Though too many leads certainly isn't a bad problem to have, it can be a problem nonetheless if a company's marketing efforts are being driven by lead volume rather than lead quality.
It would be great if every person that came through the funnel was an ideal candidate for the product or service you're offering; but, realistically, that's not the case.
Through lead management, B2B marketers can properly assess the lead gen process and maximize the outcome, giving Sales and managers the tools to get the volume under control and to focus on the quality.
Lead management provides the framework for tracking potential customers from the point the lead is generated to when it's converted to a win. A lead scoring system is used, allowing marketers to measure prospects' level of interest (based on the actions the leads have taken), and establishing a threshold for passing leads over to Sales.
Some 46% of marketers with mature lead management processes have sales team members who follow up on more than 75% of marketing-generated leads, Forrester Research shows. So why aren't more marketing and sales teams taking advantage of lead management? It is likely that many think that setting up an effective lead scoring system is too complicated. However, it can actually be fairly easy.
Before setting up lead scoring parameters, have a chat with the sales team and take a look at current customers to define the key characteristics of your valuable customers:
- Review recent wins.
- Discuss what makes a good lead.
After those basic questions have been answered, businesses can set up the scoring parameters so that each lead is filtered accordingly.
Successful lead management will grant you numerous advantages. This video from Salesfusion's Marketing Minutes Video Series provides an overview of what lead management is and also outlines how to determine a quality lead:
You may like these other MarketingProfs articles related to Sales:
- Resonate, Differentiate, and Substantiate: What Top Salespeople Do Differently
- How Sales Teams Can Improve Operations With Sales Intelligence Tools
- Has B2B Sales Gotten Easier or Harder Since 2020?
- Why It's Not Your Sales Team's Job to Nurture Leads
- How to Use Marketing Automation to Create Contextual Sales Conversations
- A Powerful Demand Generation Tactic: Lead Magnets and Customer Segmentation, Together