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Do Not Hire Part 3 – Lead Management Best Practices
February 2, 2010
Part 1 of the Do Not Hire That Rep series suggested not automatically replacing a bottom performing sales rep when management decision or attrition takes them out of the organization. Part 2 said that instead, investing more in the remaining, successful sales team provides a greater likelihood of returns compared to the low odds most see with new sale hires right now. In Part 3, let’s explore the specific area of in-bound and out-bound lead generation as the approach to increasing sales effectiveness by better focusing on higher probability targets.
Generating leads and managing those leads through their lifecycle requires a disciplined approach to yield the greatest value. A combination of inbound and outbound elements allows your firm to be top of mind with both immediate and future prospects. This process allows your sales team to focus the bulk of their sales activity on those “qualified” prospects that have an identified need and are showing the right indications of making a buying decision in the near term. For those targeted prospects that are not yet qualified you need a process that allows you to “stay in touch” with them and to identify when they become sales ready.
We believe that the keystone of any lead generation process is the ability to manage, nurture and score all these leads (1) over time and (2) in an automated system. Fortunately, there are several strong software solutions which provide this dual functionality. The very compelling ROI from these products comes from better targeting of sales ready leads and the reduction of sales time your team will expend following non-qualified / non-sales ready leads.
Looking at outbound lead generation, both cold calling and email marketing are typical examples most companies deploy. Each has pros and cons but both require the need to deliver a clear message in order to capture the attention of the prospect and get them to take the action you want. The action may be a return phone call, signing up for a webinar, or responding to an email. Investing time on script and message development will significantly improve lead generation response. A word of caution, do not use either of these push methods to “sell” a prospect. What they can be when applied correctly are excellent ways to drive in-bound traffic to your website, create lead traction and begin moving leads into your sales process. For content that works well, consider providing unique insight or information, a tool or template or some other form of relevant content that will engage prospect and lead them to viewing you as a resource point.
Your outbound program should dovetail with your inbound lead generation program. Email marketing and webinar invites should attract traffic to your website. The use of social media products such as LinkedIn, Facebook, and Twitter, if aimed at the correct audience, can also generate traffic and help establish you or your firm as a credible, go-to source for information and insight. The key to effective social media participation is both the discipline to provide meaningful content and the time commitment to participate on a regular basis. It’s usually a good idea to separate your personal and professional social media participation; prospects aren’t really interested in seeing your vacation pictures or reliving your college memories with you.
Our next post will focus on the required features of the tools and solutions that automate the lead management and nurturing process.
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[...] that same hiring and employment cost into the remaining, successful sales team by implementing an in-bound and out-bound lead generation program. We also identify in the most recent post in the series the capabilities and features to look for [...]