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Best Practice Guide To Closing Leads March 2012

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This document provides guidance on developing an effective lead generation and closing strategy. It discusses analyzing lead audit results to identify viable leads, defining what constitutes a lead, and the importance of having a lead closing strategy to increase sales beyond the typical 10% close rate. It also covers types of leads, analyzing the buying cycle, why follow up is critical, and tips for email marketing, calling, time allocation, and properly moving leads through the closing process. The overall message is that a systematic strategy is needed to push more leads through the pipeline and close significantly more sales.

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Best Practice Guide to Closing Leads A guide to creating a top lead generation strategy to increase sales
Lead Audit Results Lead Audit Leads 50 Leads Closed 5 10% Not Interested in offer/Signed with Competitor 13 26% Interested, but never received follow up 8 16% Interested, but received sporadic follow up 19 38% Contact in 3 months 5 10% Total 50 Viable Leads 32 64%
Lead Definition
A merchant, who is in the market to buy a product or a service and is somewhere along the buying cycle and is willing to discuss with vendor(s). Blindbid
A Lead = Future Customer Brian Carroll Lead Generation Consultant and author of Lead Generation for the Complex Sale
Bad Lead VS Good Lead
Sales: Any lead that cant be sold is a bad lead.
Response: There are no bad leads, there are just impatient salespeople or sales organizations.
Types of Leads
Types Of Leads 1. Hot Lead Quick Close Immediate action. 3. Pending Close Leads Leads that tend to close within a month. 5. Short Term lead Leads that close within 3 to 6 months. 7. Long Term Leads Leads that close within six months to a year. 9. Dormant Leads Leads where the merchants have gone with a competitor or have said they are not interested. 11. Dead Leads leads where the merchant went out of business or requested not to be contacted any longer.
Buying Cycle & Leads
Everyone wants the 9-12 O'clock lead. Those are the ones that close the quickest with the least effort. These type of leads make up only a small fraction of the leads out there.
Why you need a lead closing strategy?
Without a lead closing strategy, youll only close 10% of the leads. You will be like95% of all the other sales organizations, chasing after the low hanging fruit.
A lead closing strategy moves the merchant along the business cycle to close. You can increase your sales by 200% or more.
Systemic Follow Up is Critical 99% of all sales people stop calling or sending information to a prospect after the 3rd unsuccessful attempt at getting the sales process started or moving forward. 75% of all first time appointments or events with prospective buyers happen after the 4th call, email or face to face contact.
Leadpipeline Part 1 Leads Per Lead Pile Up Month Closes Sales Leads Per month 30 Tip: The only way to avoid lead pile up is to use a CRM Agent 1 efficiently. Month 1 30 10% 3 Carry Over 0 Month 2 30 15% 5 Carry Over 0 Month 3 30 15% 5 Carry Over 0 Month 4 30 15% 5 Carry Over 0 Month 5 30 15% 5 Carry Over 0 Month 6 30 15% 5 Carry Over 0 Leads in Pipeline 0 26 Total Leads 180 14%
Lead Pipeline Part 2 Deals in Carryover Carryover Carryover Carryover Carryover Total Closed Lead Pile Up Leads Per Deal 1st Close Close Close Close Close Leads Month Closes Month Month 2 Month 3 Month 4 Month 5 Month 6 Leads Per month 30 12% 6.0% 3.00% 1.50% 1% 0.5% 4 2 1 0 0 0 7 Agent 1 Month 1 30 4 Carry Over 26 Month 2 56 5 Carry Over 51 Month 3 81 7 Carry Over 74 Month 4 104 10 Carry Over 94 Month 5 124 12 Carry Over 111 Month 6 141 15 Carry Over 126 Leads in Pipeline 126 Total Leads 180 54 30% Tip: The only way to avoid lead pile up is to use a CRM efficiently.
