Rick Volz
Building a new sales organization to enter a new market, whether to generate business from a new product/service or to cover a new geography can be challenging. You no doubt have done your research and made your projections that suggest the market is ready for the new offering. Or, you believe you can drive growth with more sales coverage. But beyond market saturation campaigns how can you REALLY jumpstart your initiative and start out in high gear? B2B marketing analytics is the answer.
What can B2B marketing analytics do for you? How about identifying the best opportunities for market share growth in the new territory? How about pointing your sales team toward the specific customer and prospect targets with the most potential and highest likelihood to buy your new product or service?
B2B Marketers can build a reliable and sustainable pipeline by using predictive marketing analytics and comprehensive third party data sources to identify the best opportunities to cross-sell your customers and acquire new customers from your target universe. Building a predictive model to find prospects with the highest likelihood to close can create a go to market advantage. Once your entire market of potential prospects is scored by that model, you can focus your sales and marketing efforts to drive the growth you anticipated. Instead of starting from idle, you will be flying down the road to market expansion in fifth gear!
You say the B2B sales process is too complicated for that to have much of an effect? You can’t believe that an approach that seems to be appropriate for B2C marketing efforts can be effective for a business targeting other businesses?
Well, companies have in fact used this very approach to attack a new market. Their results? What would you say to new customer growth of 30%? How does a sales productivity improvement of 50% sound? Not bad for a new product launch, huh?
So if you are planning to develop a new market, put B2B marketing analytics on the test track and see how fast you go. Then, if you have a large sales force, a diverse product/service portfolio and have the potential to sell to thousands of prospects, get your whole organization up to speed with B2B marketing analytics and drive the fast lane to growth and profitability.
About the Author:
Rick Volz is a Business-to-Business Practice Leader for SIGMA Marketing Group, responsible for thought-leadership and business solutions in the B2B market. Follow Rick on or connect with him on .
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{ 1 comment… read it below or add one }
Nice post Rick. One thing that we are doing in our team is to frequently introspect our own processes and constantly keep on re-estimating. One of the other big challenges of venturing into new frontiers is the fear of the “unknown”. No matter how good your predictions might be, only a single point of failure can throw all your investment down the drain… What do you think about this “re-estimating” technique? I am not sure if that’s an industry practice or is it something that’s only working for us?