Lead management is probably the most crucial element in a company’s sales and marketing efforts. The bottom line for any business is profit; to make profit you have to generate revenue, and in order to generate revenue you have to make sales. In the end, leads are ultimately what get converted into sales. Because not all prospects are impulse buyers, leads have to be effectively managed/nurtured in order to be converted into sales. Here’s my personal check list for managing leads: Research, planning and strategy development Begin by learning about the prospect – do a background check on the company, visualize and understand the company’s pain points. You should never judge a book by its cover. In the first place, you need to have an idea about the company; have at least some knowledge about what the company does, its mission and vision because at the end of the day this company will want to be great at what it does, and if you can clearly identify how your products and services will help it achieve its vision, then you’re one step closer to closing a deal. You can paint a more meaningful picture for your prospect by obtaining basic information about the company such as: company size, number of employees, the products and service offerings, at times the typical sale size of the enterprise. You should also do an investigation about the company to find out if they are really doing well and if they have competitors and do they have challenges in terms of their services? Do they use the social media like Facebook, Twitter or Linked in? If they have, do they regularly publish information (new products, recent events, etc)? Having this type of information can add relevance when you to reach out to start a conversation, as it allows you to send relevant information their way. Talk to the right people! It isn't simply enough to look for the right company, but it is also important to look for the right person(s) in the company. Are you talking to a decision maker, an influencer or a person who has no reason to ever talk to you about your products and services? Take for example, an agro-based company that sells cutlasses to farmers; if you talk to the security personnel in the company about your products and services and how they can help promote the company to the next level, this will most likely result in no connections. Firstly, find out about the working staff and organizational hierarchy in the company -- the company’s website is usually a good place to start; you can find contact information on the company’s website, if they have one. Social media should also become your best ally. Do some digging around the people who have your company of interest listed as their employer. Look for information such as recent job changes, their job functions, and their educational backgrounds. What is their role? How long have they been in the current company? Someone who only recently started may not have enough knowledge about the company's needs or may have less influence in the decision-making process in the company. Build a persona in your head about who this person is, and think over how you would address him or her if you happen to meet them face to face. Make it appealing! You essentially have to find out what the company is doing to address the problems you identified in your initial research, and how your product or services offerings can fit into that. For example if you are looking to promote inbound marketing, you would ideally want to look learn how the company is currently trying to drive traffic to its website. Perhaps the company is using banner ads and paid search, which can be costly. This information can be included in the sales pitch. The information you reach out to them with can even transform you from a salesperson into a consultant. Instead of just talking to a prospect, you are starting a “problem-solving” process that you both have a chance in. Furthermore, the methodology for pre-qualifying prospects differs from salesperson to salesperson, but one important rule is never to rule out a prospect if you can come up with even one reason they might buy your products. As you research, hypothesize different scenarios that a prospect might be facing so you can be prepared to address it. Is there any reason why they would not buy your products or services? Is there any reason why they could not become a potential customer? There are cases where you just know when a prospect isn't workable. Other times, you can prioritize prospects based on the likelihood of converting them into customers. Assign them a high, medium, or low value and organize your time accordingly. Do your best on these strategies. It is better to call, visit, or send an email and have nothing come out of it than to lose an opportunity. Most times you simply cannot tell what’s going on in a prospect’s head, and the only way to find out is to approach them or call them on the phone and ask them. You have to treat prospects as though they are customers -- follow-up regularly! A good lead management strategy can save you time and energy and help you focus on the right prospects, with the right message tailored to suit them, at the right time. Using relevant information to create a unique experience for each prospect will yield a more fruitful start to the sales process.
