Sales Lead Management AssociationSM Newsletter
In this Issue
►CSO
Life Cycle Optimization 2008 Analysis is Worth Reading and Heeding
►How
Much is an Internet Lead Worth?
►Referral Program to Increase Leads.
►Utilize "Nurture Marketing"
►How Do Marketers Screw-Up Outsourced Telemarketing.
►CanDoGo Launches New Site with Free Advice!
CSO Life Cycle
Optimization 2008 Analysis is Worth Reading
and Heeding
As
you can imagine, I read a lot of the research on lead management and
optimization. I found this study, completed by CSO Insights, to be very insightful. Lisa Cramer of LeadLife Solutions one of our Advisory Board members, gave me a
copy and Jim Dickie* of CSO gave me permission to quote from it.
I was pleased to
read that 69% of the respondents are focusing on increasing new
acquisitions (great that they are thinking sales). 51% said they
have a lead management system, which is 30 points less than a recent
SLMA and LeadTrack study where respondents said that 80% had a system to
manage inquiries. Granted many people mistake having a CRM system
with managing leads and that is what shows up as a significant
difference between the two studies (SLMA study due out by Dec 1st).
When I see a
number that says 44% of the people that are not using a system are
using spreadsheets I want to scream. But I usually leave that up
to our EVP Mark Friedman who consults a lot on this subject of managing
leads. This means that too many companies are still using
spreadsheets for lead delivery and accountability. Those using a
spreadsheet are crippled and don't know it. They don't know what
they are missing in using a system (any system is better than a
spreadsheet) and they can't prove the ROI for marketing with any
ease and consistency.
When I saw the
chart showing how few inquiries are actually turned over to sales,
it made me hiccup, gasp, and sputter in frustration. But I will
let you read the details in the report. I suggest you get it, read
it and heed it. Take some action items from it to improve your
sales and marketing processes. There is a lot in this report.
Contents
- Executive Summary
- Selling
More Important than Awareness
- Web-based Marketing Becoming More Important
- Use of
Lead Management Systems Increases to 50%
- The
Other 50% Using Low-Tech or No-Tech
- No Clear
Consensus on When to Pass Leads on to Sales
- Lead Scoring
Gaining More Support
- Scoring is
Helping Turn Leads to Opportunities, to Sales
- Lead Nurturing
Strategies Leaving Holes
- Marketing
Measuring Success Based on Revenue
- Marketing ROIs
Coming in Many Flavors
- Marketing and
Sales Disagree on Source of Leads that Close
- Marketing
Rates their Performance Positively, Sales Doesn't Agree
- Going Forward
Recommendations
Go get a
copy. Thanks to Lisa at LeadLife, I have mine.
James W.
Obermayer
How Much is an Internet
Lead Worth?
In The Internet Age, Not All Leads Are Created Equal
By Lisa Cramer, President, LeadLife Solutions
Today, leads flow
to marketing from ever-increasing online sources—email campaigns,
the company website, Google AdWords and Google searches, Webinars,
online advertisements and blogs—as well as from traditional
marketing activities such as print ads, direct mail, trade shows and
networking. The sheer volume of leads, or "suspects," can be
overwhelming. How does marketing prioritize all these suspects and
determine which ones to:
- Send immediately
to sales
- Move to
telemarketing for qualification and appointment-setting
- Keep and nurture
with e-newsletters, drip marketing and other activities
One thing we do
know is that not all leads are created equal, making lead scoring
crucial for marketers so that we can determine the readiness of
prospects and prioritize them for appropriate action. Increasingly,
automation is key since spreadsheets and calculators simply will not
do the job given the volume of leads and their varying sources,
interactions and demographics. Marketers simply do not have time to
crunch numbers as well as craft innovative campaigns with compelling
messages and eye-catching images.
Read the rest of "How Much is an Internet
Lead Worth?"
