In today’s market, it’s more important than ever to qualify new leads quickly, effectively and strategically. But how exactly is that done when the market is growing, new competitors are emerging and our to-do lists are never-ending?
Here at Lariat we’ve developed a proven process for converting marketing leads into “VIP” sales leads. Lariat LEADS helps you avoid five common mistakes we see even the most experienced sales teams making when handling new leads.
Here are five reasons your marketing leads are turning into deadends instead of VIP Sales Leads.
#1 - Does Your Website offer Clarity or Confusion?
Gone are the days where your website was simply a generic placeholder with pretty images and a vague “contact us” page.. The first step towards generating quality sales leads is creating a website that clearly communicates what you offer. This can be done with a detailed FAQ, compelling case studies, or detailed service descriptions. Before a potential lead fills out the inquiry form you want them to have a clear idea of what your team offers and what they don’t. This will help filter prospects and ensure that the right leads are entering the funnel from the beginning.
#2 - Timing Is Everything
How long should you wait before contacting a lead? Probably much faster than you think. According to a recent MIT study, a lead can die out 90 minutes after completing a lead form. They also found that you have the most success when contacting a lead as soon as 5 minutes after the inquiry hits your inbox. To make this happen, it’s crucial to use a lead management system that enables you to respond in real-time.
#3 - Not All Leads are Created Equal
One of the first steps of knowing how to qualify a lead is being able to quickly determine if a lead is a Marketing Qualified Lead (MQL) or a Sales Qualified Lead (SQL). A MQL can be defined as a lead that is in the early stages of the sales cycle. They are most likely gathering information and not ready to make a sale quite yet. We often see this type of lead entering through the manufacturer’s website. A SQL on the other hand shows direct interest in making a purchase in the near future. We often see this lead at the dealer level. This lead type requires immediate attention to capitalize on the potential sale. Once you determine the type of lead, the next step is having a plan to communicate to each based on their unique needs. We can help define what this process looks like for your sales team.
#4 - Your Process Needs Streamlining
After a new lead comes in there shouldn’t be any questions about who does what, when and how. Because time is precious, everyone on your team should have a clear and concise path to follow. By having a robust lead management platform like Lariat LEADS you can manage leads, accounts and opportunities with real-time reports and dashboards- even across large teams.
#5 - Getting Lost in Your Pipeline
Lastly, it’s important to have a system in place so the lead doesn’t get lost in the pipeline. You need to know exactly when the last point of contact occurred, by whom and what was discussed. Your leads are only as good as your pipeline management allows. Lariat LEADS allows you to automate the process so a qualified lead is distributed to the nearest dealer – making sure that leads are moving forward instead of getting left behind.