Everyone Needs Our Solution, right?
You have a great product, solution or service. You’ve had a bit of traction with your target market and now you are ready to launch a full scale campaign which should rev up your sales engine. You launch your campaign and “nadda”. No leads or website hits happen. You were expecting, if not an avalanche of leads, at least a strong flow. But your marketing-mix isn’t attracting prospects to your website or generating leads for your Sales team. What’s the problem?
What Mom Told Us about the Word Assume
Over the past 20 years, the SOMAmetrics Sales Optimization team has worked with 100 Software and SaaS companies to improve our client’s Marketing and Sales processes, implement Marketing and Sales Best Practices and increase revenue. Nearly all of the 100 companies, we helped, had an issue with their message. Nearly all of these companies assumed that they knew what would resonate with their target prospects. They had created the best service, product or solution and knew that they could effectively communicate the efficacy of the service, product or solution to their prospect base. They were wrong. In every case, the assumptions were made in a black hole. The assumptions were made by individuals at these companies and tested on customers who had already made a purchase. The “early purchasers” were not technology adverse and had some need that could be filled by the solution. For the greater market, the more conservative buyers, the assumptions were wrong. If companies could stay in business based on a few “risk-adverse” and technology-savvy buyers, they would all be making money hand-over-fist and wouldn’t need support from Consulting Practices like SOMAmetrics.
Ask and it is Given
If you aren’t getting leads or if your prospects aren’t lingering on your site, you may have a problem with your message. If your message doesn’t resonate with prospects, your:
- Key words won’t attract prospects or prospects won’t spend time on your site because the key words don’t match their search requirements
- Lead flow will be low to non-existent
- Telemarketing team will have to make cold-calls (which is a HUGE waste of time and money) because they don’t have leads
- Telemarketing team will be frustrated because they can’t get any traction with prospects
- Sales team will be frustrated because they aren’t closing any deals
- Sales Funnel won’t be large enough to generate the revenue you need to meet your corporate objectives
- Deals will be too few or non-existent
So, what do you do? Ask your prospect base what they think about your message. Launch an online survey to gather the information you need to improve your message.
You will be surprised. You can expect a 1.5%-5% response rate, especially if you offer a small honorarium to answer your questions. No, a corporate tee-shirt won’t do. You’ll need to offer cash ($40, $50, $100) to entice your target prospects to answer your survey.
The Building Block to Success
Get your best marketing, sales and telemarketing folks in a room and hash out a survey that will address your assumptions. Questions should, for example, revolve around your assumptions about:
- Prospect Demographics
- Pain or Need
- Price Points
- Interest in Solution
Once everyone is confident that you have a solid survey, send it to your target prospect database. Fifty or more surveys will give you enough data to help you re-think your assumptions and improve your messaging. Once you do, your lead flow will increase and your web traffic will pick up.
It’s an easy exercise. Make sure that you survey your target base, at least twice a year. Allocate a budget for this market research. It will be well worth your time and money.