Many businesses view their sales pipeline from a sales management and revenue forecasting perspective. They are so focused on meeting their sales targets that they fail to review and analyse their sales pipeline to understand the real performance of the sales and marketing function in their business.
All posts in Marketing and Business Development
As a B2B marketing agency, Shaping Business has been successfully operating in the heart of Macclesfield for over 13 years. During this period, we have been providing specialist marketing support to clients, both large and small, throughout the UK, Ireland and Western Europe. We have also been heavily involved in running business support programmes to help businesses with their business growth strategy, export marketing plans and lead generation planning. Having worked with a variety of businesses across Europe we have been keen to share our knowledge and experience with local businesses so they can also benefit.
There are typically two situations which we regularly see when we talk to professional services firms about lead generation. In the first scenario, it may be a firm that appears to be quite proactive in generating leads. They have a mix of regular marketing activities including email marketing, telemarketing etc that they implement, yet they are simply not generating the level of business leads they need. In the second scenario it may be a firm that has previously been quite successful and has now embarked on ad-hoc marketing activities to generate leads. But the overall feeling within the firm is that it’s a case of ‘spray and pray’.
In our experience, the firms that are highly targeted in Lead Generation and make it a habit, are the businesses that are currently experiencing the most success – domestically and internationally.
In the consultancy sector win rates of 1 in 3 are average. However the reality is many firms are not even getting close to this figure. Research found that over 50% of business developers admitted that if they were in their prospect’s shoes, their own proposals would not persuade them to buy. So how can consulting firms increase their bid win rates?
Experience working with a wide variety of consulting firms has led Shaping Business to conclude that there are five principles of bid management that increase the chances of winning business in what is an increasingly competitive marketplace: