Sales pipeline development focuses on the leads generated and nurtured in a business in order to manage potential prospects and encourages them to become new clients.
One of the most important steps to pipeline development and management is creating a sales and marketing process from initial contact through closing and repeat sales. A top performing sales and marketing team knows this strategy and executes it consistently. If you’re struggling with sales pipeline development and management, trust Concept to help you move your sales leads from the top of the sales funnel to the bottom.
The Concept Difference.
Concept is a unique sales development and marketing agency. We specialize in helping our clients track all leads through any portion of the sales funnel. We develop a custom reporting dashboard for each client, so they have complete visibility into how their leads and campaigns are performing. With our partnerships with Salesforce and HubSpot CRM platforms, our clients are also able track their conversions from various media buying platforms. At Concept, we connect all sales and marketing efforts back to actual closed deals and prove true ROI.
Lead qualification can be a complicated task for any sales rep. Figuring out who to call when you have a list of hundreds, or thousands of names can be daunting. Let Concept manage it for you and have your sales reps handling the sales qualified leads.
Our sales development representatives can help with your B2B sales lead qualification by filtering through a number of prospects and prioritizing them to ensure your sales team is maximizing their time with good-fit prospects.
We understand the importance of your criteria for sales qualified leads and with whom you need to speak.
We look at the mindset of the different types of prospects we call for each client. We work with you to understand your prospects’ concerns, pains, fears, and desires as it relates to your services and products. We are able to articulate your value proposition in the best light and help them understand how you can eliminate their pain and move them toward their business goals.
When we have identified a qualified sales lead, we help track the qualified leads your sales team has and get them in front of the prospect when they are ready to buy.
Identifying highly qualified B2B sales leads is one of the ways Concept has become one of the most effective sales development agencies.
What is Lead Qualification?
Lead qualification is a process of marketing and sales teams working together to forecast the likelihood that a prospect will ultimately make a purchase. It occurs at every stage of the sales journey and ultimately decides if the prospect will be funneled down the pipeline.
The first step of lead qualification happens during the inbound marketing stage. At this stage, your company’s marketing team captures contact info via site visits, email subscriptions, or social media, then decides if the lead fits the profile of your company’s ideal customer.
This qualifies the prospect to move on to the next step, which is a discovery call from a sales rep. The sales rep leads a conversation that reveals the prospect’s needs, project timelines, purchasing authority, and any budgetary constraints.
Information gathered during a discovery call further determines if the prospect is viable of the time it takes to craft a proposal, or if you’re better off pursuing someone else’s business.
LET’S TALK LEADS
Why Lead Qualification is Important?
Lead qualification is important because it saves you time, energy, and ultimately your bottom line. It occurs very early in the pipeline, ideally when you’re making initial contact or even beforehand. It helps you determine:
- If the prospect is in the right industry and territory to benefit from your product
- If they have a need your product can solve
- If the person you’re talking to has the budget and authority to make a purchasing decision
- If there is some way you can provide value over your competitors or the prospect’s current vendor
- If the lead doesn’t meet your criteria for what makes a qualified prospect, then you can disqualify them. Disqualification may sound like a bad thing, but in reality it saves you time and allows you to focus on more promising contacts.
Bottom line, lead qualifications allows you to quickly assess whether or not you’re talking to a person that has any real intent in buying what you’re selling.
What is Lead Scoring?
Lead scoring is a key component of lead management that allows you to track your prospects’ online behaviors and web activity to determine their level of interest in your solution. This allows you to decide if this prospect is worth pursuing. It has been found that just a 10% increase in the lead quality translates into a 40% increase in sales productivity. Furthermore, companies that implemented lead scoring mechanisms have increased their lead generation ROI by 77%.
Your prospects are going online to websites, social media, webinars, and podcasts to research products and services long before making a purchase. When you score leads based on this behavior and perceived interest level, you can determine the most qualified leads to funnel to sales, promote sales and marketing alignment, and enhance revenue performance.
Investing in lead scoring will make the most out all of your leads in your pipeline. Lead scoring will help filter unqualified leads and focus resources on the marketing qualified and sales qualified leads. You will be able to strengthen your revenue lifecycle by separating sales qualified leads (or ready-to-buy leads) from those that still need nurturing. Lead scoring streamlines lead flow, productivity, and efficiency between marketing and sales to simplify processes so your teams can focus on what they do best.
