Imagine that you are a farmer (unlike Eric Cantona on behalf of Kronenbourg) and have a field of crops and those crops are infected with vermin.
As a result, you have lower production volume, because the pests are killing some of your output. You have a higher cost of production, poor quality output and ultimately a lower market value. This vermin is effecting both the quality and the quantity of their output.
There are of course a few options to solve this problem:
- Increase the output by buying more land
- Get to the root cause of the issue and stop the vermin for good.
The best approach is to address the quality and then move into quantity.
This very same rule applies to your sales pipeline because business owners and sales people face their own type of vermin. This manifests itself because there might be gaps in your pipeline, but where did those holes come from? How can you proactively address them?
Here are just three effective ways to harvest quality leads at a better rate.
Authenticate your data and automate the process
Poor conversion rates can stem from many places, but one of the easiest ways to nip it in the bud is to ensure your prospecting data is valid. If you are prospecting and the data is flawed then your sales team will waste time dialling bad phone numbers or receiving email bounce backs.
Manual research helps weed out poor data but it is time consuming. You can automate the process so that you have a lot of that necessary contact information without the manual research. If it’s in the public domain, it can be sown, reaped and it can be fed to you. Today’s technology is powerful, automated, auto-updated and intelligent and it’s available today and will help you address the manual research issue.
Properly identify your targets
With sales automation tools like Capture and Yesware, you can start mapping your targets within the contact data. It’s not just about getting that lead list, but it’s about understanding your particular target market, your particular target industries and your particular fields. You can get to the roots and start to understand more about the market in the expectation that you correctly target with the right messages and where your product or service yields the most.
This takes you from being segmented to being personalised. It’s not just specific segments as you’re not just targeting managers in a certain industry, a particular size, and a precise geography. Now it’s personalised information and targeting at the push of a button.
Increase the quantity of prospecting
With your data research done and validated, you’re now ready to talk to known targets and with an automated process…you’ve got more time to talk. You are spending less time researching but you are now equally smart, in fact, you may even be smarter because you’re more informed about the prospect. More prospecting time gives you a higher volume of calls or emails and you are better prepared for your conversations providing you with a quality and quantity advantage
If you combine these steps, you can achieve a high volume and high conversion. These are practices that provide both the quality and the quantity in your sales pipeline development.
As you implement this approach, be sure to measure your success! It’s important that the tools you are using also give you the metrics within your CRM and marketing automation system, so that you can understand your performance and bring continuous improvement to it.
You reap what you sow!
Actually the words of Robert Louis Stevenson are apposite “Don’t judge each day by the harvest you reap but by the seeds that you plant”
If you would like to know more about marketing automation and increasing your sales pipeline then please contact us at www.clientmarketing.co.uk or @clientmarketyks