If your sales leads are not bringing revenues, time to change your strategies. Lead quality helps you to identify how likely your prospects become your customers. The higher the quality of your leads, the more likely they become your clients. To improve lead quality requires a commitment from your sales and marketing. They also must not disregard lead quantity as it works hand in hand with lead quality.
Exact measurements of lead quality will depend upon a few factors. It includes a lead generation strategy and how you sell your products or services. But there are a few methods to determine whether a prospect is suitable for your business.
Some of them are:
- Prospects generated from your marketing or sales funnel.
- Visitors contact your sales team to enquire.
- Browse through your website or online store.
If your team excels in quantity but lacks quality, it’s not the end of the world. Try these methods to improve the quality of your sales leads.
Fine-tune your lead scoring system
Dynamic scoring is critical to lead prioritisation. But lead profiles can become outdated as the industry or target audience changes. Hence, it is crucial to create scoring criteria that factor in these changes. Unfortunately, it also can be time-consuming.
Automated lead management can help you fine-tune your scoring practices. It will help you keep up with the changing face of your prospects. It also can help hot leads move to sales. At the same time, it allows lukewarm leads to move into lead-nurturing activities. These activities include white paper downloads, webinars or blog subscriptions.
Automation is also an excellent tool to build categories related to marketing. It helps create clear steps for inquiries, suspects, leads and sales-ready prospects.
Focus on lead nurturing
According to the Forrester Research study, focusing on lead nurturing do help companies. The study helps generate 50% more quality leads at a 33% lower cost per lead than others. Some leads start hot and turn into sales very quickly. But most prospects need extra lead nurturing before they can become sales-ready. To maintain prospects in the system, marketers need to create relationships with them.
If you have not started in lead nurturing, newsletters or email campaigns are an excellent way to go. These methods help you to maintain frequency with lukewarm leads. At the same time, you are offering them valuable information. Once you complete these strategies, you can start implementing other lead nurturing initiatives. It can include automated campaigns based on email clicks or website visits.
According to MarketingSherpa, many companies did not assess lead generation’s contribution to profits. The study mentioned about 56% of B2B companies disregard the exercise. But digital leads have measurable elements that can provide great insight to them. Ignoring that data leaves revenue on the table. Lead generation software can give you an overview of how each lead behaves in the sales funnel. It also helps how your marketing programs will affect lead generation.
Your marketing measurement should consider:
- How many leads in a given period?
- How those leads move through various stages before they are sales-ready.
- How fast different types of leads move up through the system.
- Which marketing programs will create new leads and at what conversion rates?
Measuring how your system responds will assist you in retaining more active leads. Marketing automation helps you improve sales alignment, increase sales effectiveness and grow revenue.
High-quality incentives = high-quality leads
Consumers are usually more willing to provide contact information for an incentive. Let me gives you an example. A car dealership website that offers valuable information for consumers will generate high-quality leads. Why? Because online car-buyers need this information as part of their pre-purchase research. Those who try to earn leads through offers like ‘Schedule your test drive’ will be less successful. Why? Because no helpful information is available for the consumers.”
Introduce a marketing-sales feedback loop
If the marketing team throws leads to sales and doesn’t find out what happens, stop that now. Communication between sales and marketing teams is crucial. Marketing teams can’t wait until a deal is complete to assess lead quality. It’s because the data will be too old to use to manage a real-time lead generation program. The marketing team can send more information to the sales team by reporting in a closed-loop. Then the sales team can provide feedback and sales activity reports to marketing.
In conclusion, quality leads are very important other than a high number of leads. Lead quality is more than fields of information in a CRM that means “good quality and less good quality.” Removing those fields are human beings. Applying a black and white method to making a human being more valuable to another is not easy.
Vimigo has the perfect digital tool that can increase the sales performance of your staff. Using the latest technology, we can transform your average workers into great ones. Check out our website to know more about us.