Lead management can be a daunting task, and what works for one company doesn’t always work for another. Your approach to lead management not only affects the marketing team, but also your sales team, your company’s revenue, and all of the leads in your database (if it didn’t sound daunting before, it probably does now, huh?). Because the efficiency of your lead process directly impacts the health of your sales funnel, it’s not something that you want to take lightly. You want sales to get the leads they want, but you also want marketing to get the recognition they deserve.
Unfortunately, when it comes to lead management, many marketers are putting themselves at a disadvantage because of a few, easily remediable mistakes. The good news? It’s not hard to set things right. So whether you’re just getting started with a lead management strategy, or have been perfecting one for a while, take a look at the list below to make sure you’re not making any of these lethal lead management mistakes.
Not Discriminating Between Leads
There are a few incorrect ways that you can approach lead qualification and assignment: passing along unqualified leads in an attempt to pass along more leads, or passing along leads who have either a good score or a good grade, but not both. When sales is receiving only unqualified and cold leads from marketing, alignment between the two teams can suffer, which not only impacts revenue, but also team morale.
The solution: Take advantage of the scoring and grading capabilities at your disposal to make sure that the leads getting passed from marketing to sales are A) interested in your company, and B) a good fit for your product or service.
Letting Leads Slip through the Cracks
It can be tempting to let leads disappear into your database if they’re not ready to talk to a sales rep. But overlooking these leads can increase the likelihood that they’ll be picked up by a competitor, resulting in lost revenue for your company.
The solution: Fortunately, putting a lead nurturing program in place can patch up the holes in your database where you’re losing leads to neglect. By “dripping” valuable content to these leads over time based on their interests and actions, you can keep your company top of mind. When leads are ready to move from one stage of the sales cycle to the next, sales won’t have to waste time educating them.
Not Tracking Prospect Activity
With no knowledge of what your prospects are doing on your site, or where they are in the sales cycle, it can be difficult to tailor your marketing messages and sales pitches to their needs.
The solution: With a system that can track and record prospect activity in real time, your sales team will always be privy to the most relevant and actionable information. They can use this information to strike while the iron is hot, instead of wasting time following up on cold leads.
Failing to Follow Up
When follow-up isn’t automated, it can be easy to forget. While your sales and marketing teams may recognize the importance of a prompt follow-up when trying to close deals, they’re often too busy to make it a priority.
The solution: Instead of wasting time covering their tracks and rebuilding relationships, they could be automating and personalizing appropriate follow-ups for specific situations. This ensures that sales reps get regular touch points with each of their prospects, reducing time spent on manual tasks and freeing them up to focus on closing deals.
Want more information on lead management? See how you can keep your pipeline functioning at maximum speed by downloading our free “Accelerating Your Pipeline” white paper.