According to a recent study by the Aberdeen Group, 84 % of all sales leads identified as "qualified" never close. The statistic is startling when you consider the amount of effort and resource required to build your sales pipeline. Possible reasons for this disconnect include:
- Marketing and Sales are out of alignment over the definition of a lead - Sales reps tend to focus exclusively on "sales ready" prospects - Organizations are unable to create and execute effective lead nurturing campaigns for longer term prospects
Companies with best practice lead nurturing programs convert more leads and drive more revenues than those who do not. They recognize tasking Sales Reps with lead generation responsibilities is a challenge because the Reps must balance business development with the management of active sales cycles.
What are some of the lead nurturing secrets of these best practice companies?
- They nurture their entire prospect database with varied content designed to generate interest regardless of where the prospect is in the sales cycle - They ensure all prospects are touched even when sales reps turn over or drop the ball on biz-dev/prospecting - They consistently execute a clearly defined strategy and process for lead nurturing
Your greatest risk isn't coming from your competition. It is in the inability to engage, nurture and follow up on the thousands of prospects unwilling to talk to one of your sales reps.
We will be exploring this topic in more detail in our next web event. I invite you to join us.