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5 Ways to Maximize Lead Quality [GUEST POST]

5 Ways to Maximize Your Lead Quality

No matter your industry, you know that not all leads are created equal, which means generating leads isn’t enough; you need to generate quality leads so as not to waste time and money. How big a deal is lead quality? A 10% increase in lead quality can create a 40% jump in revenue, according to Marketo.

 

What is Lead Quality?

Lead quality is a measurement of how likely a given lead is to convert to a paying customer or how much revenue potential that a given lead could generate for your company. Since a lead is essentially just information you’ve attained on someone who is interested in your product or service, it makes sense from a business perspective to rank all those leads.

By measuring lead quality, sales teams can focus on specific leads instead of inefficiently allocating resources attempting to convert low-quality leads who have little interest in becoming paying customers, or who present little potential for revenue. According to Salesforce, companies that have a method for scoring leads have an ROI of 138% versus companies without any lead scoring criteria.

Related: Classification of Sales Leads: Hot, Warm or Cold

Each company takes its own approach to measuring lead quality. However, a common method is to assign a score to leads based on certain criteria, such as the B.A.N.T criteria (budget, authority, need, timetable). However, B.A.N.T is mostly used within B2B marketing, and even there, debate rages about the ongoing relevance it. B.A.N.T assumes telephone contact with leads, which is not a valid assumption in a marketing world dominated by online marketing.

Other possible lead scoring criteria include:

  • People who have downloaded lead magnets from your website
  • Leads who have browsed through product pages, checkout carts, or pricing pages
  • People who have emailed or phoned your sales teams to inquire about your products/services
  • The revenue potential of a given lead

Companies can segment their leads based on a set of lead scoring criteria by integrating marketing software with customer relationship management (CRM) systems.

Related: Not Just an Address Book: 4 Hacks to Turn a CRM into a True Sales Tool

It’s important to note that not all leads with high likelihoods of conversion are high-quality leads by default—leads might be very likely to convert but present poor earning potential. This is one of the biggest issues with the idea of lead quality—different people have different definitions of what exactly constitutes quality. It can be helpful, therefore, for marketing and sales personnel to work together to develop sensible lead scoring criteria that they agree on.

A high volume of bad leads is the fastest way to clog up your sales funnel. If you’re casting too wide of a net, it’s time to re-evaluate how and where you’re getting leads, what constitutes a good lead and why some leads go cold so fast. Here are a few tools to help you maximize and improve your lead quality.

 

#1 Define what a qualified lead is

#1 Define what a qualified lead is

Who determines what’s a good lead in your company? If you don’t know, or if you think it’s the wrong person, it might be time for everyone involved in the sales process to sit down to define a qualified lead for your business.

Is it simply someone who falls within your target market? Is it based on behavior when visiting your website? Maybe it’s someone that agrees to hear your pitch in person.

If your sales team is expected to follow up immediately on every nibble, you’re taking time away from the qualified leads so it’s important to define what a qualified lead is.

 

#2 Identify where leads come from

#2 Identify where leads come from

Where do you get your best leads from? Identify your lead sources so you can fine-tune your lead generation process.

Consider using a tool like Google Analytics or Oktopost to look at your metrics and determine where your quality leads come from and what campaigns, referrers, and channels are paying for themselves.

Knowing the information, you can devote more time to channels that are most effective and may even consider eliminating channels that aren’t filling your lead pipeline.

Related: The Five BEST Sources Of B2B Leads Prospects

 


Check out our latest Marketing Infographic

A Visual Guide to Telemarketing Performance Metrics [INFOGRAPHIC]

 

#3 Deploy data enrichment tools

#3 Deploy data enrichment tools

To connect with prospective customers, you need to a way to reach them. You can search LinkedIn, run Google searches, and scour social media channels for leads, but it takes a lot of time to find the right people, and then, find their contact information.

Related: Why Customer Profiling Could be the Best Investment your Company Makes

Ease some of this workload with data enrichment tools that can help you build a list of leads along with credible contact information. Here are a few tools to consider:

Lusha

Turn domain names into full company profiles and add contact information right into your Salesforce account to convert leads faster. Lusha can even automatically enrich all your contacts and update your contacts in spreadsheets.

InsideView

Increase your volume of clean, actionable leads thanks to the missing data that InsideView automatically adds to incoming leads as they’re inputted into your CRM and marketing automation systems.

Openprise

Streamline your sales funnel by connecting your third-party apps to pull together data, then create your own set of rules to clean the database with Openprise.

