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Start with a Lead Eight Critical Success Factors for Lead Generation by Mind Map: Start with a Lead
Eight Critical Success Factors for Lead Generation
4.7 stars - 17 reviews range from 0 to 5

Start with a Lead Eight Critical Success Factors for Lead Generation

From the book by Brian Carroll

Conversation, Not Campaign

Not about instant gratification

Consistency

Time

Companies don't buy; people do

position the lead generation effort as conversation to, identify, initiate, nurture

Executives favor the sales person who

has been a resource

has developed an ongoing relationship with them

Sales force needs to

understand customer's business

and feel their needs

while being sensitive to the pressure that they may or may not be under

Those who meet the criteria

become trusted advisors, and trusted advisors get the sale

Relationship building

sustaining the relevancy of an ingoing dialogue

When customers have a problem, you want them to come to YOU first for a soultion, people turn to their trusted advisor

The customer is thinking

How you sell me

is

How you will serve me

Sales and Marketing as a Team

The best

mindset

strategy

tactics

are useless unless everyone is involved

If Sales and Marketing are not in alighnment

will not empower a successful complex sale

or a sales lead strategy

Without bidirectional communication

lead generation suffers

lack of closed loop feedback process

repetition of poor results

WIth a feedback loop in place

each department has a better sense of what the other needs

Incorporating different viewpoints and inputs is critical

Sales and Marketing harmony begins with

proper direction and management from C level executives

A CEO who believes in, complex sales, lead generation, ...and all the complexities that go with it

Sales and marketing should have a unified understanding and consensus on what the definition of a sales lead is.

An Ideal Customer Profile

Using the unique attributes of prime customers

prescreen potential opportunities

helps to identify, decision makers, key influencers, the basis of a sales ready lead

Allows sales to focus on prospective companies with the highest probability of becoming profitable customers

provides a framework with which to pursue a potential customer

...and when to pass, should it become clear that the opportunity isn't as good as first inferred

Important! What is a Sales Ready lead?

create the ideal customer profile, the main focus and template by which all prospects will be measured, energy, time, budget, surveying

Learn the size and scope of the market and find the location of the sweet spot.

Target, Best potential, companies, contacts

Compare the results with your best and worst customers, Commonality?, Rank by, most profitable, best revenue, easiest to do business with, Add, current revenue, profitability data, Those at the top will help you create your Ideal Customer Profile

A more detailed profile will include:

Annual revenue

Standard Industrial Code (SIC) and North American Industry Classification (NAICS)

Number of employees

Level of contact and functional area

Local, regional or national scope

Business situation

Psychographics aspects

Psychographics may include

Corporate values

Culture

Philosophy

leadership

internal/external factors

If data is not available

competitors

trade associations

A Universal Lead Definition

Designed to fit the Ideal Customer to a T

Prioritizes and defines the degree of sales readiness, Responsibilities, Accountabilities

Sales fails to act on nearly 80% of leads

largely because leads aren't, qualified, appropriate buyers haven't been, identified, targeted

Begins with seeking out what

Sales

Marketing

consider an ideal sales opportunity, What makes a good lead?, What initiative or need makes this a good fit?, what info is needed to determine if a follow through is needed?, Who are the decision makers and influencers, What does the company value?, What is it's culture?, Are there common business issues?

Lead qualification begins with

Rating and Scoring of all inquiries

Lead qualification process ensures, Sales receives only truly sales ready leads

More ROI is reaped from the patient tending of potential customers over time.

Must be able to differentiate

near term

mid term

long term

leads by establishing a timeframe from, Evaluate, to, Implement

Functions or buy points need to be targeted for key information

How is interest created and driven?, drives the solution and narrows down which event occurred that drove the enquiry

Who is involved as the buying process evolves?

Who or what drives the initiative?

What is the best entry point?

