• Home
  • Blog
    • Business Partner Magazine Archive
  • Free Contests and Giveaways
  • Resources
  • About Us
    • Cookie Policy
    • Disclosure Policy
    • Privacy Policy
    • Terms of Website Use
  • Contacts

Business Partner Magazine

Tips and advice for entrepreneurs, start-ups and SMEs

  • Business Success
  • Marketing
  • Finance
  • Employees
  • Technology
  • Start-up
  • Productivity
  • Communication

6 Costly Lead Management Mistakes Derailing Your Sales Efforts

October 17, 2017 by Brooke Harper

Click here to get this post in PDF

Too long to read? Enter your email to download this post as a PDF. We will also send you our best business tips every 2 weeks in our newsletter. You can unsubscribe anytime.

Enter your NameEnter your Email Address

Lead Management Mistakes Derailing Your Sales EffortsHow the lead management process is handled influences how sales are made — or even if they are made.

An established process should not only increase the company’s bottom line but also produce the most appropriate solutions for a customer’s needs.

Without effective lead management processes and practices in place, a company’s ability to increase opportunities for both customers and sales is limited.

A sales team can’t simply sit back and wait for prospects to come to them. Their efforts need to focus on generating leads, qualifying leads, and nurturing them.

If leads are handled incorrectly and without an understanding of how the management process works, neither side will get what they want. The lead will most likely seek solutions elsewhere. The sales team will suffer from a lack of leads and low conversion rates.

That said, here are six costly lead management mistakes that can be easily avoided.

Not having a lead handling process in place

What happens when a lead comes in? What happens after the initial contact?

A lack of clarity in the lead management process gives rise to confusion and loses a potential customer in the shuffle.

What happens to a lead after initial contact and who handles the lead at different points in the process needs to be established and well-defined. Otherwise, no one will know when to funnel the contact to the proper person or department, and the lead will lose interest and seek solutions elsewhere.

Not prioritizing leads

The sales process can be long, but failing to prioritize leads can make it even longer and unfruitful.

Although the scenario is not common, some leads know exactly what they need and are ready to buy immediately.

More commonly, a lead requires more information on a product before deciding it’s the right solution.

A keen understanding of a lead’s needs and where they are in the sales process helps a business determine the most strategic way to deal with them. A lead needing more information should probably be funneled to marketing while more decisive ones can go to sales. Actively trying to sell when a lead is not ready is an inefficient use of time and resources.

Waiting too long to follow up on a lead

The chances of making contact with a lead and making the sale increase the sooner someone follows up.

A Harvard Business Review study has revealed that responding to leads within an hour generates seven times more conversions. The study audited 2,241 U.S. firms and found that leads lose interest when there is too much time between initial contacts and follow up.

Within five minutes of a prospect’s contact is the ideal time to make direct contact and have an impact. A computer telephony interaction–like a CTI integrating MS Dynamics and Avaya–allows a sales team to react to lead interest immediately by using a computer to track inquiries and make return calls in seconds.

Giving up too soon

According to Business Insider, a potential customer needs some form of contact at least seven times within a period of 18 months to make an impact.

Through time, a business can convert someone with just an interest into a lead and eventually a sale. It starts with advertising, then the marketing and sales process.

It would be great to close the sale on the first contact, but this scenario doesn’t often happen because many leads are not ready to buy immediately.

Does this mean forget about them? If they are qualified, they will mostly buy at some point. The customer needs to build trust with the business. By nurturing the leads through marketing and periodic contact, the trust will grow over time.

Not creating engaging content

Ours is the Internet Age. Many leads will reach a business via the internet.

Whether a potential customer heard of the business through word of mouth or a web search, they will perform some internet research to learn more about the company and their products.

Quality content — both online and offline — is needed to obtain and nurture leads. This content may consist of web pages, blog posts, eBooks, marketing material, and whitepapers, which speak to the problems potential customers may have. Good content is the difference between engaging a prospect and having them look elsewhere.

Not updating lead databases

Any information obtained on a lead will help in discerning their level of interest and make it easier to sell to them. With the utilization of CRM integration like an MS Dynamics – Avaya CTI integration in the lead management process, it is easy to track if, when, and how many times leads have been contacted. Knowing this vital information gives insight into the best way to address the lead’s needs. Developing a profile of the prospect includes content they have been exposed to or what part of the website prompted the lead to show interest in the company. Whether the lead is funneled to another person or department, the efforts to engage are better targeted.

Final thoughts

Leads are crucial to a business’s sales cycle. An efficient handle on lead management brings effective conversion of a prospect to first a lead and then to a customer. Avoiding the mistakes mentioned above will allow a sales team to acquire more qualified leads and create more effective sales opportunities. The result? The business will thrive.

You mat also like: Sales Prospecting Checklist

About the Author

Brooke Harper is a seasoned writer and sales consultant, and has written hundreds of articles and white papers covering all aspects of B2B sales, phone marketing, and advanced sales strategy. Brooke is one of the top writers on Quora in B2B and her answers get over 100K views a month, and growing.

Filed Under: Sales Tagged With: communication, conversion rates, CRM, customer experience, Management, sales

  • Facebook
  • Instagram
  • Pinterest
  • Twitter
  • YouTube

Disclosure

We earn commissions if you shop through the links on this page.

Recent Posts

  • Leveraging Microsoft Dynamics for Small Business Growth and Scalability
  • The Future of ERP Consultants for Small Businesses: Discussing Emerging Trends and Advancements
  • Thomas Peter Maletta Explores 9 Lead Generation Techniques to Help Grow Your Business
  • Tips for Working with Microsoft Dynamics CRM
  • Measuring the Success of Your Innovation Culture – Key Metrics to Track

Categories

Archives

Make Money Online – Free Course

  • Discover All The Shortcuts To Affiliate Marketing Success
  • Find Out How To Fill Your Site With New Leads And Customers
  • Discover How To Turn Your Passion Into Profits
  • Learn How To Write Copy That Gets Results Fast!
  • Discover How To Create Promote & Sell Your Own Products Online
  • Everything You Need To Know About Marketing Money Online
  • Strategies For Successful Web Entrepreneurs Inside
  • Discover How To Invest Smarter Grow Faster And Retire Rich
  • Email Marketing Strategies For Marketers And Entrepreneurs
  • Free training reveals how to build a successful six figure income online
  • Discover The Mindset Hacks You Need To Succeed
  • Free Marketing Memberships – Make Money Online

    Make money online free marketing memberships

    Tags

    Accounting apps bitcoin brand business growth business skills business success communication cryptocurrency Customer Service Data design Digital marketing ecommerce Efficiency employees Featured Article finance finances Health and Safety infographic insurance Investing investment legal legal tips Management Marketing marketing strategy Outsourcing productivity property Real estate sales security SEO Social Media software starting a business startup Technology Trading Training website workplace

    Disclosure

    We earn commissions if you shop through the links on this page.

    Digital Marketing Agency

    ReachMore Banner

    Business Partner Magazine

    Business Partner Magazine provides business tips for small business owners (SME). We are your business partner helping you on your road to business success.

    Have a look around the site to discover a wealth of business-focused content.

    Here’s to your business success!

    Copyright © 2023 - Business Partner Magazine·

    x
    x