The Hidden Sales Leads Problems
Closing sales leads has always been the goal of any company but achieving this continuously on an upward movement seems to be an unwavering challenge for most. It’s time to dig deeper and discover hidden yet persistent sales leads problems that lies beneath even the best sales strategies.
A report published by State of Inbound finds that 71% of companies prioritise closing deals this year and that move necessitates allocations of millions of dollars solely for generating sales leads. Despite investing a lot of money in this industry, studies show that up to 70% of companies experience a significant investment loss due to carelessness such as failure to contact leads immediately. This is just one of the many overlooked flaws that contribute to the root cause of sales leads problems. Oftentimes, the basic elements in sales leads generation are the ones that are overlooked the most. Based on Wint and Kidd’s lead generation experience, these are the most common issues to look out for:
Quality Sales Leads
Having a good number of leads may always look good as it’s presumed that it will eventually convert to sales. But in reality, increasing your leads is just a portion of the process in lead generation. Quality of sales leads is the major concern of at least 58% of B2B marketers today. Due to its overall sales effects, marketers have become aware that it is more valuable to identify leads that will actually close deals. The type of leads that should be avoided are those that are unaware of what you offer, unsure of what services they really need, or those that are out of league in terms of price range. Fortunately, there are several ways to resolve this issue.
The first step in preventing low quality sales leads is to create a buyer persona or an ideal client profile for the service or product. This will serve as a guide of who and what you are looking for in a client, and how to pursue them. The more you get to know them, the greater the chances of closing these leads into sales.
Sales Leads from Online Traffic
Your online platforms such as websites, social media accounts, online ads and other online channels are helpful in attracting high-quality leads. While a company's online presence through these platforms is useful, simply putting up a website or a page is just a first step – the task shouldn’t end there if its aimed at generating leads. A website has the ability to put a business on the map only if the essential steps are executed properly. Thus, it is crucial to monitor its lead generating elements such website traffic and its characteristics. One way of undertaking this issue is starting with the basic statistics tools used to analyse a website’s efficiency. These tools are useful in determining if the online expenses incurred are not a waste effort, time, and money.
It’s also important to conceptualise, strategise and determine ways to use the most of various online platforms. Start by conducting a keyword research, use it in online contents to boost traffic and then turn it to sales lead opportunities. The next step is to utilise those keywords more by incorporating SEO practices. Its intended results include increase in search engines rankings which allows better online visibility for potential clients. Moreover, putting a call to action (CTA) statements and mechanisms to your postings or landing pages will also drive sales lead conversions. Reports show that 90% of website visitors are influenced by CTA copies and almost 42% of them can turn into high quality leads.
Misalignment in Sales and Marketing
Interchanging sales and marketing is a rampant misconception in SMEs, especially in small-scale businesses due to some similarities in activities. Although there is a huge difference between the roles of salespeople and marketers, some similarities cause confusion that hampers sales growth. One major difference in their dynamics is that all marketing concepts are intended to provide directions to sales activities. Hence today’s marketing monikers “growth hackers” and “growth strategists.” A marketing team’s most important role in a business is identifying the company’s target market which effectively defines the characteristics of its desired sales leads. Next to this is setting guidelines in finding, attracting, converting and retaining these leads. An effective marketing plan is usually geared at achieve overall sales goals provided that it is religiously followed by its sales team. In effect, any deviation from the marketing plan may ultimately result to poor sales leads and losses. Unfortunately, the lack of communication between sales and marketing team is mostly prevalent in startup companies that lack the experience and knowledge on the overall purpose of marketing in a business. In most cases, both departments are present in a company but end up voiding each other’s purpose.
To resolve such problem, development and implementation of service level agreement or SLA can sort things out. This can clarify roles, processes, accountability and most of all, identify sales lead targets, while defining the sales goals that both must focus on.
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