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RECON REPORT

Fastest way to Ship Revenue? Own Your Backyard aka Location Location Location

by | Jun 25, 2016

Fastest way to Ship Revenue? Own Your Backyard aka Location Location Location

Your single most competitive advantage is literally right under you : Sales wound #76

Attn: CEOs + VP Sales

“Own Your Backyard”

The single fastest path to Shipping Revenue is focusing on your local prospects.

Why? Because this gives you the opportunity to meet in person which is critically important to closing deals regardless of deal size. In the early stages of your company you need face time because you have zero social proof and your product is early. Face time establishes trust. Face time gives you the opportunity to get direct, unfiltered feedback. Try and read body language over the phone.

Past initial revenue ($1–5M ARR) this focus gives you the ability to then close larger deals. You have “social proof” now and face time will improve your ability to close larger deals, faster.

True Story: A founder/CEO who is a customer asked us the quickest way to ship revenue and we told him exactly this. “Own your backyard” and meet with the prospects face to face. 1 month later we met with the founder again and he said, “I have ‘discovered’ a correlation between closing contracts and visiting prospects onsite”. We politely reminded him of our conversation earlier and how Sonar data helped determine the location of prospects to which he replied, “Oh right! That’s why I love your product + team!”

Some of you may say, “But I live in a small town and my prospects are in big cities….” Allow us to Retort

jackson

Regardless of where you are in the world, there are prospects are in your backyard, always. Go meet with them, ask them who are other teams in the area and focus on doing whatever it takes to close them. This will give you valid data points to continue learning at an accelerated rate.

Additionally, these customers represent the ability to do active Customer Development as you are building the product. Nothing replaces in-person feedback re: how to understand the core value that you deliver to their business. Whenever we are onsite we learn a new use case for how our product can be used.

bonus time

What’s the 7th largest economy in the world? Hint: it rhymes with Zalifornia.

You do have a massive competitive advantage if you are based in CA. Chasing that lead from NYC/UK/Australia vs focusing on the Bay Area reduces your probability to close significantly. Even if you do close them, you can’t get the depth of learning from being able to meet with them face to face frequently.

sumo

How do we easily determine location of our prospects? We use Sonar

Sonar delivers VERIFIED location of both the Person and Company HQ which many times are different. This is important if the company is a large multinational company but has a regional office in your backyard, then the Person’s location is what matters. Be sure to evaluate both the person and company’s HQ location as part of your qualifying criteria.

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