More Leads = More Sales?
Does Generating More Leads Help With Better Sales Revenue?
With the economy being so tough and buyers taking too long to make purchasing decisions, most businesses are becoming too concerned about selling products and services. And as per the generic approach, “More Leads = More Opportunities,” people are busy populating the pipelines with leads in the hope that some will turn into sales. But is it really worth it? Let’s see…
What is the Logic?
The logic says that if you are flooding sales representatives with more leads and, above all, they are of low quality, then situations may get worse. But in point of fact, companies are just wasting a whole lot of cash on marketing and high-volume lead generation practices. Moreover, the leads generated this way are of very poor quality and fail to offer ROI.
On the contrary, sales representatives working with fewer leads but of high-quality results in better output in terms of focusing on probable buyers. This not only increases efficiency and pulls in fewer resources but also funnels the best prospects for the company. But in most scenarios, businesses look for short-term leads in order to get immediate results, and sometimes, this result in a probability of losing a promising lead. So, when prospects tend to stretch the buying cycle and make purchasing decisions in a time-consuming fashion, developing long-term leads can prove very helpful.
How To Find Higher Value Prospects
Most of the companies segment leads according to verticals, annual revenue, employee headcount, and similar features, which can then be tested to have the highest responders. Further segmentation can be done for short-term and long-term prospects as soon as the contacts are introduced, and therefore, it is important to note that “I am not interested” means “I am not interested at this point in time, maybe later.”
Additionally, touching prospects repeatedly over time is very crucial. So, some mixture of media, voice mail messages, quality outbound calls, or maybe direct mails can facilitate in increasing the chances of reaching promising leads. Creating an impact on decision-makers can be done through multi-touch multimedia campaigns, as they build familiarity and target these decision-makers at times when they actually need solutions.
But with the changing business climate and difficulties getting even harder while hitting sales numbers, companies need to focus on their strategic practices because working smarter is the only key to success.
This is where CRM Applications help a lot. The right CRM, customized to your sales processes, will do a world of good in terms of filtering out noise and identifying high-value leads, and spending your time in an efficient manner, resulting in more closures, irrespective of how big or small your original lead count is.
Charu Mehta, CRMIT