“Statistics show that a large portion of leads fall by the wayside because of inadequate lead management systems, poor organizational skills, and varied levels of diligence among salespeople.”
e-Book Title: Mastering the Lead Management Process for Inside Sales
Published by/Authors: VanillaSoft
Length: Eight Pages
Research has shown:
- The analyst firm Yankee Group estimates that between 40% and 80% of sales leads are dropped between marketing and sales – that is, they were lost, never qualified, and most likely fell out of the system.
- SiriusDecisions, a leading global B2B research and advisory firm, found that 80% of B2B prospects that enter a company’s sales funnel will buy a product or solution within two years from one company or another. So why shouldn’t it be yours?
This ebook on lead management is an outline for creating a lead management process for inside sales:
- Plan: A step by step process for the sales reps
- Qualify: Define a qualified lead, they still believe in BANT (Budget, Authority, Need and Time-frame). Get a lead qualification team in place
- Workflow: Distribution of leads and workflow go together. They emphasize a queue-based system
- Nurture: “Companies that excel at lead nurturing generate 50% more sales at a 33% lower cost.” Quote from Forrester Research
- Track the stats: SLMA note: Measure what you manage or someone will do it for you
- Training and monitoring creates a first-class sales team
- Analyze patterns and improve
This is a checklist of basics and basics are never out of style when it comes to sales lead management. With the turn-over in sales and marketing staff, a two-year review is mandatory to keep sales lead management on track.
An average company has 10-15 different people touching the sales leads,in 3-5 departments, plus all of the outside vendors -another 5-10 companies. Salespeople have 3-7 different software programs to work with, many of which have to do with sales lead management. And then the salespeople get their opportunity to turn the prospect into a customer. Lovely.
New people come in, tasks are dropped without anyone knowing it, salespeople suffer, sales drop and its usually because the basics of sales lead management are ignored. New software is introduced and it is often not integrated with the existing process. New management comes in and without looking at the established process, makes changes.
DON'T FORGET, SALES LEAD MANAGEMENT IS REVENUE MANAGEMENT
- Marketing Operations
- Content Management and Creation
- Product Management
This review was conducted independently without the advice or consent of the publisher.
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