Posted by BBN Central on 23rd Apr 2024
Quality Over Quantity: A Strategic Content Investment
Welcome to the fourth instalment in our series of seven articles, each dedicated to exploring smart investment strategies for fearless
READ MOREHow leaky is your lead funnel?
Posted by BBN Netherlands on 8th Aug 2016
Take action now, your market is finite…….
How leaky is your lead funnel?
Lead management is currently a hot topic in the B2B world. Through good lead management, which includes cooperation between marketing and sales, lead qualification and lead nurturing, you are able to get more lucrative deals. But there are two factors that can keep you from becoming successful: the finite Dutch B2B market and the fact that lead funnels are often as leaky as a basket .
A finite market
Make no mistake in the size of the Dutch market, or also known as your target audience. The number of prospects is often much smaller than you think. Test yourself: estimate how many companies there are with 200 or more employees, whom independently make their decisions. Surprise! Not even 4.000 companies. Exclude your existing clients, prospects you are already in contact with and the companies that you will never do business with. What remains? Less than you thought? More reason to be very careful with your prospects. This all starts with the first impression, and you can only make this once. That first impression is usually when people visit your website for the first time. Consider how it would be for you if you are actually visiting your own website for the first time…
The leaky lead funnel
The graph shown below speaks volumes. SiriusDecisions indicates that generally 20% of all leads generated by the marketing department are followed-up by sales and only 30% of those 20% are actively pursued by sales. No less than 70% is recorded as a disqualified lead because sales cannot turn the leads into a deal right away. In practice, sales people, have a preference for prospects that only need to sign the deal. There are tools to determine whether your lead funnel is leaking and to determine whether your lead management is up to date.
However… apparently after two years, still 80% of those disqualified leads will have bought the service and/or product. Prospects need to be convinced about your service and/or product before making the right decision. Giving up too quickly on your prospects, will cost you clients. So stay in contact with them, using an effective lead nurturing program which will offer them interesting content even if they aren’t buying yet. And after all, the real art of selling starts whenever a prospect says ‘no’, don’t you agree?
Posted by BBN Netherlands on 8th Aug 2016
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