Revenue growth focused posts

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

Selecting Marketing Automation and CRM Solutions

, , , , ,

 

Consider Revenue Architecture When Selecting Your Tech Stack

Face it, buyers don’t care whether they are interacting with your marketing or your sales organization, they follow their buying process – often in an unstructured and unpredictable way. They self-sell on the web,  research with influencers and engage 1:1 with sales people.   An effective buyer experience across a dynamic buyer’s lifecycle requires that your revenue architecture is designed with a coordinated closed-loop process supported by integrated technology stack.

We read a lot about Martech and SalesTech stacks. This is understandable because marketing and sales teams have traditionally pursued  distinct missions with different needs. Yet if your marketing, sales and service “front office”  needs to be more integrated to support dynamic buyer pathways, then you might need to re-think your technology stack.  An integrated revenue process supported by integrated revenue technology helps deliver a single view of the customer and becomes  more responsive and relevant as your buyers jig and jag along their dynamic buying processes.

Read more

Marketer as Producer: Using Storytelling to Engage Customers Effectively

, , ,

Cut through the noise.

“If you can’t tell, you can’t sell,” says Storytelling authority Robert McKee.

What’s your definition of a story?  McKee defines it this way: “Sequence of causally connected, dynamic events that changes a person’s life.” Change focuses the mind.

Read more