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Lead Management

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Lead Management

  1. 3. What Is Lead Management? <ul><li>One definition of lead management is: </li></ul><ul><li>Lead acquisition / data capture </li></ul><ul><li>Data cleansing and lead import </li></ul><ul><li>Lead distribution </li></ul><ul><li>Lead enrichment, scoring, and </li></ul><ul><li>prioritization </li></ul><ul><li>Lead qualification </li></ul><ul><li>and conversion / lead cultivation </li></ul>
  2. 4. Salesforce Lead Management <ul><li>Track &quot; lead source &quot; and &quot; lead type &quot;. This allows them to report on effectiveness by the channel and the offer. </li></ul><ul><li>Create detailed information to help sales </li></ul><ul><li>follow-up from the campaign. </li></ul><ul><li>Assign leads based on open capacity.( rewarding the most efficient reps with the most leads) </li></ul><ul><li>Adjust lead nurturing based on lead source( lead types show deeper engagement, and which are most likely to close) </li></ul>
  3. 5. Contd… <ul><li>Define lead status values to your team. </li></ul><ul><li>Inquiries from current customers are still leads. </li></ul><ul><li>Report on lead inactivity. </li></ul>
  4. 6. Is this how your distribution channel views your leads? <ul><li>Q: What’s the difference between most leads and a fortune cookie ? </li></ul>A: The fortune cookie might come true!
  5. 7. Startling Facts About Leads <ul><li>87% are never effectively followed up on </li></ul><ul><li>76% of sales people view leads as “cold calls” </li></ul><ul><li>43% of prospective buyers receive information after they have made a buying decision </li></ul><ul><li>10% of exhibitors use any organized form of post-show measurement </li></ul>
  6. 8. Determining the REAL Cost of Poor Lead Management <ul><li>Cost Per Lead : </li></ul><ul><ul><ul><li>Total Show Spend/# Leads </li></ul></ul></ul><ul><ul><ul><li>Ex.75,000 / 150 Leads = 500 per lead </li></ul></ul></ul><ul><li>Lost Revenue Opportunity : </li></ul><ul><ul><ul><li>Average Sale Amount x # Lead Conversion % </li></ul></ul></ul><ul><ul><ul><li>Ex.25,000 x (150 leads x .25% = 38) = 950,000 </li></ul></ul></ul><ul><li>Brand Perception : </li></ul><ul><ul><ul><li>How does not following up impact your company’s brand perceptions in the market? </li></ul></ul></ul><ul><ul><ul><li>Time loss- since “ time is Money”. </li></ul></ul></ul>
  7. 9. The Exhibiting ROI Truth… <ul><li>“ If you are ever going to produce a financial ROI, it is hidden in your leads.” </li></ul>
  8. 10. Why is this happening? <ul><li>Marketing and Sales “disconnect” </li></ul><ul><li>Perceived quality of leads </li></ul><ul><li>Lack of exhibit staff training </li></ul><ul><ul><ul><li>86% of booth staff have never received one single hour of professional training on how to work an exhibit </li></ul></ul></ul><ul><li>Lack of “clarity” on what a lead really is </li></ul><ul><li>Lack of a “Closed-Loop” lead management system </li></ul>
  9. 11. The “Closed-Loop” Lead Management Process
  10. 12. Keys to a Closed Loop Lead Management Process <ul><li>Capture the highest quality leads </li></ul><ul><li>Efficiently Route leads to the right people for fast follow-up </li></ul><ul><li>Provide an easy method for lead recipients to Report progress and sales conversion </li></ul>
  11. 13. Improving Lead CAPTURE Process <ul><li>What Is and Isn’t a Lead </li></ul><ul><ul><li>Personal Interaction </li></ul></ul><ul><ul><li>Qualifying Questions Asked </li></ul></ul><ul><ul><li>Answers Documented </li></ul></ul><ul><ul><li>Next Step Identified </li></ul></ul><ul><ul><li>& Agreed On by Visitor </li></ul></ul>
  12. 14. 2.Set a Realistic Lead Goal “ Exhibit Activity Level” <ul><ul><li># of exhibiting hours 25 </li></ul></ul><ul><ul><li># of booth staff x 4 </li></ul></ul><ul><ul><li>total staff hours 100 </li></ul></ul><ul><ul><li>interactions/hr/staffer x 4 </li></ul></ul><ul><ul><li>total target interactions 400 </li></ul></ul><ul><ul><li>% of visitors to lead .25 </li></ul></ul><ul><ul><li>Lead goal 100 </li></ul></ul>
  13. 15. 3.What Information does sales Want to Capture to Qualify Leads <ul><li>Project/Application/Need </li></ul><ul><li>Requirements or Specifications </li></ul><ul><li>Product Interest & Level </li></ul><ul><li>Buying Role </li></ul><ul><li>Budget </li></ul><ul><li>Timeframe </li></ul><ul><li>Decision Team </li></ul><ul><li>Other? </li></ul>
  14. 16. 4. Develop Specific Priority Codes
  15. 17. Contd… <ul><li>Training Staff </li></ul><ul><ul><li>Reason for the system </li></ul></ul><ul><ul><li>Accountability </li></ul></ul><ul><ul><li>Hands-on Role playing </li></ul></ul><ul><ul><li>Kick off with contests </li></ul></ul><ul><li>Assign a Lead Captain </li></ul><ul><ul><li>Collection device </li></ul></ul><ul><ul><li>Monitor Goals vs Actual </li></ul></ul><ul><ul><li>Acknowledge & Corrections </li></ul></ul><ul><ul><li>Entry into CRM Routing </li></ul></ul>
  16. 18. Improving Lead ROUTING Process <ul><li>Only Route Qualified Leads </li></ul><ul><li>Do it FAST </li></ul><ul><li>Include All Relevant Data </li></ul><ul><li>Use Your CRM system(a web </li></ul><ul><li>based system) </li></ul>
  17. 19. Improving Lead Reporting Process <ul><li>E nd of Lead Review </li></ul><ul><li>C lose of Show Report </li></ul><ul><ul><li>Number of leads captured versus goal </li></ul></ul><ul><ul><li>Cost Per lead </li></ul></ul><ul><ul><li>Number and % by priority code </li></ul></ul><ul><li>C reate Culture of Reporting </li></ul><ul><ul><li>Contact their Manager </li></ul></ul><ul><ul><li>Use Contest to Kick-off </li></ul></ul>
  18. 20. Contd… <ul><li>M ake it Easy </li></ul><ul><ul><li>Provide basic info </li></ul></ul><ul><ul><li>Ask for last contact date, next contact date, stage of sales cycle, projected dollar amount and probability of sale </li></ul></ul><ul><li>F ollow-up on target on dates </li></ul><ul><li>N otify the team of progress and results </li></ul><ul><li>R ecognize and reward performers </li></ul>
  19. 21. Lead management at a glance