Casual Articles - Managing Leads: 3 Actions You Can Take While Waiting for IT to Deliver Your CRM Solution

Lead management is the process of turning leads to customers. Virtually every company has some form of lead management process. Few do it well, though, and many admit they are muddling along, waiting for an all-inclusive CRM solution, hoping that it will manage sales opportunities for them.

This approach poses two problems:

1. It defers the hard work of thinking about lead management until IT starts implementing an all-inclusive solution. This, in turn, means that a solution is less likely to result in processes that have been thoughtfully re-engineered, fully incorporating the best insights from top sales and marketing staff.
2. It discourages consideration of tactical fixes that could be delivering incremental improvements and learnings well before the arrival of a full CRM-based solution.

In my experience, there are almost always solid opportunities to improve the way prospects are managed. Often the involve changes that are affordable and easy to implement without waiting for a full CRM system.

Three of the most common opportunities:

1. Program planning for non-converters: A typical lead-generation program produces 20 leads for each final sale. In most companies, program planning is focused on managing leads through to a final sale. Often when we ask, "What do you do with those who raised their hand but never purchased?" the answer is either "Nothing" or "We follow up when we can."

   Common sense suggests that many of those who inquire are not ready to purchase within the timeframe of a particular marketing campaign. Recent research suggests that over half of all prospects take more than a year to purchase – and that nearly 70% of non-buyers, when contacted 6 months after their initial inquiry, will say they are still in the market and still planning to buy.

   Non-buyer recontact programs are one of the most-effective ways to improve the productivity of lead management efforts.

2. Enhancing sales process for lead cultivation: In her book, "The Green Banana Papers", Chris Coleman uses the banana harvesting as a metaphor for marketing – the task of marketing is to harvest bananas, 95% if which are green. Sales focuses on the 5% that are ripe. Non-converter programs succeed because, simply through the passage of time, some bananas will ripen. Several companies have used this insight to build sales teams on the "Hunter-Farmer" model. The Hunter is the traditional sales rep, whose primary concern is to close sales. The Farmer's concern is to cultivate leads until they are ready for closing.
3. Retaining data for analysis: Companies typically assume that solicitation lists and program documents should be discarded, that they contain little information value outside the context of a CRM system. On the contrary, the effort to collect and retain such information can generate significant insights about how to improve lead management. Solicitation lists can be aggregated to support performance analyses to determine the optimal frequency and timing of programs. They may also disclose fixable problems created by excessive or uncoordinated messaging.

   Companies that retain solicitation history, planning documents and results analyses generally provide much more effective guidance to the selection and implementation of CRM and marketing automation solutions. In one recent case, a client of ours found they could provide marketers three years of campaign history in the first release of their newly installed campaign management system.

• Store all leads
• Maintain all information including contact information, business characteristics, product interest, and communications preference
• Provide lead ranking measures
• Plan and manage communications to move leads through the sales process
• Support testing and measurement of lead management strategies
Everything in Life is Selling
Robert Louis Stevenson said 'Everything in Life is Selling' and it is. Whether as a child you cry until you get what you want; whether as an adult you provide a service to your employer in return for payment; or whether as an individual you make sure that you look your best before meeting someone on a date, they can all be defined as selling.Selling has been with us probably forever. It could be said that the first salesperson was probably the Serpent in the Garden of Eden. Selling apples in return for infinite wisdom may seem far removed from your own sales activities but they are neverth best insights from top sales and marketing staff.
• It discourages consideration of tactical fixes that could be delivering incremental improvements and learnings well before the arrival of a full CRM-based solution.

In my experience, there are almost always solid opportunities to improve the way prospects are managed. Often the involve changes that are affordable and easy to implement without waiting for a full CRM system.

Three of the most common opportunities:

1. Program planning for non-converters: A typical lead-generation program produces 20 leads for each final sale. In most companies, program planning is focused on managing leads through to a final sale. Often when we ask, "What do you do with those who raised their hand but never purchased?" the answer is either "Nothing" or "We follow up when we can."

   Common sense suggests that many of those who inquire are not ready to purchase within the timeframe of a particular marketing campaign. Recent research suggests that over half of all prospects take more than a year to purchase – and that nearly 70% of non-buyers, when contacted 6 months after their initial inquiry, will say they are still in the market and still planning to buy.

   Non-buyer recontact programs are one of the most-effective ways to improve the productivity of lead management efforts.

2. Enhancing sales process for lead cultivation: In her book, "The Green Banana Papers", Chris Coleman uses the banana harvesting as a metaphor for marketing – the task of marketing is to harvest bananas, 95% if which are green. Sales focuses on the 5% that are ripe. Non-converter programs succeed because, simply through the passage of time, some bananas will ripen. Several companies have used this insight to build sales teams on the "Hunter-Farmer" model. The Hunter is the traditional sales rep, whose primary concern is to close sales. The Farmer's concern is to cultivate leads until they are ready for closing.
3. Retaining data for analysis: Companies typically assume that solicitation lists and program documents should be discarded, that they contain little information value outside the context of a CRM system. On the contrary, the effort to collect and retain such information can generate significant insights about how to improve lead management. Solicitation lists can be aggregated to support performance analyses to determine the optimal frequency and timing of programs. They may also disclose fixable problems created by excessive or uncoordinated messaging.

   Companies that retain solicitation history, planning documents and results analyses generally provide much more effective guidance to the selection and implementation of CRM and marketing automation solutions. In one recent case, a client of ours found they could provide marketers three years of campaign history in the first release of their newly installed campaign management system.

