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Inbound Lead Management Best Practices
 

Inbound Lead Management Best Practices

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Inbound Lead Management Best Practices Inbound Lead Management Best Practices Presentation Transcript

  • Leveraging Tele-Sales For Marketing Part I: Inbound Lead Management Best Practices Aaron Ross www,ColdCalling2.com [email_address] Never waste a lead
  • Experience
    • Plenty of leads, but then what? 
    • Contacting and converting your leads?  
    • Leads never get called, or get only a token effort? 
    • Collaboration with sales?
    Here’s you right now
  • When we’re done.
  • The problem: 80% of the time, lead management (processing & qualifying leads coming inbound to your company) is the best place to quickly increase pipeline and marketing ROI
  • Three Too-Common Bottlenecks
    • Diluted ownership of the marketing-to-sales “baton pass”
      • Who owns the qualified pipeline metric?
    • Under-investment in “Sales Development”
      • Dedicated inbound lead qualification function
      • It’s less sexy than marketing budget or quota-carrying heads
    • Tasking the same reps to both qualify inbound leads and attempt outbound prospecting
      • Oil and water
  • Waste of Energy GARBAGE
  • How Do You Stack Up?
    • Best in class 30% 30% 90
    • Average 20% 20% 40
    • Underperforming 10% 10% 10
    • Do you know? ? ? ?
    Lead-to-Oppty Conversion Rate Pipeline- to-Close Win Rate Of 1000 leads, # that close
    • Treat salespeople as internal customers
      • Fewer, better leads = more revenue & higher ROI
    • Build a “Lead Management Machine”
      • Common language and metrics with sales
      • A dedicated sales development function
      • Well-designed tools and processes
      • CRM best practices
    • Commitment
      • Executive understanding & support
      • Pick one thing to start with and DO IT
    • (4. And a back-of-deck bonus)
    3 Takeaways
  • Panning for gold
  • … With a colander?
    • It’s more like this
    “ 80% of marketing efforts to generate leads are wasted and ignored by sales“ -Aberdeen "A majority of sales leads are wasted every day, and 69% of sales leads receive no follow-up at all” - Brain Carroll
  • How can you plug the holes?
  • Salespeople
  • Salespersons’ shoes
    • Salespeople constantly prioritizing
    • They will call current customers before suspect leads
    • 80/20 rule:
      • If less than 20% of the leads are ‘highly productive’ right away, they might de-prioritize that entire source of leads
      • It’s not the # of leads, it’s the average quality that is critical
  • Simplicity
    • The better the average quality across all leads given to sales…
    • The easier it is to follow up on leads…
    • The more sales will follow up & close …
    • The higher your marketing ROI goes
    Sales: “Don’t Make Me Think”
  • What to do
    • Your choice:
    • A) Get frustrated, or…
    • B) Consider them as customers
    • How can you deliver gifts that sales is consistently excited to open?
  • Do “less”, Qualify more
    • Give quality, not quantity – less is more!
    • If you don’t have one, create a sales development role
    • If you have a sales development role, improve it’s qualification criteria and process
    • Train (and train, and train…) salespeople on your CRM system and lead processes
  • Best practices
  • Taxonomy
    • Everyone uses different terms…here is how we use some:
    • Lead
      • A suspect who registered on your website (or responded to a marketing campaign), but has not yet been qualified
    • Opportunity
      • After a lead is qualified, it is an active sales opportunity
    • Sales Development
      • A function that bridges marketing and sales. Sales Development’s core purpose is to process inbound leads, and route qualified ones to the correct salespeople.
    • Inbound / Inbound lead management
      • the flow of leads coming “inbound” to your website, either because of marketing programs or word-of-mouth.
    • Outbound / outbound prospecting
      • Tele-marketing, cold-calling, prospecting…an inside salesperson is proactively contacting cold or stale accounts
  • Start here
    • Define a common language with sales
      • What’s a “lead”? What’s a “qualified opportunity”?
      • What are each group’s commitments to each other?
    • Create a sales development role to qualify leads
      • Separate “inbound” from “outbound” [!]
      • Estimate one rep per 400 relevant leads/month
        • Excluding junk, wrong markets, duplicates, etc.
      • Comp: 50% monthly goals, 50% on revenue
  • Agree on a few, most important metrics
    • Most Common :
    • Inbound lead volume (leads/month)
    • % of leads converted to qualified opportunities
    • Qualified pipeline generated per month
      • And what is needed per month to hit revenue goals
    • Pipeline-to-close rates
    • Measure these metrics monthly
    • These metrics should also be further sliced by type of lead or market segment
  • CRM best practices (principles)
    • Leverage tools in stages:
      • First do more with your CRM system
      • Then worry about adding in ‘extras’ such as Ringlead, Genius…
    • Avoid perfection!
      • Make it usable and maintainable rather than perfect
    • Use dashboards (across the company)
      • Especially in meetings instead of excel – drive adoption
      • Create one for your CEO
    • “ Adoption boosters”
      • Training, laminated color handouts, contests, donuts…
    • It’s a journey, not a destination
  • Executive commitment
    • Common roadblock : executives with pure enterprise sales backgrounds
      • “ Website leads are a distraction” (a real VP Sales quote)
    • YOU have to believe first!
    • Educate them, relentlessly
      • Dashboards for visibility of issues
      • Results-based analytical tools (see bonus section)
      • Demonstrate before-and-after results
  •  
  •  
  • The water’s fine. DIVE IN!
    • Treat salespeople as internal customers
      • Fewer, better leads = more revenue & higher ROI
    • Build an “Inbound Lead Machine”
      • Common language and metrics with sales
      • A dedicated sales development function
      • Well-designed tools and processes
      • CRM best practices
    • Commitment
      • Executive understanding & support
      • Pick one thing to start with and DO IT
    • (4. And a back-of-deck bonus)
    3 Takeaways
  • Next month: Part II
    • You’ve dramatically improved inbound lead management…
    • … now you want better results from mid-market/enterprise leadgen.
    • How can you leverage tele-sales to break through the clutter and generate more qualified leads?
    • Aaron Ross
    • [email_address]
    • 415-312-2579
    • www.ColdCalling2.com
    Design: David Stychno (david@c2llc.com) Thanks to Erythean Martin (erythean@gmail.com) Coming: ColdCalling2.com Thank You
  • Appendix
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  • 2. Separate the core functions OUT Account Management Bound Qualification Sales Sales Development Marketing Generated Leads Bound Prospecting IN Qualified Opportunities New Customers
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    • Aaron Ross
    • [email_address]
    • 415-312-2579
    • www.ColdCalling2.com