5 Ways Lead Management Automation Reduces Your Sales Cycle
B2B sales teams look for ways to reduce the sales cycle with the goal of faster revenue generation (which, in turn, leads to higher annual payout). The challenge for many salespeople is to manage tasks in an efficient way so more time can be devoted to selling which should be expected to reduce time-to-close. Lead management automation provides the mechanism to shorten the sales cycle.
According to Gartner Research, B2B companies see a 10% or greater increase in revenue within 6-9 months of implementation of a lead management automation platform. Part of that increase is due to efficiencies that allow your salespeople to close deals faster.
Score Leads for Quality and Relevance
When sales agents are occupied with the most-suitable-and-potentially-interested prospects, the chances for conversion are greater. Through LMA, leads are automatically scored according characteristics that indicate suitability for your solutions and digital behavior that reveals how a buyer does research and how well-informed he is about your solutions.
A lead’s score will automatically update when new qualifying information is received or when a new online engagement has occurred. By automating lead management, your sales team can prioritize its focus on leads with the potential to close the earliest.
Distribute Leads Effectively
Do you want your fastest closer working on leads of the same quality as a new hire? Do you want your tech industry specialist getting leads from the manufacturing industry? NO! With LMA, leads can be distributed according to parameters you set. This way, once leads are properly qualified, they can be assigned ownership according to which agent can best convert the lead efficiently thus reducing the sales cycle.
Using an automated lead management platform, customized response and/or follow-up messaging is delivered according to a schedule that can be set once (theoretically). While a sales agent is busy with other tasks, an email can be sent immediately following a request from a lead. By eliminating delays associated with a busy sales team, the cycle can be reduced.
Better (and Faster) Intelligence Collection
An LMA collects, organizes, and segments digital lead activity faster and to a greater degree than your salespeople can do manually. As the article in the link above suggests, salespeople spend only 35% of their time actually selling. Often the non-selling time is consumed with business intelligence collection. With LMA, when a lead fills out a form or clicks on a certain link, your salesperson is provided with actionable intelligence immediately. Agents can use the intelligence to engage with prospects in a way that supports the digital path the prospect has taken when researching for a B2B solution.
More Efficient Lead Nurturing Across Media
LMA provides several channels of communication that can allow a lead to become familiar with your company and its solutions more quickly. As a lead moves through the marketing funnel, customized information flows that target specific needs can accelerate the lead advancement to a sales-ready status. Once the lead has become suitably educated and informed about your solutions, you sales agents can get involved and convert more quickly.