Getting leads to convert into customers is the ultimate goal for all companies. A good lead management process will help you identify the status of your incoming leads, to determine the volume of leads required for each period, how adequate the lead flow is to keep your sales reps busy, how much pipeline and revenue they are generating and the return on marketing investment.
Leads typically go through stages from being a subscriber to your content or participant in your event, to being a Marketing Qualified Lead (MQL) to a Sales Qualified Lead (SQL) and finally to a customer, and hopefully an advocate. Achieving effective leads conversion is complex as it usually requires cohesiveness and readiness across multiple functions.
Good sales process and salesmanship would include timeliness in responding to enquiries, relating to their business needs, ability to build rapport with the prospect and good sales closure skills
Content and Product Marketing Readiness
Availability of middle and bottom of funnel sales enablement tools such as customer success stories, video testimonies, competitive analysis, interactive product demos.
Lead conversion rates vary across different lead sources, identifying and maximizing the use of performing lead sources tremendously help the downstream process. Collecting and analysis of marketing data is imperative to continually assess the quality and buying intent of the leads from each lead source. Strong Marketing Qualified Leads are often easier to convert into sales opportunities and customers.
Account Management Readiness
Strong relationship with existing customers to have them advocate to prospects on your behalf and to be used as customer references through logo depiction or in sales pitch provides confidence and credibility about you as a seller.
Management Team Support
Approval of incentives, discounts, trials and service packages to sweeten the deal for closing.