VS
came out with its Tablet PC in 2000 and sold a few hundred thousand in 12 years and has discontinued its models. came out with its Tablet PC in 2009, the Ipad, and has sold 55 million to date.
WHY?
had a 9 year headstart in the market and was not able to capitalize.
came up with the right technology and strategy to move the consumer along the buying cycle, because the need was always there. Apple met that need. DID NOT
Strategy doesnt matter?
Drip Marketing: Remain Relevant but not intrusive A marketing strategy comprised of sending a D Disciplined continuous series of well articulated marketing campaigns via phone, email, R Repeatable letters, newsletters, and press releases. I Interrelated P Process Drip Marketing by Glenn Fallavollita
10 Keys To A Successful Lead Generation Campaign
10 Keys to a successful lead generation campaign Sustain Calling - It may take 8 to 19 calls to reach a decision-maker. Make every call count by building relationship and credibility. Three types of contacts. Sales, Educational, informational. Be persistent it may take 15 to 30 contacts (phone, email, fax, letter etc.) to close a lead. Throw out the scripts. You want to position yourself as an expert in the industry and build trust. Always be relevant- Valid reason for calling and desire to help.
10 Keys to a successful lead generation campaign continued Gain Opt-in for email and even faxes. Always follow up. Keep follow up calls brief. A minute or less. Be prepared with a unique selling position. Make your offer stand out. Superior Value vs. Perceived value Update your CRM after every contact. Track your progress.
Lead Closing Tips: Email Topics Sales why the prospect needs to buy from you and why now. Add Urgency: Free offer or 50% offer until a specified date. Informational Your company newsletter. New product or service your company is offering now. Ask your prospect to like your facebook page. Educational Industry news. How new technology affects small merchants. How new legislation impacts your prospect. The Durbin Amendment. The Goal: All the emails should move the prospect towards the close by building the relationship through credibility and trust.
Lead Closing Tips: Email Frequency Neiman Marcus sent 500 emails to their customers last year. That is 1.37 emails per day. That is way too much. Do not over saturate your prospects. Be relevant but not intrusive.
Lead Closing Tips: Email Frequency 2 Emails Number 1st Month of Emails 1st Week 3 2nd Week 2 3rd Week 2 4th week 2 2nd Month 1st Month 2 1st Week 2 2nd Week 2 3rd Week 2 4th week 2 3rd Month 1st Month 1 1st Week 1 2nd Week 1 3rd Week 1 4th week 1 Total 24 4th -12th Month 2
Lead Closing Tips: Calling Tips Three Topic Rule: Sales: Im calling to follow up on the application I sent you yesterday and to answer any questions? Informational: I wanted to let you know about our facebook page? Can I send you a copy of our newsletter, it is full of great small business tips. Educational: Im just calling to let you know about how the new federal legislation will impact your business. As a courtesy, Id like to send you our whitepaper about it.
Lead Closing Tips: Calling Tips 2 Keep Follow Up calls brief. 1 minute or less. If the calls go on longer it should be because the prospect is continuing the discussion. Best Times to Call: 8-9 AM, 12PM 1PM, 4-6 PM during the prospects time zone. Not yours.
Time Allocation
Time Allocation Most sales organizations allocate 90% of their time on hot leads and 10% on everything else. More time should be allocated to other categories of leads to push them along the buying cycle. Remember that hot leads are only about 10% of your leads.
Proper Steps to Close
Proper Steps to Close 1. Persistence Drip Marketing 2. Organization 3. Using labor saving Technology CRM Email Robots
Perceived Value and Credibility You may have the best product in the world, but if no one believes it, you wont sell. The buyers view - Make him see what you see. Its a matter of perspective. Credibility is the way to gain buyers buy in. You establish credibility through trust and knowledge. Be an expert in your field.
