Quantity vs Quality – Lead Scoring a potential early solution?

Pipeline Activity Metrics are critical i.e. Calls, Appointments, Proposals - sales is somewhat of a “Numbers Game”. Yet smaller firms in leaner times with more focused sales operations need early indicators that sales people are working the right deals. The firm must be very careful with effective sales resource utilization to ensure the profitability of marketing and sales operations.

The success metrics of working the ‘right deals’ are represented by – Faster sales cycle, Higher revenues, Lower cost of sales, Higher Profitability and Greater Lifetime Customer Value. We all want this! So what is the rub.

Traditionally - Marketing and Sales are not compensated on these metrics and thus quantity often wins out over quality. Yet as we change our compensation focus on these metrics we often shoot ourselves in the foot by being too selective too late in the process. We need to reach a balance between quality and quantity. By providing an indicator as early as possible in the process helps everyone manage themselves more effectively.

Initially it is Marketing and Sales responsibility to get on the same page to define what target segments and the related data elements in these sub-segment defines a good lead. Historical data captured by a SFA / CRM tool is critical to understanding which deals best aligned with successful Marketing, Sales and Service processes. Additionally, as the deal progresses through the sales funnel additional data elements should be collected which further qualify the deal.

Lead scoring is a process of rating a lead on these initial data elements as the lead is identified and at each sales stage it progresses through to determine the best fit moving a deal forward in the defined marketing and sales process.

Additional details and documentation on Lead Scoring can be found at Eloqua -http://www.eloqua.com/resources/

For more information on integrating marketing, sales and customer service to drive the greatest lifetime customer value, please contact us at info@bb2e.com or visit us at www.bb2e.com

Comments

[Ecommerce website developers]

Wow, very interesting topic you have here.. Nice to visit your article and gain some knowledge from it. I enjoyed reading this post. hope to see some more articles from you.

[domain register]

Hi dude, great words you have here and its truly said. I believe as qualify is there, quantity should also be there.

[Embracetheooo]

I am familiar with breaking down target markets. I agree with your opinion but as a business strategist there should multiple options in place. Essentially our company breaks it down in 3 steps

1. Test market and research the product or service and observe the data.
2. Create multiple strategies on various markets
3. Build on Strengths and reinvest into other markets