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So many companies are content to simply generate leads, thinking that their marketing work is done.
However, according to a 2002 Gartner report, 70% of all sales leads are never acted upon typically because
they don't reach the right person at the right time. Additionally, it has been proven over and over again that 45%
of the leads you receive will buy from someone, not necessarily you. Just over a tenth will by in the first
few months, while half of the remaining will buy in six months.
With those statistics in mind,
and nothing else in your marketing and sales implementation having changed, then what would the impact be on revenue and profitability
if you simply lowered the "lead waste" rate from 70% to just 50%?
So what can be done?
The answer is a proper lead management process, managed independently of the sales force. It should include the following
elements...
• All leads coming to a central source to be entered into a lead management database
•
Immediate contact with the respondent, acknowledging their request for information
• Speedy fulfillment of any
requested information
• Timely follow up with the respondent to determine needs
• For those leads that
are not "ready to buy", an ongoing "lead re-marketing" contact process
• A "closed loop"
process to confirm sales is following up on leads
Is all of this worth it? Read the following
statistic and decide for yourself... An 11% reduction in dropped/lost leads, combined with a 1% improvement in lead-to-order
conversion rate, increases annual gross profit by 136%.
Why The Annuitas Group?
The Annuitas Group's
Lead Management process is used by companies where consultative interaction with a sales person plays a key part in selling
their products or services. The program consists of the following components: Lead Process Planning, Lead Capture, Customer
Lead Qualification Criteria, Lead Routing, Closed Loop Contact, and Metrics. Our process assures personalized follow-up
contact with the prospect, prompt response to requested information and proper distribution of the lead....either to sales
or into a lead nurturing stream. In addition and when necessary, The Annuitas Group uses Vtrenz marketing automation software to automate the Lead Management process.
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