As you create a lead management program you spend arduous time and investment creating and planning a complex strategy and plan. Then comes the hours of execution and implementation. Finally, you have your plan in place and it’s up and running. Leads now start to come to fruition.

Now What? According to a study done over a 3-year period by Lead Response Management Organization, the odds of contacting a lead and qualifying a lead drop 10-fold after the first hour. So, time is of the essence when responding to a lead. Having a “System” in place to notify your Sales Team of these leads and processes in place to respond to these leads can be the differentiator between a sale or nurtured prospect versus a missed opportunity.

What is the System? The System is a methodology for getting the inquiry to a responder. Remember timing is crucial. The responder should be committed to following up on each and every inquiry. It is important to monitor your lead generation volume. You may need to add responders as your volume of leads increases. Often, leads are territory specific and will need to be directed to the territory appropriate responder. Many times, these leads are going to a sales person that is in the field working their territory. They may be in a meeting or traveling when leads are sent out. Knowing that time is of the essence and your sales people are traveling, having an inside person qualify the lead prior to the lead going out to the field can greatly increase your success ratio.

What next? Track. Track. Track. The System should also offer management the ability to track the quality and status of the lead. Status examples: “Nothing”, “Prospect with a time forecast” or “Sold”. Lead quality examples: “Good”, “Fair” or “Poor”. That being said, the challenge of getting the lead feedback from the field can be a huge challenge. Having an inside person first qualify the leads can help to close this loop as they qualify each inquiry.

Why is lead feedback important? You did your job, right? It is about the ROI and getting the most bang for your buck. Almost everyone has a limited budget and it is imperative you know what is working and what is wasted spending. If you know what sources lead to the most sales you have a pretty decent idea of where to focus you budget. 

Happy Selling!