Mistake number one: your lead generation plans do not take into account repeat customers only new buyers
Getting new clients/customers is fantastic and without them, your business would not survive. However, while they are very important, repeat customers are possibly even more essential to your company. Do you consider repeat customers to be new leads? Are they calculated in your final numbers at the end of your lead generation efforts? If not, you should include them! Repeat customers are extremely valuable to your company sales funnel and they prove your nurturing methods are working.
If you do not have systems in place, a lead management system such as LeadByte provides the tools that will help you get on track with all your lead managing. Most especially, they can show you how to account for repeat customers in your lead generation strategy!
Mistake number two: you have not defined your lead
In many organizations, sales funnels do not work because they do not have Marketing Qualified Leads or Sales Qualified Leads. Not having these is a big and costly mistake. These need to be discussed at every quarterly meeting after your statistics have been evaluated and changed accordingly. The definition of a lead should not change across departments, it is so important to have a consistent buyer journey and value clarification that results in your qualified leads. It is from this that you build a fully functioning and successful sales funnel that provides valuable insights.
Top Tip: When you have new employees, make sure you update them on what a qualified lead is that way everyone is on the same page.
Mistake number three: you do not have a lead management system
Did you know that 46% of marketers who have a fully functioning lead management system have sales teams that follow up more than 75% of their leads? Why? Because they have that many validated leads to follow up with as a result of their lead management systems.
When we talk about cost, we do not always mean a financial cost, we mean time-wise as well. A lead management system will save you time in the short run and money in the long run! Leads are the most essential part of any business! No leads, no business so it makes sense that a lead management system is a highly important aspect to a lead generation plan. Without a lead management system, you miss out on opportunities. Trying to develop your own lead management systems comes with its very own set of problems. You will be spending extra time working on something you are not familiar with doing. Your time and resources would be better spent on developing your own services to make them better!
Having a lead management system implemented will help centralize your lead generation efforts and allow you more control and save you time and money. There are various companies like LeadByte that are able to implement lead management systems into your business that you will be eternally grateful for.
Mistake number four: you do not have a buyer persona
It seems like a simple enough concept, when you sell to someone, you have to know who that someone is going to be, which means developing a buyer persona. A huge mistake many companies make is under analyzing what is happening with their target market behind the computer screen. Many strategies tend to focus on the product or the services offered and not the actual client or customer. It is vital that you have personalised messages and segmented targeted ads that will meet your buyer persona. If you do not have a clear buyer persona, it will cost your company and your lead management in both time and money. LeadByte is able to assist you with this when you first begin to implement your lead management system.
Mistake number five: you have not tested your lead generation framework
If you are with us at LeadByte, we will make sure this all done for you to ensure that your lead management system is tested working at its optimum level. However, if you are managing your own lead management framework, you do need to ensure you test that your system is capable of giving you the best results possible. The only way to do this is by testing out your framework on real people to see whether your framework is working as expected and where it needs work. This could prove to be a costly procedure if your framework isn’t set up correctly, resulting in a loss in revenue! We’d highly recommend you’re confident in your framework before launching your lead generation activity.
What are some of the mistakes you have made with your lead management and how did you fix them? We want to know what your problems are so we can help you resolve them. More importantly, if this article has helped you see the light and you are now desperate for your business to have a lead management system please reach out to LeadByte for a free demo here!