The single most common sales challenge that Massini Group finds in blue chip companies is failure to truly exploit the depth and breadth of the marketing universe. Massini Group will help you see and prioritize all the deals and that will cause a spike in sales.
Many of the issues commonly referred to as data quality are actually errors of omission in the development of appropriate structures for targeting telesales and telemarketing campaigns. Massini Group has consistently measured select defect rates in rented lists at 50% or more. In other words, more than half of the records delivered by list owners are likely to poorly conform to the selection criteria.
Massini Group recommends a different approach - developing persistent knowledge of all of the targets in a market or segment, starting at the account, company or site level. A marketing universe is a comprehensive list of all of the companies that meet your criteria for high probability of sales success.
The marketing universe is useful as a hedge against a number of problems that plague sales and lead generation efforts, namely :
- failure to address the total available market, resulting in missed opportunities due to lack of visibility ;
- long sales cycles resulting from excessive effort applied to targets that are not yet ready to buy ;
- high program disqualification rates, resulting in excessive cost per sale ;
- high campaign lead rejection rates resulting in excessive cost per lead ;
- lead distribution or territory assignment issues ;
- account and site duplication.
The marketing universe is also a useful tool for marketing and sales operations planning, as the driver for :
- total available market sizing and segmentation ;
- sales territory sizing, placement and opportunity balancing ;
- program right sizing and investment planning ;
- management of current relationship and next best touch.
A marketing universe, when used as a foundation for program and campaign management will have the following positive impacts :
- assist in prioritizing direct sales activity toward the largest opportunities or those most likely to buy ;
- assure that telesales teams will be able to address all opportunities above a specific minimum revenue and/or profit threshold ;
- allow campaigns to be specialized for a specific task, like account validation, contact gathering, pre-qualification, lead generation and closing by attaching the last relationship status to each member of the marketing universe.
Massini Group has repeatedly used these methods to achieve lift in the 200%+ range.