Since times immemorial, for every company the customers have always been the top priority. This has been chiefly because it is the customers who get business for any company.
Similar is the case with B2B businesses where lead generation and sales management are of prime importance so as to ensure that the sales pipeline is always chock a block. But, many big and small companies are still not aware of it. If one does not know the number of leads in the sales pipeline or at what stage the leads are in the sales cycle, it can have a huge impact on the final target of the company. This gives rise to some thought provoking questions which need to be answered, like:
- How to find new customers?
- Where the marketing budget should be spent?
- How is the ROI measured?
There are some ways of generating more and better quality leads. These are also the solution to the above mentioned unanswered questions.
1. Importance Of Branding
An ongoing argument has ensued regarding the importance of branding in today’s world. While some would nod in affirmative, others would give a plain negative answer. So, the question arises, ‘Does it matter?’ But of course, as brand recall is crucial for any campaign to succeed and for any product/service to be sold in a competitive market.
2. Target Markets
This is basically about how well you know about your potential customers. This is important because, to be successful in lead generation and sales, one needs to know everything regarding the target markets.
3. Contacting Prospects
The potential customers can be contacted through referrals or through the telephone, whichever is more suitable.
4. Sale Ready leads
The key to long-term profitability is Lead management. Researches show that only 10% of the total leads are in the “sales ready” bucket. The remaining 90% are not ready or able to make a purchase decision and require a nurturing plan which is about managing qualified leads throughout the sales cycle.
5. Return On Investment (ROI)
A lot of investments are being done in the name of creating sales and profit- branding, prospects list, prospects contact, lead management and nurturing strategies. But, how does one calculate the return on that investment? Having a well-defined closed-loop marketing system is the only way of doing it with accuracy. ROI becomes a lot easier to determine if one is able to match up the lead generation processes and costs with the specific data of closed sales.
Lead generation is important as well as knowing about the leads in the sales pipeline which helps in attaining the final goal of revenue generation for the company. To sum up, customers are the sole reason for the existence of any organization as without this vital element, any establishment would be ‘dead and buried’ a long time back. By following the above mentioned practices, it becomes much easier to acquire leads and maintain the clientele.