If your sales team is like many others, you could be regularly losing leads without even realising it. There are many reasons why this happens, but it often stems from your marketing, sales, account reps and lead gen team failing to work together effectively.
Here are just 4 of the most common reasons why leads are lost, and what you can do about it:
- Failure to act on poor web traffic conversion rates
If the conversion rate on your website is very low, you should be asking yourself – why, and what can I do about it? If it’s down at 2%, you need to take immediate action to capture as much of the remaining 98% traffic as possible.
The first step is to delve deeper to investigate your web traffic. There’s a wealth of data available if you know where to look, and you can even use new tools to gather information about a normally anonymous website visitor. You can find out which companies are interested in your services, and take the initiative to contact them yourself.
The other thing to put right is your website itself. Is the call to action not strong enough, does the navigation and the user journey need work or is there another issue to address?
- You’re too slow
Even if you think your sales team have an impressive record of responding to or following up with leads, there is always more you can do. Research has shown that within as little time as an hour, your chances to qualify the lead drop dramatically. Leave it 30 minutes as opposed to 10 minutes, and the odds of success could fall as much as 21 times. Remember – every minute counts in lead generation.
- You’ve got too many leads
Lots of leads is a good thing, right? Unfortunately, this could be one of your lead gen team’s main weaknesses. With too many leads to nurture and manage, and only so many team members and so much time in the day, something will have to give. This is most likely to be quality, with more time being devoted to some leads rather than others which could potentially be better optimised for your business. It could leave your team with difficult decisions to make every day over who to prioritise, and what if they make the wrong choices?
There are a couple of ways to resolve this. The first is to increase your resources, but it could be more worthwhile to look at how you approach lead generation. Could you be better off outsourcing? How can you best optimise your time and resources to manage lead generation and sales more efficiently?
- Your capture process is too complicated
The fewer fields your form has and the quicker it can be completed, the more likely a lead will stick around to complete it. Take a look at the way you capture new leads and see if you can streamline it.