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Tips to Improve Lead Mgmt

Tips to Improve Lead Mgmt

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Published by smarketer

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Published by: smarketer on Oct 15, 2009
Copyright:Attribution Non-commercial


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Tips to Improve Your Lead Management Strategy
Companies that have an effective lead management process in place can generate morerevenue from their lead acquisition activities, with higher close rates on marketing generatedleads. The lead management process simply increases the likelihood that a contact will convertto a qualified opportunity and then a new, satisfied customer, maximizing your investment inlead generation. Obviously, improving your lead management process can improve yourresults. So how does your company go about doing this?Let’s review the core components of this multistage process. The diagram below outlines thestages and flow of a general lead management strategy.
Does the chart to the right resemble the process in yourenterprise, or does your process emphasize only one ortwo of these components? Does your organizationunderstand your entire lead lifecycle? If each of theindividual components in your lead management systemworks efficiently, then the overall process shouldfunction effectively with measurable results. The firststep in improving your lead management strategy is to:
Understand, clarify and refine yourenterprise’s lead management method
To implement an effective lead managementprocess, all stakeholders must be involved in theformation of each of the steps in the strategy andhelp determine the qualifications for moving through
Lead Management Process
Closed Loop Tracking &Reporting Metrics 
it tit, it
each stage. Enterprises should ideally consider and embrace a comprehensive approach tolead management
one with a focus on the relevance and timing of the information that isdelivered to all parties.What does your company’s lead management process look like and who has been involvedin determining its strategy? Is it too complex, or is it ineffective with dropped leads and lowconversions? What are its strengths and weaknesses? Consider:
Who has ownership of each stage of the process? Get agreement with all thestakeholders as to what is expected entering and exiting each stage. Marketingneeds to collaborate with the sales team throughout this process so the leadsgenerated ultimately are the leads that your sales team needs.
Is there a defined lead management workflow? It may be that your company needsa thorough examination and re-engineering of your enterprise’s lead managementprocesses and activities.
What essential performance indicators or ROI measures are associated at keypoints throughout the process? Without effective measurement tools it isimpossible to calculate how marketing contributes to sales success or how thecombined effort contributes to the bottom line.
Adopting a strategy that quickly and efficiently captures, nurtures, distributes and analyzesleads though all of the stages of Inquiry, Prospect and Opportunity Management is crucial.Once you’ve established what your optimal process should look like, then the next step is tomake sure the each of the distinctive stages is a solid contributor to the overall function.
Improve each of the underlying components
A.Lead Generation or Acquisition
Whether your lead generation strategies are predominately composed of on-line campaignmarketing programs, traditional marketing techniques, or a combination of the two, the
"Less than 25% of allinquiries are followed upand closed out by sales-people, which leaves bothmarketing people and theinquirer frustrated
James W. Obermayer, executivedirector of the Sales LeadManagement Association
(Jan 29, 2008 2:11pm EST).
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following elements are necessary to provide quality leads for your company.
Identify quality leads. Have you agreed with your sales team what a qualified lead looks like? Startby sitting down with sales to decide on your enterprises’ definition of a “good” lead (ready topurchase, meets demographics, etc).Clearly define and know your market niche or target. An effective lead generation process alwaysbegins and ends with knowing the audience. Once this is established, then you can segment yourlists to capture, retain, entice, and get more information to and from your target audience.Use effective lead generation automation tools. This will help you decrease resource use whenimplementing and enhancing list management needs. Manual list management requiresconsiderable manpower to perform basic tasks such as de-duping or handling opt outs, bounces,and previous respondents. Use of automation systems should manage all of these tasks, as well asincrease your lead generation sophistication with such features as incremental profile building anddata field memorization for email marketing campaigns.Optimize your landing pages and forms. Don’t underestimate the importance of your landing pagesas a tool of lead management. Content, layout and graphics should all be evaluated and optimizedto assure the best possible results. Be clear on the action you want your audience to take and focusthe content on just that action. Make sure your surveys and registration forms lend themselves toeasy capture of info and match the amount of info capture with the value of the offer. Keep in mindthat crafting just a few focused questions can lead to an increase in response rates.Use accurate and reliable campaign metrics for tracking, reporting and testing. Automate youranalytics as much as possible to:
Tailor prospect conversations based on the areas of your site they visited
Know what information the lead already downloaded to prevent duplication
See where sales leads come from and what keywords they use

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