How many leads are you dropping on the floor?
As Internet advertising, and resulting leads, continue to get more expensive lead retention is becoming the buzz in the lead generation and lead management business. The lead retention process has some similarity to other data management problems, but it goes beyond the technical because you are managing personal interactions as well. This is the subtle point many miss in managing leads.
Many lead management solutions merely captures and aggregated lead data into a database and declares them retained. Granted, they are not going anywhere, but neither are your sales numbers.
Lead retention solutions should focus on retaining those leads within a sales process or workflow. Continually advancing them from prospect to customer. Here are some critical success factors in an effective lead retention system:
- Acquire and assess leads for distribution
- Observe the type and frequency of iteration with the lead
- Track leads that require additional qualification or data
- Schedule recurring or extended follow-up on leads
- Updating of lead quality and prioritization
- Process for aging or declining quality leads
- Method for withdrawing and reacquiring leads out of and into the sales pipeline
Lead retention must be an active process within any lead management system. Make sure that all of your leads are moving through your sales pipeline in a proactive manner.