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Sales Growth Revenue for Engineering
Sales growth revenue for Engineering
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FAQs online signature
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Is 10% revenue growth good?
However, generally speaking, a healthy growth rate should exceed the overall growth rate of the economy or gross domestic product (GDP). Further to that, Harvard Business Review suggests that most companies should grow at a rate of between 10% and 25% per year.
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Is a 5% growth rate good?
The economic growth rate is usually two to four percent overall. Therefore, a five percent company growth rate is not super impressive, but ok since it's higher than the national rate.
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What is the profit margin of an engineering firm?
Engineering firm profit margins are on the rise. From a low in 2012 at an average of 9.3%, firms are now hitting profit margins of 14% or more. Greater profit margins mean better ability for expansion, the ability to take more risks and earn rewards and put more money in your pocket.
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Is 20% revenue growth good?
Typical Annual Revenue Increase: Between 6% and 10% ing to McKinsey & Company. This range is the benchmark for many, but a 20% revenue growth is double what most consider a solid performance.
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What is the average revenue of an engineering firm?
Overview of the Engineering Industry in the United States Despite their small size, these firms can generate sizeable annual revenues, with the average engineering company bringing in approximately $3.5M each year.
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What is a good revenue growth rate?
Ideal business growth rates vary by the type of business and industry as well as the stage that the business is at in its development. In general, however, a healthy growth rate should be sustainable for the company. In most cases, an ideal growth rate will be around 15 and 25% annually.
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What is the CAGR of engineering services?
The Engineering Services Market size is expected to reach USD 1.67 trillion in 2024 and grow at a CAGR of 4.20% to reach USD 2.04 trillion by 2029.
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What is a reasonable revenue growth rate?
Growth rate benchmarks vary by company stage but on average, companies fall between 15% and 45% for year-over-year growth.
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the broadcast is now starting all attendees are in listen only mode welcome everyone to today's webinar this is Robert Jackowski with on-demand advisors and it's a pleasure to have you join us today we want to continue our series of engineering your Revenue growth for 2023. and we're going to talk a little bit further about how this fits into the uh the past and future webinar series that we're conducting so but today's focus is how do you launch new services and new Solutions in 2023 so that it not only is a big hit in terms of the launch but also drives the expected accretive Revenue that you're looking for we work with many different business owners and CEOs and they make their Investments every year in terms of developing new Solutions new Services New Partnerships and in many cases they're disappointed with the revenue that follows that investment So today we're going to connect the dots we're going to share with you how to do it we're going to share with you a proven approach that we've created for many clients and that we've implemented and we're actually going to walk you through an example of one of our clients technical toolboxes to share with you how we help them launch their Solutions and successfully Drive Revenue growth for their company as with all of these webinars that we conducted on demand advisors we encourage your questions we encourage your participation if for some reason we can't get to your your questions through the webinar or in our q a session we'll follow up with you directly because every question is important so let's get started now this is part of a four-part revenue growth Revenue acceleration series that we brought to Market this year in advance of 2023. on November 17th we talked about how do you actually acquire the new customers that you want how do you acquire the new customer Revenue that you're looking for to grow your company it's really the lifeline for your company and we've talked about how to implement what we call a revenue acceleration engine so that you can have predictable consistent scalable Revenue growth our last webinar on December 6th whether it was about customer upsell cross-sell so today if there's a recession going on in North America or other parts of the world in many cases the safest most predictable way for you to grow revenue is with your current customers so what we did in that webinar is we talked about how to implement your account based review uh performance review that you have with every customer and how do you actually encourage them to look at the upsell cross-sell offerings that you have in many cases you've got these offerings today they're just not assembled correctly in terms of your current customers and how they view all these pieces fitting together so we've done a lot of work in this regard too today as we talked about it's all about launching that new solution that new service and how do you actually make sure you're driving the revenue growth you're looking for for next year and then finally in early January on January 12th we're going to talk about your channel partner sales program and how do you actually look at this program many of you today have