Revenue growth focused posts

Financial Advisors (2 OF 9): Craft Market-Ready Service Offerings and Segment Messaging

, ,

This post is updated. The original post was published in 2017.

Personas represent the needs and behaviors of your ideal clients and are helpful in shaping your positioning and messaging.

We recently published the 2020 Edition of the Financial Advisor SMART BOOK™.  This resource is a comprehensive guide to help independent financial advisors build an ‘independent difference,’ that is, a strategy-led, systematic growth program with 9 proven strategies. The goal is to help advisors:

  • Increase Volume: Generate More Visits & Inquiries
  • Increase Client Value: Get Better Qualified Inquiries
  • Increase Velocity: Increase Conversion Rates
  • Increase AUM and Revenue: Optimize Engagement for AUM growth and Revenue Impact.

[Strategy 2 of 9] Valued Offering ~ Craft Market-Ready Service Offerings and Segment Messaging

You will be surprised how effective it is when you communicate offerings based on specific personas that represent the needs (or pain points) and behaviors of your best clients.

Read more

Pivot to the NEW NORMAL – Accelerate Revenue with Tech-savvy Sales Talent and Tools

, , ,

Do you have a focused SALES business recovery plan?  Does it allow for current year goal achievement post-crisis? 

Most businesses have a business continuity and resiliency plan that allows for continued operation in the event of an unforeseen circumstance, but most businesses do not have a revenue recovery plan!  The pandemic crisis has forced new ways of working and impaired business performance, but companies must anticipate coming out of the crisis and being  prepared for the new environment. This is the time to take advantage of the crisis by examining and addressing ineffective and unproductive elements of your revenue architecture including systems and talent.

An informal survey of CXO’s conducted by Revenue Architects over the last 6 weeks indicates that sales and marketing organizations are functioning differently through the uncharted waters of the COVID-19 pandemic.  The results confirmed that 90% have been materially impacted. 

  • 60% of participants stated that they have or plan to layoff/furlough part or all of their sales and marketing teams
  • 50% stated they do not have a formal recovery plan to return to Pre Covid-19 performance.
  • 100% stated that working remotely had a positive impact on their productivity while also representing new management challenges
  • 80% indicated that it was harder to bring some staff given the reverse incentives of government programs.

Conducting business under current constraints with social distancing, remote working and the reduction of capital expenditures is a new challenge. It can be harder to sell if you are not in front of the client. Yet even before the pandemic the skills and profile of sales superstars were changing. And the B2B buyer, already digital savvy, was becoming more educated and self-sufficient using online resources to self-sell. 

“If you give me a techno-savvy, Internet-friendly, google ranked, instant responding, collaborating, differentiated, social media savvy, value-driven, a value-based messaging, salesperson who uses the voice of the customer testimonials and is interested in how the customer profits…then, I will give you sales results”.  

 

But how do we infuse these talents and skills along with sales best practices into our selling team and drive sales, take market share, and position for the upcoming market expansion?

Read more

Financial Advisors: Define Ideal Clients and Market Segments

, ,

Market Success

This post is updated. It was originally published in 2017.

 

Independent Advisors need a strategy-led, systematic growth program.

We recently published the Financial Advisor SMART BOOK™, 2020 Edition.  This latest edition has been updated and outlines the Revenue Architecture Methodology that financial advisors can use to add greater structure and predictability in their revenue engine. We introduce nine steps and advisor-specific marketing and sales strategies that are helping advisors capture client value.

The comprehensive guide helps independent financial advisors build a strategy-led, systematic growth program with 9 proven strategies. The goal is to help advisors:

  • Increase Volume: Generate More Visits & Inquiries
  • Increase Client Value: Get Better Qualified Inquiries
  • Increase Velocity: Increase your Conversion Rate
  • Increase AUM and Revenue: Optimize Engagement for AUM growth and Revenue Impact.

