Revising your lead management process is do-able without completely disrupting your current processes or changing the entire culture of the organization.
The most important tip is to start small. Mapping out a strategy is essential, understanding what makes sense for your company is key, but work to implement these changes in phases. We all must deal with the reality of existing resources and limitations. Starting with a few critical components, you can make great strides toward the ultimate objectives. Maybe start with one department at a time, implement some of the phases, test the effectiveness, iterate until you get to your desired results.
Before rolling this out, it is also important that everyone in your organization understands the justification for these changes. Here are 5 reasons to justify revising your lead management process.
1. The change in the buy cycle is the number one justification. If you aren’t selling based on where a buyer is in their cycle, you won’t sell them at all. And if you can’t identify and stay in touch with the buyer, who is only interacting with your company digitally, then you won’t sell them at all either.
2. The second most common justification is the dwindling marketing budget. Marketing has to justify their budget. The time when large budgets were available for everything from branding to advertisement is gone. Marketing budgets continue to be scrutinized and put under constant pressure. Marketers are struggling to apply their limited budgets effectively. To help accomplish this, marketers must be given the tools they need, and marketing automation provides for this support.
3. Lack of resources is the third most common justification. Companies should leverage the many service organizations and/or vendors that provide resource help for implementing such things as marketing automation.
4. The fourth justification is the need to measure ROI. Marketing managers and departments are becoming more responsible for not just generating a volume of “leads” for sales, but now are being measured for the quality of those leads. How much of their marketing budget has impacted revenue? Marketing automation systems help companies improve the quality of leads passed to sales and enable marketers to track this effectiveness.
5. The fifth is the cost of sales. Between the time sales spends trying to contact leads that aren’t “sales-ready” or leads that aren’t ready to buy, they are wasting a significant amount of time. This wasted time translates into significant costs and into potential lost revenue opportunity (sales not spending their time on real opportunities).
With the change in buying behavior, lack of marketing budget and resources, it’s hard not to understand how to justify your lead management process today.