The Front Office is where revenue is directly generated for your company, so ensuring you have a good process for it is important. As with anything, developing a strategy is key to success. Whether you’re a new business or an existing one, get to know your market and develop a business strategy around it. Analyze the current market, gather business intelligence, and look into marketing programs such as Partnership Growth Program or SPIFF, where salespeople are immediately rewarded through bonuses for sales.
With your business strategy developed it is time to really delve into marketing. To make sales, customers need to know that you’re an option. Get the word out there through a marketing campaign. Advertise your business through the web, TV or radio, attend trade shows, launch email campaigns and send mail to potential consumers. Once the word is out there, Sales Development Representatives (SDRs) should work to organize potential leads for the sales team.
Sales are next in the front office process. Use the leads that marketing has created and convert them into sales. Configure Price Quote software, or CPQ, can be used to generate accurate quotes for potential customers in real time, in order for a salesperson to have a quote readily available to convert a lead.
When a sale has been made, track that order using your Enterprise Resource Planning (ERP) software. This will help the front office process by allowing salespeople to look at existing orders when trying to keep clients or convert new leads.
As an executive, you have goals and strategies you want to be met and followed. Measuring the performance of these goals and strategies can be achieved using an executive scorecard. First, split your goals into different areas of focus such as improving your company’s brand, tracking how well the company uses its budget, or how it uses opportunities.
In each area of focus, mark what goals or strategies were implemented in that area. For example, in the Opportunities focus area, your goal was to capture 100 leads and generate $1M in revenue. Then, compare actual results of each year to your goal. Using these results for each goal, a grade can be created for a focus area. These grades show broadly how well the company meets its goals and follows through on its strategies.
Engaging with your customers helps build brand loyalty as well as change how they feel about your business or product. Having a variety of effective customer touch point methods is therefore necessary to improve public perception of your company, its products and its brands.
As a small or medium sized business there are a variety of ways to improve and add new customer touch points. Emails can be automated to welcome new users to your product or thank them for their purchase. They can also be sent as a reminder for to renew their subscription to your services, keeping your company on their mind.
As your business grows, scale up your touch points as well. Technology makes this easier than ever to connect with your customers. Use surveys to collect feedback to both give the customer a voice, which can make them feel more welcome as a customer, and to gain valuable insight into what consumers think.
As a business development owner you are tasked with identifying new business prospects, developing leads, contacting leads and winning over new customers.
Generate prospects and group them into hot, warm or cold depending on how close the customer is to needing your business. A hot prospect will be in clear need of the service or product your company provides, such as having visited your website. A cold prospect will not have had any with your company.
Next, get in contact with those prospects and try to win them over as customers. Record all activities used to contact and win over customers, and log your new customer in a tool such as Salesforce 1.