What is The Cost Of Bad Sales Leads
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The sales departments of IT companies are under enormous pressure to make their figures and this leads them to overlook any opportunity that is unlikely to be translated into a short term sale. However, many marketing departments do not supply qualified leads as raw material, but only inquiries. The difference is important: an inquiry is someone who seeks information about our company or products, but that is not a lead. A lead is only when it has been qualified.
Research has shown that as much as 5 to15% of the inquiries turn into real sales. Whenever your sales people receive inquiries instead of sales leads, they will be wasting their time and your company's valuable resources. In the meantime, your sales staff will grow distrustful of the so-called sales leads they are given.
The solution to the conundrum is to improve the management of sales leads. Research has shown that the more successful your company is to efficiently manage sales leads coming from marketing departments, the better it is at having the sales department close the deals. The important issue here is to qualify leads.
In whatever manner you choose to improve your sales leads, it is important to consider that the criteria needs to be agreed upon and accepted by all parties concerned. You must also include a definition of the product, the needs it satisfies, the customer who will buy it, the customer's buying process, the sellers and the sales process.
The criteria you will use to define what constitutes a good lead has great implication on which of those leads will be later monitored and be nurtured by the marketing department. They will be taken to be developed and turned into sales-ready leads.
Not defining clear criteria to determine what constitutes a good lead, will bring your sales and marketing departments to a permanent state of chaos and discomfort. On the one hand side your sellers will be upset that they are spending a lot of their valuable time into unfruitful leads. On the other hand, your money will be going to pointless monitoring and your company will never achieve its goals.
Article Source: Articlelogy.com
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