LEAD MANAGEMENT : LEAD MANAGEMENT BY :- KARAN CHENGAPPA,INDIA
What Is Lead Management? : What Is Lead Management? One definition of lead management is:
Lead acquisition / data capture
Data cleansing and lead import
Lead distribution
Lead enrichment, scoring, and
prioritization
Lead qualification
and conversion / lead cultivation
Salesforce Lead Management : Salesforce Lead Management Track "lead source" and "lead type". This allows them to report on effectiveness by the channel and the offer.
Create detailed information to help sales
follow-up from the campaign.
Assign leads based on open capacity.(rewarding the most efficient reps with the most leads)
Adjust lead nurturing based on lead source(lead types show deeper engagement, and which are most likely to close)
Contd… : Contd… Define lead status values to your team.
Inquiries from current customers are still leads. Report on lead inactivity.
Is this how your distribution channel views your leads? : Is this how your distribution channel views your leads? Q: What’s the difference between most leads and a fortune cookie? A: The fortune cookie might come true!
Startling Facts About Leads : Startling Facts About Leads 87% are never effectively followed up on
76% of sales people view leads as “cold calls”
43% of prospective buyers receive information after they have made a buying decision
10% of exhibitors use any organized form of post-show measurement
Determining the REAL Cost of Poor Lead Management : Determining the REAL Cost of Poor Lead Management Cost Per Lead:
Total Show Spend/# Leads
Ex.75,000 / 150 Leads = 500 per lead
Lost Revenue Opportunity:
Average Sale Amount x # Lead Conversion %
Ex.25,000 x (150 leads x .25% = 38) =950,000
Brand Perception:
How does not following up impact your company’s brand perceptions in the market?
Time loss- since “ time is Money”.
The Exhibiting ROI Truth… : The Exhibiting ROI Truth… “If you are ever going to produce a financial ROI, it is hidden in your leads.”
Why is this happening? : Why is this happening? Marketing and Sales “disconnect”
Perceived quality of leads
Lack of exhibit staff training
86% of booth staff have never received one single hour of professional training on how to work an exhibit
Lack of “clarity” on what a lead really is
Lack of a “Closed-Loop” lead management system
The “Closed-Loop” Lead Management Process : The “Closed-Loop” Lead Management Process
Keys to a Closed Loop Lead Management Process : Keys to a Closed Loop Lead Management Process Capture the highest quality leads
Efficiently Route leads to the right people for fast follow-up
Provide an easy method for lead recipients to Report progress and sales conversion
Improving Lead CAPTURE Process : Improving Lead CAPTURE Process What Is and Isn’t a Lead
Personal Interaction
Qualifying Questions Asked
Answers Documented
Next Step Identified
& Agreed On by Visitor
2.Set a Realistic Lead Goal “Exhibit Activity Level” : 2.Set a Realistic Lead Goal “Exhibit Activity Level” # of exhibiting hours 25
# of booth staff x 4
total staff hours 100
interactions/hr/staffer x 4
total target interactions 400
% of visitors to lead .25
Lead goal 100
3.What Information does sales Want to Capture to Qualify Leads : 3.What Information does sales Want to Capture to Qualify Leads Project/Application/Need
Requirements or Specifications
Product Interest & Level
Buying Role
Budget
Timeframe
Decision Team
Other?
Slide 16 : 4.Develop Specific Priority Codes
5.Create an Effective Capture Device : 5.Create an Effective Capture Device Paper: Business cards, lead form
Electronic: Rent system,
Universal capture system
“lead from a referral program”
Considerations:
Attendee Interaction
Efficiency
Accuracy
Security
Cost
Contd… : Contd… Train Your Staff
Reason for the system
Accountability
Hands-on Role playing
Kick off with contests Assign a Lead Captain
Collection device
Monitor Goals vs Actual
Acknowledge & Corrections
Entry into CRM Routing
Improving Lead ROUTING Process : Improving Lead ROUTING Process Only Route Qualified Leads
Do it FAST
Include All Relevant Data
Use Your CRM system, a web
based system, or
email a spreadsheet
Improving Lead Reporting Process : Improving Lead Reporting Process End of Shift Lead Review
Close of Show Report
Number of leads captured versus goal
Cost Per lead
Number and % by priority code
Create Culture of Reporting
We captured the info you asked for
Communicate Cost Per Lead
Cc their Manager
Use Contest to Kick-off
Contd… : Contd… Make it Easy
Provide basic info
Ask for last contact date, next contact date, stage of sales cycle, projected dollar amount and probability of sale
Follow-up on target report dates
Notify the team of progress and results
Recognize and reward performers
Lead management at a glance : Lead management at a glance
Slide 23 : So……