Related: The Essential Checklist to Finding a Decent Leads Database Provider

 

#4 Use lead generation tools

#4 Use lead generation tools

Rather than find leads yourself, have them come to you. How? Use a few lead generating tools, like these:

PromoSimple

Create custom sweepstakes, sign-up forms, and contests that can be added to Facebook pages and websites to generate leads, which are then integrated into an email service provider.

SocialCompass

Find quality leads on Twitter with this all-in-one app that combs tweets to find locals with purchase intent, allowing you to reply with an offer.

Related: Best Marketing Tools to INCREASE Sales Leads Production

 

#5 Prioritize your leads with management applications

#5 Prioritize your leads with management applications

As you generate leads, you’ll need a way to manage them. Try these tools that can help you prioritize leads and track important metrics like cost per lead:

Velocify

Help your sales reps determine who to call and when, thanks to this sales acceleration solution that sorts, prioritizes and re-ranks sales leads in real-time.

Really Simple Systems

Track cost per lead, per opportunity and per sale to calculate your ROI with this lead tracking app.

Related: 5 New Year’s Resolutions to Refine Your Marketing Analytics Stack

Wrap up

By identifying what a qualified lead is, making a list of your best lead channels, and integrating several tools, you’ll be able to reach more prospects than you thought possible. Lead generation is a time-consuming process, but if you’re taking a strategic approach you’ll likely see an impressive return on your investment.

 

Author’s Bio

Lisa Furgison

Lisa Furgison runs a content marketing company, McEwen’s Media, that helps clients sell products through data-driven marketing strategies.

 

 

 

 

Check out our recent Client Success Story

LED Lighting Firm Renews Callbox Campaign, Wins Sales Deal in 2 Months [CASE STUDY]

Read the latest updates on The Savvy Marketer’s Blog

Get Qualified Leads or Learn more about Callbox Multi-Channel Marketing Strategy

Contact us or Dial 888.810.7464

Add us on WhatsApp +65 8232 2417

 

 

Grab a copy of our FREE EBOOK, The Ultimate Lead Generation Kit Ebook! Updated with links to the best and latest techniques that will help generate quality sales leads for your business

The-Ultimate-Lead-Generation-Kit-to-Jumpstart-Your-Business-2018-Edition

Phone Sales Closing Techniques That Will Get You More Deals
Telemarketing Mistakes That Expert Salespeople Still Make

5 Ways to Maximize Lead Quality [GUEST POST]

5 Ways to Maximize Your Lead Quality

No matter your industry, you know that not all leads are created equal, which means generating leads isn’t enough; you need to generate quality leads so as not to waste time and money. How big a deal is lead quality? A 10% increase in lead quality can create a 40% jump in revenue, according to Marketo.

 

What is Lead Quality?

Lead quality is a measurement of how likely a given lead is to convert to a paying customer or how much revenue potential that a given lead could generate for your company. Since a lead is essentially just information you’ve attained on someone who is interested in your product or service, it makes sense from a business perspective to rank all those leads.

By measuring lead quality, sales teams can focus on specific leads instead of inefficiently allocating resources attempting to convert low-quality leads who have little interest in becoming paying customers, or who present little potential for revenue. According to Salesforce, companies that have a method for scoring leads have an ROI of 138% versus companies without any lead scoring criteria.

Related: Classification of Sales Leads: Hot, Warm or Cold

Each company takes its own approach to measuring lead quality. However, a common method is to assign a score to leads based on certain criteria, such as the B.A.N.T criteria (budget, authority, need, timetable). However, B.A.N.T is mostly used within B2B marketing, and even there, debate rages about the ongoing relevance it. B.A.N.T assumes telephone contact with leads, which is not a valid assumption in a marketing world dominated by online marketing.

Other possible lead scoring criteria include:

  • People who have downloaded lead magnets from your website
  • Leads who have browsed through product pages, checkout carts, or pricing pages
  • People who have emailed or phoned your sales teams to inquire about your products/services
  • The revenue potential of a given lead

Companies can segment their leads based on a set of lead scoring criteria by integrating marketing software with customer relationship management (CRM) systems.

Related: Not Just an Address Book: 4 Hacks to Turn a CRM into a True Sales Tool

It’s important to note that not all leads with high likelihoods of conversion are high-quality leads by default—leads might be very likely to convert but present poor earning potential. This is one of the biggest issues with the idea of lead quality—different people have different definitions of what exactly constitutes quality. It can be helpful, therefore, for marketing and sales personnel to work together to develop sensible lead scoring criteria that they agree on.

