“Hola, we have got fresh leads for our business,” the new marketing executive cried at the top of his voice to a rather apathetic team. For, they knew better about the sad state of lead management in their organization.
If your business has come face-to-face with a situation that somehow resembles the aforementioned state of affairs, you must be aware about the weight of effective lead management.
At this juncture, managing leads and eventually resulting into better conversion holds more value than gaining new leads. After all, what is the use of getting new leads everyday if your lead management system is unable to capture them as customers.
No, stop immersing yourself in self-loathing – that will do you and your company no good. If there is a problem, there has to be a solution for it.
However, today we will not talk about the solutions directly, but will try to encapsulate some dreadful signs that all point to an immensely faulty lead management system.
1. Bird-brained Follow-Up Calls
It is time to reflect on how you follow-up with leads once they decide to download one of your marketing collaterals. If your sales reps have been calling prospects with little or no knowledge of the person’s background, interests, and needs, your call will most likely be out of context. Just because you have got a lead doesn’t mean you jab them with your products and services. Take it slow. We know you have been told that you should respond quickly to lead inquiries but at the same time, you should be well informed. Moreover, it is crucial that you understand the difference between quantity and quality of calls. A single efficient follow-up call is far better than numerous follow-up calls, which has the potential to make your lead go cold. Therefore, always remember, ‘a little knowledge is a dangerous thing’, the next time you pick up the phone to follow-up.
2. Mismatching Leads with Salespeople’s Skills and Expertise
If your lead management structure is such that you always have to figure out which salesperson should be assigned particular leads, truth be told – you are doing it abysmally wrong. Your organization should have a well defined structure for sorting and assigning leads depending to the skill sets and experience level of salespeople. Thereby, the potentially bigger leads should automatically go to the reps with better handling skills. Alternatively, it can be safely said that your prospects should be paired up with sales reps, which have multiple points of similarities. Hurriedness in lead distribution will only do more damage than good and so always ensure that the sales reps are capable enough to bring more lead conversion.
3. Passing Leads Too Quickly or Slowly to Sales Team
Studies state that 95% of qualified leads only are interested to research for products but are not ready to invest their money initially. However, 70% of leads will in due course buy a product – either from you or from your competition. Therefore, the timing of passing leads to the sales team matters immensely in the entire scheme of things. Too soon, and you might lose leads easily. Too late, and it might mean your leads already buying from competitors. For this reason, it is vital to know about the stage a lead in on in the buyer journey.
4. Absence of a Fine Lead Tracking Software
An efficient sales process is one where you should always be aware about the stage a lead is on. Moreover, you must know how long has it been for the lead in the sales pipeline. To be precise,your business lacks direction if you haven’t employed a sales lead tracking software. This software is a competitive advantage that your business needs for increased sales, enhanced sales team performance, and greater customer retention. A great lead tracking software will help you in better lead forecasting, organizing sales processes, and will ultimately result in enhanced lead satisfaction and retention. In other words, if you don’t have a lead tracking software, you are certainly shooting in the dark.
5. Turning a Blind Eye to Social Media Profiles of Leads
A quick call with unfavourable outcomes is surely not preferred any given day. Even if you are calling the lead few hours later, but have ensured to capture all available information about it, it is any day a healthier approach. However, in an attempt to know your lead better, if you have left out their social media profiles, you are committing a huge blunder. These days, people share a lot of their professional likes and dislikes primarily on LinkedIn, Twitter, and Facebook. Scrutinizing social profiles of leads will give you a good understanding on their tastes and preferences. Thereby, you will be in a much better position to address your leads and engage them in a conversation.
So, do you feel your lead management system sucks after reading the aforesaid parameters? If yes, now you know how to set things right. Share your thoughts in the comments below.