An Interview with one of the "50 Most Influential Sales Lead Management Professionals": Fred Yee of Active Conversion
Who are your mentors and why?
Jim Estill (RIM director) - time management and leadership advice.
Arthur Wong (Right90) - start-up business experience and capital formation.
What is the most helpful advice you've received to improve your business?
Fail often, fail fast, and fail cheap.
What is the most helpful advice you can give to help others improve their businesses?
Hire the best you can, who hopefully are smarter than you!
How do you give back to the professional community?
Sponsor books, newsletters on sales and marketing. Member of many LinkedIn groups that I contribute to. Contribute comments on groups and blog. We have blogs and eHowTo Guides on lead scoring, nurturing etc., that we provide free of charge.
What is your favorite business book?
Think and Grow Rich by Napoleon Hill
In regards to Sales Lead Management what four basic steps do you recommend:
1. Generate leads and know how you got them.
2. Nurture those leads, and use tools to get them sales-ready.
3. Qualify the leads, and use territory management to ensure the most appropriate sales exec is on it.
4. Understand your sales funnel completely so that you know where the problems are.
In your opinion, the best book on marketing is: Positioning - by Al Ries and Jack Trout
Your reasons for choosing this book are:
It's a timeless book that convinces the reader that there is a buyer for a product, as long as you can occupy the right space. Obvious to understand, yet very difficult to attain.
What would you say to someone who asks what to do first in managing sales leads?
They should understand their sales process, and their funnel. Then they should understand how their sales force operates. They should also see how marketing (and sales) is generating the leads, and determine if they are worthwhile.
Before managing leads a person should know:
1. Are they any good?
2. Can sales close?
3. Is there any operational issues that keep the leads from reaching the end of the sales cycle that can be corrected?
If someone wants to nurture sales inquiries what process would you recommend?
I'm biased, but a lead management automation system should be put into place (along with a CRM) to ensure sales and marketing alignment. With this in place, nurturing becomes automatic, and the payoff can be tied to the nurturing.
What steps would you suggest to measure the ROI for sales inquiries?
Again, the use of a lead management automation solution (LMA). A good LMA should be able to help determine the cost per lead, ROI on leads etc. And then use the KISS principle. Keep it simple stupid. The objective is know the approximate ROI, so that you know what works, and what doesn't. It's not necessary to measure it to the penny.