Your marketing team can work tirelessly, and your sales team can burn the midnight oil trying to convince people to buy your product, but if you make the #1 Lead Management mistake, much of that effort is immediately lost. This simple mistake can cause lost productivity, loss of revenue, and bad information to feedback into the company and create further issues.
All this can be avoided by simply responding quickly to every lead.
This may seem like such a small aspect of the process, but a quick response from your sales team is exactly what will keep a lead considering your product over the product of your competitors and what will avoid this common lead management mistake. Consider how not responding quickly impacts the return on investment from each of the following marketing efforts.
Targeted Search Engine Advertisement
If you are spending the marketing budget on keyword analysis and then purchasing advertisements for important keywords on search engines, you want every single click through to result in a purchase. However, for every lead that passes unnoticed or is addressed too late, these advertisements still charge the company. This can lead to a lead management mistake that can be found and solved.
By responding quickly to Adwords and other search engine traffic driven by ads, your sales team gets to guide the new customer through the purchase process, rather than encountering them after they’ve either already grown frustrated or chosen a competitor’s product. Creating marketing automation that informs the sales team of new leads from Adwords is an essential component of keeping response times low. Following up on Lead Management may happen multiple times after that initial contact, but the biggest predictor of success is that original response time.
Email Marketing Campaigns
Email Marketing campaigns can be great for gauging customer interest because even a single clickthrough can qualify as a customer inquiry. However, there must be very little time between this inquiry (sometimes in the form of an actual question, other times simply by clicking through your site) and a personalized follow-up from a sales representative. There needs to be a way to filter and find the valid sales leads so that your sales team gets the most revenue generated for the time they spend engaging with leads.
In order to accomplish all of this, a clear lead management workflow is essential because every minute between steps will lose some of your potential leads. Quickly responding in a personalized manner or incorporating that lead into the correct drip campaign is the difference between a customer and a missed opportunity.
How Fast? Faster Than The Competition
Many numbers have been attached to the speed with which sales teams need to respond to different kinds of leads, but the truth is that the main goal of using the alerts within Customer Relationship Management software is to be the first to respond to a lead. After all, most consumers are now using the internet to find multiple potential vendors for whatever they wish to purchase, and the best possible time to sell a product is when the person is already looking to buy. However, if you are the last to respond to an inquiry (or to the fact that they browsed through your website content), you may not get the chance to ask the customer, “How may I help you?”
Instant updates are already the name of the game in CRM software, but structuring your sales team around making sure these leads are followed immediately needs to be a priority. Creating a culture that places the urgent work of lead follow-up above other tasks that are truly not so time-sensitive will yield incredible ROI. An important step in this process is distinguishing any lead from a qualified lead, so that no time is wasted pursuing unlikely opportunities when someone is trying to make a choice about your product as you work with someone else.
How to Respond Quickly Every Time
Finding a lead management solution that works for you requires reliable software, a corporate culture that intelligently segments the leads you receive, and a team that can help you maximize the utility of their product. SalesNexus provides the support you need and the robust software you need to avoid the #1 lead management mistake and take advantage of all this software can offer your business.