Imagine a world where every single company you approach needs or will need your product/service in the future. But wait…let’s back up here–why would you approach a company that’s not an appropriate fit you ask? For the folks that are looking in from the outside of lead generation & business development, welcome to the world of the most mystifying and inexcusable struggle that most B2B business development teams face today.
Good thing is, the story doesn’t end there–there are a few possible solutions, one better than the rest. In this article, I will be discussing a fundamental perspective into resolving this issue as well as my recommendation into debunking this mystical struggle.
My Own Struggle:
In 2012, I was at my first startup company and was given the responsibility to lead our business development team to drive revenue and growth. Looking back, in my first year of leading a business development team, I found that my team and I COULD NOT WAIT to speak with the right individuals. Our strategy for inception began with sourcing our leads from lead lists that were provided by the self-proclaimed oracles, promising a thousand qualified leads at a moment’s transaction.
The combination of my lack of experience and the gravitating trigger of a thousand leads led to an unexpected and draining learning experience. Simply put, I was mesmerized by the sheer volume of unqualified leads which led to my team and I drowning in hours and hours of the day wasting our most valuable and unforgiving resource of time. Good thing is, we learned fast and never mined from an oracle again.
Unfortunately, my experience with the oracle is still prevalent in today’s lead generation and business development ecosystem. And to note, this is just one of the many undermining trap-holes that fall under the same umbrella of strategy. In general, there are two umbrellas of approach.
Shotgun vs Sniper Approach
Figuratively speaking of course, you want to save your time and energy hunting the right people, the right companies, and the right leads. An example of the shotgun approach is the one described above–shooting blindly with a list of a thousand unqualified leads hoping to uncover a golden nugget under the mountain of rubble.
The “sniper approach” does not only sound cool, it’s the one that works–it’s also the one that makes sense. At the end of the day, you’re dealing with people. You’re dealing with an infinite spectrum of diverse personalities and perspectives–drop a dosage of emotional volatility and you have the most complex and dynamic audience that you’re trying to sell your product or service to. To account for human nature, you need a tailored and personalized approach for each one of your targets.
Begin by studying the target and if you find that you’re aiming at the right one, then understand how to the target moves, where it wants to go and then meet them at a strategic angle.
Now that you have the right approach, you now need to organize the structure of your business development team in order to maximize execution and delivery. Thing is, the research that’s necessary to filter out the right prospects and gathering the appropriate information still takes a lot of time and manual effort. Time well spent–but still, a huge amount of time.
The perfect sniper team is separated into two functions–the word “separate” is key here. As Aaron Ross says, “Your Sales Guys Should Not Be Prospecting”.
Devote half the sniper team to be responsible for attaining quality leads and initiating a warm conversation (lead generation) while the other half maximizes their time in cultivating the relationship and closing deals (business development).
So how can I restructure my team for maximum results?
Have your business development team focus on and be responsible for their original purpose–building relationships, creating partnerships, and closing deals. Business development should not be outsourced by anyone other than your internal team. Why? You want to ensure that the people responsible for cultivating relationships and closing deals have the deepest understanding of your product/service value and that you can trust them with embodying your company’s culture and integrity.
On the other hand, lead generation can and in many situations, should be outsourced. The alternative of hiring an entire team for lead generation can be very costly–both in training and in capital. And it’s not just about hiring a lead generation team, it’s about hiring the RIGHT lead generation team. What does that look like and what should you look for?
- Ensure the lead generation team combines technology and manual effort to pull a strong list of leads.
- Ensure the lead generation team can deliver custom analysis and filtering.
- When it comes to outreach, ensure the lead generation team avoids sales templates and instead, personalizes every single outreach.
- Ensure that you trust the team and their values.
Create your Sniper Team Today
In conclusion, create a powerful sniper team that is optimized for scalability and delivering maximum results. Remember, your sniper team must be divided into two separate pillars of function. A lead generation team that pulls only the highest quality of leads and a business development team, whose responsibility should lie in cultivating relationships and closing deals. A cohesive fusion of these two elements will surely bring you an outstanding sniper team.
If you’re looking for powerful qualified and targeted leads for your business or startup, then reach out to us anytime at GrowthOK