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February 9th, 2012 posted by David Finkel ( Advisor)

8 Sales and Marketing Questions Every Business Owner Must Ask

  1. What are your most effective systems for generating new leads for your business? E.g., referral relationships; online advertising; affiliate program; social media; display advertisements in industry journals; trade shows; etc.
  2. How could you scale up the best of these systems to bring in more business? E.g., establish clear tracking to ensure you know which leads are the right leads; scale up your ad buys or send out more marketing pieces; optimize your website for better search engine results; spend more on winning key word advertising campaigns; create formalized referral programs; etc.
  3. How can you make these systems more consistent, reliable, or dependable? E.g., create a master marketing calendar with clear dates and assigned deliverables; establish a proven control ad or direct mail letter; have a sales website used by your prospective customers who come to shop or gather information; establish clear metrics that allow you to know objectively what is and isn’t working; etc.
  4. What are your least effective lead generation systems? This is the best place to look when searching for ways to grow your business. Too many business owners try to fix or improve their bottom 20-40 percent. They’d be better off cutting these losing efforts and immediately reinvesting the saved time and money into scaling the top 20 percent of their lead generators.
  5. What are your most effective systems for closing sales? E.g., live sales people; direct mail letters; sales landing web pages; sales DVD; etc.
  6. How could you scale up the best of these systems or better use them with the leads you already have? E.g., hire more sales reps; invest in technology to better handle the lead flow you currently have; create an automated follow-up selling system; design a website to effectively sell; move from selling one-to-one to one-to-many by hosting online webinars or live events; etc.
  7. How can you make these systems more consistent, reliable, or dependable? E.g., draft a best sales script; create a PowerPoint template all your sales team use to make their sales presentations; etc.
  8. What are your least effective sales conversion systems? Again, this is the place to make immediate improvements to your sales in the shortest period of time. Rather than “fix” them, scrap your losing systems and leverage the selling systems that are working best. At the very least, take the elements of your winning sales systems (e.g., scripting, offer, pricing, sales logic, etc.) and incorporate them in your worst performers.