Why would a sensible business person entrust the disposition of these leads to some third party without limitation or control of their use? Why is this valuable asset not considered valuable? Why is it assumed that it was simply "bad timing" that the salesman couldn't get an order? - - the answer is not simple. 20 years ago print media leads cost $35 to $50; wisely developed direct mail leads cost 20% less and telemarketing leads were around $15 to $20. With an abundant lead base and low investment cost, the concentration was on getting the sale. The unsold lead was relegated to limbo. Today the cost of marketing in many organizations is higher than the selling cost and depending on the product more than the installation cost. Why then such an irreverence about controls and/or distribution? Is it because management hasn't looked, hasn't kept methodical records or has let their awareness be obfuscated by volume?
The prudent and well managed marketing organization:
- Logs every lead into their database.
- Assures that every lead contains a name, address, phone number, email address and fax number.
- Insures that leads are confirmed (optimally within 48 hours) into appointments.
- Supervises lead issuance and regulates the number of leads issued daily, then requires that unsold leads are reported, detailed and returned within specific time parameters which can range from 30 days down to 24 hours. (The shorter the better).
- Rehashes unsold leads to confirm appropriate use by the salesperson and if they are not otherwise fulfilled (sold) they are entered into a database for future redistribution. Issues of presentation rate, gross close rate and net close rate (gross close less credit rejects, company rejects and rescissions) are carefully detailed and are part of a report analyzed at the close of each month's business.
Author: Dave Yoho
About the author:
Dave Yoho (www.DaveYoho.com) is president of one of the oldest, largest and most successful consulting groups in the United States as well as being a dynamic motivational speaker. He has produced numerous recorded series that will help you improve your business. Check out his website (www.DaveYoho.com) for more information on how his team can help your company meet or exceed its goals - - or call - - (703) 591-2490.
Article source: Free Management Articles.
