Expanding Past a Single Source of Revenue
One of the problems that we are regularly solving with our clients is helping them to graduate from a single source of revenue to real control over their new business pipeline. And so what that looks like is imagine your organization that for a very long time you’ve grown at really good healthy growth. But then something happens. It could be you’ve taken on private equity funding, it could be you’ve merged with another company or you acquired another company, or you could be moving into a new market. But for some reason, your 10% growth rate is no longer going to hit the goals of the organization and the goals that you have for your team. So now let’s say you need to grow at 30% year over year. And what happens in that moment is your single source of revenue that you’ve always relied upon, whether that is C-suite sales or it’s very important, key sales personnel, maybe it’s a really large trade show that gets you all of your leads for the year. That revenue line is likely tapped out, so you’re not going to be able to scale this thing from 10% growth year over year to 30% growth year over year.
And probably thinking in the back of your head, you’re like, yeah, those are all sales challenges. Why is a marketing organization talking about them? The reality is that you can expand your sales team, you can try and get other people to take on CEO or C-suite sales activities. You can create more thought leadership with those people. But it’s very slow, it’s hard, and you’re still at a position where that key personnel really holds the strings to your long term growth strategy. And so in that moment, what we recommend doing is figuring out how can I take something scalable like my marketing activity and start to drive actual pipeline impact?
Now, this doesn’t mean that you turn around and you hire an agency or another entity or another person and say, I want you to drive me leads because leads are a long term lagging indicator of success. What it means is that you need to get really clear on inside of our business model with our updated goals and where we play inside of the marketplace. These are the things that marketing needs to be responsible for achieving for my organization so that I can get leads in the future. All right. So getting clear on that, getting alignment around what marketing needs to own in your organization will help you move down that path towards graduating from your single source of revenue and really creating control over your pipeline into the future.
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