Every now and then, we like to get the insights of other professionals in the sales industry, so our readers get well-balanced opinions. This guest post comes from SalesWings’ Marketing Specialist, Ina Simeonova. Ina has written about predictive lead scoring and how it helps sales teams close more deals.
Generating a large number of leads is a great sign that your business is healthy, and there is tons of potential for success. However, the best businesses have extra tricks up their sleeve to make the lead process more efficient, thus more successful.
By spicing up their sales efforts with an effective lead scoring system.
If your leads aren’t organized, scored and measured in some capacity, there is a high chance that you’re not tapping into the real potential of your business. A predictive lead scoring system is a highly efficient way to prioritize the best opportunities. You will gain a strong foothold in the market rather than grasping at ineffective measures.
1) Okay, I’ve Got the Leads. Now What do I do With Them?
Congratulations! You did a great job and generated loads of leads this month! That was the “easy” part. So, what’s next? The first step is realizing that, unfortunately, not all leads are equal. There are some which are a better fit to what you’re offering and are far more interesting.
Understanding the real basis to lead scoring will help score your prospects more efficiently. There are various ways to qualify and score (rank) your sales prospects. The CHAMP approach is common and can be a good start.
The CHAMP process is simple, wherein you ask targeted questions related to the following:
- Challenges – Understand the pain points of your prospects. What is the biggest problem and challenge they are currently facing? Here you should be asking questions like, “What challenges is your business facing and what problems do you need to solve?”
- Authority – Establish how the customer makes purchasing decisions. Who is involved and who has decision-making power when it comes to deploying a specific solution.
- Money – Determine if your lead has the necessary budget to invest in your solution. Good questions to pose include: “Do you have a portion of your budget allocated to the service/product?”
- Priority – Determine if deploying your solution and solving the particular problem faced is a priority for your prospects. Ask, “When are you planning on starting with the implementation of this solution?” or “When would you like to have this problem solved?”
These questions can help ascertain where leads sit in the buying process and provide better insight on what is needed to close a sale. However, it is important to note that the CHAMP process is, at times, not likely to sustain itself as your business grows.
Generating a good number of leads each month would equate to a mile-long list of contacts. Understanding which ones are a priority and who you should contact first could prove tricky.
Intelligent predictive lead scoring solutions like SalesWings automates the tracking of lead website engagement. It applies lead scores automatically – giving you an instant overview of your leads and serving the hottest ones (the most sales-ready) on a silver platter.
Your sales team no longer loses time on leads that aren’t ready to make a purchase or merely have no interest. Thanks to the lead intelligence feature, you are presented with social insights on your leads, including job title, social media profiles, company info and more.
The result means faster and more effective lead qualification. It points to a better alignment between your sales and marketing teams. Your sales reps receive notifications in real-time once a lead takes action and engages on your website. They can then follow up immediately. In sales “the person who reaches out first is usually the one who ends up closing the deal”, which makes timing crucial.
2) Make the Most out of your Lead Management Software
Once you have a precise definition of what a qualified lead is, and have the right lead scoring system in place, it is time to work on how to keep these leads. Having qualified leads is great, but far from enough if you can’t take advantage of them and close the sale.
You might be asking yourself “How do you accomplish this?”. Ensuring that you have the right technology is essential, as is establishing a sales process that allows you to win marginal gains at each step. This is why implementing lead management software and using it correctly does wonders for your sales cycle and how you manage your prospects and leads.
Having some of the steps automated, such as applying lead scores, as well triggering basic sales and marketing functions, dramatically helps at this point. As a result, you attain an effective predictive lead scoring system.
Prioritizing leads, creating different pipelines and always providing a next step for reps is essential to a successful sales process. Once a lead is established, entering it into a system and managing it through the pipeline with ease is the key to better pipeline management.
3) Don’t Lose Time. Spice Up your Sales Process With the Right Tech!
Qualified leads are only truly considered qualified if the sale closes. If your sales team is constantly losing deals despite having a process in place for lead qualification, it is a signal to delve deeper into your business. In today’s digital age, the right technology is a key differentiator — especially when it comes to sales.
Having the best technological solution, one that allows for effective and intelligent real-time lead scoring, as well as a proper lead management system, is a major asset for your organization. Not only will this make the overall process smoother; it helps sales reps increase their deal-closing rates. Plus, it provides a better oversight into how everything is achieved.
An effective predictive lead scoring system helps you spice up your sales and provides a significant competitive edge over the rest of the market. Increasing sales is a goal for many organizations. The struggle lies in accomplishing the target in the best – and sustainable – way.
Investing in the correct technology to automate some of these functions is one of the best long-term investments you can make for the overall health and success of your business.
About the author: Ina Simeonova is Digital Marketing Specialist at SalesWings – lead scoring and website tracking add-on which upgrades traditional email marketing software with predictive lead scoring, lead website tracking capabilities and intelligent real-time contact data enrichment.