Sustaining traction for your start up

Sustaining Traction for Your Startup Matt Heinz President, Heinz Marketing Inc matt@heinzmarketing.com @heinzmarketing @heinzmarketing Housekeeping • Copy of this deck • Offers for you • • • • • Successful Selling Modern Marketer’s Field Guide Content Marketing Best Practice Guide B2B Sales & Marketing Metrics Best Practices Guide Send me an email (matt@heinzmarketing.com) or hand me a business card with what you want @heinzmarketing Last Slide First • Sustaining traction requires HAVING traction • Focus on systems & processes • Is it repeatable, scalable and predictable? • Be afraid, stay edgy • Measure, optimize, test, prove, repeat @heinzmarketing Creating Traction @heinzmarketing A Culture of Failure @heinzmarketing What is your proven playbook? @heinzmarketing Keys to sustaining traction • Systematize what’s working @heinzmarketing Five keys to a better plan Do the math Create a clear customer profile Map the sales and buying process What can be automated or process-driven? How will you measure it? (quantify what success looks like) @heinzmarketing Systems vs serendipity @heinzmarketing Keys to sustaining traction • Become less reactive @heinzmarketing Keys to sustaining traction • Stay afraid @heinzmarketing Keys to sustaining traction • Review & reporting rhythm @heinzmarketing Keys to sustaining traction • Control bloat @heinzmarketing Put your marketing budget on a diet • Combine PR and social media • Hire your customers • Use more content (yours and theirs) • Segment & stay in touch • Build and launch remarkable products @heinzmarketing Keys to sustaining traction • Hire slow, fire fast @heinzmarketing Keys to sustaining traction • Keep learning @heinzmarketing Five common startup sales mistakes Hiring a VP of Sales first Spending money on marketing too early Building a sales process that doesn’t map to how your customers buy Selling beyond the early adopters Building a sales team too fast, too early @heinzmarketing Calculating what you need Assumptions Product A ASP $ 15,000 Product B ASP $ 50,000 Opp/Close % 33.0% Lead/Opp % 10.0% Product A CPL $ 15 Product B CPL $ 35 Q1 2010 Q2 2010 Q3 2010 Q4 2010 TOTALS Product A Sales # 50 56 63 69 Product B Sales # 10 11 38 58 65 73 80 276 Total Sales # 238 Product A Sales $ $ 742,500 $ 841,500 $ 940,500 $1,039,500 $ 3,564,000 Product B Sales $ $ 412,500 $ 453,750 $ 495,000 $ 536,250 $ 1,897,500 Total Sales $ $1,155,000 $1,295,250 $1,435,500 $1,575,750 $ 5,461,500 Product A Pipeline # Product B Pipeline # 150 25 @heinzmarketing 170 190 210 28 30 33 Leads & Opportunities Stage Definition New lead, has not been attempted or contacted by sales Sales Next Step(s) Begin follow-up to get on the phone live to qualify as opportunity Marketing Next Step(s) Provide scripts and response offers as needed to increase call-backs Open/Not Attempted Sales has begun the process of following the lead follow-up process to reach the prospect live Continue follow-up attempts via phone, email, "zero out" to reach prospect Provide scripts and response offers as needed to increase call-backs Attempting to Contact live Prospect has expressed interest in ABC Company and/or achieving better results, and is Once prospect has been qualified, either move into a "Qualified" Provide collateral, case studies and other information as needed to help interested in learning more; full qualification criteria intent/purchase timeline still unknown opportunity or move to Nurture (if timeline is long-term or undetermined) prospect determine sales intent Interested Leads Prospect is interested, but there is no near-term opportunity to buy (prospect may have other no action Drip marketing to prospect 1-2 times per month with value-added offers, immediate priorities, or may just need more time to consider interest/intent) until they're ready to engage in a short-term buying cycle again Nurture Haven't been able to get ahold of prospect after repeated attempts no action Drip marketing to prospect 1-2 times per month with value-added offers, until they're ready to engage in a short-term buying cycle again Unresponsive No Further Action Lead is not a qualified prospect no action no action Prospect has a need & budget, and is actively evaluating solutions Get demo commitment, plan next steps and timeline to buy (or at least Provide additional support tools as needed (case studies, etc.) to help make decision) with prospect accelerate prospect interest and buying cycle Get permission to present formal proposal Provide additional support tools as needed (case studies, etc.) to help Qualified Demo has been scheduled or completed; working through objections & questions accelerate prospect interest and buying cycle Presentation & Demo Opportunities Formal proposal is in process or has been delivered outlining terms, services, fees Get verbal commitment to buy pending finalization of terms no action Prospect has verbally agreed to business; both sides are working through final Sign, seal and return baby! no action Agreement has been signed and returned victory lap no action Opportunity has stalled indefinitely or is dead no action Drip marketing to prospect 1-2 times per month with value-added offers, Proposal Negotiation Close legal/term/service/fee details until they're ready to engage in a short-term buying cycle again Closed Lost @heinzmarketing Custom messages by role Audience Drivers PainPoints ValuePropositions(bullet points) KeyMessages Drivers PainPoints ValuePropositions(bullet points) KeyMessages Vertical #1 CEO IT/CIO CFO CMO Audience Vertical #2 CEO @heinzmarketing If you want more… @heinzmarketing Thank You! Matt Heinz President, Heinz Marketing @heinzmarketing matt@heinzmarketing.com @heinzmarketing [...]... to sustaining traction • Stay afraid @heinzmarketing Keys to sustaining traction • Review & reporting rhythm @heinzmarketing Keys to sustaining traction • Control bloat @heinzmarketing Put your marketing budget on a diet • Combine PR and social media • Hire your customers • Use more content (yours and theirs) • Segment & stay in touch • Build and launch remarkable products @heinzmarketing Keys to sustaining. .. Build and launch remarkable products @heinzmarketing Keys to sustaining traction • Hire slow, fire fast @heinzmarketing Keys to sustaining traction • Keep learning @heinzmarketing Five common startup sales mistakes 1 Hiring a VP of Sales first 2 Spending money on marketing too early 3 Building a sales process that doesn’t map to how your customers buy 4 Selling beyond the early adopters 5 Building a sales... attempted or contacted by sales Sales Next Step(s) Begin follow -up to get on the phone live to qualify as opportunity Marketing Next Step(s) Provide scripts and response offers as needed to increase call-backs Open/Not Attempted Sales has begun the process of following the lead follow -up process to reach the prospect live Continue follow -up attempts via phone, email, "zero out" to reach prospect Provide... evaluating solutions Get demo commitment, plan next steps and timeline to buy (or at least Provide additional support tools as needed (case studies, etc.) to help make decision) with prospect accelerate prospect interest and buying cycle Get permission to present formal proposal Provide additional support tools as needed (case studies, etc.) to help Qualified Demo has been scheduled or completed; working... live Prospect has expressed interest in ABC Company and/or achieving better results, and is Once prospect has been qualified, either move into a "Qualified" Provide collateral, case studies and other information as needed to help interested in learning more; full qualification criteria intent/purchase timeline still unknown opportunity or move to Nurture (if timeline is long-term or undetermined) prospect... needed (case studies, etc.) to help Qualified Demo has been scheduled or completed; working through objections & questions accelerate prospect interest and buying cycle Presentation & Demo Opportunities Formal proposal is in process or has been delivered outlining terms, services, fees Get verbal commitment to buy pending finalization of terms no action Prospect has verbally agreed to do business; both