Sales Lead Management Today

Proud of my daughter's success in her current career.

As parents we watch our children grow, go to college, start careers. They start learning from us and our examples. They learn from their peers, professors, internships. Sometimes they don't realize what has soaked in from our teachings and examples.

Sales Management:

She only has a seaonal business. Each year she adds another 25% to her customer base. She reconnects with her clients and shows them new product, talks about any pricing changes, profitability and the company's mission. She's passionate and truly listens to her customers. They feel valued and are loyal to her efforts.

Qualified Leads:

As most are from her local farm, or referrals, 90% of her leads are qualified. There are unforeseen wrenches that she can't always combat, but she shakes them off and makes room for the next sale.

Lead Nurturing:

She follows up with last year's customers, asking them if they have an referrals for her in the area, then following up immediately mentioning the original customer as the one who sent her to them.

Now go do the right thing!

As we start the New Year, we ask ourselves, what is the ‘right thing’? Most people will recite a long
list of ‘right things’ about their personal lives. How will they treat their spouse, children, friends and everyday acquaintances? Losing weight and developing healthier habits lead the list of must-do’s for 2013. Generally, most people think of New Year’s resolutions in terms of their personal life goals. 

But what is the right thing to do in business?

But what is the ‘right thing’ in business? Honesty? Of course! The Golden Rule? Of Course! Digging down deeper into my own business life “Doing the right thing” means delivering on promises made, not placing blame on others, skipping excuses and taking responsibility. It comes back to the “No excuses, Sir” mentality that was drummed into me earlier in my life.

Doing the right thing in sales and marketing management can take a few twists and turns.

As a marketing manager, I think doing the right thing means to:
    • Spend the company’s money wisely to create revenue in a predictable manner.
    • Be accountable for what you spend to create demand.
    • Use marketing automation to reduce the marketing cost and increase revenue.
    • Manage the company’s most valuable new asset, new prospects. Manage the leads.
    • Lead by example and learn to respond to the salespeople’s needs.
    • Accept the occasional failure with the same grace that you accept accolades for doing well.

As a salesperson, I think doing the right thing means to:
    • Make quota as you promised on the day you were hired.
    • Follow-up all sales leads because these are the company’s most perishable asset.
    • Use the CRM system to the fullest extent possible.
    • Be honest with prospects and customers, without exception.
    • Learn the actions and habits of the company’s most successful salespeople.
    • Write a sales territory plan for the year. How will you make quota?

Doing the right thing really isn’t that hard. It is said a poor sailor blames the wind. As John G. Miller said in his book, QBQ, “A poor worker blames the tool…and a poor coach blames the players.”

Take personal responsibility for your business life; take blame out of your lexicon and “Doing the Right Thing is easy.” You already know what that is, right? _______________________________________________________________________________________ Footnote: Popular talk radio host and author Dr. Laura Schlessinger, used her catchy phrase "Now go do the Right Thing"  at the end of each show segment.

How do you get a donkey to drink?

Wisdom says, “You show him a drinking donkey.” How true it is in our relations with co-workers in Sales and Marketing, that we often tell, mandate, demand, coerce, force, pressure, compel, dictate and intimidate…but we seldom lead by example.

For instance:

1. There is the sales manager who tells his salespeople to use the CRM system, but doesn’t use it herself.

2. There is the marketing manager who mandates that ROI be a part of every lead generation program, but doesn’t do it for trade shows, webinars or pay-for-click advertising.

3. There is the company president who demands that quotas be met, but cuts the marketing lead generation budget in the last three months of the year, every year.

4. There is the sales manager who coerces his salespeople to use the CRM system and then allows them to do double work by reporting on their sales funnel using Excel.

5  There is the company president who forces new products on his sales channel without realizing he has to increase the number of people selling or some products will fall short; there are only so many selling hours.

6. There is the sales manager who pressures his salespeople to follow up every sales inquiry and lead but allows them to stop after the first phone call.