QUESTIONS
Contact Information Blindbid.com 17690 Grama Ridge Rd Colorado Springs, CO 80908 562-546-3243 Fax: 888-792-9696 support@blindbid.com
Best Practice Guide to Closing Leads A guide to creating at top lead generation strategy to increase sales

More Related Content

Best Practice Guide To Closing Leads March 2012

  • 1. Best Practice Guide to Closing Leads A guide to creating a top lead generation strategy to increase sales
  • 2. Lead Audit Results Lead Audit Leads 50 Leads Closed 5 10% Not Interested in offer/Signed with Competitor 13 26% Interested, but never received follow up 8 16% Interested, but received sporadic follow up 19 38% Contact in 3 months 5 10% Total 50 Viable Leads 32 64%
  • 4. A merchant, who is in the market to buy a product or a service and is somewhere along the buying cycle and is willing to discuss with vendor(s). Blindbid
  • 5. A Lead = Future Customer Brian Carroll Lead Generation Consultant and author of Lead Generation for the Complex Sale
  • 6. Bad Lead VS Good Lead
  • 7. Sales: Any lead that cant be sold is a bad lead.
  • 8. Response: There are no bad leads, there are just impatient salespeople or sales organizations.
  • 10. Types Of Leads 1. Hot Lead Quick Close Immediate action. 3. Pending Close Leads Leads that tend to close within a month. 5. Short Term lead Leads that close within 3 to 6 months. 7. Long Term Leads Leads that close within six months to a year. 9. Dormant Leads Leads where the merchants have gone with a competitor or have said they are not interested. 11. Dead Leads leads where the merchant went out of business or requested not to be contacted any longer.
  • 11. Buying Cycle & Leads
  • 12. Everyone wants the 9-12 O'clock lead. Those are the ones that close the quickest with the least effort. These type of leads make up only a small fraction of the leads out there.
  • 13. Why you need a lead closing strategy?
  • 14. Without a lead closing strategy, youll only close 10% of the leads. You will be like95% of all the other sales organizations, chasing after the low hanging fruit.
  • 15. A lead closing strategy moves the merchant along the business cycle to close. You can increase your sales by 200% or more.
  • 16. Systemic Follow Up is Critical 99% of all sales people stop calling or sending information to a prospect after the 3rd unsuccessful attempt at getting the sales process started or moving forward. 75% of all first time appointments or events with prospective buyers happen after the 4th call, email or face to face contact.
  • 17. Leadpipeline Part 1 Leads Per Lead Pile Up Month Closes Sales Leads Per month 30 Tip: The only way to avoid lead pile up is to use a CRM Agent 1 efficiently. Month 1 30 10% 3 Carry Over 0 Month 2 30 15% 5 Carry Over 0 Month 3 30 15% 5 Carry Over 0 Month 4 30 15% 5 Carry Over 0 Month 5 30 15% 5 Carry Over 0 Month 6 30 15% 5 Carry Over 0 Leads in Pipeline 0 26 Total Leads 180 14%
  • 18. Lead Pipeline Part 2 Deals in Carryover Carryover Carryover Carryover Carryover Total Closed Lead Pile Up Leads Per Deal 1st Close Close Close Close Close Leads Month Closes Month Month 2 Month 3 Month 4 Month 5 Month 6 Leads Per month 30 12% 6.0% 3.00% 1.50% 1% 0.5% 4 2 1 0 0 0 7 Agent 1 Month 1 30 4 Carry Over 26 Month 2 56 5 Carry Over 51 Month 3 81 7 Carry Over 74 Month 4 104 10 Carry Over 94 Month 5 124 12 Carry Over 111 Month 6 141 15 Carry Over 126 Leads in Pipeline 126 Total Leads 180 54 30% Tip: The only way to avoid lead pile up is to use a CRM efficiently.
  • 19. VS
  • 20. came out with its Tablet PC in 2000 and sold a few hundred thousand in 12 years and has discontinued its models. came out with its Tablet PC in 2009, the Ipad, and has sold 55 million to date.
  • 21. WHY?
  • 22. had a 9 year headstart in the market and was not able to capitalize.
