March 2007
HOW TO IMPROVE LEAD QUALITY
If you're generating plenty of leads, but the sales force
doesn't think those leads are good enough, what's the best way
to address the issue? Here are some ideas to consider:
1. Change your offer.
The one factor that most impacts lead quality is the offer.
Offer a free book, and you'll generate a high response but a
lot of junk leads. Offer a free trial, and you'll generate
higher quality leads but a much lower response rate.
If your leads are less qualified than they should be, think
about how (or if) your offer serves to self-qualify prospects.
Ideally, offers should appeal to prospects who at minimum are
experiencing the pain, problem, or challenge that your product
can solve.
2. Improve communication to your sales team.
A prospect who downloads a white paper, for example, is not
necessarily expressing an explicit interest in your product.
He or she may only be acknowledging a particular business
problem or technical issue (the problem or issue your product
can solve).
If the same prospect receives a follow-up call that begins:
"I understand you're interested in our product," the prospect
will deny any such interest, and the sales rep will write off
the lead. Alternatively, if the conversation begins:
"I understand you're experiencing [insert problem here] ..."
the rep will have more success and the lead will be deemed more
qualified.
Make sure your reps know how leads were generated, what
information those prospects have requested, and how to follow
up appropriately. Sometimes, what appears to be poor lead
quality is simply a disconnect between sales and marketing.
3. Change the mix of programs.
Broad-based, so-called "pull" campaigns such as paid search
and content syndication are likely to generate more inquiries
at a lower cost, but with a higher proportion of unqualified
leads. Conversely, targeted "push" campaigns such as e-mail
and direct mail generate fewer leads overall, but more highly
qualified responses on average.
If your conversion rate from raw inquiry to qualified
opportunity or sale isn't what it should be, it could be that
you need a better mix of programs.
4. Institute a lead nurturing program.
There are some remarkable solutions available today that will
serve to qualify and nurture leads before they even reach a
sales rep. If you're generating a significant number of leads
each month, if your sales force is "cherry picking" leads and
leaving most to die a lonely death in your CRM database, or if
your leads just aren't converting to sales as they should, it
may be time to implement a lead nurturing system. With such a
system in place, you can:
- Validate inbound registration data in real-time to prevent
duplicate or "junk" leads going to the sales force
- Send only qualified leads (leads that meet a set of
pre-defined criteria) to the sales force, and for the rest,
automatically trigger a series of e-mail communications that
will serve to further profile and qualify those prospects
(sending them to the sales force only when they reach the same
qualification threshold)
- Funnel all qualified leads seamlessly into your CRM or SFA
database, including a record of precisely which campaigns that
prospect has responded to (see: "improve communication to your
sales team", above)
Lead nurturing programs have been shown to substantially
increase the ROI from lead generation programs, and dramatically
improve sales force productivity (because reps spend more time
closing deals, and less time qualifying raw prospects).
CDI is actively involved in designing and deploying lead
nurturing programs for our clients. If you're interested in
exploring such a solution for your company, contact us for a
free consultation:
info@connectdirect.com.