In this previous post, I discussed the importance of validated sales opportunities (VSOs). Recall that a VSO is a target company that matches up with your company’s solution or offering. VSOs can help a company in a number of ways by increasing yield on sales capacity, saving time and resources, and increasing revenue. But unfortunately, producing validated sales opportunities isn’t always the easiest of tasks.
When attempting to locate VSOs, be aware that several challenges may arise:
1. Sales and marketing dynamics have changed. Sales and marketing processes today function quite differently from the way that they used to function just ten years ago. Many Marketing and Sales organizations are not fully aware of the best methods that are necessary for the optimization of a business development process, in order to consistently produce VSOs.
2. Lack of focus. Some companies have a lack of focus on demand generation optimization, and are, therefore, not always pursuing these types of validated opportunities.
3. Misalignment between Sales and Marketing. Sometimes the marketing team is not fully aware of what composes an ideal selling opportunity for the sales team.
4. Resource and budget constraints. These can cause a company to implement business development campaigns that are too strategic and inefficient.
5. Lack of key performance indicators. These are needed in order to measure validated sales opportunities so that they can be differentiated from less interested prospects.
With sales and marketing performance under continued scrutiny, the competition for sales and the pressure to close deals has intensified. This makes the location of VSOs very important. With VSOs, sales teams can increase the success rate of capturing the right economic buyers, while also reducing their acquisition costs. However, it is also important to not lose sight of potential challenges that may arise when attempting to acquire the VSOs in the first place.
VizQuest can help! We have developed a comprehensive approach to deliver validated sales opportunities to our clients. We have helped innumerable companies in the past increase market shares and revenues. We can assist in helping your company establish a value creation process that will be a sustainable method for recruiting VSOs. To learn about what VSOs we have in your target markets, please contact us.