An Effective Lead Management Process

Watching and directing the conversion of sales leads into customers

Funnels

Marketing and Sales functions

The success of the marketing funnel directly impacts, the sales funnel

Implements and enforces

Standard, universal lead scoring definitions

establishes a clear process for handling and distributing inquires and leads

Is geared towards

identifying the best opportunities, based on a consistent sales strategy

Assigns clear responsibility for

lead tracking

closed loop feedback

Meaures

Sales performance

Sales lead acceptance

degree of follow up by the sales team

revenue contribution to ultimately drive better return on marketing investment

Facilitates

Mechanisms and incentives for sales team feedback

Failures occur when:

lead generation is viewed as a series of campaigns, lack of substantive integration, indiscriminately seeking more leads, regardless of quality, Without managing existing leads

Lack of, Multimodal tactics, Sales closed leep feedback incentives, A effectively or well maintained database, Conformance with lead generation program

80% of sales leads are never seen again

Tracking leads must be ready to go when the program starts

A company is a collection of processes

Process mapping, create common vision and shared language

A basic sales process

FYI, Review requires special attention

Appointment, Lead qualified by marketing and sent to sales to be qualified

Qualifying, Sales person is determining if lead is actually a viable prospect

Prospect, Sales person actively pursuing

Profiled, Completed written proposal profile and opportunity assessment

Preproposal, Confirming initial plan prior to formal proposal

Proposed, Final proposal delivered

Committed, Agreement delivered and verbal yes to proposal

Active Contract, Agreement approved and signed

Nurturing, Was prospect and dropped out of the sales pipeline

Follow-up, Sent back to marketing for requalification, rescheduling, or lead nurturing

Rejected, This clearly wasn't a lead - returned to marketing

Not a fit, Lead advanced beyond step 3 in sales process - sales person decided not a fit

A Foundational Database

Your most valuable asset

clean

updated

a meeting point for Sales, Marketing, and IT

As many are involved in a complex sale

the database is a central location for all prospect information, collection, consoludation, uniform format

Ideal Customer Profile and Universal Lead Definition should drive the database

Control of the lead passes from one person to the next with all of the applicable information fixed in one place

The value of the database is only as good as the buy in of everyone on the lead generation team.

Key data points to capture:

Ideal Customer Profile

Universal Lead definition

industry identification and description

annual revenue

employment size

geographic information

budget

decision timeframe

Tracking fields to capture:

status codes

assignments

activity dates

lead source

forecasting tools

Integrated Multimodal Tactics

leveraging a variety of marketing tactics

An informed strategy is required to reach decision makers

mulitmodal lead generation

raises response rate potential

enhances audience awareness as well

The most effective tactics?

"all of them"

What tactics are you using to good advantage?

What tactics are your competitors using?

multimodal approach calls for a thorough evaluation and systematic plan- ning of the various lead generation methods

A multi-modal and multi-touch lead generation portfolio will always outperform marketing tactics that stand alone.

Success

Analyze

Measure

Optimize

A close correlation between

Tactics

Budget spending

when the two converge = optimal ROI

Consistent Lead Nurturing

The secret of success

converts inquiries into qualified leads

starts the qualified leads on a trajectory to capture sales

follows up and turns qualified leads into future sales opportunities by

consistent and meaningful dialogue, regardless of timing to buy

is not a single marketing campaign

a series of steps and communication

is a relationship development process

Lead generation is a conversation, not a series of disjointed campaigns

Lead generation initiates and perpetuates the dialogue

Lead nurturing keeps the conversation going and

building solid relationships

creates interes in products and/or services

A sales ready stat of leads is the result of good lead nurturing

ultimately brings in, better qualified leads, higher close ratios, strong sales pipelines, shorter sales cycles

A sustainable lead nurturing process is

proactive

intentional

actionable

Is designed to move prospects from

Awareness, to, interest, to, trial, to, action

Lead Nurturing questions to be answered:

Whom do I want to nurture?

What problems does the prospect face?

What is the prospect’s top priority?

What does the prospect worry about?

What is my messaging?

What is the best way to deliver my messaging?

What action should the prospect take?

Should my product or service be demonstrated?

What are the incentives or inducements?

How often should I stay in contact?

Which tools require direct sales involvement?

A crucial aspect of lead nurturing

ability to provide, valuable education and information to prospects

Educating prospects about how your business can fulfill their needs, you earn the position of expert and trusted advisor

Relevancy is key

The end goal:

“You and I have been talking for quite awhile. You understand me, my company and my industry. You have given me useful and pertinent ideas on this issue. You have helped me sell the idea to my colleagues and they understand and accept it. I realize this is going to be a challenging project, but I think you can do it. Let’s get it going.”