Making more leads

Leads are the lifeblood of a telemarketing operation, but the way that many companies deal with leads and potential leads is not pinned down well enough either in meaning or practice.

Sales staff need to have qualified leads passed to them - that is, leads which are either sales-ready (i.e. NOT just an inquiry) or inquiries with supporting information. It needs to be clear which is which, so when the sales staff phone out, they can approach the customer with the correct technique and information.

Sales staff are under high pressure, even more so when there is a complex sale the staff focus on what is immediately relevant and likely to produce revenue - not any other information. Sadly, this is because they are not paid to do anything else. Because of this. they see quality as more important than quantity.

If you are in the marketing department or company, do you send your sales team properly qualified leads or just inquiries? They are not the same thing. An inquiry is someone who has requested information and needs clarification or help. But inquiries are not the same as leads. A lead is only a lead once it’s been qualified.

There is plenty of research to show that as little as 5 percent to 15 percent of all inquiries are genuine sales-ready leads. When leads that are sent to the sales team are in fact mere inquiries, then often they are not ready for a salesperson to close and frequently a waste of time for sales staff.

It is a big mistake to send inquiries forward as leads. When inquiries are not systematically qualified, it doesn’t take long for sales staff to start viewing all “leads” with caution. Without clear agreement of what a qualified sales lead should be, the genuine leads mixed in with the inquiries have less chance of progressing to a sale.

The following guide will help you to reduce these issues and make everyone’s lives easier and the sales process more productive!

Step One: What is a Lead?

It’s surprising how few companies have a clear definition of what a lead means. It is important that the definition of a lead is clear, written down and agreed upon by both by sales and marketing. From very small to very large companies, this process is hugely important. It is important that all leads can be compared to an agreed standard by sales and marketing staff.

A lot of hard work can be wasted if your company doesn’t address this vital issue. On top of this, poor communication and frustration can build up between the marketing and sales force. In the long run, finances and morale suffers.

The technique will bear most fruit if the definition is applied to all leads however generated. It is important that you implement the system fully and embrace its benefits. The definition must apply to leads from all sources as this is critical to implementing the programme. A standard will now exist which your lead generation efforts can be measured against. You must be able to compare like with like or the system will fail. The most important thing is that the definition of a lead must be agreed on by both sales and marketing staff.

Every potential customer is compared to the lead definition. Having a standard allows the staff to decide which lead is most likely to close in a sale. The lead definition can be determined like this:

Meet: Experienced sales and marketing staff need to meet under neutral conditions. A leader should be chosen, and should be someone who ideally has experience of both sales and marketing. They need to be a trusted and genuine individual who can mediate at any difficult times.

Question: The team need to discuss some key questions. What classifies as a lead? What does the ideal sales opportunity look like? What is essential information? What is desirable information? Who do we need to contact? Who’s important in the buying process? What are the needs we are addressing?

Agree: Can you distill the criteria to a simple checklist or key?

Promote: Ensure that everyone is familiar with the agree criteria and knows how to use them.

Refine: The team should re-convene regularly to assess and review the effectiveness and suitability of the criteria. The meeting is intended to assist the criteria to be changed to more closely fit the needs of the teams.

Republish: The improved criteria should replace the previous incarnation and everyone should be educated on the new version.

Here is an example of the criteria you might recognise a hot lead by:
* Marketing staff have spoken with the financial decision maker;
* The company meets the ideal customer profile;
* The company has a clear need for the service/product you sell;
* The company has a desire to solve their problem;
* Decision to buy is made in six months or less;
* A budget exists or will exist, and is known (preferably)
* The company is ready to talk to a sales consultant.

A consistent approach to qualifying leads will improve confidence in the quality and viability of leads. Your sales staff will become more confident and can focus on those prospects who have a sure interest and need.

COMING SOON:

Step Two - Consolidating and Sharing Your Lead Information