Partners but they're not producing the revenue that you're expecting so we're going to talk about how do you start the right program how do you select the right partners that are going to help you drive your Revenue growth Craig Remy and I lead on-demand advisors in our entire team that we have broken into four areas strategy marketing sales enablement as well as business development Partnerships and before this we we have obviously before we started this company we were operators of building some very successful companies in Silicon Valley I as the CEO Craig is the CMO for these companies both private and public companies I've Had The Good Fortune of scaling 10 different technology services and um and software companies at different levels Craig has started his career in terms of branding and working with some of the largest uh and most reputable branding agencies digital agencies in San Francisco and then became a Serial CMO Chief marketing officer in Silicon Valley which is how we we put ourselves together at a company called intact and um just just a phenomenal experience in terms of building the company one of the things that people ask a lot of times is what is a global Revenue acceleration agency what does that mean for us well what we figured out after we were doing this ourselves scaling Revenue at both private and public companies we figured out there is a connected Revenue acceleration process a system that once you put it in will give you the predictable Revenue growth you're looking for and it's really important of all the things you can do running a company today having consistent profitable Capital efficient Revenue growth is one of the most important things I've found of being a CEO probably an analogy that people ask sometimes when when we're talking with them they ask about engaging with us and what we do is we either work with them to put in these best practices for Remnant growth in the system or we actually do it for them if they don't have the the team that can work with us so in either regard it's about getting you the results you're looking for one of my friends um has an issue with a with his heart and he asked for my assistance to start looking at cardiologists and so we started looking at cardiologists for him going through all the reputable ones in the area looking at their backgrounds going to videos to understand what they would do successful surgeries their stats and so forth and went through the whole process and then we finally found the right cardiologist who uh has done many of these procedures over and over again has a great reputation and has been very successful in terms of uh helping achieve patient outcomes and so we were able to go through that rigorous process and make a decision and um I would use that analogy as I was thinking about that in terms of what we do as we work with you today and that is you're looking for an expert in terms of Revenue acceleration for your company you're looking for somebody who's done this many many many times and somebody who brings best practices to the table that's us that's on-demand advisors so we bring all that and we help leverage that but the key here is as we're discussing best practices today in this case we're going to be discussing best practices in terms of your launch for new Solutions or services it's important to share these best practices but the one key that we find over and over again is our clients need help to implement this they need help to bring these best practices to life for their company and that's where we come into play the rate of acceleration system is something that Craig and I created back at intact in tactics and software as a service company where we partnered with Salesforce went to Market with them added 5000 customers 300 sell through Partners very successful scaling the company and we built this um this seven-part Revenue acceleration system that we actually help our companies put in and it really gives you the predictable results you're looking for in one sense you're coming to this webinar today looking at 2023 with your Revenue goes on the left hand side and on the other hand you're looking on the right hand side how do you engineer these outcomes how do you achieve them in a predictable consistent way and that's what we're all about and so this is the system we won't spend time today talking through this system but we are going to focus on one Revenue growth Vector which is um the launch of new services and solutions so think about the four random growth vectors that follow through across this system one is new customers that's new new audiences prospects that you're going after two is your current customers making sure that you've got the wall chair with them three is launching new services and solutions as an innovator in your space and making sure you're getting the creative Revenue you're looking for and then four is leverage in your ecosystem and making sure you're working with the right partners that are going to drive success for your company so um what I like to do is just start off with a quick pull if we could and get from our audience if you would be kind enough to participate how many new services or Solutions will you be launching in 2023 and let me go ahead and launch this poll if you could be kind enough to participate really appreciate it give some insight from my audience today so I've just distributed the poll so some of you um may not be launching anything uh new in 2023 some of you may have one new service or solution some may have two to five some may have six to ten and some of you may have an extraordinary number of 11 plus so go ahead if you could and participate in the poll and we'll share the results here in just a little bit but what we're going to share with you today is is really the bookend from the pre-launch to the post