What Is Lead Management?

One definition of lead management is:
Lead acquisition / data capture Data cleansing and lead import Lead distribution Lead enrichment, scoring, and

prioritization Lead qualification and conversion / lead cultivation

Salesforce Lead Management
Track "lead source" and "lead type". This allows them to report on effectiveness by the channel and the offer. Create detailed information to help sales follow-up from the campaign. Assign leads based on open capacity.(rewarding the most efficient reps with the most leads) Adjust lead nurturing based on lead source(lead types show deeper engagement, and which are most likely to close)

Contd…
Define lead status values to your team. Inquiries from current customers are still leads. • Report on lead inactivity.

Is this how your distribution channel views your leads?
Q:
What’s the difference between most leads and a fortune cookie?

A: The fortune cookie might come true!

Startling Facts About Leads
1. 87% are never effectively followed up on 3. 76% of sales people view leads as “cold

calls”
5. 43% of prospective buyers receive

information after they have made a buying decision
7. 10% of exhibitors use any organized form of

post-show measurement

Determining the REAL Cost of Poor Lead Management
Cost Per Lead:
 

Total Show Spend/# Leads Ex.75,000 / 150 Leads = 500 per lead Average Sale Amount x # Lead Conversion % Ex.25,000 x (150 leads x .25% = 38) =950,000 How does not following up impact your company’s brand perceptions in the market? Time loss- since “ time is Money”.

Lost Revenue Opportunity:
 

Brand Perception:

The Exhibiting ROI Truth…

“If you are ever going to produce a financial ROI, it is hidden in your leads.”

Why is this happening?
1. Marketing and Sales “disconnect” 2. Perceived quality of leads 3. Lack of exhibit staff training

86% of booth staff have never received one single hour of professional training on how to work an exhibit 4. Lack of “clarity” on what a lead really is 5. Lack of a “Closed-Loop” lead management system

The “Closed-Loop” Lead Management Process

Keys to a Closed Loop Lead Management Process
Capture the highest quality leads Efficiently Route leads to the right people for fast follow-up Provide an easy method for lead recipients to Report progress and sales conversion

Improving Lead CAPTURE Process
 What Is and Isn’t a Lead
Personal Interaction • Qualifying Questions Asked • Answers Documented • Next Step Identified & Agreed On by Visitor

2.Set a Realistic Lead Goal “Exhibit Activity Level”
 # of exhibiting hours      

25 # of booth staff x 4 total staff hours 100 interactions/hr/staffer x 4 total target interactions 400 % of visitors to lead .25 Lead goal 100

3.What Information does sales Want to Capture to Qualify Leads
2.Project/Application/Need 3.Requirements or

Specifications 4.Product Interest & Level 5.Buying Role 6.Budget 7.Timeframe 8.Decision Team 9.Other?

4.Develop Specific Priority Codes
Time Frame for Budget Purchase Identified
0 to 3 Months 4 to 6 Months 7 to 9 Months 10 to 12 Months More than 1 Year Unknown Yes Yes Yes Yes Yes No

Lead Grade
A+ A B+ B C+ C

Buying Role
Final Say/Specify Final Say/Specify Final Say/Specify Recommend Recommend Recommend No Role

5.Create an Effective Capture Device
 Paper: Business cards, lead form  Electronic: Rent system,

Universal capture system
 “lead from a referral program” Considerations:  Attendee Interaction  Efficiency  Accuracy  Security  Cost

Contd…
Train Your Staff
 Reason for the system  Accountability  Hands-on Role playing  Kick off with contests

Assign a Lead Captain
Collection device Monitor Goals vs Actual Acknowledge & Corrections Entry into CRM Routing

Improving Lead ROUTING Process
Only Route Qualified

Leads
Do it FAST Include All Relevant Data Use Your CRM system, a

web based system, or email a spreadsheet

Improving Lead Reporting Process
End of Shift Lead Review Close of Show Report
 Number of leads captured

versus goal  Cost Per lead  Number and % by priority code

Create Culture of

Reporting
 We captured the info you asked

for  Communicate Cost Per Lead  Cc their Manager

Contd…
Make it Easy
 

Provide basic info Ask for last contact date, next contact date, stage of sales cycle, projected dollar amount and probability of sale

Follow-up on target report dates Notify the team of progress and results Recognize and reward performers

Lead management at a glance

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