VINCE KOSTELNIK
LUFTIG WARREN
How should leads be handled?
Before we answer that, we should ask, "Do you know how leads are classified when you receive them?" Marketing-generated leads fall into 3 different categories. Recent statistics tell us that:
- Only 12.5% of the leads on average are what could be considered "now buyers" or "ready to buy."
- An astounding 70% are what are considered to be "long term buyers". This means that for a variety of reasons, these people are not ready to buy right now. It could be budget related, timing related or simply that you have not shown them that you can solve their problem.
- Finally, about 17% are "disqualified', meaning that they are really not in the market for your products or services.
Do you have a plan that addresses the needs of "long-term buyers"? If not, you are not closing as many sales as you could.
Does Your Sales & Marketing Work Together --- Or Apart?
If apart, chances are the majority of your prospects are being ignored. Should they contact you when ready to buy, there is a slim chance they will buy from you. You are throwing opportunity away! Why?
The marketing department is evaluated and rewarded based on leads generated. The focus in marketing becomes quantity not quality. Sales people are evaluated and rewarded based on conversions (quality). As a result, they sift through leads looking for that 12.5% and ignoring the rest. 70% of legitimate prospects are ignored!
Educate The 70%
Even if sales and marketing work together in your company, do you have a system in place that actively and deliberately tells the 70% - "I want your business"?
Are you boosting your "credibility" and positioning your company as the "expert" in your industry to those who have showed interest? People buy from those they know, like and trust. By putting a program in place that builds "trust", you will substantially increase your chance of winning the business when the right time comes. But how do you do it?
The Educational Marketing Blueprint(TM)
By developing the proper criteria and systems, it is easy to identify the 70%. They are simply prospects (or repeat customers) who have said "not now" after you have offered them a quote or proposal for your products or services.
If you have implemented the "Marketing Formula" (refer to the newsletter "The Marketing Formula"), you already have obtained their contact information and you have a method to stay in touch with them. By segmenting your list through a CRM (Customer Relationship Management system) or some other type of manual or automated system, you know exactly who you need to communicate with. Now you can "educate" your prospects and customers as to why you are the obvious choice with which to do business.
The Result
By putting these systems in place, sales people become more efficient by focusing their energy on the true "now buyers". Marketing becomes more efficient because they have a system to nurture existing leads until they are ready to buy - from you!
Would you like to discuss how this can work for you?
Luftig Warren specializes in bringing it all together into a cohesive plan. To learn more, request your FREE copy of "15-Steps to Effective Marketing".
Or if you prefer, we would be happy to meet with you personally and discuss your marketing program. Contact us to schedule an appointment today.
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Vince Kostelnik is a senior marketing advisor for Luftig Warren, specializing in strategic marketing development.
Luftig Warren is a marketing advisory firm' specializing in business growth strategies and tactics. Luftig Warren applies a comprehensive understanding of marketing principles to solve clients' specific business challenges in three key areas: revenue growth, new client acquisition, and client retention.
For more information on implementing a full marketing system into your organization, contact us or visit us on the web at www.luftigwarren.com