A high volume of bad leads is the fastest way to clog up your sales funnel. If you’re casting too wide of a net, it’s time to re-evaluate how and where you’re getting leads, what constitutes a good lead and why some leads go cold so fast. Here are a few tools to help you maximize and improve your lead quality.

 

#1 Define what a qualified lead is

#1 Define what a qualified lead is

Who determines what’s a good lead in your company? If you don’t know, or if you think it’s the wrong person, it might be time for everyone involved in the sales process to sit down to define a qualified lead for your business.

Is it simply someone who falls within your target market? Is it based on behavior when visiting your website? Maybe it’s someone that agrees to hear your pitch in person.

If your sales team is expected to follow up immediately on every nibble, you’re taking time away from the qualified leads so it’s important to define what a qualified lead is.

 

#2 Identify where leads come from

#2 Identify where leads come from

Where do you get your best leads from? Identify your lead sources so you can fine-tune your lead generation process.

Consider using a tool like Google Analytics or Oktopost to look at your metrics and determine where your quality leads come from and what campaigns, referrers, and channels are paying for themselves.

Knowing the information, you can devote more time to channels that are most effective and may even consider eliminating channels that aren’t filling your lead pipeline.

Related: The Five BEST Sources Of B2B Leads Prospects

 


Check out our latest Marketing Infographic

A Visual Guide to Telemarketing Performance Metrics [INFOGRAPHIC]

 

#3 Deploy data enrichment tools

#3 Deploy data enrichment tools

To connect with prospective customers, you need to a way to reach them. You can search LinkedIn, run Google searches, and scour social media channels for leads, but it takes a lot of time to find the right people, and then, find their contact information.

Related: Why Customer Profiling Could be the Best Investment your Company Makes

Ease some of this workload with data enrichment tools that can help you build a list of leads along with credible contact information. Here are a few tools to consider:

Lusha

Turn domain names into full company profiles and add contact information right into your Salesforce account to convert leads faster. Lusha can even automatically enrich all your contacts and update your contacts in spreadsheets.

InsideView

Increase your volume of clean, actionable leads thanks to the missing data that InsideView automatically adds to incoming leads as they’re inputted into your CRM and marketing automation systems.

Openprise

Streamline your sales funnel by connecting your third-party apps to pull together data, then create your own set of rules to clean the database with Openprise.

Related: The Essential Checklist to Finding a Decent Leads Database Provider

 

#4 Use lead generation tools

#4 Use lead generation tools

Rather than find leads yourself, have them come to you. How? Use a few lead generating tools, like these:

PromoSimple

Create custom sweepstakes, sign-up forms, and contests that can be added to Facebook pages and websites to generate leads, which are then integrated into an email service provider.

SocialCompass

Find quality leads on Twitter with this all-in-one app that combs tweets to find locals with purchase intent, allowing you to reply with an offer.

Related: Best Marketing Tools to INCREASE Sales Leads Production

 

#5 Prioritize your leads with management applications

#5 Prioritize your leads with management applications

As you generate leads, you’ll need a way to manage them. Try these tools that can help you prioritize leads and track important metrics like cost per lead:

Velocify

Help your sales reps determine who to call and when, thanks to this sales acceleration solution that sorts, prioritizes and re-ranks sales leads in real-time.

Really Simple Systems

Track cost per lead, per opportunity and per sale to calculate your ROI with this lead tracking app.

Related: 5 New Year’s Resolutions to Refine Your Marketing Analytics Stack

Wrap up

By identifying what a qualified lead is, making a list of your best lead channels, and integrating several tools, you’ll be able to reach more prospects than you thought possible. Lead generation is a time-consuming process, but if you’re taking a strategic approach you’ll likely see an impressive return on your investment.

 

Author’s Bio

Lisa Furgison

Lisa Furgison runs a content marketing company, McEwen’s Media, that helps clients sell products through data-driven marketing strategies.

 

 

 

 

Check out our recent Client Success Story

LED Lighting Firm Renews Callbox Campaign, Wins Sales Deal in 2 Months [CASE STUDY]

Read the latest updates on The Savvy Marketer’s Blog

Get Qualified Leads or Learn more about Callbox Multi-Channel Marketing Strategy

Contact us or Dial 888.810.7464

Add us on WhatsApp +65 8232 2417

 

 

Grab a copy of our FREE EBOOK, The Ultimate Lead Generation Kit Ebook! Updated with links to the best and latest techniques that will help generate quality sales leads for your business

The-Ultimate-Lead-Generation-Kit-to-Jumpstart-Your-Business-2018-Edition

Phone Sales Closing Techniques That Will Get You More Deals
Telemarketing Mistakes That Expert Salespeople Still Make

Using Neuroscience to Better Answer 5 Questions Leads Ask Themselves Before Buying

5 Questions Leads Ask Themselves Before Buying

Cognitive neuroscience, the study of the brain’s wirings and how these affect behavior, can help you make sense of the things your prospects do. What’s even more interesting is that many of this field’s recent findings shed some much-needed light on how and why your prospects reach a buying decision.

