Producing high quality leads for the sales team is proved to increase productivity. Lead prioritization saves time, as sales people will be apportioning more time on closing sales than on prolonged conversations on product endorsement and on guessing prospects’ thoughts. Having an effective lead management system is a must to improve lead quality.
Leads are prioritized through scoring, a system used to measure the probable value of a prospect based on the consumer’s profile, demographics, behavior, and other related information. Scores serve as the bases for prioritizing and qualifying leads for specific sales and marketing purposes.
Lead management techniques help organizations
- Spend more time generating high quality leads
- Prevent qualifying unresponsive contacts and leads opting out
- Boost the sales team’s confidence and effectiveness
- Contact hot leads before competitors do
- Increase leads-to-sales revenue
In short, producing qualified leads results in creating successful sales teams and faster revenue generation. Your sales team’s talents shouldn’t be focused on spending too much time on cold calling and other pre-selling activities. Rather, their effectiveness should be consumed on converting leads to sales.
A lot of business organizations are interested in technologies or solutions for predictive analysis. However, some systems may not be suited for one’s lead management system or sufficient enough. According to InsideSales, most of these applications create predictions but do not suggest measures that would guide organizations create appropriate solutions.
Important Statistics in Conversion Rate Optimization
- 79% of marketing leads never convert to sales (InsideSales)
- Only 22% of businesses are pleased with their conversion rates (E-consultancy 2016)
- For every $92 spent acquiring customers, only $1 is spent converting them. (Econsultancy, 2016)
- Generating traffic and leads is the most difficult marketing challenge (State of Inbound)
- 80% of marketers report their lead generation efforts are only slightly or somewhat effective. (BrightTALK, 2015)