launch and how do you actually make sure you're going to be greatly successful in terms of driving Revenue growth and Market penetration for your new services or Solutions okay I'll just keep this open for just a little bit longer and thank you very much okay let me share the results here all right so ing to uh those of you who participated uh 20 of you stated that you're not sure or you're going to keep selling what you're selling today into the next year uh 40 of you stated it's going to be one new service or solution that you'll be launching next year and then another 48 stated it'll be somewhere between two to four new services or Solutions so thank you for participating in that it's very valuable foreign launches in many cases don't deliver anticipated Revenue there's always a challenge one of the CEOs I know up in Philadelphia he had made a decision a small company to invest in rewriting rewriting his applications from one uh stack architectural stack to another so that he could actually become a Cloud solution and in the process of doing that he spent a couple million dollars doing that and did he introduce in his case something radically new in terms of functionality no he didn't but he did introduce a new version in the cloud of his Solutions so the key there is how to actually help him drive the creative Revenue and so some reasons why sometimes these launches don't work and I've seen this many times is they'll launch you'll launch a new solution or new release as part of the release cycle or launch it on a Friday evening because it's new and you want to add it to the stack but you don't want to disrupt current customers so we see that quite often the launch Also may not be conceived as a program to drive revenue and adoption more specifically many launches that we see are considered a marketing event so let's get a lot of awareness in the market let's really be bold let's advertise this launch lets people to come to the launch and that's really the key there so it becomes more of a marketing Centric event um we'd like to think that this is a an event that really involves your sales organization your partner resources and the key here is to create the linkage that needs to happen between the brand the marketing efforts sales and of course your partner Leverage one of the other things that I talk about is the elephant in the room in many cases when you're doing a new launch for either service or solution and you see this a lot of times with technology adoption is that uh one of the objections that's always hidden is that this is new and unproven so I'm going to sit on my hands for a while as a customer Prospect and wait until it gets into the market for a little bit longer so we're going to talk about how do you actually neutralize that objection another thing that we find often is that a lot of our clients are really good at bringing new services or solutions to Market but sometimes the key is going back to customers and helping them understand where does that fit in so if you have let's say 15 different point Solutions and you come up with number 16. the question for your customers where does this fit into the portfolio of solutions that they have from you today for prospects we see in many cases where there are a lot of different point Solutions but they're not connected integrated or synergistic um one of the companies I joined as the Chief Operating Officer is a company called silicone energy and Alameda California and when I joined the company they had 19 different point Solutions now the problem with 19 different point Solutions is that it became very difficult for the sales organization to actually figure out how to position and sell them it also became very difficult for customers to understand how do they fit together so one of the things that we did is we came up with two strategic platforms that included those 19 Point Solutions one for energy producers and one for energy consumers and that type of of process of going through where we rationalize that and branded it was very successful in terms of how to make sure that these Solutions weren't orphaned so let's talk about how do you get a successful launch and how do you drive the revenue that you're looking for from that launch and how to make sure you stay on track well one of the goals we talked about for next year 2023 and we just use this as an example is let's say that you want to get another eight million dollars of additional Revenue going forward from where you are today so we're into what we call Revenue engineering and we're into doing what we call funnel math so if you look at what we did specifically just for a new service or launch that you would have going in 2023 we'd like to get an additional 500 000 of revenue for the for the new solutions that you have now if your average solution transactional value or ACV annual contract value is ten thousand dollars we need to make sure that 50 of those are sold this year for customers um and for prospects you know what you look at is what's the what's the conversion rate that's going to happen here well one out of three of those that are really opportunities are going to become customers in our lead development funnel we're going to create 715 Market qualified leads for these new services and solutions and what we find is 65 percent actually this is wrong should be less are going to graduate into the 150 sqls so we've got to get that figure right here the conversion rate but basically what we're doing is we're we've created a mathematical example on how we're going to create enough demand an interest in your new Services your new Solutions how that's going to be graduated and converted into sales opportunities and then how are you going to close those sales opportunities to hit your number now you'll notice that one of the things that we do