In this post, we’ll go over five key questions that B2B leads typically ask themselves in the decision stage of the buying cycle, and find out what neuroscience has to say about how you should be answering each of them.

To be clear, we’re focusing on the final step before leads turn into customers, so we won’t be talking about prospects’ questions in the awareness and consideration stages. That is, your prospect has already identified a need, has narrowed down her choices, and is now considering your company as a potential vendor. As such, it’s extremely important to get your message right in the decision-making phase since this is where all your marketing efforts become sales results.


#1: Will I really benefit from this, too?


 There’s ample evidence to suggest that emotions drive decisions more than reason does.Clinical studies have found that patients with impaired emotions tend to experience decision-making difficulties despite still having their reasoning abilities intact. This means that, at the point of making a decision, feelings take higher priority over hard facts and figures.

Accordingly, your messaging at this stage in the buyer’s journey has to appeal to your prospects’ emotions as well. You need to go beyond telling leads what to think; you help them find out for themselves that your solution feels right and that there’s something in it for them personally, too.

Related: How to Reach C-Level Decision Makers and Boost B2B Sales


#2: Can I trust this solution?


 Your prospects look to others they can relate to in order to help them determine what actions they should take. That’s why word-of-mouth recommendations from peers influence as much as 90% of B2B buying decisions.

Here, social proof comes in very handy. Social proof is the idea that people will do what others are doing if they believe those actions are the right things to do. Some examples of social proof in action are client recommendations, influencer testimonials, and user reviews. Here’s how to build tremendous credibility and make clients refer you.

It’s not enough to convince leads that your solution works; you have to tell a story that it has worked for someone else in a similar situation. Social proof is most effective when seamlessly weaved into a compelling story, which brings us to our next point.


#3: Can I work with this vendor?


 Convincing prospects your solution works is one thing; earning enough of their trust to turn into your business partner is another story. In fact, it’s going to take a pretty captivating story to convert your lead into your customer.

Telling your company’s or brand’s story helps build and cultivate your relationship with a prospect. Stories are an indirect way for your prospects to go through what your other customers have experienced. This is why brain scans show that a well-crafted narrative is more persuasive than a slide deck packed with stats and charts.

Related: Why work with a lead gen company when I have an in-house marketing person & my own CRM?


#4: Do I have enough information?


 Making decisions based on limited or partial information is the rule, not the exception, in most business situations. But there are ways to turn this potential obstacle into opportunities for helping leads reach a buying decision.

According to the information gap theory, curiosity arises when there’s a gap between what we know and what we want to know. That is, curiosity increases with uncertainty. At the buying stage, you have to frame your prospect’s belief that she probably doesn’t have sufficient information as motivation to find out more and engage with you further.


#5: Will I be able to justify this?


 In our first point above, we focused on the need to highlight what your prospects can potentially get out of making a buying decision. But when it comes to motivation, the need to avoid pain or loss is a more powerful force at driving our actions than the desire to gain. That is, people care more about losing a dollar than gaining a dollar.

To help your prospects justify choosing your solution, you also have to emphasize what they stand to lose by sticking with the status quo or selecting another option.

 

The Takeaway

The key idea to remember here is that, at the final step before leads convert into customers, you need to appeal both to the rational and emotional sides of your prospects’ brain. Of course, we’ve only outlined some pretty broad brush strokes here, and you still have to rely on how well you really know your prospects to come up with answers they’re really looking for. Just because an area in the brain lights up in FMRI scans doesn’t mean that’s exactly how your leads are going to behave.

 

 

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This ebook walks you through some key questions and tips to help you get started on using a predictive lead scoring system for ranking and classifying leads. Grab our kit NOW!

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Believe it or not! You can get More Leads without Generating Web Traffic

Believe it or not! You can get More Leads without Generating Web Traffic

In B2B marketing, perhaps no two words are as important as Traffic and Conversion. These two spell the difference between being in the black and being in the red. But you probably already know this by now: More web traffic does not always mean more leads. Traffic that does not convert is useless. That’s really unfortunate. Luckily, you can still increase your leads production without necessarily increasing your web traffic. Convenient, right?

