A growing concern for many sales and marketing managers is
optimization of sales leads. Each year selling
professional's get a plethora of business development leads
unfortunately unearthing less than 47 percent. Worse, over
50% remain dormant. Managers postulate but to no avail. The
numbers barely move. In recent research for this article,
several clients utilize the Internet for sales leads with
less than 5 percent reaching closure. To develop and
optimize a productive lead generation program sales and
marketing leaders must formulate a B2B strategic plan. The
following information is meant initiate dialogue.
Content is King. Since the dawn of the Internet information
has proliferated our society. Present clients obtain more
information about your organization then you realize. Press
releases, news stories, earnings even advertisements all
provide analysis of the organization. When a lead finally
does reach a selling professional, research illustrates
that 87% of selling professionals reiterate known content.
Solution Sales and marketing must formulate strategic
client questions that provide client value. Rather than
rehash features and claims, new leads are taken through an
analysis to better understand needs. An exemplar might
provide competitive product samples or packaging.
Competitive firms can then provide alternative means and
find gaps.
Mom always liked you best. Clients today inform all
representatives of a lack of time and a lack of interest.
In fact, according to CSO Insights the quality of leads is
positively impacting the conversion rate of leads to first
calls. Marketing and sales must collaborate on lead
completion strategies. These are plans that assist in
collecting a myriad of data for lead movement through the
pipeline. Marketing instructors always discuss the
...phics when discussing the 4 P's and so must sales.
To help lead movement organizational strategies must be
developed to understand demographics, geographic,
psychographic and behavioral issues. This tool assists
sales representatives with a better initial call to
comprehend issues. Similar to an archeologist trying to
unearth the past, a selling professional has more data to
motivate the lead to a next step.
Solution. Provide sales representatives with enough data to
move the lead through the management system. Have marketing
work with sales to establish the type of content required
for your organization. Additionally, clients today require
multiple "touch points". Produce value for prospective
leads with white papers, analysis, industry trends, market
data reports, EPA analysis etc. When available gain an
email address or physical address to send updates to
prospects. Constant contact with leads will help convert
them into future sales.
Technology for technology sake. People today are
overwhelmed with technology. Just recently I attended a
Blue Man Group concert and the following information was
displayed.
GENERAL EMAIL STATISTICS
- In 2001nearly 12 billion email messages will be sent
every day Jupiter Communications
- The average number of email messages per day is 32, up
84% per year.
- There are now as many as 170M corporate electronic
mailboxes in use, growing 32% per year, with 440M mailboxes
in total.
SPAM STATISTICS
- In 1999, the average consumer received 40 pieces of spam.
By 2005, Jupiter estimates, the total is likely to soar to
2000. The Standard
- America Online estimates that spam already accounts for
more than 30 percent of email to its members as many as 24
million messages a day.
- 7% of ISP churn was directly attributed to spam. Gartner
Group
People are simply too tired of electronic commerce. Even
though it is faster and least expensive, it is still
intrusive.
Solution. Work with marketing to develop a paper and a
paperless campaign. Direct mail is on the rise. B2B lead
generation techniques need to follow this trend. Conversion
rates must increase and the alternative is to remain in
contact with leads in a plethora of ways that capture
attention. Personalize pieces for maximum benefit. Sales
and marketing might develop a cover letter that discusses
previous conversations and outlines plans for future action.
Analysis not Paralysis. One client recently indicated that
over 87% of their leads came through the Internet. However,
when seeking additional information, we uncovered less than
10 percent of leads closed. There are a number of reasons
for this from questions, to demographic data to the
foppishness of sales disinterest in the lead. Some
representatives have issues discerning what is a good lead
and what isn't.
Solution. What is needed is not more leads. Sales and
marketing need to work together to discern what constitutes
a qualified lead as well how to execute the lead to the
next step. Each B2B process is different; ensure success by
truly understanding how your organizational process works
from beginning to end. Do not over analyze try different
scenarios to you identify what works well.
No Pain, No Gain. Face it selling professionals can get
quite frivolous with leads and inquiries in the system.
Blame is easily thrown to marketing for poor execution and
comprehension. Yet this is a team effort. One does not
blame the running back for poor running if the line does
not block nor should selling professionals. Inquiry
management is a team effort.
Solution. Provide incentives for both sales and marketing
professionals. Additionally, performance reviews for
selling professionals must include quality of inquiry
management information. Exemplars provide full disclosure
of prospective clients not simply name and address. Key
individuals consistently provide information used by
marketing critically analyzed and used to optimize the lead
equation.
Present B2B's use services such as Six Sigma, Balanced
Scorecard and a cadre of services to develop, qualify and
optimize the business. For many years a division existed
between the worlds of sales and marketing invoking
territorial behavior. In a shifting global economy, a
competitive industrial environment and the knowledge
explosion, it does take a village. Too many choices create
confusion and lethargy amongst prospects. Rather than count
the leads, we need to move them. New methods need be
employed to remove the morass that clogs the pipeline.
Good Selling.
----------------------------------------------------
Drew Stevens PhD is known as the Sales Strategist. Dr. Drew
assists organizations to dramatically accelerate business
growth. He is the author of seven books including Split
Second Selling and Split Second Customer Service and Little
Book of Hope. He is frequently called on the media for his
expertise.
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