7. There is the marketing manager who doesn’t compel his department to prove the return on investment for lead generation while demanding 100% follow-up from salespeople.

8. There is the company president who dictates marketing dollar budgets while disconnecting lead generation from quota attainment. This is the same president who fails to approve marketing spending early in the year to support sales.

9. There is the sales manager who intimidates Marketing and refuses to enforce a 100% follow-up of sales leads.

All of these little habits and quirks are tugging on the productivity of Sales and Marketing. They aren’t mean spirited; they are just human faults and failings. And yet if we are to overcome these issues, one by one, we have to show by example how to make the donkey drink. We have to calmly and matter-of-factly demonstrate to our junior and senior managers that things can change.

The answer lies not in telling, mandating, demanding, coercing, forcing, pressuring, compelling, dictating and intimidating, but in leading by example with sound judgement and common sense. 

Why don't women in business take credit for their achievements?

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SLMA Director, Susan Finch had a lively conversation with Jill Rowley of Eloqua, deciphering what keeps women from taking credit for their own accomplishments. They also discussed what separates women who are comfortable standing up for themselves, their skills and accomplishments from those who quietly take the back seat, frequently to a man in a lateral position.

Following are some of the highlights of their discussion.

As reported by CNN just last month, 57% of men negotiate their starting salaries, yet only 7% of women do.  Why?  Taking into account that many women are single or the primary earners in their families, this is a staggering gap and would lead one to deduce that the lack of negotiation on the part of women has nothing to do with skills, education or need.  Statistics also show that women walk away from careers or leave the workforce well before they reach higher positions they are qualified for, primarily due to projecting years in advance about marriage, motherhood, or potential failures, thereby sabotaging their own success.  Not surprisingly, women who work outside the home still take on the bulk of household chores whether or not they share their homes with a spouse and/or children of age to assist. Even in instances where the woman is the primary earner for her family, the household duties stereotypically tagged as “Mom work” often await her and are not divvied up amongst the rest of the family. If Mom wants clean underwear, she’s likely doing the laundry after a long day at the office, after she’s picked up dinner and stopped by the dry cleaner.  Both men and women clearly seem to agree there are still women’s roles that aren’t as quickly picked up by men, even though women today do jobs (quite well) that once were thought of as men-only positions.

This brought up another topic, the likes of Maureen Reagan. Had she been a man, she would have been better received by women. Women were intimidated by her strength, but why?  Susan suggested that too often women are considered ball-busters when they are acting no differently than men would in parallel situations, but it is outside the EXPECTED behavior of women which makes men and women uncomfortable.

Recognizing that in order to succeed, we have to embrace failures, Jill said, "I eat failure for breakfast so that I can dine on success for lunch and dinner."  Jill is a big fan of Ted Talks (http://www.ted.com/talks ) There have been some inspiring speakers on this topic of women's worth in the workplace – it's an inside job.  It begins withIN us.

EMBRACE your feminine qualities. It sets you apart, but even more, it’s just what you are. You’ll never, EVER find a man looking for a less masculine suit or asking for a haircut that softens his features! If you feel like a million bucks wearing the heels that give you legs up to there wear them and click-click-click your way right into the board room. Have confidence! Being feminine in business doesn't have to take on negative connotations such as tacky, trampy or loose. If you’re speaking with authority and members of the roundtable can’t take their eyes off you in your well-fitted pink blouse or red-soled Louboutins – all the better! Now you’ve got their FULL attention!  Being a woman in business is about balance – a balance of grace, dignity and confidence without apology for being in-your-face when it’s called for. Business is business so pull on your big girl pumps and get to it!

Jill and Susan are talking about those “woman shoes” in this episode.  How do women dress when they go out for an evening of business networking in mixed company? What about when it's just with other women? Do they tend to dress like "strong males" with slacks, jackets and flats? The women on this show are fans of Carlos Santana, Jimmy Choo, Kate Spade, Steve Madden and other feminine designers who know you may want to actually walk a few blocks in their amazing designs and look good doing so. If Kate Spade can build a business designing clothing and accessories, what sense does it make that a business woman wouldn’t wear them… to work?