Lead scoring is a shared sales and marketing methodology for ranking leads in order to determine their sales-readiness. Review lead scoring best practices and how they use demographic and firmographic attributes, such as company size, industry, and job title, as well as behavioral data, to score leads.
Lead scoring basics
Trust Concept to utilize the difference between explicit lead scoring (budget, authority, need, timeline) and implicit lead scoring (online activity, inferred geography, data quality factors) and how to combine the data to determine the prospect’s value to your business and the business’s value to the prospect.
One of the most challenging parts of lead scoring is getting started because it requires specific market intelligence knowledge to kick things off.
Advanced Lead Scoring Strategies
After building your base lead scoring information, the next step is to score by behavior, implement product and scoring, and monitor decrease in lead score. We’ll work with you to incorporate our best practices for a regular lead scoring checkup process, so you can take stock of your database, add or remove content, build new opportunities, and evaluate the accuracy of the data coming in and out of your system.
Lead lifecycle management
The sales funnel starts with demand generation and ends with a closed deal. As your lead scoring program develops, you’ll need to master your sales funnel lead management to keep track of sales-accepted leads (SALs), recycled leads, and service-level agreements (SLAs).
What happens when your data quality is poor? Is it best to sell to only large companies? Learn about common pitfalls and misconceptions sales teams face when implementing a lead scoring program.
The ROI of lead scoring
Lead scoring increases leads to opportunities, decreases the sales cycle length, boosts sales productivity, and generates revenue.
B2B lead generation is the first step of the sales process, but once you’ve got some sales leads, you need to get the most out of them. This is where inbound and outbound lead management services can help you take your sales effort to the next level.
Sales Lead Management
We help you rank and prioritize your sales leads, based on which prospects are most likely to buy. Our lead management process includes developing a systematic way to evaluate your prospects’ pain (the level of specific problems that the prospect needs to solve) and motivation (the prospect’s eagerness to buy). This helps your sales team focus on the prospects that are most likely to buy, making for a more efficient sales funnel.
Sales Lead Nurturing
Just because a prospect says “no” or “not interested” today doesn’t mean they will still feel that way in a few months. Companies’ needs change, budgets change, key decision makers move on or get promoted, and suddenly a prospect can go from “not interested” to “highly interested.” We’ll give you a consistent sales lead nurturing system to keep in touch with your prospects for the long-term, building business relationships by following up with helpful advice and insights along the way.
Web-based Lead Management Tools
All of our clients get full visibility into the results of their lead management programs with 24/7 access via a designated website. You’ll be able to see our sales agents’ notes and updates on every conversation with prospects and watch the sales relationships develop over time.
Keep Your Sales Leads Alive and in the Pipeline
Too often, companies spend money on marketing and advertising to create a steady pipeline of sales leads but fail to invest in lead management. Without steady, focused follow up, promising business leads will fall through the cracks and go to waste.
We assist growing your sales funnel through various forms of marketing that include:
We’ll work as your partner to develop a lead management program that is custom-designed, scalable and adaptable for any budget. Whatever your biggest challenges and priorities might be, we’ll give you as much or as little lead management support as you need.
With plenty of inbound sales leads from various marketing channels, how many of these leads are ever qualified? Your lead nurturing process may face some common sales difficulties. Your business may experience a qualification gap if you don’t have phone qualification as part of your lead nurturing workflow. Many of your sales leads may end up with an “unknown” lead score. By adding Concept Sales Development services to your lead nurturing process, your “unknown” prospects can turn into sales qualified leads and shrink the qualification gap.
LET’S TALK LEADS
Common Lead Nurturing Challenges
After adding inbound leads into a database or CRM, they are sent directly to your sales reps without any lead qualification. Frustrated – your sales team has a large number of unqualified leads to manage. Some of your reps may have stopped following up on these leads because they are deemed “a waste of time”.
You are manually emailing or marketing automation program, like Pardot or HubSpot, to qualify leads by sending qualification questions and having a low response rate from your leads.
Your sales team is busy managing sales qualified leads and current customers and doesn’t have the capacity for proper follow-up with all of your leads. As a result, good leads aren’t being converted into sales qualified leads. Many companies acquire promising sales leads from trade shows, conferences, and webinars, to discover that they don’t have enough time to follow up with the leads.