Here’s a treat for you on Halloween—your dead leads may actually have a lot more life in them than you think. You don’t need a Dr. Frankenstein or a Zombie apocalypse to animate these cold leads, but you do need a basic lead management strategy.
By working with mid-sized to enterprise businesses in a variety of industries, Televerde has learned from experience that leads tend to pile up and grow cobwebs when sales and marketing teams don’t have agreed-upon methods of qualifying leads. Sales reps cherry-pick the leads they think they can close, and do limited follow up on the rest.
In cases like these, leads that become low-priority have to rattle the chains and creak the floorboards for attention. They can often scare people off, when in reality they can be a positive source of revenue. In our work with one client technology firm, for example, we were able to resurrect 850 “dead” leads, many of which were up to nine months old. We set up an outsourced team of Lead Development Representatives to follow up with low-priority leads and determine if they should be closed out, nurtured, or qualified to move to a sales agent.
Your dead leads could be worth millions.
After a 10-month pilot program, 11.2% of marketing qualified leads (MQL) were accepted by the sales reps. And 75% of sales accepted leads (SAL) became sales qualified leads (SQL). This focused everyone’s attention on the best leads and resulted in an additional $2.5 million in pipeline value.
Equally important, we helped this client develop and communicate a lead qualification process that put sales and marketing in better alignment. Through this process, sales and marketing agreed on when leads got handed off from marketing to sales. Marketing was able to do a better job at lead qualification and nurturing, and sales knew that the leads they were getting were more likely to convert into revenue.
Lead generation isn’t scary if you follow best practices.
Best-in-class lead development is what Televerde is all about. As you put together your lead management strategy, make sure you do the following:
- Maintain a clean, current contact database by reviewing it at regular intervals, at least annually
- Determine the data processes and workflows that work for your organization, including an understanding of where you get your best leads and the content and marketing technology that effectively nurtures them
- Align sales and marketing so everyone knows when leads are supposed to move along the MQL > SAL > SQL continuum.
There’s really no trick to getting more treats from leads that may be scaring you away because they’ve been dead for a while. Go after them and you could find millions of dollars of untapped revenue. To learn how Televerde can help you generate more revenue through a better approach to lead management, call us at 888-787-2829 or go to televerde.com.