John Wanamaker, a succesful 19th century US merchant is attributed by many with having uttered the legendary phrase; “Half the money I spend on advertising is wasted; the trouble is I don't know which half.”
Well sadly for John, it's a shame that he's not around today. With the advances in technology over the last 5-10 years, it's now possible for you to have a high degree of certainty with how successful your marketing budgets are being spent. But with John's words ringing in your ears, how confident are you that your online marketing is performing at its best when measured against external benchmarks?
If you own or run a small or medium sized business, you'll probably agree that your company website is likely to be the main source of your sales leads. So how confident are you that your website is achieving its optimum performance and generating a strong pipeline of qualified leads that your sales team can rely on to continue to drive your growth?
Having worked with lots of small business thoughout my career, I have frequently noticed that many are not aware of what 'good' really looks like when it comes to their online marketing and lead generation activities. It seems common for sales teams in businesses to be scratching around at the end of each month, struggling to close deals to 'hit their numbers', with the marketing guys often sitting back and saying 'well we did our our job, why didn't you do yours'. When in reality, the issue is that the sales and marketing teams are not collaborating together to define common lead generation pipeline numbers to help them hit their 'joint' objectives at the end of each period.
As a marketeer myself, I know that we are frequently guilty of 'hiding behind the numbers'. I have often heard colleagues 'bragging' about how many contacts they have in their database, or how many visitors they have generated each day, week or month, but what they should be really be 'talking-up' is their conversion ratios, or in other words, how many 'warmed-up' leads they are moving through each stage of their purchase funnel - ready for handover to their sales colleagues to close.
As a business leader, the key issue you must be on top of is that you need to know what good looks like to ensure that your sales pipeline is performing at its optimum, not just in terms of how many web visitors you are achieving, or how many deals have been closed, but every conversion step in the process along the way.
Fortunately, these days, unlike John Wanamaker, you have endless sources of data available at your fingertips to help you pin-point where the issues are in your sales pipeline, but do you know what good looks like in terms of your conversion ratios?
At Stratagem&Co, we believe that being able to quickly assess and evaluate the 'health' of your sales pipeline is a key component to you achieving and sustaining your growth. That's why we've created high quality business health check tools to help you to receive the expert advice you need to achieve your business goals in an affordable and easily accesible way.
How does it work
When you sign-up for a Stratagem&Co Internet marketing Business Health-check you will receive:
- A web link to a detailed online questionnaire - written by a member our panel of subject matter experts.
- Once you have completed the questionnaire, you will instantly receive an overall 'health-score' for the questionnaire that you have completed.
- Shortly afterwards, based on the answers you have in the questionnaire, you will receive a detailed and far-ranging report, again, written by one of our industry experts, that will help you to diagnose the issues that you have in your business and provide you with advice and links to additional resources to help you resolve the challenges that you are facing.
- Within 48 hours of completing the questionnaire, you will receive a call from a Stratagem&Co Partner to arrange your follow-up Health-check Consultation.
- During the Consultation you will be able to discuss and explore any issues that have arisen in the report and address any questions that you may have.
- If any follow-up actions are identified, your Stratagem&Co Partner will then work with you on an individual basis to help you to resolve any further issues that you may have and develop bespoke solutions for you that closely fit your business needs and resolve your challenges.
However we support you, the focus for us is to help you to identify and resolve the blockers that are stopping you from getting you to where you want to go – then it’s our promise to deliver a bespoke solution that fits around you and your organisation to drive your business growth.
To discuss the topics raised in Mark's blog, or to ask any questions, please complete the form below and leave your comments.