Lead Management is an exciting new area that allows you to get the most revenue out of your hard-earned marketing leads. It is based on a series of customized ‘touches’ (email, letters, etc) that educate and inform your leads so when they have a buying opportunity they (ideally) contact you! This eliminates the wasted time calling on leads who might be aware of your product/service but not ready to buy yet.
The most successful lead management campaigns are those designed to address your leads depending on which stage of the buying cycle they are in. Think of a simple 3-stage buying cyle.
- Awareness Stage – where leads know you exist and a little about what you do.
- Interest Stage – when a lead ‘may’ have a buying opportunity and is open to more details.
- Decision Stage – when a lead turns into a prospect and starts to evaluate what you offer.
A good lead management program only gives your leads the information they really need so you maintain their interest and they don’t opt-out. Here are four basic lead management campaigns that address leads in the various stages of the sales cycle.
- Lead Acquisition – this should more accurately be called lead generation. The goal is to get leads to the ‘awareness’ stage and have interest in your product/service.
- Lead Engagement – addresses leads who are at the ‘interest’ stage and open to learning more. The goal is to ‘engage’ them by providing industry information, analyst reports, etc. so they see you as a trusted advisor. Ideally, they respond to your emails and phone calls because they don’t feel like you are trying to sell them something.
- Lead Conversion – addresses leads who are actually ready to buy (i.e. prospects). This is the time to provide buying guides, pricing information, customer testimonials, ROI analysis, etc.
- Keep-in-Touch – is a long-term campaign for inactive leads. This is your typical quarterly newsletter or even an updated link, etc. At this point the lead should know about your products/services so the goal is to be ‘top of mind’ when a buying opportunity arises.
Optimizing your lead management campaigns so they are automated and give true value to your leads is the key to engaging them. When they have a need for your product/service their activity levels will pick up and be ready to move to the next buying stage.
<Download> this 1-page illustration of the above concepts.
– Steve (www.SPMsolutions.NET)