Back to Basics: Three Tips to Boost Revenue in the New Year
The new year brings new opportunities, new challenges, and returning obstacles that wish to haunt you for yet another year. Have no fear, though. Commit to learn from past mistakes, refine your well-practiced sales process, share successes and failures, and you’ll be so much more valuable to your customers, prospects, and company. As you kick off this new year, give these battle-tested tactics a steady shot to boost revenue and protect one of your most valuable assets — time.
Recommit to Qualification
“Happy ears” are so last year. How often did poorly-qualified opportunities steal quality attention away from your stronger ones in the past 365 days? You’ll probably never really know and it’s likely more than you’re willing to admit.
Take the time early on in your sales processes to learn the good, bad, and the ugly about potentially doing business with each prospect. Is there a true pain you’re addressing? Does the agency really need what you’re offering? Does your solution align with the mission of the agency?
Thorough, consistent, and early discovery will identify motivations, business and personal pain, legal and security gaps, procurement intel, and will require a heavy dose of patience. It is far better to disqualify an opportunity that doesn’t align with your capabilities than to let it distract from the more qualified ones. A strong qualification filter on the front end of each opportunity will pay dividends throughout the year. For RFPs, you can leverage Bid Score™ to qualify bid opportunities before you ever invest in a response.
Have a Plan
What multiple of pipeline will you need to hit quota? What is the gap in your current pipeline multiple versus where you need to be? How will you leverage existing customers, lost opportunities, or strategic account targets to get to your number? Generating a simple plan that addresses these basic questions will go a long way to ensuring you can hit and exceed your number. Don’t get left behind by leaving your revenue efforts to chance.
Leverage this free template to organize your plan of attack for your territory or book of business and set your team up for revenue success in the new year.
Remember the Mission
You are on a mission to help elevate how the all-important public sector operates. In the coming year, the U.S. public sector will spend around $200 billion on I.T. to advance public health, safety, transportation, security, operations, and countless other services. This number may be around $430 billion globally.
You will no doubt help drive this vital spending in the coming year and your success will in large part depend upon how well you can align your company’s solutions to the missions of the agencies you target. Ensure that you can clearly communicate how your solutions address the public agency's mission and, if possible, the unique directive of the specific department you're calling on.
As you carefully consider the buyer's responsibilities through the lens of their agency's mission, you can better formulate a tailored value proposition and approach that will increase your chances of winning the prospect's time, trust, and influence.