Corporate growth, good or bad, can be traced to sales lead follow-up! It counts more than product quality, brand name, or money spent on marketing. Once you achieve critical mass on follow-up (90%), it is within your power to accurately control your future by spending on marketing programs with predictable outcomes and growing the sales force. When you achieve this follow-up, a stunning cascade of events occurs:
1. Sales forecasts are met.
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BuyerZone and the LeadsCouncil recently published "The State of B2B Lead Generation 2012." We are impressed with the 19-page survey results, available in depth by clicking here or accessing the survey on the SLMA website in the research section (requires login for B2B Articles and Whitepapers).
We show some results here, with our editorial remarks, which are not part of the finished survey results.
Who’s using CRM and what are they using?
• 56% of survey respondents are using some sort of CRM system. SLMA: This number appears low, unless respondents are more representative of small business (which appears to be the case).
• 78%, with three or more marketing people on their team, report using a CRM system. SLMA: Marketing often drives CRM implementation.
• 24% of respondents don’t know the definition of CRM. SLMA: This is scary!
• Of the systems being used, SalesForce leads the pack with a 21% usage number. SLMA: Surprisingly low, but BuyerZone also quoted Forbes’ report as saying that SalesForce had only 15% of the market.
• Other systems in use include ACT! with 16%, Goldmine, Tigerpaw, and in-house systems.
• 31% are still using Excel. SLMA: this doesn’t surprise us, but it shows that after 25 years of CRM (or lesser versions) and we’ve still got nearly a third of businesses using Excel. Go figure! The cost of a web-based CRM system today is a rounding error for most companies.
Marketing Automation?
• 87% of those surveyed don’t use a marketing automation system. SLMA: this is in line with what the MA companies report.
Continue reading "BuyerZone and LeadsCouncil: The State of B2B Lead Generation 2012 Results" »
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How to avoid losing your Lead Generation Budget i
When management, for whatever reason, decides to cut the lead generation budget the consequences have both long and short-term penalties for the company and its salespeople.
First some definitions, and then a practical story:
A Sales Lead Blackout occurs when all lead generation activities cease.
A Sales Lead Brownout out occurs when there is a partial sales lead generation cut-off.
A True Story
The President of the small public medical instrumentation company called in the VP of Marketing and immediately launched into his problem.
“We are half-way through the year, our forecast is off a bit, expenses are up. I made promises on earnings per share and I need to cut the marketing budget for the last quarter of the year. Go look at your budget and give me the best news you can.”
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Lack of follow-up by sales reps is the number one failure for lead generation campaigns. If salespeople can’t do it, get a marketing automation program.
Unless the potential customer is willing to over-look the lack of follow-up and buy without hearing from a salesperson (usually B2C sales leads) your company has a huge sales lead leakage issue and you're failing.
Industry stats, articles, research and pundits report a 75-90% failure in sales lead follow-up by most companies. This isn't a minor leakage issue it is a massive problem because it says that the marketing failure is in direct portion to the lack of sales lead follow-up.
The stats people keep quoting are 45% of the salespeople give up after the first phone call. Here are a few things I teach sales reps:
-Nearly half of all sales leads turn into a sale for someone.
-75-90% of all inquiries and leads are not followed-up by anyone in sales.
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