at on-demand advisors is we always break these numbers down by month so we know that just for the new services and solutions that you're going to launch next year you're going to need 60 micro qualified leads you're going to convert those into 12 sales qualified leads or opportunities and then you're going to close four per month this helps us make sure that you're on on track now how does this fit into the intentional model that we talked about well a month ago we had a webinar the first one of this webinar series about new customer acquisition and how you can engineer your Revenue growth for 2023 and get another four million dollars two weeks ago we talked about going back to your customers with the customer upselling cross-sell and getting another two million dollars from your customers today we're talking about five hundred thousand dollars for your new services and student Solutions and then in two weeks we're going to talk about how do you get the leverage with your channel Partners to get another 1.5 this gives us the new eight million dollars you're looking for for 2023. and again we're happy to sit down with you and walk you through the model that would be unique and specific for your company but this gives you a framework to start thinking about this so what's the second thing you need to do to make sure that you have a successful launch well we talk about enabling the buyer experience this is uh this is really important when you think about it enabling the buyer experience let's say you have a new service and you're going to bring that out in 2023 the question is how do you enable your buyer to really experience that new service so if you look at many things that we happen today if you were looking at a new car for next year you'd probably take it out for test drive you go to the dealerships you'd really get a sense for sitting in the driver's seat and really experiencing that solution if you're looking for a new home you would be out with a realtor or you'd be doing yourself uh your own search on the web and looking at different homes that fit the criteria that you're looking for and then doing a virtual tour and then a physical tour with them in a similar way when you have a new service or a new solution you want to offer a multi-touch venue before your buyer to experience that so when we think about that there are a lot of ways that we help our clients do that one is through explainer videos that's where you sit down and you explain the solution in a video format to your customer or to your prospect another is what we call explainer demonstrations so for those of you for answers that may have a solution or software or something that's a iot solution you may need a way to explain that demonstrate that solution perhaps even using a use case that would be common for your for your prospects and customers the buyer's Journey on your website if you have a new solution or service you want to drive traffic Drive anybody that's interested to the website and then take them through the buyer's Journey on your website something that we profess all the time let's talk about guided live demonstrations we're not huge Believers in free trials we typically find that with many of our clients that those trials don't convert you may find differently depending upon what your what you're providing to your Marketplace but we find that a guided live demonstration is usually a great way to enable that buying experience free trials do work in many cases for customers because those customers are already well invested with you a simulated experience we talk about one of our customers is provides an iot solution and what they had done is create a lab where you could actually take your data your information your configuration and simulate that environment in their lab that became very good because it enabled prospects to actually understand how the simulation would work for instance in the manufacturing plan without going through a complete implementation and finally a Quick Start program um the the last two items are really important one things that we find is graduating an audience from a launch into a Quick Start program you want to give them quick time to benefit let's say in 90 days or less and you want to show them very quickly how they can deploy Your solution not only where you start but across their Enterprise and finally customer success stories so these are great ways to enable the buyer experience the third area that we want to talk about which is the really the heart of today's presentation is developing and delivering a successful launch for either your new service or your new solution we're going to walk you through one of our clients today and Craig and I are show you some examples of what we created for one of their launches we worked with the technical toolboxes a company headquartered in Houston Texas uh for four years and um really various synergistic relationship with them uh they are a provider of Energy Engineering Performance Management Solutions for engineers in the oil and gas industry when we began working with them over 95 percent of the revenue came from one solution and of course what we help them do is launch many new Solutions and take that into an intelligent set of Suites that we're going to share with you today one of those new solutions that they ended up acquiring instead of building is something called encroachment manager encroachment manager is a company that they actually purchased and a solution they purchased from scenes and that became a solution that they wanted to work with us to launch into the marketplace so before we even did the launch we came up with the pre-launch deliverables sure that we can do the proper job of arrange the launch now the launch could be a webinar in this case it was it could be a launch at a industry forum or at