Build a lead management system that runs on autopilot
Lead management can be very inefficient. Hit rates are just too low, while the number of people who ignore you or reject your pitch are too high. When faced with such odds, just maintaining one’s drive requires a great degree of resilience. Yet, there are still many people who do lead management manually. In fact, many companies are still completely reliant on this costly tactic for lead conversion.
Manual lead management is not cost effective.
Besides the damage to the morale of staff, there are also the financial costs of ineffective lead management. Eighty percent of leads answer only after five calls, and that’s only to make contact. No wonder you can keep one or more salespeople busy all day chasing up leads. Considering the infrequency of successful lead conversion and the effort required to close a deal this way, you have to ask yourself whether it makes sense to dedicate one or more salaries to such an activity. The answer is a resounding “No.”
Automation will improve results while saving time and money.
The sensible alternative is to put your lead management on autopilot, a solution that will save you time and money while ensuring a smooth landing for sales pitches. An automated lead management system sends perfectly-timed emails to leads just as they are ready to buy, ensuring a higher conversion rate and freeing up your people to do more productive things with their time. How do you perform such marketing voodoo? To implement such automation, you need four things:
a CRM system
a marketing automation system integrated into your CRM system
content - both email content and other, rich content that can be used to guide a lead to a sale.
a strategy - to determine what content to send to who and when. It also needs to identify qualified leads when they are ready to buy.
Content is the fuel that drives efficient lead conversion.
Chances are, you already have a CRM system as well as some content. In this case, you still need marketing automation, a bit more content, and some strategy. How important are these additions? Very. Content should be the fuel that drives your lead conversion strategy. PadiCode shows that businesses that blog 20 times a month receive five times more traffic and four times more leads than those that don’t.
An automated system will send the right content at the right time.
But the main purpose of blogs is to attract visitors to your site. How do you use content to convert leads into customers? By giving them content that explains how a certain product or service solves their problem. This content has to be sent to leads at just the right time - when they are considering their options - and that is where a marketing automation system comes in. You can’t employ someone to watch all your leads all the time, but a computer can.
Automated lead management needs a strategy.
Of course, a marketing automation system is only as effective as the strategy it is geared for.
You still need to identify the signs indicative of the different levels of interest shown by leads. Then you can setup your automation system to deliver the appropriate content at the appropriate time. When pulled together properly, these elements will greatly improve your conversion rate and your ROI.
If you are unsure of the value of an automation system, read Rise of the Robots by Martin Ford. This insightful read forecasts the widespread adoption of robots and sophisticated computers. It costs a lot less than a month’s salary and will do way more for your business.
To learn more about lead conversion download our Lead Conversion Handbook.
Author: Graeme Wilson