Article: Travis Stanton, Editor Exhibitor Magazine
Cost: Free, but it’s worth millions in sales if taken seriously.
Available link: Lead Time Research
Why it’s important:
Billions are spent on exhibits which companies admit are all about sales leads and yet lead handling is dismal, depressing, sad, miserable, and otherwise shameful considering how exhibits can identify qualified leads and shorten most companies sales cycle. The ones who get it right are brutally beating their competitors.
Highlights and Low-lights
The article has lots of statistics and graphics, 90% is an infographic. This 2015 study is comparing stats with 2010. The Exhibitor Group is to be commended for publishing this study which has a few bright spots, but not many.
• 59% do not have a formal lead-scoring or lead ranking process.
• 46% said data collected was moderately to not useful.
• 46% said leads are qualified by staff conversations.
• 63% don’t set a goal for the quantity of leads they hope to collect.
• 70% have a recognized lead follow-up plan.
• 58% of the leads are entered into a CRM system.
• 35% report on leads that turn into a sales.
• Only 3 out of ten exhibit managers track the cost per lead from shows.
• 62% say follow-up occurs by the fifth day after a show.
• An average cost per lead from those who do track it is $164.91.
• 59% track leads through the purchase cycle.
• Only 67% train their staffers on lead related training.
There is more, lots more.
Don’t shoot the Exhibitor Group which is the messenger here, they asked the questions and the respondents revealed what most people know: sales lead management is dismal in most companies.
The quotes in the article from respondents can bring tears to a CEO’s eyes, you’ll have to read it yourself.
How it was done:
2015 Sales Lead Survey. Marketers representing nearly 150 different organizations responded to the survey, and their answers were compared to benchmark data established via it’s 2010 Sales Lead Survey.