  • 23. came up with the right technology and strategy to move the consumer along the buying cycle, because the need was always there. Apple met that need. DID NOT
  • 25. Drip Marketing: Remain Relevant but not intrusive A marketing strategy comprised of sending a D Disciplined continuous series of well articulated marketing campaigns via phone, email, R Repeatable letters, newsletters, and press releases. I Interrelated P Process Drip Marketing by Glenn Fallavollita
  • 26. 10 Keys To A Successful Lead Generation Campaign
  • 27. 10 Keys to a successful lead generation campaign Sustain Calling - It may take 8 to 19 calls to reach a decision-maker. Make every call count by building relationship and credibility. Three types of contacts. Sales, Educational, informational. Be persistent it may take 15 to 30 contacts (phone, email, fax, letter etc.) to close a lead. Throw out the scripts. You want to position yourself as an expert in the industry and build trust. Always be relevant- Valid reason for calling and desire to help.
  • 28. 10 Keys to a successful lead generation campaign continued Gain Opt-in for email and even faxes. Always follow up. Keep follow up calls brief. A minute or less. Be prepared with a unique selling position. Make your offer stand out. Superior Value vs. Perceived value Update your CRM after every contact. Track your progress.
  • 29. Lead Closing Tips: Email Topics Sales why the prospect needs to buy from you and why now. Add Urgency: Free offer or 50% offer until a specified date. Informational Your company newsletter. New product or service your company is offering now. Ask your prospect to like your facebook page. Educational Industry news. How new technology affects small merchants. How new legislation impacts your prospect. The Durbin Amendment. The Goal: All the emails should move the prospect towards the close by building the relationship through credibility and trust.
  • 30. Lead Closing Tips: Email Frequency Neiman Marcus sent 500 emails to their customers last year. That is 1.37 emails per day. That is way too much. Do not over saturate your prospects. Be relevant but not intrusive.
  • 31. Lead Closing Tips: Email Frequency 2 Emails Number 1st Month of Emails 1st Week 3 2nd Week 2 3rd Week 2 4th week 2 2nd Month 1st Month 2 1st Week 2 2nd Week 2 3rd Week 2 4th week 2 3rd Month 1st Month 1 1st Week 1 2nd Week 1 3rd Week 1 4th week 1 Total 24 4th -12th Month 2
  • 32. Lead Closing Tips: Calling Tips Three Topic Rule: Sales: Im calling to follow up on the application I sent you yesterday and to answer any questions? Informational: I wanted to let you know about our facebook page? Can I send you a copy of our newsletter, it is full of great small business tips. Educational: Im just calling to let you know about how the new federal legislation will impact your business. As a courtesy, Id like to send you our whitepaper about it.
  • 33. Lead Closing Tips: Calling Tips 2 Keep Follow Up calls brief. 1 minute or less. If the calls go on longer it should be because the prospect is continuing the discussion. Best Times to Call: 8-9 AM, 12PM 1PM, 4-6 PM during the prospects time zone. Not yours.
  • 35. Time Allocation Most sales organizations allocate 90% of their time on hot leads and 10% on everything else. More time should be allocated to other categories of leads to push them along the buying cycle. Remember that hot leads are only about 10% of your leads.
  • 37. Proper Steps to Close 1. Persistence Drip Marketing 2. Organization 3. Using labor saving Technology CRM Email Robots
  • 38. Perceived Value and Credibility You may have the best product in the world, but if no one believes it, you wont sell. The buyers view - Make him see what you see. Its a matter of perspective. Credibility is the way to gain buyers buy in. You establish credibility through trust and knowledge. Be an expert in your field.
  • 40. Contact Information Blindbid.com 17690 Grama Ridge Rd Colorado Springs, CO 80908 562-546-3243 Fax: 888-792-9696 support@blindbid.com
  • 41. Best Practice Guide to Closing Leads A guide to creating at top lead generation strategy to increase sales