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Retained Verses Contingent Executive Search For Sales And Marketing Talent

If you’re in the process considering using a recruiting firm in order to find sales and marketing talent for your company, you may know that there are at least a couple of options out there for you to consider when it comes to the type of arrangement between yourself and an executive search firm. One is retained and the other is contingent. By retained we mean you are working exclusively with the search firm and you’re paying their fees as you go for performing those services. Contingent means that you only pay the fees at the time they successfully place a candidate in the position that you’re looking to fill. The notion of exclusive verses non-exclusive is a different one though in contingent search. Many companies do contingent search, but they want to know that they are building an exclusive partnership with their client for the assignments that they’re taking on. If you are thinking about outsourcing your recruiting to a search firm, you should consider doing it on an exclusive basis as opposed to hiring several recruiting firms to do it simultaneously. Why? Because you’ll get the best results.

Many companies make the mistake of outsourcing their searches to a group of firms, thinking that they’ll get better coverage of potential candidates, but in fact, the results is a number of search firms are really giving them no quality attention on their job orders.

If you want a recruiting firm to do a great job for you in finding the best talent for your company, then you should consider giving the assignment to a firm which you believe has the best overall candidate pool and skills in the functional area that you’re looking for. In particular, you should retain the services of the company that focuses on sales and marketing if that’s what you’re looking for, in finance or IT or whatever the specialty is according to your search. But as you retain the services of the search firm, make sure that you’re willing to invest yourself in the process and in the relationship that you’re creating with its people. That will give you the best potential to find top candidates.

Why is this? It’s simple. Recruiting firms that don’t work exclusively on their assignments tend to take on a lot of searches simultaneously, and their efforts get diluted to the point where they are doing a little bit of a lot for everybody, but nothing really well in particular. This is the risk that you run when you pull in multiple recruiting companies to do a single search for you, particularly for higher-level positions in sales and marketing. Now it might be fine if you do this for staffing administrative positions, but when it comes to finding that A-level candidate for a very specialized sales or marketing position, you really want to make sure that your search firm is a partner of yours, that they understand your needs deeply and are willing to take a very focused approach to finding and vetting candidates according to your detailed search criteria. That’s why it makes a lot of sense, whether you go contingent or retained, that you pursue an exclusive partnering approach with the recruiting company that you decide to work with.

Sales and Marketing Results? Who’s Keeping Score?

Unfortunately, not many of you. There is an ever-increasing push for sales and marketing teams to show results. And “accountability” is the buzzword these days, whether in the boardroom or personal performance reviews.

Accountability n: responsibility to someone or for some activity [syn: answerability, answerableness]

But, accountability is not just a buzzword. It is truly necessary for success. In order to measure results and, more importantly, REPEAT those activities that yielded the best outcome, we need to track and consistently analyze our metrics. True, the ultimate metric is SALES. But still the best managers (whether managing an entire organization, specific team, or yourself) understand that a smooth sailing to success requires the ability to “tack” your efforts toward your goals. The only way you can do this is to know where you want to go, where you are now, and what changes to your effort are necessary to lead you to your destination.

That’s where the sales and marketing SCORECARD comes in. Here are 3-steps to creating your own scorecard:

1. Determine which results you most want to track. While it is not a comprehensive campaign ROI measurement tool (each individual marketing vehicle should be measured in a separate ROI exercise), the Sales and Marketing SCORECARD is meant to measure your most critical metrics at each stage of the sales process-SUSPECT, PROSPECT, LEAD, and CUSTOMER-and provide a quick snapshot on both sales and marketing results.

Some example metrics might include:

  • Website Visitors
  • Website Downloads
  • Inbound Inquiries via web and email
  • Outbound Contacts such as telemarketing and tradeshows
  • Sales Prospecting Follow-up (Calls, Connects, Qualifies)
  • Presentations Given
  • Proposals Submitted
  • Close Rate (ratio of wins and losses)
  • …and any other Metric that is relevant to your sales and marketing success
  • 2. Identify the systems for capturing the data. Reporting on metrics is impossible if you don’t have the systems (whether human or technology) in place to capture the data. For each metric you have added to your scorecard, determine your process for capturing and compiling the results each month. How do you track each inbound inquiry? How can you determine how many proposals you submitted each month? Etc.

    3. Set a venue for your team to review results. For you to truly be accountable, you must actually share them. Set a time and place for report on the details of your scorecard(s). As you review your monthly reports, reflect on how they differ from previous months, and check on your progress toward the annual goal (are you tracking to your goal, or falling behind). This is your chance to make any changes you need to make before it’s too late.

    It’s time to be accountable! Get started on your own sales and marketing scorecard now!

    Free Sales and Marketing Tips to Improve Your Sales

    If you are looking for some marketing miracle that would help you improve your sales, here are some free sales and marketing tips that will surely help to increase your sales and your marketing effect.

    These free sales and marketing are good enough for all types companies and organizations

    Do not trust the traditional marketing strategies completely

    The marketing techniques and strategies written in books and being followed from a long time are not effective enough to understand and run with the present market conditions. The market in every field has changed in many respects. Thus trusting the traditional marketing strategies completely may not affect your business. However, the expert advices are always useful. New methods and techniques must be developed based on the present market conditions and competitions. The free sales and marketing tips here are obviously very useful according to the present market conditions.

    Online marketing and email marketing is a very affecting and cost effective powerful tool of marketing, especially for small businesses. It costs very less and allows you advertisements and marketing to an infinite geographical range. The contact lists of email addresses must be self-prepared depending upon the requirements, rather than buying from broking companies. Impose advertisements on the related websites and make your subscriber list to build the list of email addresses. Updating the customers and other contacts regularly and maintaining friendly relations with them is often useful and very affective.

    Make stronger bonds with the present customers

    Often the mistake done by marketers is focusing on creating new relations. This is obviously a very important tool, but focus must also be made on the existing customers. The present customers are very important assets for a company. Maintaining strong bonds and friendly relationship with them is very important as a marketer. Offering them memberships with attractive offers will surely help in building up the business. Well entertaining the present customers also increase the possibilities of new customers.

    Here is a multilevel marketing tip that will think of your business in a more wise and useful way. The first level says that you, as a marketer should wisely make a list of all the clients or people that may be interested in your business. Then you shall need them to trust you completely that will make them more inclined to your business. And thirdly is the fulfillment of their needs and requirements with your business. This kind of step wise market research helps a lot to understand and forecast the customer behavior and feedback.

    These were some free sales and marketing tips for your business. All that a successful business requires is some brain and some ideas within it. New marketing tricks and tools can be developed according to the need and situations. The most important factor to consider is that people like doing business with the people they are familiar with. Thus maintaining relations and reaching out to the most of the market area is very important as a marketer.