Sales and marketing go hand in hand, like Brian and Stewie from Family Guy. It logically follows that both teams should work leads together for a powerful 1, 2 combo.
But everyone is busy, so rocks are left unturned. Sales is concerned with meeting quota by the end of the month. Marketing is trying to generate content to engage prospects. Building the right communication lines is essential to successfully handing off lead responsibility.
Transfer Leads Efficiently
It turns out that there is a significant impact on your funnel from inefficient lead transfer. Waiting more than just 60 minutes to follow up with a marketing conversion decreases your odds of making contact by more than 10 times, and qualifying a lead by 6 times.
Far too many leads are left waiting way beyond that 60 minute time frame, essentially being tossed into the sales machine, but never touched by reps. It’s a shame. These are wasted opportunities.
Actionable Step: Take an inventory of your leads in Salesforce.com that do not have sales activities logged in their profile. If you have leads that fit this profile, engage them immediately. Feel out their pain points and qualify them.
Reengage Lost Leads
But what happens when leads slowly age over time, forgotten by both marketing and sales? I hate to be the bearer of bad news, but they probably forgot about you and your company as well.
It’s sad, but true.
But not all is lost. This is a similar concept to recycling your lost opportunities. Company’s needs change. Heck, your company has probably changed, whether your product, sales pitch, or offering. Stay fresh in their mind!
Actionable Step: Now that it is the beginning of the month, and you can breath a sigh of relief for a few days, it’s time to reengage these leads with a friendly call.
Example: Trouble or an Opportunity?
Take a look at these two charts below slicing the lead aging data for the same company.
Three questions immediately come to mind.
- Why are there 1,235 leads sitting in the “No Activity” cohort?
- How are we reengaging the 247 leads that have fallen out of our daily workflow?
- What is Henry Cavendish’s plan to work with the 561 leads that haven’t been engaged?
Is the current situation an issue? Yes. Leads should never, ever sit in “No Activity”. The “>120 Days” bucket will inherently grow over time, but that doesn’t mean you can’t reengage these leads, although some of these companies will never be a good fit. One way your team can minimize the number of leads in this profile is to set activity reminders in Salesforce.com to follow up in the future.
More importantly, is the current situation an opportunity? YES! You have 1,400+ leads in your sales pipeline that your team does not have to prospect. Have your team (especially Henry Cavendish!) reach out to them today.
Going forward is where the situation gets a little tricky. You need to address the question of how to improve communication between sales and marketing. Whether it is a weekly meeting between the two departments or automated dashboards like the two above, sales and marketing need to work leads together.
Do your leads look like the example above? Check out InsightSquared for easy-to-use lead tracking tools.