Having a vision and game plan for growth is important for financial advisors to thrive in a challenging marketplace. The Smart Book™ outlines how you can achieve more predictable and sustainable revenue growth by establishing a Revenue Architecture that fits your firm. The key is to commit to a systematic sales and marketing process by following the 9 proven strategies to guide your approach.

[Strategy 1 of 9] Markets & Buyers – Define Ideal Clients and Market Segments 

This may seem obvious, but we are surprised how many advisors we work with have not done a marketplace assessment, defined segments, and personas.

Read more

Chief Revenue Officer Role Description

, , , , , ,

Chief Revenue Officer

The CRO is Responsible for Predictable and Sustainable Revenue Growth

This post is updated. It was originally published in July 2016

Today, companies recognize the need for a company-wide revenue focus and a more integrated approach across marketing and sales. The CRO oversees the traditional responsibilities of the VP of Sales and the Chief Marketing Officer and is a member of the senior team overseeing go-to-market strategy and execution. The CRO is  responsible for aligning company resources, defining differentiated go-to-market strategies and delivering on the company’s revenue performance goals.

Read more

10-Stage Integrated Marketing and Sales Process

, , , , , , ,

Structured or Unstructured Process?

Some businesses need a highly structured sales process that dictates specific activities sales reps need to execute.  These might include things like a discover call, a demo, a pricing meeting, proposal, signature meeting, etc. Often a structured process is needed for more junior sales reps and where the volume of sales activity is high and the dollar value of the sale is low.

For complex sales cycles and when selling professional services, sales teams do not need a highly structured process. For these teams, a stage-based marketing and sales process works better.  In each stage, there are a range of activities, strategies and tactics teams will use to engage the buyer and DMU (decision making unit) across the buyer’s lifecycle.

Buyers Don’t Care if it is Marketing or Sales

The buyer wants a simple and clean buying process. They don’t care if they are engaging with your marketing a sales team. They are simply following their buying process – often in an unstructured and unpredictable way.  The typical stages of the buyer process are:

Read more

Revenue Growth Architecture

, ,

Accelerated, predictable and sustainable revenue growth requires alignment around an architecture for marketing and sales and a commitment from the senior team.

Coordination for buyer engagement across the full-funnel is vital.  A realistic evaluation of capabilities and alignment on revenue strategies is the first step in building a revenue organization to capture customer value and for rationalizing equity and debt investments.

We are working with a $10M B2B tech company that is looking to get to the next level of accelerated, predictable and sustainable revenue growth.  The company has been in business for over 10 years, offering a variety of managed services, support services and applications to support IT Infrastructure requirements.  They have about 350 active clients that contribute to the companies ARR revenue base. The customer base is loyal with low attrition and there remains good demand for additional services resulting in a continuous pipeline for “up-sell”.

Read more

Lorman Education: Using Digital and Social Media to Acquire and Expand Client Relationships

, , , , ,

Join us at our upcoming Lorman Education Services live webinar Using Digital and Social Media to Acquire and Expand Client Relationships on May 7 at 1 pm ET.

This educational webinar is tailored for financial advisors and professionals who would like to navigate the role of social media and digital marketing to grow your professional practice.

Read more

The Problem with Today’s Sales Methodologies

, , , , ,

Good Better Best Sales

 

Face it. Most of the sales methodologies from the 80’s are tired. They do not address what growth companies need today. Growth companies need to shift from using a sales methodology to using a revenue methodology.

Read more

Financial Advisor Smart Book™ (5 Of 9): Integrate a Multi-Channel Technology Platform

, ,

Professional Selling

Build a technology platform to support your go-to-market strategy.

 

We recently published an enhanced edition of the  2020 Financial Advisor SMART BOOK. This resource is a comprehensive guide to help independent financial advisors build an ‘independent difference,’ that is, a strategy-led, systematic growth program with 9 proven strategies. The goal is to help advisors:

  • Increase Volume: Generate More Visits & Inquiries
  • Increase Client Value: Get Better Qualified Inquiries
  • Increase Velocity: Increase Conversion Rates
  • Increase AUM and Revenue: Optimize Engagement for AUM growth and Revenue Impact.

Read more