Any marketing manager will tell you how exciting it when they receive leads from any campaigns they do. This joy is usually short-lived because most of the leads end up turning cold, and very few of them turn into actual sales. This could be because some customers do not really understand what it is they looking for, or because the company is not able to respond to a need they have, and so they move on to other suppliers.
It is therefore important for a marketing manager to know how to identify quality leads. Remember, the main thing here is that quality trumps quantity any day. By identifying whether a potential client has the ability to convert into an actual client, or whether they have the ability to afford what you are offering is very important. How do you determine which leads to pursue?
Choose the leads to follow.
Base this on the customer profile you have. Every marketing manager should have a clearly thought out customer profile, highlighting key factors like age, location, income bracket, whether married or single, among other issues. If the lead you have does not fit at least 75% of your profile, then you may need to discard that lead. This is important because it will give the team a chance to pursue those that can potentially turn into clients.
Take care of your leads.
Once you have the leads, tailor your communication to them and constantly update them about what you have. Use online tools to get more information on your leads because it will help you get an insight into what to communicate with them on.
Track conversion rates.
This is a major key performance indicator for your team. If the leads do not turn into sales, then there’s actually no work going on. Work with the team to determine how you can turn the leads into sales, for example, some people could be asking for discounts, some people could be saying that the products are too expensive, some people could be asking about after-care support among other important issues. Collect all the relevant information and see how the company can work towards responding appropriately.
Inasmuch as online analytics can give you very good information about your potential clients, sometimes all you need to do is ask the client what it is exactly they want. It will surprise you how easy it is to get information if you ask the right questions. The customers know what they want, and the customers are willing to tell you what they want, if only you’re willing to ask and to listen.
Leads generation is a KPI for marketing and sales managers. Getting the leads is just the first step, what you do after you get the leads is what determines the success of whatever it is you’re doing. If the leads do not become hot, then what you’ll have is a database full of dead or cold leads that will have you rethinking your strategy and moving budgets towards running other campaigns.