How_to_Hit_Critical_Growth_Milestones_Earlier

 

The management team just presented the 2015 plan to the board. You, a board member, agree with the plan but not the timeline. You want to hit the growth milestones earlier in the fiscal year. If the management team can do this, you can accelerate value realization.

 

In my practice, I work board members to help their companies reduce the time it takes to hit the EBITDA target. Over the years, I have learned a few things in this area. Here are some suggestions for you.

 

#1: Modernize the marketing strategy. The buying behavior of decision makers has changed forever. Social, mobile, and search have rendered yesterday’s marketing playbook obsolete.

 

Call-to-action:
In your next board meeting, ask the CMO to tell you how much it costs to acquire a customer and what is the life time value of a customer. If he/she cannot answer this, this is a sign your marketing strategy is outdated.

 

#2: Modernize the sales strategy.  Prospects buy differently which means you need to sell differently. This requires new organizational models, hiring profiles, compensation plans, and channels to market.

 

Call-to-action:
In your next board meeting, ask the head of sales to show you a map of how the customer buys your product. If he cannot, step-by-step, this is a sign your sales strategy is outdated.

 

#3: Benchmark the productivity of the sales and marketing departments.

Call-to-action:
In your next board meeting, ask the CEO to tell you how productive the sales and marketing team is relative to the industry players, and best-in-class. If he/she cannot show you a comparative analysis, you have trapped opportunity that needs to be unlocked.  

 

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ABOUT THE AUTHOR

Greg Alexander

Leads the firm's focus on the CEO’s role in accelerating revenue growth by getting the product team, the marketing department, and the sales organization into strategic alignment.
Learn more about Greg Alexander >

Greg is the host of The SBI Podcast, the most listened to sales and marketing podcast on the internet.

 

He is the host of SBI TV, a monthly television program broadcast on the internet featuring top B2B sales and marketing leader sharing their strategies to grow revenues.

 

Greg is the Editor-in-Chief of The SBI Magazine, the leading B2B publication focused on sales and marketing effectiveness.

 

He is the author of two critically acclaimed books Topgrading for Sales and Making the Number.

 

Greg has authored over 100 articles on SBI’s award winning blog, The SBI Blog.

 

He graduated from The University of Massachusetts Amherst with a BA in English and received his MBA from Georgia Tech.

 

Video:

 

Transforming the Sales Organization inside Fortune 500 Companies

Greg Alexander and John Gleason, Chief Sales Officer of Ryder, talk about the unique challenges of transforming a sales team inside of very large enterprises.

 

A Better Way to Structure Your Sales Force

Greg Alexander and Tony Capucille, Chief Sales Officer at Heartland Payment Systems, discuss the pros and cons of the 7 B2B sales organizational models.

 

Build a team of A Players Inside the Sales Organization

Greg Alexander and Todd Cione, Chief Revenue Officer at Rackspace, talk about hiring, onboarding, and developing exceptional sales talent.

 

Articles

 

Fill Every Role on Your Team with an A Player

In this article, Greg Alexander makes the case for applying the TopGrading methodology to the sales team, and outlines how to do so.

 

What CEOs Need to Know About Their Marketing Strategies

In this article, Greg Alexander and Rashid Skaf, CEO of AMX, discuss the role the CEO plays in crafting a company’s marketing strategy.

 

What CEOs are Looking for in a Sales Leader

In this article, Greg Alexander and George Norton, leader of Heidrick & Struggles Chief Sales Officer practice, discuss what CEOs need in the chief sales officer role.

Read full bio >