them Brian Frank, Global Head of Sales Operation at LinkedIn explains, “…the first thing you want to do is understand the market.” In order to develop effective prospecting you need to understand every aspect of the market your product or service serves, right down to the nitty gritty underbelly. When you take the time to truly understand the needs and goals of your prospects they view your offering as a valuable solution to their problems. Your prospects also need to feel like you understand their pain points and are working with them to find the right solution. From Guy Kawasaki‘s book Enchantment, “Enchantment is the purest form of sales. …The difference between enchantment and simple sales is that with enchantment you have the other person’s best interests at heart, too.” Do your homework. Get the details, know your competition, and connect with your market in a way that is unique...

Amid Declining Sales, Bravo Brio Brings in New CEO & Head of Marketing

Bravo Brio Restaurant Group recently named Brian O’Malley as CEO, effective Dec. 28. O’Malley will assume the top role upon the retirement of current CEO Saed Mohseni, who will also step down from his position on the company’s board of directors. O’Malley takes over as the company experiences a decline in guest count and comparable sales (more below). Much of this can probably be attributed to casual dining’s ongoing declines and consumer’s decision to move away from carb-heavy meals such as pasta. Earlier this year, DailyVista cited the company’s intention to continue higher traditional advertising and social media investments aimed at turning around declines. While the company isn’t looking to abandon “aspirational” customers (it will continue to run promotions such as the Share Our Love of Pasta promotion at Bravo! and the Art of Pasta promotion at Brio), it will also go after more affluent diners. O’Malley was previously leading marketing after the departure of Debbie Porter. In September, Bravo Brio welcomed Scott Johnson as VP and head of marketing. O’Malley currently serves as Bravo Brio’s COO, a position Connie Collins will assume. New marketer Johnson previously served as president and CMO  of AdHero and VP of marketing for Bonefish Grill. He was also VP of product innovation and marketing at Outback Steakhouse for almost five years. Additional Insight New Restaurant Launches In 2015, the company opened three Bravo! and three Brio restaurants. For 2016, the current plan is to open two Bravo! and one Brio (two in late Q1 and one in Q4). Sustained Struggles Bravo Brio’s sales have struggled in recent quarters. In fact, same-store sales declined 3.5% in Q3...

Why Your Outbound Sales & Marketing Strategy Fails to Generate New Business

Is outbound marketing getting you down? Are you seeing declining profits from your cold calls and outreach? Are your leads vanishing? Chances are good that your outbound marketing program is suffering from one of the common issues that plague all businesses from time to time. Outlined below are a few of the common mistakes sales professionals and marketers like yourself make that cause outbound strategies to fall down on the job. 1. You are Using Obsolete Data This is a major problem for companies, because when you are juggling time, expenses, employees and goals, it can be very easy to ignore data quality in order to focus on other goals. As a result, businesses often start their outbound campaigns with an inaccurate marketing list and unorganized prospecting database. This means opening up with a round of “who are you and do you exist?” calls which waste time on already low-quality leads. Your database of prospects should be complete, fresh and constantly updated, either with help from sales intelligence tools or through your own thorough research. 2. You Only Call Prospects Once This is a common problem for sales teams that have not developed or documented a repeatable outbound process or don’t have time to build out 7-15 touch points for prospecting. These days, contacting prospects more than once is not only okay, but it is often necessary to attract and engage profitable leads. To be clear, this doesn’t mean calling the same person over and over again or bugging someone to the point that you become a stage-five clinger. It means seeking out and calling contacts throughout the company to reach key...