a trade conference or it could be a launch with a number of customers the launch could be any variety of different events that there's Synergy synergistic with your new service or solution it could be a launched with partners so in this case what we help them do is do the registration syndication for the launch event and this is really about uh two months out we help build use cases so that the audience could really understand how to apply an encroachment manager to their business we looked at third party validation so um there are a lot of people out there like prci uh the pipeline research pipeline Council the dads were Partners in our partners with technical toolboxes to help provide additional validation a solution announcement a buyer's guide and a website presence on uh encroachment manager so what Craig was going to do is is take a moment and just share with you one of those pre-launch deliverables that we created for technical toolboxes foreign and thank you everybody again for joining us today and as Bob pointed out earlier we're both uh uh experts in our respective areas with Decades of experience you know with Bob with strategy and and and sales experience coming in to help your team and me with being a Serial CMO and those two distinct skill sets uh with again Decades of experience uh will very help very quickly help your team get up and running um with this specific process and so as Bob talked about the launch and the specific tools required there is there is a Formula that we have created in on-demand advisors not just for the sequence and this is Bob is only showing you a sample and the sample sequence was specific to uh technical toolboxes and sometimes we adjust the sequence depending on the strategy that that we work out with you for your company your Market all the specifics related to exactly what you're trying to do will then go into that buyer's Journey now as that as that piece is put in place with from the Strategic standpoint one of the things I do with my team uh from a marketing standpoint me being a former art director at Sony at Disney and a number of other large organizations uh I'll come in and guide and help evolve your uh corporate brand so that it best represents who you are and who you're trying to speak to in the in the uh in the marketplace now in in conjunction with that once we establish the correct strategy and Bob showed the sample from technical toolbox it's the the explainer videos the the recorded demos the the buyer's guides and we're going to go through some of these examples but in this case the buyer's guide not only does he say well what quick up a buyer's guide many people in this uh on this uh webinar are probably thinking well great I'll just go write a buyer's credit and I'll just put it out there well there's a very specific way we write it there's a very specific sequence in which we campaign around it and I'd encourage the individuals on this call experts whether they're your CEOs and there are many CEOs on this call or Marketing Executives I would encourage you to reach out to us and and and talk to us with it's a no obligation um uh engagement with us at the first conversation to say you know tell me you know here's my company tell me about what you think I should do so it's pretty it's a pretty low threshold to to discuss with us what your challenges are today in the marketplace now back to our buyer's guide so the buyer's guide we approach from how do we frame up it in the in the in the minds of the audience a an agnostic view of what they're trying to acquire and in this case technical toolboxes uh they were positioning uh this new solution called encroachment and it had to do with pipeline encroachments it gets technical on the on the oil pipeline side but that's the product of this encroachment approachment manager and the buyer's guide uh we we write it a very specific way on-demand advisors does and we again campaign in a very specific way um and it's it's one of the very first pieces we use to begin educating and framing the appropriate way in which the audience should conceive and look at technical toolboxes and that new solution so it's very important to get that formula right and put it out in the marketplace so Bob you can really quickly show a few of the additional sections of the buyer's guide I don't want to go in too much of the detail and if you can quickly float through a few of these it's very comprehensive technically but it is it does it does frame up and in their case they're very technical engineering oriented companies some of your some of your Solutions out there is not as technical but the the purpose again is is uh is is very specific to the on-demand formula and I'd encourage you to have a further conversation with us on that so not to go too much further into the buyer's guide because we have other material to go through Bob uh why don't we uh why don't we go to the next uh the next step okay that sounds great great okay so the next one so Craig shared with you an example of a buyer's guide for them uh for a wonderful client uh technical two boxes so now it comes the day for the launch and um what do you need to have a successful launch this is the next part of the formula that Craig talked about in terms of helping our clients really be successful with this event and with these outcomes so we would work with a client like technical toolboxes we build out the five presentation 's team built the solution overview and the process infographic about encroachment we would add the buyer's flow for anybody interested in this solution or having the right role on their website we build out the the scenes customer success story we've got out an industry success story for oil and gas companies and we offered a 30-day promotion so if you look at the the event itself the actual launch there's