If Sales and Marketing were a manufacturing operation starting with raw materials — leads — and ending up with 5% to 20% in a deliverable product — won sales — it would soon be shut down to determine what is wrong.
However, companies continue to spend untold dollars on lead generation efforts ultimately doomed to fail.
Lack of lead management impacts lead conversion and ROI
I think the major cause for poor lead conversion and ROI is the lack of lead management, also known as passing unqualified leads, or marketing qualified leads (MQLs), directly to sales reps.
MarketingSherpa captured some of the key lead management issues in the B2B Marketing Benchmark Report. Of the 1,745 marketers surveyed, the research showed the following:
68% of study participants have not identified their Sales and Marketing Funnel
61% send all leads directly to Sales; however, only 27% of those leads will be qualified
79% have not established lead scoring
65% have not established lead nurturing
In my own experience working with companies, I’ve found the top issues include:
Marketing qualified leads (MQLs aka inquiries) have been sent to salespeople without qualifying them first or sending leads to Sales based on lead scoring alone.
A lead nurturing program has not been implemented.
Sales has not been given the means to hand leads back to marketing to re-engage for further work or nurturing on their behalf.
Lead management defined
Lead management is a multi-stage process that manages the conversion of sales leads to customers. It’s the process of managing and tracking customer interactions from the first contact to close.
Also, check out Lead Nurturing: 4 Steps to walking the buying path with your customers
The above illustration shows a map of lead management. You’ll notice the funnel is inverted because people are not falling into the funnel; they are falling out.
The idea is that the buyer’s pipeline requires a series of “micro-yes(s)” before getting to that “macro-yes” in the form of the final conversion-to-sale.
However, companies continue to spend untold dollars on lead generation efforts ultimately doomed to fail.
Lack of lead management impacts lead conversion and ROI
I think the major cause for poor lead conversion and ROI is the lack of lead management, also known as passing unqualified leads, or marketing qualified leads (MQLs), directly to sales reps.
MarketingSherpa captured some of the key lead management issues in the B2B Marketing Benchmark Report. Of the 1,745 marketers surveyed, the research showed the following:
68% of study participants have not identified their Sales and Marketing Funnel
61% send all leads directly to Sales; however, only 27% of those leads will be qualified
79% have not established lead scoring
65% have not established lead nurturing
In my own experience working with companies, I’ve found the top issues include:
Marketing qualified leads (MQLs aka inquiries) have been sent to salespeople without qualifying them first or sending leads to Sales based on lead scoring alone.
A lead nurturing program has not been implemented.
Sales has not been given the means to hand leads back to marketing to re-engage for further work or nurturing on their behalf.
Lead management defined
Lead management is a multi-stage process that manages the conversion of sales leads to customers. It’s the process of managing and tracking customer interactions from the first contact to close.
Also, check out Lead Nurturing: 4 Steps to walking the buying path with your customers
The above illustration shows a map of lead management. You’ll notice the funnel is inverted because people are not falling into the funnel; they are falling out.
The idea is that the buyer’s pipeline requires a series of “micro-yes(s)” before getting to that “macro-yes” in the form of the final conversion-to-sale.
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