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How Can We Consistently Grow Our Managed Services Revenue?
Now moving to the next phase of the buyer’s journey, the close phase, we’re going to take our leads and turn them into clients. Our first question here is how can we be consistent with growing our managed services revenue and keep the growth moving?
To be consistent with increasing revenue and keep the growth moving.
Even before you build your personas, start with SMART goals.
Specific, measurable, attainable, relevant, and time-bound. Time-bound and specific means that we can’t just dream of more sales opportunities and dream of more clients. We have to have a specific number in mind.
Measurable means that we have the platform and technology to understand what marketing activities led to what revenue outcomes. We call this closed-loop reporting. And it typically requires a CRM that can talk to the platform you’re using to manage all of this.
Attainable means we look at what we’ve done in the past. We look at the resources that we’re putting at this, and we have reason to believe that the goal is within reach based on what we’ve done in the past. Relevant means that the goal is relevant to the overall mission of what the company is looking to accomplish.
And time-bound means there must be a deadline. There must be a hard date that’s attached to it that you’re tracking. And then, put your SMART goal on the calendar and hold yourself accountable to interim deadlines.
And if you build your funnel correctly, there are many interim steps you can be looking at.
You have visitors. You have leads a certain percentage of leads or marketing qualified, a certain percentage of marketing qualified leads becomes sales-ready to pass to your sales team. A certain percentage of sales-ready leads become qualified opportunities, and a certain percentage of those opportunities become clients.
Hopefully, you did your persona research the right way. In that case, they’re profitable, desirable clients because you intercepted them early enough in the process that you taught them how to evaluate what it is that you do and make much more informed decisions. And use that education as leverage to build up trusted advisor status.