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Formalizing Lead Generation

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The biggest challenge when launching a new sales lead- referral program is getting your customer-facing teams on board. If you can successfully motivate the majority of them to participate, you’re …

The biggest challenge when launching a new sales lead- referral program is getting your customer-facing teams on board. If you can successfully motivate the majority of them to participate, you’re guaranteed an increase in revenue.
Take this for example – a major telecommunications company launched a lead-referral incentive program called “Just Ask!” and successfully inspired 83.5% of their customer- facing technicians to participate. The program encouraged technicians to identify up-sell and cross-sell opportunities when doing an in-home repair and then simply ask the customer if a sales rep could call them at later date to discuss the additional products or services. As a result, they generated close to $70 million in additional revenue.
What’s in it for me?
Let’s face it – this extension of your sales force may balk at the idea of going above and beyond when you first launch the program. By training, recognizing and rewarding those participants who help build revenue, you can easily prove they are contributing real value to the organization and in turn, increase their interest in participating. (It also doesn’t hurt to show you are freely sharing the increased revenue with them in the form of rewards.)
Having a direct impact on the company’s success creates what Harvard researchers Teresa Amabile and Steven Kramer call the progress principle. The progress principle states that “of all the things that can boost emotions, motivation and perceptions during a workday, the single most important is making progress in meaningful work. And the more frequently people experience the sense of progress the more likely they are to be creatively productive in the long run.”
The telecom company took advantage of this principle in their lead-referral program by providing frequent progress reports, account statements and real-time entry
of referrals 24/7 via web, mobile and company-automated machine-to-machine technology. They also put a considerable amount of effort into publicly recognizing referral activity, giving technicians well-deserved visibility among their peers and throughout the organization.
A sales lead referral program will not only boost your revenue but will likely improve your employee engagement and customer satisfaction scores as well.

Keep these seven key factors in mind and don’t underestimate the power of the progress principle.

See more at: http://www.biworldwide.com/en/white-papers/sales-channel-effectiveness/formalizing-lead-generation

