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Lead Follow-Up: Hot , Warm & Cold
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  1. Lead Follow-Up:Hot, Warm & Cold

  2. Why Follow-UP? • To close new sales. • To increase the amount of repeat sales. • To qualify a database of names for direct marketing purposes. • To make contacts and enhance relationships. • To establish a presence. • To get referrals.

  3. The Lead Manager • Accountable for seeing that leads are tracked through the sales or fulfillment cycle. • Duties & responsibilities: • 1. Creating information gathering mechanism(s) for leads and contacts (lead forms, contact forms, etc.) • 2. Putting a follow-up plan in place • 3. Identifying & training lead fulfillment representatives • 4. Testing lead follow-up • 5. Measuring & reporting the success of lead follow-up • Provide incentive to the Lead Manager to make sure that measurable objectives are reached.

  4. Qualify Leads • Hot, Warm or Cold? How to decide: • 1. Decision maker? • 2. Urgent? • 3. Size of company? • 4. Buying influencer? • 5. Budget? • 6. Purchase timetable? • 7. Level of interest? • 8. Geographic location?

  5. Success Measures • Quantify! Determine a specific numeric amount: • Cost per sale • Cost per lead • Cost per contact • Number of leads generated • Number of leads qualified

  6. Lead Gathering Devices • How will your organization will collect leads: • Paper forms? • Direct entry into a database? • Scanned from a name badge bar code? • Beamed from a PDA? • Purchasing lead lists?

  7. Data Fields • Which fields of data will your organization collect from prospects? • 1. Vital contact information (name, address, title, fax, phone, email, company, email address, etc.) • 2. Budget • 3. Buying influence • 4. Purchase timetable • 5. Urgency • 6. When/Where is a good time/place to contact • 7. Lead Qualification Ranking: Hot, Warm, Cold,Non-Lead

  8. Lead Management Software • Insist on a standard for your company's lead management software. • ACT, Outlook, Goldmine, Uptrends or TeleMagic, Salesforce.com are a few popular programs. • Create and publish a process for using software. • Provide training.

  9. Lead Follow-Up Plan • Elements of the plan include: • 1. Initial follow-up timing: within a day? a week? a month? • 2. Initial communication device: Phone? Email? Fax? Letter? Email? In-person? • 3. Desired result: an appointment? a sale? • 4. "Close" timing: a day? a week? a month? after five visits? • 5. Follow-up personnel: Who will follow up on leads? Sales reps? Trade show operatives? Lead fulfillment representatives? • 6. Lead Qualification: what elements constitute a solid lead? Is the lead hot, warm, or cold? • 7. Incentives: how will your organization incent those responsible for follow-up?

  10. Sales & Marketing Materials • Use or develop appropriate sales and marketing materials for lead follow-up. These materials may include: • Telemarketing scripts • Brochures • Thank you letters • Sales letters • Promotional items

  11. Lead Operative • Inform the operatives of the measurable objectives and desired results. • Outline the administrative & reporting processes for tracking the leads through the sales cycle. Make sure operatives have access and know how to use any technology that is required to enter and track leads. • Communicate the incentive program to the operatives.

  12. Testing • The Lead Manager informs lead follow-up operatives that s/he will randomly test the lead follow-up plan • The Lead Manager performs weekly blind tests of operative contact activity

  13. Follow-Up Reports • The Lead Manager produces regular reports that measure progress and success of the lead follow-up plan • The Lead Manager shares reports with management and operatives. • The Lead Manager makes adjustments to the plan to increase successful lead follow-up. • Provide lead operatives with bonuses, commissions, or other incentives for successfully reaching objectives.