What is B2B Lead Management?
It’s the Part After “Tell Me More”
B2B Lead Management is a methodology that B2B organizations to encourage, develop and mature the relationship with a prospect through each stage of the sales process – starting with the “tell me more” initial response to “thank you very much, it’s great doing business with you” and on through to loyalty and referral. B2B lead generation only realizes its potential through this process.
Big or Little Piece of Pie?
When you drop a reasonably performing campaign you get responses. You’ll likey disqualify as much as 30% as a bad fit. 60% may be qualified but not ready now. Typically no more than 10% are ready to engage with sales now. Without solid lead management you live and die with the 10%… when you could have had another 60% in the pipeline.
What’s the problem?
Mainly it’s a lot of heavy lifting – most people don’t like heavy lifting:
- You’ve got to get sales and marketing together on a single definition of a qualified lead.
- Agree on how many of those leads the sales team needs to get to hit their numbers.
- Agree on what the buying process is and what kind of nurture can be delivered to get those leads ready for sales to close.
- Work out the scoring model knowing you won’t get it right the first, second or third time.
- Define the whole lead handling process
Survival of the Quota Attainers
It’s not just the access to those 60% not ready yet leads. The real issue is that research suggests that as much as 80% of leads given to sales by marketing will never be followed up with because sales is doubtful that they can turn the “junk” marketing gives them into revenue in time to achieve their quota.
B2B Marketing Automation – Efficient and Effective Delivery of “Junk”?
Some think marketing automation will fix this. In my experience all marketing automation will do here is speed up the production and volume of “junk” the sales team has to ignore from marketing… unless you do your lead management process correctly. Why bother with B2B marketing automation if you aren’t willing to do the heavy lifting of solid lead management?
Love Notes From Sales – Just Follow-Up Please…
A well thought out lead management process will flip things around so as much as 80% of the leads given to sales by marketing are followed-up with simply because sales knows that marketing’s leads turn into revenue.
What’s it take to get up to speed with lead management?
- Marketing and sales alignment
- Agreement on the definition of all the terms such as “sales qualified lead” and “ideal customer”
- Data that contains the ideal prospects
- Engaging and relevant content that both sales and marketing agree will support the target market’s buying process
- A defined lead management process
- Good reports
- Regular meetings between marketing and sales
- Executive sponsorship