MEET CARL, SPEAKING @ PACK EXPO LAS VEGAS
WHERE DOES YOUR BUSINESS RANK ?
The top 20% of contract manufacturers and contract packagers are growing much faster than the rest.
They are better known, have stronger reputations, see and win more RFPs, and attract great people. They enjoy rapid growth, strong margins and a large pool of prospects and projects.
The middle three-fifths are treading water. Most could be doing better. The bottom fifth is struggling.
If your company is a quality operator, there is no reason you cannot be in the top 20%. Here are five questions to self-assess your current position.
1. Do prospects you have never met know who your company is?
Many say yes initially. After a reality check, less than 7% of can truly say “yes.” This is a problem that costs you significant business.
Can prospects clearly define why and how your company is unique or superior?
While many CEOs and VPs of sales like claim yes, with a little digging we find this to be rare. Less than 8% of companies. Those 8% win much more business.
Does your team have plenty of good, pre-qualified leads to pursue?
Fact: 15% of the companies get over 60% of the qualified leads.
Is it any wonder they win more business, grow faster and enjoy better margins? Some of them are our clients.
Many have more leads than they can handle. Meanwhile, others are scraping for any leads they can find.
Do you have a structured system for prospecting, tracking, communicating, and qualify prospects? Is it working?
27% claim “yes”, but when we ask the second part of that question, the number drops to less than 8%.
Many companies have bought or built solutions, sometimes expensive ones, that clearly are not working. This is a waste of money and opportunity.
Do you have a structured lead qualification system to track and manage prospects?
47% claim to have this, though most report only moderate success. It is usually NOT the problem.
The real problem is the lack of qualified leads coming into the system. The above four questions. answered properly, can keep marketing and sales funnels full.