CP: For those leaders who are struggling to attain their organization’s sales goals, what top-level advice do you have for them?
TH: Do the math. That’s right, sales is just a math game. Figure out the close ratio, average deal size and use those to figure out how many clients you need to hit the sales goals. With that, you can simply multiply the close ratio in decimal form to the clients you need to get the leads you need. Engage a marketing and lead gen with a simple order — get that number of leads!
CP: Why are word-of-mouth referrals a potential recipe for disaster?
TH: They are a blessing when you can get them, but don’t bet your future on them. They are not predictable, consistent and eventually not enough to maintain a strong growth rate. So market to referral partners to get more of those and then lean on real marketing and lead gen to get the remainder. Real marketing and lead gen can give your sales team the leads they need without depending on people to give leads that may not.
CP: What are one or two top KPIs for partners’ sales teams?
TH: Close ratio should be 25-50%. If too low, your sales team may not be strong enough. Too high, and you're not getting anything but word-of-mouth leads or you're charging too little. Percentage of leads needed to achieve goal — take the results of one and track that number. If you need 20 leads per month to mathematically hit your growth goals, measure to that.
CP: What are a few of the marketing activities needed to achieve one’s company’s lead-gen requirements?
TH: Effective marketing for MSPs consists of two things these days: digital marketing and appointment setting. Digital marketing includes a strong website, SEO and SEM to market it, then social media and email marketing. Telemarketing is the process of converting the marketing-qualified leads digital brings and nurtures them into appointments for the sales force.