The ultimate goal of marketing is to gain new customers. You spend both money and resources to educate your prospects about why your products and services are the best out there. The problem is that most of the time, people seeing your ads or reading your whitepapers and press releases aren’t entirely ready to commit. They need guidance, encouragement. The application in your case study is really interesting, but they may not have that specific application right now.
It’s these situations that expose the weak link between marketing and sales; the gap that exists between broad marketing techniques and closing a sale. You’ve met your marketing communications goal by targeting the right audience and gaining interest, but you aren’t quite ready for the sales team to take over. You’re stuck in the “in-between” when there isn’t one specific person responsible for the next phase.
Often, leads are passed on to sales without a second thought about whether or not all critical data has been obtained. A sales person gets incomplete information or a contact that isn’t ready to move to the sales-side of the deal, so the sale doesn’t move forward. How can you turn an inquisitive reader into a real buyer?
Fortunately, when given some light, that “in-between” grey area of lead management can reveal tried-and-true steps to follow. Lead management can educate buyers, help you understand your customers’ needs and ultimately generate revenue when a comprehensive and effective strategy is used.
These simple steps can turn that weak link into one of your most effective strategies by coordinating efforts between the marketing and sales teams. One group or one individual just won’t have the time, or the knowledge, to take care of everything.
1. Capture.
Capture your leads. It sounds so obvious it’s often overlooked. If you’re paying for advertising positions, especially online, you should know who is seeing the ad, whitepaper, e-newsletter or other medium you’re using.
While it varies significantly from company to company, chances are the publications have most of the raw data you’re looking for. This can range from the number of impressions or click-throughs to geographic and demographic data or be as detailed as company name, position, contact name and contact information.
Ask for as much as you can get and follow up with the publication. In fact, ask these questions before you place the space—we do!
2. Score.
First, determine what criteria are necessary in a prospect before they should be given a sales pitch:
- Should they have certain decision-making responsibilities or work for a specific industry?
- How often do they look at your ads or website?
- Have they downloaded a certain number of whitepapers about your products or technology?
Once you know the base level for a qualified lead, you need to monitor your data to look for trends. Find the person, company or market niche that continually opens your email blasts or goes to your website after reading one of your articles in a publication. Update your information until the prospect has reached your base level.
3. Nurture.
Build a relationship with prospects that aren’t quite at the optimum level for a sale yet. Even if they aren’t ready to buy from you now, building a relationship will increase your chances of them seeking you out later.
Don’t just rehash your ads, but rather send personalized (and most importantly!) useful information. Showcase your expertise and the value you can bring to the table when a purchasing relationship unfolds.
4. Give.
Having the lead ready for a sales call doesn’t make marketing irrelevant. The sales team can use the same information you tracked to determine if the prospect was ready for a sales call to establish their own approach. You don’t want the sales person to call a contact about product X when you know they showed more interest in technology Y.
Be sure to ask the prospect about the marketing activities they responded to. If they were interested in the whitepaper on technology Y, most likely they will have questions based on the information that was presented in it.
5. Evaluate.
This step closes the loop and shows the true importance of sales and marketing working together. Just because a lead ended in a sale doesn’t mean the process couldn’t be improved.
Evaluate the progression of the lead through the end sale to see where you struggled. If a lead doesn’t end in a sale, send the prospect back to the nurturing stage to learn more.
Reevaluate your scoring criteria as well. If leads aren’t turning into sales as expected, maybe a different base level is needed.
Lead management doesn’t stop after these steps either. You should be learning as much about the success of your marketing techniques as you are about the people responding to your communications. An effective campaign will be evident, as will an ineffective one. Properly managing leads should turn them into sales, but should also give you an education about your tactics along the way.
Articles, Online Marketing Advertising, Branding, leads, Marketing, sales