Many organizations have invested in technology to support their sales and marketing efforts. But once a platform is installed, how do you make sure you’re getting the most from your investment? Here are some tips for maximizing the value of your investment.
- Mine the data in your platform. Take a periodic inventory of who orders materials from your marketing technology platform and with what frequency. What items are popular with your sales channels and which are never ordered?
- Correlate usage with revenue. Are your most successful channels the ones who spend the most on marketing? If not, your programs may not be helping them as much as you had planned. Enlist the help of a marketing advisory council to analyze and interpret the data.
- Segment your “customers.” Consider segmenting your user base by saturation; that is, the portion of tools and programs they access from the total spectrum offered. Then plan ways to encourage greater utilization of tools by sharing best practices from peer advocates.
- Avoid “one size fits all” communication. Target your messages to acquisition, expansion and retention targets differently. Some success stories will resonate more with certain types of customers than others.
- Leverage your supplier base. Encourage suppliers to step outside selling mode and engage in honest dialogue with your sales channels about what’s working and what’s not. Install feedback loops to ensure that remarks made to customer service teams are gathered and analyzed.
- Spend where it makes the most sense. Be deliberate and intentional in your allocation of staff resources. Focus on high-performing programs and tools that agents, brokers, dealers, distributors or other channels will readily embrace, but free up time to develop new techniques, too. Newer media channels are where you might get a jump on the competition.
- Don’t just train; explain. Develop the tips and training needed to sell programs to your sales channels. Don’t forget training on the “tried and true” as well as stretch techniques. Also, tell them how you are spending national advertising funds and hold yourself accountable to them.
If you need more advice on leveraging your marketing dollars, talk to the experts at Curtis 1000. Call us at 877.287.8715 or fill out the “How Can We Help You?” form on our website today.