Improving Your Lead Close Ratio: Seven Tips for a Successful Sales and Marketing Process

By Kristina Blanco, The Spectrum Services Group

We all know that technology only lasts so long before it becomes obsolete. All companies will eventually need to upgrade, install better software and implement improved processes if they expect to grow and be successful. That’s where Resellers come in. Those of you who are software resellers have the opportunity to give these organizations what they need to take their business to the next level. If you’ve ever been concerned that leads may be falling through the cracks – this article is for you!

All too often software providers miss opportunities that are then picked up by competitors. Why? Though there may be several different reasons for this, many lost sales are due to a breakdown in the marketing and sales follow-up process. Gartner research estimates that as high as 70% of true leads aren’t even followed up with! And we all know that if they’re going to buy from you – they need to know, like and trust you.

Therefore, we came up with these seven tips for a successful sales and marketing process in order to help you avoid some of the common pitfalls and take advantage of opportunities for success.

  • Have a well-defined target market. Take a look at your best and worst implementations and search out similarities amongst them. This will give you a good idea regarding the types of companies you should be targeting, and those you should avoid. Reaching out to those which are more likely to produce a profit will save you money, and increase the success of your marketing efforts.
  • Deploy a multi-dimensional marketing plan. Forcing your marketing into a box and expecting it to generate leads won’t work. You should seek to consistently create, evaluate, and measure the effectiveness of different campaigns.
  • Don’t rely on ‘cost-per-lead’ as a success metric. This method tends to encourage unnecessary volume of leads rather than the uncovering of true leads. A better plan is to compare cost-per-opportunity, or cost-per-closed-deal.
  • Commit to a long-term effort. Leads are not generated overnight, rather through a consistent and thorough approach.
  • Appropriately define your leads. Adding subsets will help your sales team differentiate between those that need attention today, and those which may need follow up a little further out.
  • Resist the urge to force sales teams to ‘produce’ only in the short term. Rather, set both short and long-term goals in order to encourage that all true leads get follow up regardless of their potential close date.
  • Recognize that not everyone belongs in a Sales Department. It takes a special person to be able to make follow up calls, get in touch with decision makers, and create a relationship with them. If you put the right people on the phone you’ll close more deals.

Combining a well planned and ever evolving marketing process with a consistent nurture and follow up program – you’ll be much more likely to improve your lead close ratio. Further, encouraging collaboration and communication between your sales and marketing teams will ensure that the appropriate leads are passed from one department to the other without falling through the cracks.

As always, if you need assistance with your marketing process, The Spectrum Services Group can provide it. From Foundation to Lead Generation to Nurture Marketing (which includes Inside Sales & Customer Care) – we do it all! If you’d like to discuss ways in which you’d like to improve your marketing efforts, give us a call – we’d love to hear from you!