Companies across the world is stumbling over problems with prospecting on a daily basis, and try to understand how do I reach a million or a billion dollar pipeline today?
The quesiton comes down to your scalability, your ability to focus, processes and most importantly the reliability of your prospect data! Companies are trying to define what is their ideal customer profile every single day, and from my experience most companies actually got that wrong, that includes myself. I wondered and tought i was attracting the right customer mass and targeting, but as our company grew we quickly realized our strategy has to be redefined and the customers we target has to be clear for our sales team.
Below will you find a recipe of success and building a million dollar pipeline today.
1. The Marketo foundation
When Phil founded Marketo back years ago he had a clear strategy, they had to own the Enterprise segment and move to Midmarket after, the quite opposite strategy of many SaaS Companies.The founding team knew their market and was clear on their strategy, and was able to build a million dollar pipeline with deals over night. In fact they executed the strategy so well that Oracle started market that they got a Marketo killer when they where presenting to Enterprise companies. Going for the enterprise allowed Marketo to build a broad parternship channel with Ad agencies globally that will dirve their sales, and this is one drive that made them succeed faster than any competitor. Ofcourse knowing your marketing is crucial, but know data on your prospects and define the process when reaching a broader market is the major difference between the new winners and old giants that only has one gain that is Brand and Cashflow.
2. Identifying your Customers
Building on the learnings from Marketo they choose to narrow down their target and listen to the potential customers and learn about their needs and they identified the Enterprise market as being their desired target. Being in a farily competitive market where many players such as Hubspot and Infusionsoft among other choose to target the SME’s and Mid market and the Enterprise market seemed less crowded. One thing that Marketo learned is Marketing Automation often came from the advertising agencies so getting their trust and making them partners was key to success. Not knowing your target you company would not leverage such a strategy, and knowing the target getting powerful outreach systems such as Sequences by Salestools with it’s data companies can scale faster.
3. Build a prospecting strategy that is repeatable
Building a repeatable prospecting system starts at learning from identifying your customers, with Salestools are you able to target companies paying for Salestools and Marketo at the same time, meaning they got a huge budget. Or target Magento and Shopify companies in E-ccomerce and double down on these accounts right away, building a real million dollar pipeline in the matter of hours and repetition. Data plus processes that is helping you is what makes the world class difference.
4. Reach out, sell, sleep and repeat
Learning what works and identify through analytics what is the most actionable approach will take your organization far. The ability to pound, reach out but in a targeted and effective way takes your organisation further than you might believe, it is hard in the start but pays off quickly. Knowing your data and process is reliable makes it far easier to take actionable insights on what subject line, what call approach, who to contact and learn from that. It is all about building million dollar pipelines today, and not in month. You need to start right away and keep your focus, Reach out, sell, sleep and repeat!