Episode C.020 Determining Marketing & Sales External Objectives

Introduction
This week we continue our focus on the post pandemic re-opening of business. Other than dealing with customer and employee fears, there is nothing different or special about today's show except urgency. Unlike other expansions at the end of a contraction, this was not a structural - it was imposed. Normally a contraction (recession) is a result of over supply and decreasing demand awaiting a unplanned event to prick the bubble. In this case the demand still exists with diminished supply and we have sufficient information to predict the beginning of an expansion. The purpose of IBGR programming this month is to prepare the entrepreneur for the turnaround. it will require acting with urgency over the next 4 months.
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Show Objectives
Explore a list of potential objectives for increasing lead conversions, increasing qualified leads, increasing close ratio's, increasing social media reach and converting to sales, increasing post sale revenue by existing customers, decrease the cost of poor service quality.

What You Need to Know​
Marketing

• What channels are you going to use to reach potential customers
• What are your current numbers and what is your target for 4 months, and then by month

Sales

• What are current numbers in each of the channels for qualified leads, close ratio, average time in the funnel, and average sales discounts
• Create a financial target for sales over the 4 months and by month
• Working backwards, determine how many potential customers do you need to reach in marketing to produce the desire revenue

Service

• What is the lifetime value of each of your customer segments
• What percentage of wallet do you currently have for each customer segment & customer
• What are current satisfactions scores with customers by segment
• What are defect/recovery costs for failing to delivery on promise by segment

What You Need to Do
Marketing 

• Increase target customer awareness by 20%
• Increase Twitter Follows by 10%
• Increase Facebook Likes by 10%
• Increase LinkedIn Connections by 10%
• #1 or #2 in brand attributes when compared to competitors
• 10% of leads converted to qualified leads

Sales

• Close rate for qualified leads from Twitter - 10%
• Close rate for Twitter Follows - 10%
• Close rate for Facebook Likes - 10%
• Close rate for LinkedIn Connections - 10%
• Close rate from email campaigns  - 20%
• Increase close ratios of all qualified leads from 30% to 40%
• Decrease average Sales Funnel Time from 15 days to 10 days
• Decrease discounts provided in Sales Process to close deals from 15% to 10%
• Increase sales revenue from $8,000 a month to $10,000

Service

• Increase percentage of customer wallet by 20% in each segment
• Increase percentage of renewed service contracts by 20% in each segment
• Recognize additional upsales by $10,000 from all segments
• Increase delivery on promise scores by 10% from 85%
• Decrease the cost of recovery 10% from 15%

Next Show: C.021 Brand Perception