Put Your Company and Yourself in the Right Mindset for Revenue Growth
When it comes to driving revenue growth, just as tactics follow strategy, proper action follows the right mindset. And the right mindset starts by replacing “I’ll try” with “outcome-based” marketing and sales. As the person responsible for hitting the revenue target, you simply cannot accept statements like:
- I’ll try to find you the information you need to make this campaign work.
- I’ll try to generate some leads.
- I’ll try to follow-up on all leads within 24 hours.
- I’ll try to make my quota.
You get the picture. The common thread is the use of the word “try.” When someone uses this word, it means that while they are going to make an effort to do something, there are no particular expectations for the outcome. Many people try things that never come to fruition; however, when you replace the word “try” with the word “intention,” it shifts your mindset from a focus on the effort to a focus on the outcome. Here are some intend statements to get you started:
- I intend to craft a brand promise/value proposition that is unique and powerful.
- I intend to write promotional copy that will wow the reader and motivate him or her to take action.
- I intend to achieve my lead generation targets for this campaign, month and quarter.
- I intend to see that every inbound sales lead is followed up with a personal call within 24 hours.
- I intend to do everything in my power to help our sales reps achieve their sales revenue numbers.
- I intend for my company to have the most informative, compelling and conversion-friendly website in our industry.
- I intend to follow the sales processes relentlessly and close every possible deal.
- I intend to stop using the word “try.”
Many companies train and incentive their sales and marketing teams to complete a set number of activities. This is because they believe that sales and marketing is a numbers game; e.g. if you make enough sales calls, revenue growth will follow. While there is some truth to this, a focus on finding and selling quality prospects is more important than meeting certain activity levels. As one of my favorite CEOs used to tell me, “Revenue solves a lot of problems, while a lack of revenue is always a problem.” To say this another way: Being busy does not equal success – results equal success.
The quickest way to shift from an activity (“I’ll try”) mindset to an outcome (“I intend”) focus is to incentivize results instead of just time and effort. As much as possible, make it painful to fail and lucrative to produce measurable revenue growth. By doing this, you will stop attracting those who want to get paid only based on how much time they put in, and attract more of those who are willing to be compensated based on their contribution to results.
Another critical attitude for success is to create an atmosphere of “action” instead of avoidance. As Napoleon said, “When in doubt, attack.” You don’t want your staff so afraid of negative consequences (what will happen to me if I fail?) that they hesitate to take the risks that can lead to success. The marketplace responds better to a company that is on offense, not defense.
We’ve talked about the internal mindset, but what you project to the outside world is equally important. We teach clients to figure out where they will be in a year or two and to start representing themselves this way immediately. Never short shrift the value of what you provide – your competitors will certainly do this themselves and don’t need your help.
In many cases, it is not the company with the best product or service that wins, but rather the one that appears to offer the most value. Note that I said “appears” because it is perception that creates reality, not vice versa. This is why you always need to project the best version of your company.
Note: this post was excerpted from The Expert’s B2B Revenue Growth Playbook: Actionable Strategies to Make Your Business Soar.
- How Digital Strategies Support B2B Revenue KPIs - January 5, 2021
- End of Year B2B Marketing Planning: How to Make it Count - December 9, 2020
- CMO Bravery – an Underrated Virtue - November 9, 2020