Question

Topic: Strategy

Lead Status Metrics

Posted by Anonymous on 12/22/2008 at 1:43 PM ET 250 Points
I am attempting to sort our open and in progress leads in such a way that I will be able to quickly query leads that are further along in the process from those that are 'stone cold.' I would like to get away from traditional phrases such as 'hot' 'warm' or 'cold'. Keep in mind that I have 1000s of leads from various sources that are in various stages of communication (some have had 1 touch, while others have had up to 4). I am not able to query the number of touches per lead so that doesn't help.

Any thoughts on how I can organize my list? I am envisioning something similar to a sales pipeline in regards to the stages.

Thanks in advance for your thoughtful ideas.
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RESPONSES

  • Posted on 12/22/2008 at 1:59 PM Accepted
    Cpappas,

    Are you using a CRM to help you manage this process?
  • Posted by michael on 12/22/2008 at 2:06 PM Accepted
    We developed the Prospectrum(tm). E-mail me and I'll break it down for you.

    Michael
  • Posted by wnelson on 12/22/2008 at 2:37 PM Accepted
    Christina,

    You've kind of answered your own question. As you probably realize, ultimately, you will have to go through the list one by one and apply a metric to each one. The metric should reflect your sales process. Each company's sales process is a little different - there is no universal one. But, here's what mine looks like and you might be able to borrow the concept (the number reflects the "code"):

    1. Dead - no longer pursue!

    2. A lead from a list - has not been qualified

    3. Qualified lead, no contact made. This would include a referral

    4. Initial contact made (email, phone call, visit, introduction)

    5. Follow-up client - actions pending

    6. "Alumni" client - past paying, but not paying right now

    7. Current paying client


    This is pretty simplistic - there aren't so many "classes" of leads. However, the best sales process has few categories so simple is best.

    As others have said, a CRM system helps with this, as it helps to integrate the right actions and in many cases, automate them. Some CRM systems:

    Act II - simple, but not very "friendly" for automating sales campaigns.

    Salesforce.com - pretty robust. Not too pricey, depending on the number of users. Good automation capability

    Microsoft Dynamics CRM - fairly high end and pricey - but infinitely capable. High cost to match the capabilities.

    I hope this helps.

    Wayde
  • Posted on 12/22/2008 at 4:06 PM Member
    There are a lot of technologies that automatically grade leads based on predetermined metrics of responsiveness and demographic info.

    A quick search of "lead scoring" should turn up more than a handful.

    You can set up protocols to match the score with the proper response, e.g. a transition to sales, auto email reply, newsletter...

  • Posted on 12/22/2008 at 4:07 PM Member
    P.s. the salesforce Appexchange will have many that intergrate directly...
  • Posted by wnelson on 12/22/2008 at 5:12 PM Member
    Christina,

    Salesforce.doc (SFDC) allows you to create fields. Create your own sales pipeline metric per your defined pipeline process definitions. Then, have all sales people enter the information, including actions, pipeline status (which point the lead is at), next actions, etc. This will work MUCH better than just one person maintaining the entire database. You can actually make reports automatically from SFDC so each sales person can have his weekly/monthly report done automatically - some incentive to have them work with the tool. To get sales to use the tool, you have to create an environment where the sales folks see an advantage in using the tool and make it easier to use the tool than it is NOT to use it. Also, your pipeline should be logical and acceptable/identifiable for sales people. You may want to get their input. A CRM tool works best when everyone uses it. Also, the quantity of data you use should be minimal! Don't put a bit of data that you won't use!

    If you want to have a discussion, click on my id above and in my profile, you'll see my email address and website URL. Either email me directly or go to my website and you can find my phone. Feel free to give a call!

    Wayde
  • Posted by telemoxie on 12/23/2008 at 9:44 AM Accepted
    I don't believe you tell us enough so that we can give you detailed answers. For example, are you selling to consumers or to corporations or to the government? What is your selling price? How long is your sales cycle? What is your sales process? Are their key indicators in the process, such as the signing of a nondisclosure form or trial applications which can give clues to the qualifications of your prospect.

    I spent over 10 years of my life specializing in nurturing and cultivating a pipeline of prospects on the half of techno companies. From my perspective, this is not an easy or simple task. My personal opinion is that you need a high quality individual with sales experience to nurture or cultivate and qualify these opportunities, not a trainee with the script. Of course, your ability to afford such a resource depends on many things including your sales price and margins, and we don't have that information.

    I would encourage you to call Wayde, as he has responded to many questions on this topic. I would enjoy being a part of that conference call as well if the two of you feel that is appropriate.

    Good luck to you.
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