How Entrepreneurs Can Use Assessments To Manage Growth

How Entrepreneurs Can Use Assessments To Manage Growth

The word “assessment” can mean different things and conjure up different thoughts with every person.

I’m no psychologist, but I’m willing to say it may go back to grade school and the dreaded test day. No matter how much we were sure that we did our best on a test, we could’ve missed something and we might receive a disappointing grade.

It can be the same in business – if you keep doing the same things that you’ve always done, you’ll continue to get the same results. It’s easy to continue coasting along with that cozy illusion that we’re exactly where we think we are and need to be.

However, when it comes to our business, this tack of ‘looking in the mirror’ is counter to what we should be doing.

The reality is that when it comes to our business, tracking business performance is essential at any stage. As a company owner or an entrepreneur, you need to be aware of your business’s strengths and weaknesses.

As an analytical tool that provides a clear picture of your business—where it stands, where it is going—and the factors affecting your growth, a periodic assessment is essential to achieving your goals.

So, while many entrepreneurs think that assessments are simply used to point out the status of their business, client, or customer, a successful entrepreneur will use assessments to see opportunities for growth.

How to Conduct Business Assessments

Every business assessment should consider 4 factors.

  • Strengths
  • Weaknesses
  • Opportunities
  • Threats

Strengths, Weaknesses, Opportunities, and Threats, or SWOT are the key ingredients that business owners should consider when analyzing the competition and planning effective strategies for the future. A SWOT analysis should be applied to the several departments integral to a company’s success.

We offer a set of pre-written Business and Entrepreneurship assessments that will help you understand where your business is today and identify areas that need improvement. The best part is that these assessments have already been written and are ready to go today!

An assessment is more than just taking the temperature of your business; rather, an effective assessment will help guide you toward the optimal track for growth. An effective assessment will enable you to translate your vision for your business into reality. Taking the same assessment every three to four months will show the gains you’ve made in striving for enhancing your business.

Use Assessment Generator to automate your assessments and get results quickly.

Create your free account today!

How To Generate Success Metrics Using Assessment Generator

How To Generate Success Metrics Using Assessment Generator

You already understand the benefits of engagement marketing, and how assessments are a great way to establish a relationship with potential clients and help them get to know you. But did you know know that assessments can also be used within your coaching practice when you’re actively working with a client? In today’s world, a positive return on investment is very important to the client, and gathering success metrics is the first step in that process.

Are You Adding Value to Your Customer’s Life?

Measuring and reporting success metrics offers a number of benefits, both for you and for your clients. Providing your clients with a report showing how your program has helped them improve has the effect of re-enforcing the lessons from your program, and acts as a confidence booster, increasing their ability to apply the lessons learned to their daily lives.

You can offer assessments to measure progress either during or after the coaching program. Assessing progress during your program can help you and your client better understand areas where they’ve made the most progress, and areas that still need work. Assessment Generator’s Type-based assessments allow you to design surveys that provide scoring and feedback in specific areas – perfect for this application.

You can also offer the same assessment before and after completion of your coaching program in order to assess overall progress. You can use Assessment Generator’s group tagging feature to track a respondent’s scores on an assessment taken multiple times during your program.

Giving a client a tangible result showing improvement also makes it more likely that they will spread the word to others about the effectiveness of your program.

    Providing Success Metrics Helps you to Improve your Practice

    When you can measure what you are speaking about, and express it in numbers, you know something about it; but when you cannot measure it, when you cannot express it in numbers, your knowledge is of a meagre and unsatisfactory kind.

    Lord Kelvin

    As you continue to gather success metrics on your clients over time, you’ll gain critical understanding of your own success as a coach – after all, your goal is to help people improve themselves. And the better you can meet that goal, the more successful your practice will become.

    Gathering success metrics also gives you a powerful marketing and conversion tool. Referring to hard numbers in your marketing efforts takes your credibility to the next level and gives potential clients confidence that your program can help them.

    Advantages of Using Assessment Generator to Generate Success Metrics

    With Type-based assessments, automatic scoring, customized feedback, and the ability to integrate with thousands of other applications, Assessment Generator is the perfect platform for gathering success metrics.

    Start using this powerful tool take your practice to the next level today!

    Have more questions? Check out our FAQ page or schedule a meeting with one of our experts!

    Demand Generation Vs. Lead Generation: The Basic Difference

    Demand Generation Vs. Lead Generation: The Basic Difference

    The rise of digital transformation has undoubtedly taken over conventional marketing techniques. Since the majority of customers are now active online, many businesses are shifting to digital forums to get more traffic and generate long-term profits. Whether you’ve recently launched your e-commerce business or aim to improve brand awareness through high web and social media traffic, you need to understand digital marketing basics.

    Novice marketers often confuse lead generation with demand generation because the two overlap in certain areas, however, their goals are entirely different.

    Confused about these two terms? Don’t worry! This breakdown will help you figure out the basic difference so you can effectively implement these techniques in your digital strategy as you outgrow competition and grow your business.

    What Is Demand Generation?

    Demand generation is a process through which you can spread awareness about your business by identifying the audience and its needs through inbound marketing and high-quality content. It’s a branding technique that attracts a pool of customers and clients towards your product and service. Once you gain recognition, you are more likely to generate PR and influence your customers’ purchasing pattern by creating a buzz.

    Demand generation is all about reaching new markets and promoting your product and services in the most effective manner to drive intended results. Unlike other marketing techniques, demand generation will help you maintain your customer base by building a long-term relationship with them. The focus on the customers’ needs is essential and can be quite effective if you want to keep them interested in your business.

