The current volatile markets and disruptive technologies largely dictate how our future clients and business prospects are making buying decisions. As a result, many companies struggle to develop strategies that generate a consistent flow of leads.  Small to mid-sized manufacturers are struggling more than most as many don’t have a marketing or lead generation department.

What’s holding you back?

To get the spectacular ROI you are dreaming of, you have to identify the sales and marketing constraint that is stalling growth.

Sales problems are often tackled with single-focused, short-term, quick-fix solutions that only address symptoms – initiatives such as a new website, CRM or sales training.

Of the 18 marketing and sales capabilities that can sabotage growth, the one most common for manufacturers is the strategic marketing capability. This step entails gaining clarity about your ideal target market, client, and marketing message.

Here are 3 steps you can take to start gaining clarity.

Step 1: Let your data do the talking

This step will require some effort, but once completed, will assist you in a number of problem areas.  Careful analysis of your existing company data can unearth valuable information to assist you in defining your competitive advantages.

•    Identify the industries and business sectors that generate most of your revenues at the highest gross margins.

•    Assemble accounting records in a spreadsheet-format.

•    Include customers’ names, purchasing history and gross margin.

•    Add columns for industry, decision maker title, and reason for purchase.

In addition, obtain input with a well-designed e-mail survey, asking customers and lost prospects to rate you in key areas such as quality, price, delivery, service, expertise, and technical support.

Identify focus markets or industries

Define and evaluate trends that you’re uncovering in the data:

•    What types of companies generate the best sales for you?

•    Do you do better in the public, private or government sector?

•    What is the average size of the company where you excel?

•    Are there any common traits of the geographic locations?

•    What common needs do these industries share?

•    What common business issues are they facing?

Identify ideal decision makers

Identify the specific decision makers where you’re most successful:

•    Which individuals are providing high revenue-high margin decisions?

•    What title and personality type does your company work well with?

Identify their key concerns

Next, find out what keeps your target client up at night:

•    Do client and prospect surveys to gather insights into their strategies.

•    Conduct Strategic Executive Interviews to garner their perspectives.

Identify current source of leads

Repeat success by examining past lead sources:

•    How did current clients find you: direct referral, trade shows, internet or general sales and marketing efforts?

•    Which leads convert to business faster?

•    Would new target industries need a different strategy?

Step 2: Communicate, Collaborate and Control

When communicating with your clients you should send out clear, effective marketing messages.  Remember the following

•    Control the situation by ensuring that your prospect understands how your services can offer solutions to help them solve their problems.

•    Communicate with sensitivity; guide the client and/or prospect to share their concerns and worries.

•    Create a collaborative environment where you can discuss best-fit options.

Step 3: It’s time to deploy your lead generation strategy

You have gathered and scrutinized the information, and now you are ready to launch your energized lead generation strategy.

•    Focus your energies, because you know which industries, markets and decision makers you should target.

•    Spread the marketing message that you have created that speaks directly to your clients.

•    Your sales team has been prepared with power-packed questions to lead the sale dialogue.

Following the above steps, your marketing and sales teams should have clear direction and focus to guide your company to greatness.

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