quite a bit in terms of what was created to actually help insurance that there was this substance the validity and the reinforcement for making this launch a extraordinary event so Craig did you want to show an example of um one of the things that is important here which is the ROI guide so absolutely so let's talk about an Roi guide so uh as Bob earlier pointed out there there are multiple uh marketing content uh vehicles and those are then repurposed for the sales team the sales tools one of the one of the critical pieces in that psychological journey is the ROI guide so now we they've they've become effectively educated we that we potentially built credibility through a success story and now one of the critical pieces is would be an Roi guide so now the the they've gone past select putting you on the short list potentially and now there's a there's a value assessment associated with with the finances you know there's going to be a certain investment you know when will I get that return and this is a critical piece because because if we do not present to the audience and if you do not present to your audience a a formula from for which to consider the ROI they will create one on their own somebody will will create a justification for is there value how do I look at that value they're doing it so your job and our job to help you is to frame that appropriately in the marketplace okay so in this case you can pause there actually one step back Bob that gets into and again technical toolboxes is an engineering solution but in this case we we built a very comprehensive structure for which we can help them begin framing up that Roi that Financial investment but again because you need to control that narrative and that's the purpose of the buyers uh or the whole buyer's Journey because you're controlling the narrative you want a specific outcome how do you guide them through it all right back to you Bob and that thanks Greg that's fantastic so let's uh look at that the third part of the your launch is now that you've had this great event now that you've launched it um what do you do next and this is really one of the most important Keys which is the post-launch follow-up that needs to happen so one thing that we did with technical toolboxes is create the sales assets that are going to be required to now follow up on all these you can get as we would normally have with them 200 people that register for a webinar or for a launch sometimes even up to 500. so you look at these wonderful events and that that interest though needs to be followed up very quickly so what we did is we created these deliverables for the sales team they actually help them really understand how to engage with the audience and move through the buying process if somebody wasn't ready to buy or they hadn't allocated the funding for this then as Craig said we would give them the ROI guide and help them create the ROI in the payback for the solution if they needed to Syndicate that knowledge with other people in their organization then what better way than to give them an explainer demonstration and recorded webinar to provide that information again reusing some of the assets that we talked about the very beginning which is a buyer's guide or use case guide gives the wonderful opportunity for them to understand how they're going to think about the the critical and success factors for making this investment and how they're going to manage all of these encroachments that they have across their oil gas pipeline that they have today the ROI justification in some cases this is also a great driver which is uh our team as we did here helping them put together the risk or regulatory primer so that they could be in compliance with the the typical audits that happen in terms of the inspections that need to be looked at managing all these Crossings across their pipeline and of course not to be uh last but how do you work with the sales team to actually help them in terms of graduating that interest into a sales opportunity and then move that sales opportunity to close so this is a really a very comprehensive way to think about how to bookend from the start to the to the end your launch new service new um solution new platform and being in position now where you've you've got the right offerings 60 days in advance you've got the event itself and you've got the right sales tools of 60 to 90 days after that to actually take the the buyer through that buyer's Journey Craig that's perfect thank you very much Bob is there another sample that you can show us Bob I do why don't we go ahead and just take a look at one more here and um let's go ahead if we could and look at the solution overview that you're in the team created sure so so as part of that that psychological Journey as part of uh you controlling the narrative one of the one of the things that on-demand advisors excels at is coming in and number one working on your strategy to go to market with your product but number two is articulating both visually and in words the best way to present what you are and what you want to sell to the marketplace and this is an example of one of when we embed into our overviews is we always create a process infographic to help them better visually understand what you're doing in the marketplace and to understand how they fit within their own ecosystem so as part of that in the very first one of the very first things that is presented is in this case the encroachment management manager overview which talks about at the highest level what it is in a snapshot what the benefits are add a snapshot how it works how to snapshot really quickly and then visually present it and this is of course this is their look and feel this is this is not yours I always want to say that people sometimes don't understand this was built for them is it