Insights for Growth
Assess and Benchmark Sales & Marketing Traction Easily!
This Scorecard for mature and late-stage startups, can fine-tune underperforming Sales & Marketing channels; and help in finding hidden opportunities for customer & revenue growth.
Read the full article below to understand how Flument Sales & Marketing Scorecard helps start-ups and enterprises maintain a consistent upward growth trajectory.
To increase Business Traction, rely on measurements instead of opinions!
One accurate measurement is worth a thousand expert opinions.
– Grace Hopper
Be it good times or lean times, Founders, Sales & Marketing leaders are often bombarded with a multiple tactics and strategies for achieving revenue. And though they are capable to select the best tactics & strategies, sometimes the intense pressure to meet or exceed sales targets can cloud the judgments of even the best managers and teams.
Flument’s Sales & Marketing Scorecard helps business leaders and managers measure the traction of Sales & Marketing activities on an ongoing basis, bringing to light both the performance of channels (i.e. success or underperformance), and also the new avenues for customer and revenue growth. This scorecard is also a handy tool to navigate the complex sales & marketing landscape of the digital age (discussed in more detail below).
The Explosion of Sales & Marketing Channels: Boon OR Bane?
Thanks to the proliferation of digital devices & technologies, the Sales & Marketing landscape have dis-intermediated over the years, with brands and agencies gaining the power to communicate directly with any chosen audience. This has helped in the emergence of inbound marketing with emphasis on content marketing and online media channels. However the efficacy of many outbound marketing channels has not fully eroded, with many marketing teams using those mediums to rise above the clutter of digital campaigns. The diagram below summarises the important scalable sales & marketing channels available for brands and enterprises today.
It must be noted that, the Reach, Cost, Conversion Rates, and Success Strategies across these channels are entirely different. Thus only a smart usage of these channels, can drive both Customer Acquisition and Customer Retention in a sustainable manner.
In this ever evolving marketing landscape there are many instances where upstarts often ride new & emerging channels to accelerate the demise of incumbent products. There are also many examples, where emerging start-ups devoted majority of their funds on marketing activities, chasing growth in an unbridled manner, and finally folding when the funds ran out.
Thus Sales & Marketing activities are to important to be left unmonitored without periodic measurement and benchmarking. This measurement is required both to analyse the efficiency of existing activities, and for uncovering new customer engagement and revenue opportunities.
Measuring & Benchmarking of Sales & Marketing Activities
Sales & Marketing effectiveness is often derived from an interplay of multiple business realities and ongoing activities. These include the Market, the Value Proposition, the Customer Acquisition Channels, and the Strategies for Customer Retention.
❖ Market is unarguably the most important factor that drives business traction. So it becomes important to be on top of the shift in customer needs and market dynamics and competition.
❖ Risks to Value Proposition makes the product fall out of the consideration set of customers. Hence that parameter also needs to be monitored objectively.
❖ Marketing Traction helps build the awareness & desirability of a product among target audience. However the cost of customer acquisition should be monitored and maintained at levels lesser than market average; and more importantly lesser than the overall LTV derived from each customer.
❖ Similarly Sales Traction (for example: pipeline growth, deal velocity, win rate, churn rate etc) needs to be proactively monitored, and fine-tuned for ensuring continuous revenue growth for the business.
A high effectiveness across all these 4 areas, indicates good Sales & Marketing performance, aiding long term business growth. An outsider’s perspective and transparent benchmarking of these 4 areas, can help founders and leadership teams gain the maximum benefits from ongoing Sales & Marketing initiatives.
No Founder would want his years of effort to be undone by sudden decline in business traction at the last stages of the race. And similarly no Sales & Marketing leader would want ongoing growth efforts to turn a dud due to shortcomings in the Value Proposition and Channel Strategies. A transparent scorecard that predicts risks to sales & marketing performance across key areas is the need of the hour, as it can help Founders, Sales & Marketing leaders to take immediate steps, to prevent any negative impacts to the business.
Flument Sales & Marketing Scorecard
Flument’s Scorecard has been purpose built, to help Founders & Management Teams monitor Sales & Marketing performance, for ongoing benchmarking and decision making. To finalise this scorecard, we have studied over 50+ companies, and looked at multiple parameters that helps in measuring the Sales & Marketing traction of an enterprise in a holistic way.
The following diagram describes Flument Sales & Marketing Scorecard in full detail.
Managing a fast growing start-up is tough. While some months and quarters are filled with euphoria and excitement, many others can lead to much despair and despondency. Instead of looking at lagging indicators like quarterly revenues and customers acquired; smart Founders and Management Teams try to pro-actively identify pointers to understand the sales and marketing traction of the enterprise.
Flument’s Scorecard can also help Founders and Management Teams gain the right insights, to take decisions that aid in building Sales & Marketing traction for long term growth.
Flument Sales & Marketing Scorecard: Benefits for Founders, Business Leaders, Managers
❖This Scorecard can help business leaders make a transparent assessment of the Growth and Traction of the enterprise.
❖ This scorecard can fine-tune underperforming sales & marketing channels; and help in finding hidden opportunities for customer & revenue growth.
❖ This scorecard can help identify any misalignment between marketing and sales activities, that can potentially stifle business growth.
❖ Flument also provides Growth Consulting to guide the start-up Founders, with Product, Pricing, and GTM Strategies that has worked for the best and market leading companies.
❖This Comprehensive 5-page report, looks at multiple business data points, leading & lagging indicators, to help improve sales & marketing efficiency in a structured manner.
Talk to us for more details!
Whether you are looking to benchmark your sales & marketing performance using our scorecards, or more details on our Growth Consulting services; please contact us to set up a quick meeting.
Our team will set up an online meeting at your convenience, to take you through our Scorecards and Consulting engagement models.