By Ahmed El Dabaja -When we talk of predictable revenue, we must realize that we’re looking at more than just a plain, regular sales team. The point that must be made here is that predictable revenue cannot be maximized or even escalated, for that matter, if what we have is just a common formula for sales – outbound prospecting. It is not that plain to see that predictable lead generation has a lot to do with revenue, though it may not be evident to most of us that inbound marketing can actually lead you by the hand to maximize predictable lead generation.
“Having worked in numerous roles for digital agencies, ahmed El Dabaja has a wide and varying knowledge of many different disciplines. His focus is on driving business growth using inbound marketing strategies.”
So, before we go and see how we do it, let’s see what we’re actually basing our discussion on.
What is Predictable Revenue?
To put it in the simplest of words, it is an outlined frame for bringing in consistent revenue at a year-over-year level. It basically aims to formulate a strategy for business growth based on revenues and so, it takes you off the slippery road of haphazard action and guesswork. Through this set of strategies, you will be predicting the extent of revenue that your business generates .
The essence here, is to have a system in place, otherwise, prediction is not possible under any circumstances.
So, what about Revenue Generation now?
Most businesses put the onus of generating revenues on the sales teams. Accordingly, the only thing that is relied upon is usually outbound prospecting – buying email lists and expecting your sales people to push the sales through.
What we forget to pay attention to is the inbound brand of marketing. Your marketers work on a different layer of buyers than the core outbound prospectors do.What your marketing team do is bring in leads from other areas of the internet using a variety of marketing tactics and tools.
Here is What Outbound Prospectors Do
The sales reps busy themselves in creating entirely new traffic from those who either have never been in contact with your business, or have gone into the list of dormant buyers. So, cold or inactive accounts are their sources of lead generation. Needless to say, the list of sources may be very long, but the conversions turn out to be pretty tiny, compared to the extent of lead conversions from inbound marketing. So, the outbound sales process is a rather long and slow one that definitely needs a lot of patience and a proactive stance. Take 4 to 6 months as a staple minimum time for outbound prospecting to move up from cipher to a pipeline generation that is consistent. Mind you, it could take even longer if we are talking about revenue. Discover if your sales reps are leaving money on the table by reading this blog.
Outbound reps just build up opportunities for the account executives, so that they can close sales. So, one more thing that is crucial to lead generation and conversion is this kind of sales communication. Since the deal isn’t closed by the one who generates the lead, the communication needs to be crystal clear. Be it communication regarding strategies or targets, expectations must be set right. If the roles and responsibilities are not clearly defined, there are bound to be clashes, which so often occur, leading only to delay in and disruption of the sales cycle. Specialization without clearly demarcated roles can often result in confusion.
Here is what Inbound Marketers Do
These people actually foster a quicker process of lead generation, thus adding substantially to maximizing predictable revenue. Inbound marketers know their audience and are acquainted with their preferences very well, since they are the ones that created the buyer personas, in the first place. So, everything on your website and in the stores has been developed from a customer-centric point of view. And all this has been
done predominantly through content – adverts, blogs, articles, guest posts, social bookmarking, SEO, social media, content marketing, and more. What you have done is that you have created very much sharable content and become highly visible on the web, especially in the relevant industry that the customers are looking at. The call-to-action at the bottom of every one of your website pages and at every piece of content that you publish, paves a smooth way for revenue generation in the most implicit yet effective ways.
This readies you for managing the inbound leads. You have all the right ideas about how to form, categorize, keep up with, and grow your Marketing Qualified Leads as well as your Sales Qualified Leads. You already have your workflow in place to proceed with. You even have your email lists ready (those with active and returning members, as well as prospective customers who you are already helping in their buyer journey), so your email campaign is likely to be pretty strong as well.
So, now that you have been measuring your content through mapping, you also have the analytics with you. Voila! You have your KPIs too. All this leads you to better decisions regarding marketing, thus letting you stand tall when it comes to maximizing predictable revenue for your business.
This kind of marketing actually automates your efforts, which in turn almost guarantees that your sales cycle will be kept alive and kicking. Since you are offering personalized experiences to you customers, building a regulated pipeline is easy for you. The whole idea behind automation is that the customer will know that you care, and so, they are more likely to buy from you. E-commerce giants like Amazon do exactly this. And, it goes without saying that such companies do enjoy sky high lead volumes and revenues.
Point in case – marketing is very well capable of fostering revenue generation, much more and faster than sales/outbound prospecting may ever fetch for your business. And, the route that entrepreneurship is taking right now, marketing can take you places, and it certainly will.
Discover how you can set your business up for success with inbound marketing by downloading our Gearing Up For Inbound ebook now.