look and feel they worked on with us because that is specifically what they wanted we have we could when you get together with us and I would encourage you to sit down with us for an hour we can show you many many other examples of other clients for which their look and feel is vastly different and the articulation of that visual map is very different on what their solution is or what their company is and how they want to approach it from the marketplace we work with you side by side on the strategy to come up with what that is so in the case of technical toolboxes the visual overview for for encroachment manager is as such and it fits into their bigger ecosystem of their other Visual workflows and it it all fits together as one large family and it's very important for us to have it all tied again so uh and that fits in ultimately to the buyer's journey and again controlling that narrative um thanks Greg let's come back to the fourth part of the launch and that's the calls to action up to this point we've gone with the encroachment manager we've done a great job of educating the audience with the compelling value propositions engaging with them providing the sales team with the sales tools to actually take somebody through the process but this is more than just about education this is about adoption so one of the things that we worked with technical toolboxes to create is these offers so as a next step one of the offers that we help many of our clients create is what we call the Quick Start program and the Quick Start program is taking encroachment manager into your organization let's get it live let's get it in production let's see the better benefits that you can achieve managing all of your encroachments in 90 days which is right up here another one is if you're not ready to begin the selection implementation process then maybe a process review and a justification is in order talking to one of the encroachment experts is also another option or continue to Leverage The assets that we've created for the organization as you come up to speed and we look at timing down the road in terms of your needs so what we've done here is take you through pre-launch launch and post launch one last thing that we talk about is how does encroachment manager fit into their overall solution and this is something that we created for them Craig and the team worked together with their management team to really understand the different Suites the different groups of Engineers so rather than sell a point solution if you think about encroachment manager where does it fit in well it fits in right up here in terms of managing all the crossings that they have so in the engineering parlance this is about managing all the crossings that need to occur across the pipeline and what are the solutions that all work together as part of this Suite to address that what we also did then is we created these additional Suites for the engineers so if I have a team of Engineers that do nothing but inspections across the pipeline I'm going to need an inspection Suite of the right solutions that are integrated to provide this as well as integrated to share this information from one Central Hub across my team globally and so forth so one of the things that we find about the launch that's important from a takeaway perspective today is you're going to think about the launch not only for new customers but also for current customers new customers are excited about the new solution and they're excited to hear more about it current customers are also excited but they want to figure out how does this fit in with their Investments that they've already made with your company so just to recap as we're talking about launching new Solutions or services and how you're going to really scale and grow Revenue growth we talked about the four the four plant parts of this the sequence one is create your intentional Revenue plan for that new solution or service two is to enable the buyer experience so that they can truly get comfortable with with your solution and be able to understand how they would not evaluate it but use it three is developing and launching your successful launch plan and we walked you through the four four areas of a successful launch the pre-launch the launch the post launch and the calls to action and then finally we talked about making sure that you think about adoption paths for both customers and Prospects all right so um we covered a lot of territory today in terms of a launch we like your feedback now when you think about today's webinar think about the the material that Craig and I were able to cover today with you what's your major takeaway from today's webinar and let me go ahead and if I could launch this poll and ask for uh you to be kind enough to participate in giving us some feedback so in terms of what we talked about today one is just being able to take this information and start thinking about how new Solutions can help Drive Revenue growth for your company another one would be to create a plan your next objective for 2023 is to create the plan for these new services or Solutions so that you could drive that a third would be to get help from on-demand advisors to help do that or a fourth would be going to go back and listen to the webinars that we've already recorded with these other ways that you Revenue growth vectors in terms of growth for your company and so just thinking through some of these would be great in terms of getting your feedback um I would share with you now that um as we're keeping the poll open 25 percent of you stated you'd like to create a plan for your new Solutions and drive Revenue and then 75 percent of stated you'd like to go back and listen to the other two webinars which we would encourage so one thing I'm going to do after today's webinar is we're going to send you