In today’s uncertain economy, every company has to recognize and actively pursue every possible lead that crosses their path. Every prospect that comes in contact with a company has the potential to be converted into a sale. The problem is many companies miss the connection or they don’t realize that the lead is part of their target market. In those cases, marketing automation and lead qualifying are essential for revenue generation.
These are the four most common reasons for missing valuable sales opportunities.
1. Not recognizing quality leads
If a company is not evaluating a potential lead’s online activity, then there is no way for them to know whether or not they would be interested in purchasing their product or services. It‘s impossible for one human being to monitor everyone’s activity. Marketing automation is necessary in modern business practices as it provides real-time B2B visitor lead tracking in addition to lead qualification. Every company needs a proven method for qualifying leads via lead scoring in order to establish which ones may benefit from a lead nurturing process or get passed directly to sales.
2. Not taking the time to understand your leads
Once you have qualified a lead the next step is to properly segment your database by analysing demographics and interests. First group them into categories and then rank them by their potential for conversion. A company can develop a specific approach for each segment. By not taking the time to break leads into predetermined groups, it will be impossible to connect with each one directly and therefore many will end up slipping through the cracks. Tip: use dynamic database segmentation techniques such as Lead Liaisons Dynamic Target Lists to segment contacts using a “set-it and forget-it” methodology.
3. Not nurturing leads effectively
A lead will be persuaded by compelling and informative literature. If the information a company sends is irrelevant or uninteresting it simply won’t be read. A potential customer can also be turned off if they are being bombarded with articles, newsletters or obvious attempts at self-marketing. There needs to be a reasonable flow that is not obtrusive or offensive in order to gain their trust and respect. In the early stages of lead nurturing, focus on educating the prospect. Think like the buyer, not the seller.
4. Not monitoring the lead nurturing process
It is essential for a business to analyze and evaluate which campaigns elicited an immediate response and which ones did not. There is no point in repeating a plan that does not have a solid conversion rate. The only effective way to plan future campaigns is by understanding which techniques created the greatest number of responses and how they can be adjusted to generate more revenue.
Missed sales opportunities are the greatest frustration facing companies today and it doesn’t need to be that way. Through well planned marketing automation and lead nurturing, a company can increase their chances of turning leads into revenue. The key to success comes from understanding why valuable opportunities are being overlooked and then learning how to prevent it from happening in the future.