The importance of doing time in the trenches for any supervisor position (the credibility is necessary) is also covered.  Coming straight from an inside position into a higher role is tough for some teams to swallow if the new superior never walked in their shoes (that they know of). While it does sometimes happen, there’s a finesse to moving through the ranks and settling in while demonstrating qualifications and leadership for the role.

To hear the entire show click below.

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About Jill Rowley:

Jill Rowley continues to be a force in the sales lead management industry. A pioneer in the space, Jill has become an expert and global companies (Rally Software, DocuSign, ArcSight) turn to her for guidance and knowledge.

Jill has spent the past 10 years building the marketing automation space with Eloqua and joined after 2 years with Salesforce.com. She is passionate about helping companies and individuals within those companies optimize their revenue engines by providing the knowledge they need to modernize their people, processes, data, content and technology. Jill has been an individual quota carrying Sales Rep for the past 12 years, but many of the experts, analysts, consultants and thought leaders know Jill is actually the “Chief Customer and Community Ambassador.”

 

About Susan FInch:

Susan Finch has had her own web solutions business since 2001 the day her daughter was born. She had to cancel a meeting with her largest client because she had gone into labor. She seized the opportunity to reformulate her day-to-day work life to include her home life. It was the beginning of great succcess at both ends. She began in PR/Marketing in 1985 at a small company in Irvine, California.  In 1996 she transitioned into web design, while staying true to her PR and Marketing roots. Her clients benefit from the sum of these experiences.

 

How to get leads with LinkedIn Groups in 3 steps

By: Jeff Molander

Earning leads with LinkedIn Groups is easier than you might think. The trick is provoking your target market into contacting you for more details by teasing them with content that they cannot resist interacting with. This gets customers to click to your Profile and onward to your blog--where they can more clearly understand the thought you just provoked.

"Experts” say being engaging in LinkedIn Groups is the key to generating leads with LinkedIn. Finding crafty ways to mention your blogs, webinars or new product releases within LinkedIn Groups, they claim, will create more appointments, leads and sales. "Engaging" is like magic. But you know it's not true. Here's what works.

The System Revealed

I’m creating leads and sales using blogging, podcasts and LinkedIn Groups with this simple system. I...

1) Create valuable content (answers to burning questions)
2) Monitor for people demonstrating need for it (in LinkedIn Groups)
3) Reveal answers in ways that create cravings for more of what I have to share 

The last step is where I provoke reaction--beyond sharing. This part is key. I make sure to not “tell a story” or “provide valuable content” or educate my target market. We hear a LOT about these as successful tactics but it's mostly social media guru blather. You've got to get people to do MORE than share the content.

What is the chain of Custody in Lead Generation and Management?

In law enforcement and medical fields, there are things called “chain of Evidence” and/or  “chain of custody.”   The chain of custody begins when evidence is collected, and the chain is maintained until the evidence is disposed of. The chain of custody assures continuous accountability. This accountability is important because, if not properly maintained, an item may be inadmissible. If not admissible the case is lost.

Unfortunately, in the fields of lead generation and management there is an unspoken agreement that sales leads should be “in a chain of custody” to be sure there is a 100% accountability (follow-up); but no one takes the chain of custody mandate seriously.   Marketing looks at this issue as a "hand-off" compliance problem.  

When the chain of custody is broken no one is well served; the lead generation people don’t know what happened, the salesperson fails, and marketing can’t say that the money they spent on lead generation is measurable. If this were a court of law, the judge would rule that in most companies the chain of custody is broken when:

1. Follow-up fails
2. Salespeople fail to record the results.

In legal and medical circles there are forms created that go with the “evidence” and each person that takes possession signs the form which proves that no one lost or tainted the evidence.  In our industry, the CRM system is used as the “Chain of Custody” recording device. The recording device doesn’t fail, the people with the responsibility of contacting the prospect and recording the results fail. What is supposed to be a straight pathway turns into a people-dependent sloppily-recorded process fraught with failure.

