As your sales funnel gets bigger and wider, it’s challenging to keep leads within your grasp.
Lead leakage is a serious issue and can cost you a lot. It refers to leads entering the funnel as prospects and potentially moving through the funnel forgotten.
Plugging a hole in your sales funnel is critical to reducing lead leakage and response time.
Considering all the facts about lead leakage and response time, Corefactors had conducted a webinar with Mrs. Sharmila Sundaram, CEO, Corefactors.
The participants learned about techniques to implement in their business that can reduce the lead leakage and response time to zero.
Some of the best points highlighted by Sharmila which is important in the lead management system were:
- Controlling and managing all the lead sources.
- Changing the approach in contacting and managing leads.
- Sales funnel optimization.
- Refining leads to a nurturing strategy.
- Turning prospects into customers.
How can you repair and maintain a healthy sales funnel and reduce the response time?
Depending on the situation, sometimes the best way to stop leads from slipping away is to reduce conversions at the top of your sales funnel.
Examine your customer journey to identify leaks in your overall sales funnel.
Here are some steps that can be taken to reduce lead leakage:
Lead Nurturing
Integrate a lead nurturing strategy into your lead management process. Put some thought towards your target market and send relevant content to them.
Send it to the right person at the right time. This ensures effective nurturing. Use automation to track digital behavior.
Measure Marketing and Sales Process
Define, automate, and track the marketing and sales process. These two departments should work together to define what is considered as sales-ready.
Manage these leads by effective nurturing methods so that you don’t lose them while focusing on new ones.
Prioritize Leads
Make sure that the sales team is focused on the leads that have the highest potential return. It is done so that the hot leads come forward to the top.
Marketing can help the sales team to focus on sales-ready leads passed over by integrating a scoring system based on a lead’s demographics.
Reduce Marketing and Sales Loophole
Knowing more about what the prospect is interested in is important to providing value.
Therefore, nurturing is crucial. If your leads are nurtured throughout the process, when he is ready to buy, your company might be the one that would come to his mind first.
Leaving the nurturing process entirely to the sales or marketing team is not an ideal solution. They need to work together to ensure that they are not losing any valuable leads.
The webinar concluded with a brainstorming question and answer session where all the doubts were cleared by Mrs. Sharmila Sundaram.
She also explained everything using examples and real experiences. The webinar was thoroughly enjoyed by all the participants.
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