Know What Works: Managing Leads
The PipelineDeals Team has been busy crafting some major improvements around Lead Management. Keep an eye out for upcoming posts this week and next week previewing the upcoming release. Leads are obviously a critical part of the sales process – actually the very top of the sales funnel. Without good organization and execution around lead prospecting, vetting and qualification – there would never be any deals to manage. No deals equals no new business. In fact, you will see a new Leads tab as part of the upcoming release. The new tab demonstrates how important we have found leads to be based on our Client feedback.
As we all know leads cost money – whether you acquire leads at a Trade Show, from current Clients or buy them from a lead provider. It is important, especially in long sales cycle businesses, to know what works. Did that trade show last year in Las Vegas pay for itself in business? Should I go back to the same show this year or should I spend that money on a direct mail campaign? Businesses around the world ask the same questions every year. Well, those questions will end here and now with the PipelineDeals Leads 2.0 Release coming in the next couple weeks.
Start pulling together costs for any lead sources you have in PipelineDeals. As part of this upcoming release, PipelineDeals users will be able to establish a Return on Investment (ROI) for each lead source in the application. Lead costs will be calculated in one of two ways – it is up to you. Either you can assign a cost to a lead on an individual basis – as a cost per lead (CPL). Alternatively you can have us do the math for you and you can enter one lump sum per lead source which we will divide by the number of leads from that same source.
We plan to help you solve the mystery of knowing where to spend your marketing and lead generation dollars. Of course, the data out is only as good as the data in, so take the time now to begin defining your lead costs so you can find the ROI of your lead sources sooner rather than later.