Whether you undertake lead management yourself or engage a lead management partner, your solution should provide the following:

• Store all leads
• Maintain all information including contact information, business characteristics, product interest, and communications preference
• Provide lead ranking measures
• Plan and manage communications to move leads through the sales process
• Support testing and measurement of lead management strategies
Considering a Career in Auditing or Accounting
One industry that is growing by leaps and bounds is the auditing and accounting industry. There are many great jobs available for people in this career field who have the appropriate educations. If you were to become an accountant, you would perform tasks such as keeping public records, making sure that taxes are filed appropriately, and helping a business to maximize their production. Whether you choose to work for the state government, federal government, for a business, or even for yourself, this kind of a career can be very rewarding.Careers AvailableThe auditing and accounting mon sense suggests that many of those who inquire are not ready to purchase within the timeframe of a particular marketing campaign. Recent research suggests that over half of all prospects take more than a year to purchase – and that nearly 70% of non-buyers, when contacted 6 months after their initial inquiry, will say they are still in the market and still planning to buy.

Non-buyer recontact programs are one of the most-effective ways to improve the productivity of lead management efforts.

• Enhancing sales process for lead cultivation: In her book, "The Green Banana Papers", Chris Coleman uses the banana harvesting as a metaphor for marketing – the task of marketing is to harvest bananas, 95% if which are green. Sales focuses on the 5% that are ripe. Non-converter programs succeed because, simply through the passage of time, some bananas will ripen. Several companies have used this insight to build sales teams on the "Hunter-Farmer" model. The Hunter is the traditional sales rep, whose primary concern is to close sales. The Farmer's concern is to cultivate leads until they are ready for closing.
• Retaining data for analysis: Companies typically assume that solicitation lists and program documents should be discarded, that they contain little information value outside the context of a CRM system. On the contrary, the effort to collect and retain such information can generate significant insights about how to improve lead management. Solicitation lists can be aggregated to support performance analyses to determine the optimal frequency and timing of programs. They may also disclose fixable problems created by excessive or uncoordinated messaging.

  Companies that retain solicitation history, planning documents and results analyses generally provide much more effective guidance to the selection and implementation of CRM and marketing automation solutions. In one recent case, a client of ours found they could provide marketers three years of campaign history in the first release of their newly installed campaign management system.

Whether you undertake lead management yourself or engage a lead management partner, your solution should provide the following:

• Store all leads
• Maintain all information including contact information, business characteristics, product interest, and communications preference
• Provide lead ranking measures
• Plan and manage communications to move leads through the sales process
• Support testing and measurement of lead management strategies
Translation and DTP Versus Translation Only
Have you ever thought about how you’re going to work with your translated Word document once you get it back from your translation company? There are various issues to consider relating to fonts, whether you’re working in a Macintosh or PC environment and how you’re going to identify the text once it’s translated into Simplified Chinese or Russian!The first issue is fonts which can prove to be a tricky problem. If you’re working in a PC environment and using Windows XP you can enable the fonts for various languages in Microsoft Office by going to:Start > Programs > Microsoft Officwill ripen. Several companies have used this insight to build sales teams on the "Hunter-Farmer" model. The Hunter is the traditional sales rep, whose primary concern is to close sales. The Farmer's concern is to cultivate leads until they are ready for closing.
• Retaining data for analysis: Companies typically assume that solicitation lists and program documents should be discarded, that they contain little information value outside the context of a CRM system. On the contrary, the effort to collect and retain such information can generate significant insights about how to improve lead management. Solicitation lists can be aggregated to support performance analyses to determine the optimal frequency and timing of programs. They may also disclose fixable problems created by excessive or uncoordinated messaging.

  Companies that retain solicitation history, planning documents and results analyses generally provide much more effective guidance to the selection and implementation of CRM and marketing automation solutions. In one recent case, a client of ours found they could provide marketers three years of campaign history in the first release of their newly installed campaign management system.

Whether you undertake lead management yourself or engage a lead management partner, your solution should provide the following:

• Store all leads
• Maintain all information including contact information, business characteristics, product interest, and communications preference
• Provide lead ranking measures
• Plan and manage communications to move leads through the sales process
• Support testing and measurement of lead management strategies
Using Open Houses To Promote Your Daycare Centre
Open houses are the best way to convince parents to sign their children up your centre. But for an open house to be an effective marketing tool, there are some pre open-house preparations to be made and a budget allocated. What you want to is create a memorable experience for both the parents and the child.1. Timing Open houses should be over the weekends so that the working parents can check out your centre at a leisurely pace. It can be over one weekend or if resources permit, offer it over two or three weekends.2. Promoting your open house There are a number of ways to tion history, planning documents and results analyses generally provide much more effective guidance to the selection and implementation of CRM and marketing automation solutions. In one recent case, a client of ours found they could provide marketers three years of campaign history in the first release of their newly installed campaign management system. Whether you undertake lead management yourself or engage a lead management partner, your solution should provide the following:

• Store all leads
• Maintain all information including contact information, business characteristics, product interest, and communications preference
• Provide lead ranking measures
• Plan and manage communications to move leads through the sales process
• Support testing and measurement of lead management strategies
• Allow marketers to evolve lead management processes

An interim lead management solution is often a very affordable way for marketers to improve performance while awaiting full implementation of an Enterprise CRM System. The incremental learnings and historical data can speed the successful adoption of any new system.

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