LeadGen Co Fails To Show For LeadGen Meeting
Last week, I received a DM that evaded the LinkedIn spam filter asking if I would be open to speaking for 15 to 20 minutes about a novel lead generator that only bills for meetings with qualified prospects. I responded with a one-time calendar link, and the respondent promptly booked a slot. The next day, I received another LinkedIn message asking me to confirm that I would attend the aforementioned meeting. I confirmed. Then, I attended the Teams meeting and waited for my customary five minutes before logging off without anyone else trying to attend. I navigated over to LinkedIn and sent the following message, "Your side didn't show. Good luck growing a Leadgen co that doesn't show to Leadgen appointments." Today, they responded, "I’m truly sorry for the confusion. My account executive mentioned he was in the meeting room, but upon checking further, he was in the wrong room from the previous appointment. I'll personally make sure this will go through the next time. Can I still book you an appointment time?" I ended the conversation with a firm "No."
This experience reminded me that the most pressing challenges for many innovative growth companies generating less than $10MM annual revenue come from within.
The innovative growth company's most pressing challenge isn't "more sales" but rather "better sales targets coupled with better execution on the sales process," and these are variables the company can ABSOLUTELY control. Better sales targets and better sales process execution should translate into 2X+ better conversion rates.
How do you get better sales targets? Define your Ideal Customer Profile ("ICP") more narrowly.
How do you better execute the sales process?
First, ensure you can execute the basics (contact targets, qualify targets, book meetings where qualified targets are likely to show and where the best salespeople show up prepared and on time to handle the most qualified targets).
Then, work on testing improvements to each essential component with a feedback loop around which you can continuously iterate and improve.
At MSC, we designed our RevOps service to generate 4X its cost in annual revenue for our clients. We firmly guarantee it, and in cases where we don't achieve this objective, we will continue working toward that goal at no additional cash cost to our clients.
Our RevOps success speaks for itself—see how we helped this E-commerce company double its revenue in one year.
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In our “Solve It” short stories segment, we want to connect (hopefully) entertaining professional experiences to insights that Marion Street Capital derives from pursuing its MISSION, VISION, and PURPOSE. I chose "Solve It" as the title of this series because the MSC mission is helping innovative growth companies SOLVE their most pressing challenges, and because as a child, I was addicted to mysteries like Sherlock Holmes, Agatha Christie, The Hardy Boys, and Encyclopedia Brown.
At MSC, our mission is to help innovative growth companies solve their most pressing challenges. We aspire to be the first name that Founders, CEOs, and Board members consider when thinking about how to best solve material challenges for innovative growth companies. MSC exists to help entrepreneurs build sustainable, market-leading businesses so that our next generation of stakeholders may prosper.