Research has shown that 80 percent of leads are ignored, lost, or discarded. Lost leads can be a result of poor handoff from marketing to sales, losing track of leads, lack of responsibility, or inconsistent follow-up. While many leads are lost due to the faults of the company, some will stall for unknown reasons and seem like they are forever lost.
However, sometimes they just need further contact and nurturing to bring them back to life. Companies that excel at lead nurturing generate 50 percent more sales-ready leads at 33 percent lower cost. If you are successful, not only do these leads become valuable and economical, but they also relieve pressure from generating more online leads.
If you don’t have the budget to hire a business-to-business lead generation marketing company—such as Sprint Marketing—and find that your business has lost online leads as a result of company errors or other reasons, here are some tips that can help you nurture future leads to where they need to be. These tips should also be used on progressive leads to prevent them from stalling.
1. Regular Evaluations
Leads can come from different places, such as emails or landing pages. You need to establish guidelines for what to do with each type of lead you get from marketing lead generation. Then, you should regularly evaluate all your leads. Label them according to their status, such as closed, pending, or stalled. Pending means that you are still actively engaged and they are viable prospects. Stalled means that they have gone completely silent and nothing is progressing.
Although stalled leads may seem like they are completely lost, they might still be actively deciding and need to be re-engaged before they make a definite decision. If you demonstrate continued interest in them, it is likely that they will respond and a relationship will begin to form. As a result, you should contact all stalled leads and communicate with them on a regular basis until the deal is closed.
With new leads, you should respond quickly before they lose interest. This should happen within 24 hours and usually include a phone call or an email. Most new leads are not ready to buy immediately, so you need to demonstrate that you are interested in them, are ready to help, and can meet their needs. Send them emails frequently with links to information that they would find helpful.
3. Company Communication
Your marketing and sales teams must make a commitment to work together. First, you need to agree upon the definition of a lead. Only 56 percent of B2B organizations verify valid business leads before they are passed to sales. Take into account the company type, budget, industry, buying timeframe, etc. Then, create a plan to manage leads and to track their outcome. Lead management needs to be a priority in your business so that you aren’t letting leads slip through the cracks due to poor communication. Assign someone the responsibility for lead analysis and management to help smooth the process.
You should be tracking leads throughout the marketing and sales process. You can either use a system that tracks leads or a spreadsheet. Enter each lead as a row and add columns to identify the source of a lead. Then you can track its status at any time and know who is responsible for it. Anyone who has contact with leads in the company or is involved with your lead generation strategies should be able to access and update the system. When a lead eventually converts into a sale, you can refer back to the system to see how it originated.
By following these steps, not only will your business lose fewer online leads while passing them off from one team to another, but you will be able to close more deals with leads that you once thought were lost. In the end, this will save you a large amount of time and energy and will greatly increase your revenue. Focusing on ways to increase online leads is great, but it won’t do much if you can’t find a way to track and nurture those leads.
Get Your Free Leads Analysis Today
If you need help developing an online leads strategy, Sprint Marketing can help. We will perform a free leads analysis to indicate areas where you can improve your leads strategy. Contact us today at sprintmarketing.com or by calling (801) 251-6855 for more information.