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  • 1. Formalizing lead generation: How one non-traditional program led to 70 $ Million in sales. Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 2. The Power of Progress: Launching a successful Lead Referral Program BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 3. The biggest challenge when launching a new sales lead referral program is getting your customer-facing teams on board. BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 4. If you can successfully motivate the majority of your team to participate, BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 5. If you can successfully motivate the majority of your team to participate, then you’re guaranteed an increase in revenue. BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 6. If you can successfully motivate the majority of your team to participate, then you’re guaranteed an increase in revenue. You don’t believe us? BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 7. A major telecommunication company launched a lead-referral incentive program and successfully inspired 83.5% of their customer-facing technicians. BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 8. As a result, they generated close to $70 Million in additional revenue. Having a direct impact on the company’s success creates the progress principle. BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 9. The progress principle states “of all the things that can boost emotions, motivation and perceptions during a workday, the single most important is making progress in meaningful work.” BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 10. If you’re considering starting a sales lead referral program in your organization... BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 11. here are a few things you’ll want to keep in mind. 1 Include target participants in the planning process. BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 12. here are a few things you’ll want to keep in mind. 1 Include target participants in the planning process. 2 Communicate why the program is important. BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 13. here are a few things you’ll want to keep in mind. 1 Include target participants in the planning process. 2 Communicate why the program is important. 3 Offer meaningful and appropriate incentives. BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 14. here are a few things you’ll want to keep in mind. 1 Include target participants in the planning process. 2 Communicate why the program is important. 3 Offer meaningful and appropriate incentives. 4 Publicly recognize both effort and achievement. BI WORLDWIDE.com | Australia | Canada | China | India | Latin America | United Kingdom | United States
  • 15. Formalizin Read the complete story... 3 See more keys to a successful lead referral program by downloading our article. g Lead Gen eration: How One Non-T raditional Progra m Led to $70 Million in Sales The Keys to Success If you’re considering starting a sales refe rral lead generation things to consider. program in your organization, here are seven 1. Include tar get participa nts in the pla asking both sales nning proces and non-sales emp s. You will likely be loyees to take on in the planning proc additional tasks. Inclu ess will help them ding key influencers feel a sense of own you with real “feet-on ership and provide -the-street” informa tion. 2. Commun icate why the program is imp participants that add ortant. Spend time itional revenue help explaining to s build job security, and creates opportu allows the compan nities for long-term y to expand and grow career success. 3. Offer me Formalizing Lead ful an Generation: aning d ap incremental $70 Million in propri How one non-traditional program led to revenue so you have sales ate incentives. The increase in sales will be tremendous leeway willingly participate to share the gain. if they see you are Participa being efforts. Bill Johnson, Marketing Team Director, extremely fair to the point of gen nts will more erosity for their extr a 4. Publicly rec BI WORLDWIDE ognize both effort and ach result in a sale whic ievement. Not h can be discoura every referral will ging for participants. thank participants Make sure you reco for their effort, rega gnize and rdless of the end participants engage result. Recognizing d. progress will keep By inspiring 83.5%5. their of Sustain partic ipation with customer-facing technicians p intermittent pro Kee to program the motions and fresh and interesting contests. by offering the opp participate in a lead referral program, ortunity to earn mor key selling seasons, e rewards during for new products, a telecommunications company during slow times your business. Mix or for other situation it up! s in generated $70 million in additional The biggest challenge when launching a new sales lead6. ctively com A referral program is getting your customer-facing teams revenue. municate on an ongoing information, you ates successfully motivate the majority basis on board. If upd can and rem . Provide inders about the prog This can to participate, you’re guaranteed an increase inusing a mix ram of them include print pieces, text of media. messages, environm displays, emails, soci ental signage and al media private grou website. Make your revenue. p sites and of content relevant, prov Take this forsuccessf – a major telecommunications company launched a lead-referral course, a program example iding information ul. on how to make incentive program called “Just Ask!” and successfully inspired 83.5% of their customer- referrals more facing 7. Analyze and share technicians to participate. The program encouraged technicians to identify up-sell results. You’ll gain see where improvem valuable data ask the and cross-sell opportunities when doing an in-home repair and then simplyduring your prog ents can be made ram. Study it to and customer ifparticipants so they can providelater date to where successes can be repeated. a sales rep could call them at discuss the additional products or Share the data with additional insight and wide basis. see how they are services. As a result, they generated close to $70 million in additional revenue. contributing on a companyA sales lead What’s in referral program will not only boo it for me? st your revenue but engagement will likely improve Let’s face it –and customer satisfactsales force may balk at the idea of going above your emp this extension of your ion scores loyee key factors in min as well. When build ing your next prog and beyond whend and don’t underestimate theBy training, recognizing and rewarding , keep you first launch the program. ram these seven power of the prog ress principle. those participants who help build revenue, you can easily prove they are contributing real value to the organization and in turn, increase their interest in participating. (It also doesn’t BI W show you are freely sharing the increased revenue with them in the hurt to orldwide can help you design and imp program. Our programs translate form of rewards.) lement a sales your goals to actio incentive deliver measurable nable initiatives that results. change behavior Having a direct impact For company’s success how BI BI WORLDWIDE on the more information oncreates what Harvard researchers Teresa and WORLDWIDE .com or email us can assist you, visit at info principle. The progress principle states that Amabile and Steven Kramer call the progress @B I WORLDW IDE.com “of all the things that can boost emotions, motivation and perceptions during a workday, the single most important is making progress in meaningful work. And the more frequently people experience the sense of progress the more likely they are to be creatively BIWORLDW IDE productive in the long run.” .com | Aust ralia | Canada | China | India | Latin America | Unite d Kingdom | The telecom company took advantage of this principle in their lead-referral program United States by providing frequent progress reports, account statements and real-time entry of referrals 24/7 via web, mobile and company-automated machine-to-machine technology. They also put a considerable amount of effort into publically recognizing referral activity, giving technicians well-deserved visibility among their peers and throughout the organization. BI WORLDWIDE.com ©BI Worldwide™ 2013 | Proprietary & Confidential Australia | Canada | China | India | Latin America | United Kingdom | United Satees | BIWORLDWIDE.com
  • 16. follow us... BI WORLDWIDE uses the principles of behavioral economics to produce measurable results for our clients by driving and sustaining engagement with their employees, channel partners and customers. Australia | Canada | China | India | Latin America | United Kingdom | United Satees