lead management
DESCRIPTION
TRANSCRIPT
What Is Lead Management?One definition of lead management
is:
Lead acquisition / data capture Data cleansing and lead import Lead distribution Lead enrichment, scoring, and
prioritization Lead qualification
and conversion / lead cultivation
Salesforce Lead Management1. Track "lead source" and "lead type". This allows
them to report on effectiveness by the channel and the offer.
2. Create detailed information to help sales follow-up from the campaign.
3. Assign leads based on open capacity.(rewarding the most efficient reps with the most leads)
4. Adjust lead nurturing based on lead source(lead types show deeper engagement, and which are most likely to close)
Contd…5. Define lead status values to your team.
6. Inquiries from current customers are still leads.
7. Report on lead inactivity.
Is this how your distribution channel views your leads?
Q: What’s the difference between most leads and a fortune cookie?
A: The fortune cookie might come true!
Startling Facts About Leads1. 87% are never effectively followed up on
2. 76% of sales people view leads as “cold calls”
3. 43% of prospective buyers receive information after they have made a buying decision
4. 10% of exhibitors use any organized form of post-show measurement
Determining the REAL Cost of Poor Lead Management1. Cost Per Lead:
Total Show Spend/# Leads Ex.75,000 / 150 Leads = 500 per lead
2. Lost Revenue Opportunity: Average Sale Amount x # Lead Conversion % Ex.25,000 x (150 leads x .25% = 38) =950,000
3. Brand Perception: How does not following up impact your
company’s brand perceptions in the market? Time loss- since “ time is Money”.
The Exhibiting ROI Truth…
“If you are ever going to produce a financial ROI, it is hidden in your leads.”
Why is this happening?1. Marketing and Sales “disconnect”2. Perceived quality of leads3. Lack of exhibit staff training
86% of booth staff have never received one single hour of professional training on how to work an exhibit
4. Lack of “clarity” on what a lead really is5. Lack of a “Closed-Loop” lead management
system
The “Closed-Loop” Lead Management Process
Keys to a Closed Loop Lead Management Process
1. Capture the highest quality leads
2. Efficiently Route leads to the right people for fast follow-up
3. Provide an easy method for lead recipients to Report progress and sales conversion
Improving Lead CAPTURE Process
What Is and Isn’t a Lead• Personal Interaction• Qualifying Questions Asked• Answers Documented• Next Step Identified
& Agreed On by Visitor
2.Set a Realistic Lead Goal “Exhibit Activity Level”
# of exhibiting hours 25 # of booth staff x 4 total staff hours 100 interactions/hr/staffer x 4 total target interactions 400 % of visitors to lead .25 Lead goal 100
3.What Information does sales Want to Capture to Qualify Leads
1.Project/Application/Need 2.Requirements or
Specifications3.Product Interest & Level4.Buying Role 5.Budget6.Timeframe7.Decision Team8.Other?
Lead
Grade
Time Frame for Purchase
Budget
Identified
Buying
Role A+ 0 to 3 Months Yes Final Say/Specify
A 4 to 6 Months Yes Final Say/Specify
B+ 7 to 9 Months Yes Final Say/Specify
Recommend
B 10 to 12 Months Yes Recommend
C+ More than 1 Year Yes Recommend
C Unknown No No Role
4.Develop Specific Priority Codes
Contd… Training Staff
Reason for the system Accountability Hands-on Role playing Kick off with contests
Assign a Lead Captain
Collection deviceMonitor Goals vs ActualAcknowledge &
CorrectionsEntry into CRM Routing
Improving Lead ROUTING Process Only Route Qualified
Leads
Do it FAST
Include All Relevant Data
Use Your CRM system(a web based system)
Improving Lead Reporting Process End of Lead Review
Close of Show Report Number of leads captured
versus goal Cost Per lead Number and % by priority code
Create Culture of Reporting Contact their Manager Use Contest to Kick-off
Contd…4. Make it Easy
Provide basic info
Ask for last contact date, next contact date, stage of sales cycle, projected dollar amount and probability of sale
5. Follow-up on target on dates
6. Notify the team of progress and results
7. Recognize and reward performers
Lead management at a glance
LEADSQUALITY LEADS
PROMOTIONS / MORE INCENTIVES / SATISFACTION
SUPERLATIVE
PERFORMANCE
BUDGET ACHIEVED
SALES
CUSTOMER