Tips for Maximizing the Closing Rate of Your Sales Lead Database
In looking at your sales lead database, management of the sales pipeline, and the closing rate, there is a significant connection. Ultimately, the quality of sales leads is what determines the quality of your sales funnel. Therefore, if data gathered through extensive marketing efforts are not actually sales ready, your sales team is wasting valuable time and effort.
You also need to focus on the management of your sales pipeline. Even with an improved process, it will do nothing for unqualified leads. However, it will help identify them quicker. To improve lead performance, establish a firm process whereby prospects are taken and then followed through the entire funnel. At the same time, measure sales metrics.
To maximize the closing rate of your sales lead database, stop trying to close on sales that are based on poor data. Many marketing experts were taught that it is sales that owns the funnel process and that marketing must support the sales team with promotions, material for presentations, and leads. Unfortunately, this leads to a breakdown and finger pointing between the two teams.
Unless data are qualified, selling is a huge waste of time. To achieve success in closing the rate of your sales lead database, your sales and marketing teams have to work together. Once both teams understand and agree on the target, what the target wants, and what it is that the sales team needs in order to gather more viable leads, you will begin to see a dramatic change.
The traditional concept of a sales funnel is brutal in that once leads begin to make their way down the funnel, the number of leads quickly diminishes. With the tips provided, you can avoid pursuing weak activities for lead generation.
- A “sales-ready” lead must fit the definition of the ideal customer profile as well as the prospective client’s authority, need, budget, and timeline. As a result, your team will not waste time selling to leads that are incomplete, inaccurate, unqualified, or duplicated.
- Use the agreement between your sales and marketing teams to develop solid questions.
- Consider opportunities and actions that can be leveraged, including partner programs, strategic relationships, white papers, tradeshows, multichannel e-marketing, and seminars. Be sure the audience is targeted and that a variety of market segments are being tailored to help prospects solve issues.
- Establish a process and then follow it. The format should increase the speed of database distribution going to your sales team. One option that works incredibly well is automated lead management software.