    One of the tried and tested ways to achieve this is through an assessment from Assessment Generator that helps collect relevant data about your customers. With this technique, you can digitize your strategy to learn what your audience desires the most.

    Demand Generation Content

    • Online Assessments
    • Blogs
    • Infographics
    • Slideshares
    • Free Tools
    • Video Marketing
    • Social Media Posts
    • Interviews
    • Podcasts
    • Case studies
    • E-books
    • Email Campaigns

    What Is Lead Generation?

    Lead Generation is all about converting your visitors into qualified leads by getting their attention. Once you get them interested in your products, they become a lead. In simple words, it’s a way to use the Call-To-Action (CTA) feature to funnel in visitors through your online platforms. Creating unambiguous CTAs help direct them to your landing page(s), where they will find an online assessment or a contact information form.

    You can use this assessment to offer valuable feedback to your customer.

    For instance, you have a fitness product; you can use the assessment to help them learn how many calories they are supposed to consume to lose weight. This valuable offer will act as a two-way interaction between you and a potential consumer, giving you qualified leads for your business. Similarly, when they fill out their contact information, they permit you to reach out to them and provide them with the desired information or content.

    Lead Generation is all about directing your visitors to your product so that they are looking forward to what you have to offer, ultimately influencing them to buy your product in the future.

    Lead Generation Content

    Want to capture leads and attract prospects? Try making use of the following lead generation content:

    • Free Trials
    • Grated Content such as white paper, checklist, PDFs, EBooks, Instructions, etc.
    • Email Subscription
    • Newsletter Subscription
    • Product Demo
    • Courses
    • Webinars & Events
    • Coupons
    • Referral Marketing
    • Online Assessments

    What’s The Difference?

    Demand Generation and Lead Generation may seem similar, but they have different goals. Here are some of the differences that you need to know about:

    • Lead generation is about capturing leads and landing customers; demand generation is about attracting customers and building your brand awareness.
    • While lead generation is a straightforward process that lands you a customer, demand generation requires lengthy and comprehensive procedures.
    • Since demand generation is more than a branding technique, there’s more focus on maintaining the customer base and nurturing prospects. There’s a strong level of communication necessary between the sales and marketing teams to make this work.
    • Usually, gated content such as a checklist, white paper, and PDF is used for lead marketing, but demand marketing makes use of videos, articles, and infographics.

    Platforms to Use for Demand Marketing & Lead Marketing

    You can use your lead generation and demand generation strategies on the following platforms:

    • Your social media platforms such as Facebook, Instagram, and LinkedIn
    • Product website
    • Landing page
    • Blogs
    • Ads
    • Email

    For an effective marketing technique, we suggest that you incorporate both lead generation and demand generation into your digital strategy. Always remember that demand feeds lead and once you create brand awareness, you are more likely to succeed in the future as your business grows. 

    Have any questions for us? Reach to Assessment Generator and we will guide you further.

    How to Create a Sales Funnel Using an Assessment Tool

    How to Create a Sales Funnel Using an Assessment Tool

    Create an exciting and engaging assessment with our Assessment Generator!

    An assessment tool can be used at each step of the sales process since it’s so versatile and engaging.

    You can design assessments that evaluate specific situations and guide prospects through a customized line of inquiry using their answers to previous questions. This entire process improves the prospect’s understanding of the problem they face and the solution(s) they need.

    Here’s how to leverage an assessment tool at each step of the sales process:

     

    Top of the Funnel

    At the very top of the funnel, you can use assessments to identify pains and determine where they exist. Are these issues:

    • Organizational?
    • Technological?
    • Financial?

    Your prospect can clarify the problem and its impact on:

    • Their industry
    • Their business
    • Their own customers
    • Management
    • Staff

    These answers will help prospects gauge the severity of consequences in case they choose not to act.

    Moreover, you can also typically determine how the shift in status quo or priorities came about for the prospect to actively seek out a solution.

    For instance, the prospect’s business might be trying to do something beyond their core competencies. In case of a financial crunch, they may be looking for ways to do more with less. They might be flattening out the hierarchy through a management shake-up or their industry might be facing disruption because of new technologies.

    They might need an innovative and outside-the-box solution that they don’t have the internal resources to work out and execute.

     

    Middle of the Funnel

    Assessment tools are just as useful in the middle of the sales funnel where the lead starts to list down possible solutions and lock down the ones they think are the best. Here, a value calculator may also come into play.

    By now, leads have a fair idea of which elements are needed to solve their problem and have come up with a ballpark price through their research. At this point, they want to find out if the solution on offer is worth its price and what their next steps should be.

    You can also design your assessment to provide a series of questions that show the buyers the value they will receive from your solutions. Alternatively, you can use it to narrow down the list of requirements to solve a particular problem which will help guide future product changes.

    Now that you know the value buyers expect from your type of solution and have information on solutions under consideration, you can create customer-specific offerings which best fit each individual buyer.

    Bottom of the Funnel

    When buyers reach this stage, they are ready to choose from a final short list of companies and solutions.

    They are completely aware of the problem they face and how your offering can help them solve it. They can accurately map the way from their current situation to a desired future outcome by working with the specifics relevant to their problem.

    Before making their final purchase, they’ll want to know the return on investment and total cost of ownership and related information.

    You can use an assessment tool along with ROI and TCO calculators to create a visual representation of the new process.