Papa Murphy’s Snags Wendy’s CMO

Less than a year after being promoted to CMO, Wendy’s Brandon Solano will join Papa Murphy’s as CMO, effective Nov. 30. Solano joins Papa Murphy’s as the take-and-bake pizza chain looks to grow its brand across the country. Of his new role, Solano said: “I look forward to working with the team to leverage digital and precision marketing to enhance brand awareness and support the company’s initiatives and growth plans.” Prior to being promoted to CMO, Solano served as SVP of marketing for Wendy’s for a year. He joined Wendy’s from Domino’s, where he served as VP of development. He has also held marketing positions with Hershey, Kellogg’s and P&G. Per CEO Ken Calwell: “I think really the digital marketing strategy and online ordering will pull more heavily for us, starting in the second half of 2016.” While it may be too late to secure mobile dollars this year, the bulk of digital, radio and TV buys will occur around the rollout of the e-commerce platform in 2016 . So, sellers should start reaching out now to secure dollars.  Agency readers – approach Solano now with ideas to engage busy families, particularly millennial moms who tend to make meal-time decisions. Deloitte Digital is assisting with the redesign of the company’s website, including advanced online-ordering capabilities. Sq1 is still handling display and social and WongDoody is on creative. Just last month, PM named InnerWorkings to “strengthen the impact” of its point-of-purchase, printed marketing materials and branded merchandise. Additional Insight TV Breakdown Per iSpot.tv, PM has spent $32.4 million on national TV ads since January – roughly flat to the same period 2014 ($33.7 million). The most money has...

Guide to New Outbound Sales Strategies

These days, marketers are much more focused on inbound sales and marketing strategies; and why shouldn’t they? These days, prospecting is harder and prospects have more power than they know what to do with. However, it may surprise you to hear that outbound sales techniques are still powerful tools for business development, especially for small and growing companies. The key components of an effective outbound sales strategy, include: (1) building up accurate, actionable sales intelligence in target verticals, (2) strategic development and execution of repeatable sales processes. Churning up a lot of leads in a short amount of time will do you no good if they are mostly low-quality assets or if you don’t have the resources to pursue them. When creating a strong outbound campaign, here are several steps to keep in mind instead. 1. Set Times, Goals, and Resources Inbound campaigns have a little more leeway, because they are designed more for brand-building and lead creation over a long period of time. Ideally, the goal with outbound marketing is to drive more immediate results, which does require some heavy lifting during the initial planning and documentation period. You need to create start dates, end dates, and specific goals. Perhaps most importantly of all, you need to develop the right resources to draw from. There are a lot of horrible cold call customer lists out there: As a general rule, never buy lists or use old customer emails, etc. from a few years ago. Every year, that data degrades 70 percent so you’ll pretty much just waste more time, and frankly, we want better for you. Start fresh, by either investing...

Hertz Hires Former Nationwide Marketing Head as CMO, Looks to Revamp Strategy

Following the arrival of Chief Revenue Officer Jeff Foland, Matt Jauchius has been appointed CMO of Hertz. Jauchius spent the last nine years as CMO at Nationwide Insurance. He left the insurer earlier this year after all of the backlash from the “Make Safe Happen” (“Dead Kid”) Super Bowl ad. In his new position at Hertz, Jauchius will lead an ad budget that totaled $199 million last year, according to SEC docs. Earlier this year, digital media planning and buying moved to FKQ, which has handled the same duties for Dollar Thrifty for years. However, Jauchius (like all new CMOs) should still evaluate this part of the business, as well. Hertz also spun-off its equipment rental business to focus on car rentals. So, expect marketing investments to increase and skew heavily towards maintaining/growing share in the on- and off-airport rental markets, where traditional car renters are facing newcomers like Silvercar and Car2go. As such, agencies and sellers should pitch strategies for engaging both business and leisure travelers. Additional Insight Media Spend: Hertz spent $21.5 million on measured media last year, about half of what was spent in 2012, according to Kantar Media. Ad spending has continued to be down this year, partly because Hertz slashed $100 million from operations for 2015. The cuts reportedly came  “primarily through reduced general and administrative expenses, reduced information technology and capital investments, a reduction in external strategic adviser expenses, and a previously announced freeze to its pension plans,” the company said in a statement. Most of Hertz’ ad budget in the first half of the year went to display, followed by magazines, network TV and national spot radio. TV Breakdown: Only...
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