New Venture Lab: Equipping Christian Entrepreneurs

Question

What are the important elements of my company's sales and marketing process that I should think about?

Answer

Here are some key questions you should be asking yourself about your sales and marketing process:

1. Which of the following is your key need: acquiring customers, cross-selling customers or retaining customers?
2. Which of the following provides the most bottom-line impact for your company: acquiring customers, cross-selling customers or retaining customers?
3. Which of your customers are your most profitable customers?
4. What is the lifetime value of your customers by segment?
5. What is your current campaign management process?
6. How long does it take to execute a campaign from start to finish?
7. How many campaigns per month do you execute?
8. How are you measuring the success of your campaigns today?
9. What are your current campaign management tools?
10. How "personalized" are your current campaigns?
11. What are your current response rates on your campaigns?
12. Are you satisfied with your response rates?
13. How do you measure what drives purchase behavior?
14. How do you measure what drives customer churn behavior?
15. Do you build models using demographic, behavior and attitudinal information?
16. Are you happy with your current data quality?
17. Do you have sufficient data to build predictive scores on customers?
18. How do you segment your customers?
19. Do you measure profitability by segment?
20. Do you build propensity scores by segment?
21. Do you sell through channels, distributors or parters, and if so, which ones drive most of your business?