Here are surefire ways to increase your conversion – meaning, turning traffic into leads – without actually increasing your web traffic.

Amplify your Unique Selling Point

I said amplify. Not just state or declare or put it there for all to see. Maximize and optimize it by making sure it grabs the viewers’ or readers’ attention the moment they see it, or at least, creates a strong connection with them. A convincing declaration of your unique selling point can build trust and keep prospects on the page longer than they originally intended.

Pro tip: Use “action” words, not just passive words. And yes, sell the solution to their problem, not your product. Don’t be too salesy like a snake oil salesman.

Related: Threesome Tactics To Generate Sales-Ready Leads Through Inbound Marketing

Simplify your Home Page

Really, just KISS it, or “Keep It Short and Simple”. Or “Keep it Simple, St****.” The simpler your homepage is, the easier for the viewers to navigate through it and find what they need and want. Just make sure it answers these questions:

#1: What does your product or service offer? 

Callbox - Best Sales Lead Generation Services

 

#2: How will your product or service solve my problem? Explain the benefits you provide, not the features.

HOW WE HELP BUSINESSES SUCCEED - Callbox

Don’t make the common mistake of talking about yourself at length. Harping about your accomplishments will bore, if not totally turn off your viewer.

Pro tip: Remember, the homepage is yours, but it’s about the customer or client or guest. If it’s about them, they’ll stay longer.

Related: Inbound and Outbound Strategies is a Match Made in Marketing Heaven

Make your Headlines & Contact Information Visible

It’s the goal of the webpage to at least generate inquiries. If your headlines can’t be seen, what do you think would make any visitor want to learn more from it? Make sure your headlines attract the visitors’ attention as soon as their eyes land on the page. And that “Contact Us” page? It’s not just for display. You really have to make an effort to make it as user-friendly as possible – make it visible and easy to read. No fancy fonts, please. If can make your contact number(s) so conspicuous the visitor doesn’t have to look for it, so much the better.

Pro tip: You have to make the visitors feel confident in you, in your product or service or whatever you’re selling.

Related: What to Tell Clients Who Say “You’re too expensive.”

Offer Incentives

What sounds better than freebies? Rewards! Incentives! Bonuses! Use the psychology of free stuff. I don’t know, but there’s something about those words that give them a really nice ring when spoken. Positive reinforcement almost always works, and it’s true especially in marketing. When you add something extra – like a reward or bonus – to your unique selling point, it’s easier to close the deal with the visitor. Offer a “money-back guarantee” or “free replacement” or “lifetime warranty” and chances are, you’ll clinch the sale.

While you have already effectively differentiated your product or service from the competition through your unique selling point, the incentive to bonus or reward adds value to the whole thing, and even builds a deeper client-business relationship.

Pro tip: Your message should be “You can’t get from others what I’m offering you.”

Related: How to Defend a Higher Price: 3 Steps


Grab a copy of our FREE EBOOK, The Ultimate Lead Generation Kit Ebook! Updated with links to the best and latest techniques that will help generate quality sales leads for your business.


Focus on Outbound

The previous four tips focus on optimizing the webpage. This last one is a no-brainer in terms of increasing leads without increasing web traffic volume. Why not try some of the most effective outbound marketing strategies?

Event marketing is a simple and easy way to interact with prospects and turn them into leads. Experiential event marketing is even better, as it goes beyond the mere physical presence of people at an event. Here are some unconventional event marketing campaigns, find out why they totally worked.

 

You can also try email marketing if you’re on a shoestring budget.

Watch our Email marketing video series now.

Email Marketing Series: How to Make Emails your Impossible to Ignore [Video]

And of course, there’s good old targeted telemarketing if you want fast results. Whatever medium you choose, the most important thing is choosing an efficient and effective third-party service provider.

Pro tip: Do not settle. When you’re outsourcing, you simply do not settle for mediocre results. 

Related: Is there such thing as a good B2B lead Generation Company?

Conclusion

One key takeaway here is, when you implement something new, make sure it’s measurable so you’ll know what works for you and what doesn’t. More importantly, don’t stop trying testing new things. Observe what your competitors are doing successfully that you may apply to your own. If you don’t think imitation is the highest form of flattery, then just make it your inspiration.

Case Study: Giant Software Solutions Provider Improves Lead Capture and Conversion with Callbox

 

 

Learn more lead generation lessons and tips at The Savvy Marketer’s Blog!

Love to know how we generate qualified leads?

Get in touch with our Marketing Consultant or Dial +1 888.810.7464  or 310.439.5814

The Ultimate Lead Generation Kit - FREE Ebook

 

 

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