links to this complete series so that you've got um the ability to look at the four vectors for Revenue growth and how you can apply them and how we help our clients apply them in terms of achieving your success all right so now what we'd like to do is just open this up for Q a and please go if you if you could go ahead and post your questions for Craig and I and let us know what's on your mind relative to our webinar and let's go ahead and see if we can address your questions that you have today so if you be kind enough just look over to the right there post your questions and this one is from Marty this is the first question um what's a reasonable return we should expect from a new product launch good question um I'll take a stab at this Craig you can give me your thoughts when you're thinking about um reasonable return a lot of times what you're looking at is is for instance with current customers what's an erasable uh penetration rate that you'd be looking at for this new new service or new solution and let's say it's ten percent of your customers that might be a good way to start thinking about this which is 10 penetration with this new service or new solution and then what does that equate to in terms of Revenue growth for the company so it's a it's really kind of a good way to start thinking about what is the target Revenue that you want to to get back from your customers prospects partners and then start thinking about how would you engineer that in terms of an intentional program um this second question is from Raj Raj says um how can we drive attendance to the launch but Craig you want to take the lead on that and then I'll fill in the banks sure so uh it's a great question asked it all the time and so that's going to get to the specifics of uh as a marketing executive that we'll get to the specifics of your audience and it always starts first and foremost with uh the size and the quality of your database and there is going to be no substitute for your direct and immediate Outreach to that audience through your own communication so first and foremost it's going to start there then secondly we'd have to look at what other types of channels are available to you with your audience you know how active in social media is your audience is that in the case of technical toolboxes that was that was a non-starter so there are different ways in which we have to look at your specific audience how active are is your audience in looking for these type of solutions uh online through ads how often are they going through other means and trade shows that potentially uh you would be at in prior to the launch so there's different ways in which we would approach that equation but first and foremost it's going to start with your database and your direct Outreach uh that's great I've got nothing to add to that's a great great response uh let's take one more question here in the interest of time and this is from Thad says how can I view the other webinars so um thank you for the question Thad what we're going to do today is uh I'll be following up with each of you that um participated and registered for today's webinar and we'll be sharing with you links so that you can actually go and look at the additional webinars so keep in mind what we did this year which is a bit different for us than in Prior years we've always had a webinar series specifically involved at the end of the year to help you plan out the next year for your success what we've done this year though is we've broken that webinar series into four parts based upon four Revenue growth vectors you're going to get some revenue from new customer acquisition that's probably the Lion's Share by going out there with new customers you're going to get some additional Revenue through your customer upsell cross-sale program that you have and helping provide additional value and additional wallet share for your company you're going to get in the third Vector of additional revenue from today in today's discussion with new products and services and then in two weeks we're going to be talking about how you can get additional leverage and revenue through your partner Channel so that covers the uh the different aspects of today's discussion Okay so again as next steps uh as Craig said it's a low threshold to uh send us an email pick up the phone give us a call let us know that you'd like to engage with the conversation we'd love to talk to you about how you're going to be successful in 2023 we'd love to share with some best practices that you can apply today and we'd love to really provide that 360 degree view as you're thinking about next year and how you're going to be successful next year so we've got the three parts here this is the third that we just completed today upcoming on January 12th is the channel partner sales and of course as I said we'll be sending you links to all these uh four-part webinar series that we have to actually help you achieve your your growth and then finally um I think that the that's our CEO from technical toolboxes on the rocket over here uh taking off with us and here's our contact information um here's my email address Craig's email address welcome to call us visit our website we'd love to engage with you in 2023 and really help you start thinking about how you're going to lay the foundation for the predictable Revenue growth that you want for your company so thank you for joining us today for today's webinar as we said there'll be a recording that you can distribute to your team and um we look forward to having you attend in a couple weeks at the partner Summit that we're going to have and we want to wish all of you a very happy and joyful holiday season as well as a prosperous and exciting New Year in 2023 thank you everyone have a great day
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