Lisa Cramer is
president of LeadLife Solutions, a provider of on-demand marketing
automation software that generates, scores and nurtures leads for
B2B marketers. For more information, go to www.leadlife.com, or call 1-800-680-6292.
Referral Programs to Increase Leads:
How to maximize lead generation in a
slow economy.
By Chris Edwards
The
AdTrack Corporation
When the economy tightens, companies look for ways
to squeeze every drop of productivity out of every lead. Referral
programs are a way to turn one lead into several additional leads.
But how do you structure a referral program to ensure it produces
the leads you want?
Referral programs are based on the assumption that
"birds of a feather fly together." Your current lead or customer
will know others who share the same demographics or characteristics
of your target market.
Here is a list of tips and best practices to create
a motivating and lead generating referral program.
1. Address the WIIFM: WIIFM means
what's-in-it-for-me. Your original customer or lead may not be
motivated to make referrals unless they receive a reward for them.
However, make sure that the rewards you offer are tangible and
will motivate your target audience. If your target audience is
women age 25-44, it's unlikely they would be interested in a gift
card from an auto parts store.
Read the rest of "Referral Program to Increase Leads."
Chris Edwards is the Vice President of
Sales and Marketing at The AdTrack Corporation, a full
service lead management and literature fulfillment
company.
800.735.3237 * [email protected] * www.smartlead.com
Utilize "Nurture Marketing"
by Rick Bellefond president and founder of
RB Data Services
Any seasoned salesperson knows that anybody interested in their
products or services is worth cultivating. The problem is that they''re not all worth investing time in now. As a result, the
salesperson must devote his energy to those most likely to purchase
soon. But what happens to the other prospects in the meantime? Well,
if the salesperson has the time, they can continue to "nurture" the
prospect until they''re ready to act.
A common practice is to divide prospects into categories ? perhaps,
for example, by the expected time to purchase ? e.g. 30 days, 60
days, 90 days, six months, and longer than six months. Good
nurturing might ensure that each category of prospect gets "touched"
somehow on a regular basis with some type of useful trust-building
offer. For example, perhaps the six-month category will be offered
an informative white paper, the 90-day category gets offered a
customer case-study, the 60-day category gets offered a
demonstration, and the 30-day category gets offered a proposal. With
continuous nurturing, not only do prospects begin to qualify
themselves, but they also develop trust in your company!
This article was written by Rick Bellefond president and founder of
RB Data Services. RB Data Services has specialized in providing our
clients with a full range of CRM services since 1989. We help our
clients increase sales with the same or fewer people while improving
customer services. For more information or to get our FREE
"Secrets of Using CRM To Dramatically Increase Your Business"
eCourse, please contact us at 858-541-1820, email at [email protected] or by visiting http://www.rbdata.com
How Do Marketers
Screw-Up Outsourced Telemarketing
By
Michael A. Brown © 2008,
Michael A. Brow www.michaelabrown.net
A while back, DMNews International carried this extraordinary quote:
"Where you may want to use a service bureau is in the making of
programs. They already have a pool of talent and are a way you can
get good results. And you don't have to pollute (italics added) your
offices with a telemarketing department." Pollute! I can't recall a
stronger verb applied to a legitimate business practice.
The person quoted, a European publisher, has it all wrong of course.
The "making of programs" is up to the marketer, not the service
bureau. And the "pool of talent" too often isn't.
Nevertheless,
the misguided publisher does provoke an interesting question: what
other mistakes do marketers make when outsourcing telemarketing? In
my work with many companies that outsource telemarketing, and
several outsourcers themselves, I have identified six "killers" …
three each strategic and tactical.
Read the rest of "How Do Marketers Screw-Up Outsourced
Telemarketing."
Michael
A. Brown helps business marketers conduct profitable,
distinctive Business To Business By Phone® via consulting and training. Clients include a
"who's who" of successful business marketers, from
startups to the Fortune 100.
Contact Michael in Austin, Texas, 800 373-3966. www.michaelabrown.net.
E-mail is [email protected]
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James Obermayer
Executive Director