• The prospects ask for information about the company’s product.
• The need is recorded in the CRM System.
• Maybe the inquiry or lead is given to the sales person. Maybe not.
• The CRM system may be connected to a marketing automation system that delivers content to the prospect. This may also include a telemarketing call.
• Marketing automation follows up and makes up for salespeople who fail to contact the prospect.
• Marketing automation work-flow processes notify the salesperson when the prospect is interested (sales ready?).
• The sales rep down-loads the lead and 75% of the time ignores the prospect (many reasons given, none justified unless the prospect has died in the meantime). Excuses include:
    o No phone number.
    o No email address.
    o gmail or Hotmail or similar free email address.
    o Sales Rep doesn’t have a quota on the product.
    o Prospect inquired before and didn’t buy.
    o Prospect is not geographically desirable to the sales rep.
• The sales rep may or may not record the sales in the CRM (chain of evidence recording device).
• Marketing cannot measure the ROI to C-Level managers.
• Marketing cannot decide on evidence which lead generation program worked or didn’t work.


We have heard for years that sales inquiries and leads are not followed-up. The “chain of evidence” is broken. Unless of course you insist that there are no breaks. This is an enforceable decision.

• Sales management enforces a rule for 100% follow-up of all inquiries and sales leads.
• Marketing starts the “chain of custody” by capturing the inquirer, putting the name and qualifying information into a CRM system plus, manage nurturing.
• Sales reps close out all inquirers as won or lost.
• Marketing runs reports showing the ROI of all leads generated.
Those who keep the chain of custody win. Those who break the chain of custody fail 75% of the time.

Nominations close at 5 PM PDT Oct 29 for the 50 Most Influential PPl in Sales Lead Management

The Sales Lead Management Association said  that nominations are open until 5 PM PDT on October 29th for its annual election of the ‘50 Most Influential People in Sales Lead Management’ – 2012.  Only members of the SLMA may nominate people they think deserve recognition (membership in the SLMA is free), followed by a voting period from November 1st through November 30th (also members only). On December 5th, the ‘Top 50’ winners will be announced in the order of highest votes received. The complete rules for nominations, as well as nomination forms, are available on the SLMA site. www.theslma.com

Free membership 

The man who complains about the way the ball bounces is likely the one who dropped it.”

Yes, it is Lou Holtz, week and I love his wisdom. Especially this quote. 

When it comes to sales lead management, there are two groups of people who complain about the way the ball bounces.

1. Salespeople complain that they don’t get enough qualified leads, and yet stats say they don’t  follow-up 75% of the inquiries and leads given them.

"When all is said and done, more is said than done!”

Yes, Lou Holtz, the legendary football coach said this,* and how true it is in the sales lead management industry. In spite of all of the software tools available and the lip service given to proving the ROI for sales leads, I see few marketing managers step forward to actually prove lead gen ROI. It’s discussed and hammered on in webinars, seminars and workshops, and by keynote speakers and vendors. It’s included in most proposals by CRM and marketing automation companies. So why is it talked about more than it is done?

I have learned that there are basically two reasons people don’t do something: they don’t know how or they don’t want to. Often, these issues are interconnected. When it comes to lead management and marketing ROI, there are subsets of these two thoughts:

• They don’t know how to measure the ROI.

• Being held accountable is not their first choice.

• They don’t want to measure the ROI for lead generation.

Why Marketing Automation Needs Outbound Telemarketing

Debra Da Costa was recently interviewed on SLMA Radio to discuss the two independent disciplines and how they are becoming interconnected.  Oubound Telemarketing can stand on its own, but can Marketing Automation?  Litsten to hear thoughts on this subject:

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Outbound Telemarketing is usually called in when Sales and Marketing are scratching their heads of how to handle digital clutter. helps to have someone from telemarketing to follow up on the vast quanities of leads - at least as a prequalifier, otherwise sales force cannot be relied on to call on these leads at the right time.