15 Reasons Why You Should Be Using Proper Lead Management
Over the past 15 years I’ve worked with different companies and many CRM (Customer Relationship Management) software systems to help establish proper lead management. Often times sales reps and upper management haven’t utilized a strong lead funnel with proper automation and drip marketing. This is in part because there is a lack of knowledge and understanding on, 1. how to implement such a system and process, and 2. how to maintain and manage it until it’s perfected.
Here are 15 strong statistical reasons why you should implement a lead management strategy. Let me note that having the right CRM software can make all the difference.
1) Companies that excel at lead nurturing generate 50% more sales ready leads at 33% lower cost. (Source: Forrester Research)
2) Nurtured leads make 47% larger purchases than non-nurtured leads. (Source: The Annuitas Group)
3) Companies that automate lead management see a 10% or greater increase in revenue in 6-9 months. (Source: Gartner Research)
4) 46% of marketers with mature lead management processes have sales teams that follow up on more than 75% of marketing-generated leads. (Source: Forrester Research)
5) 25% of marketers who adopt mature lead management processes report that sales teams contact prospects within one day. Only 10% of marketers report the same follow-up time without mature lead management processes. (Source: Forrester Research)
6) Companies with mature lead generation and management practices have a 9.3% higher sales quota achievement rate. (Source: CSO Insights)
7) Relevant emails drive 18 times more revenue than broadcast emails. (Source: Jupiter Research)
8) Personalized emails improve click-through rates by 14%, and conversion rates by 10%. (Source: Aberdeen Group)
9) Event-triggered marketing can potentially save 80% of your direct mail budget. (Source: Gartner Research)
10) Lead nurturing emails get 4-10 times the response rate compared to standalone email blasts. (Source: SilverPop/DemandGen Report)
11) Lead nurturing emails generate an 8% CTR compared to general email sends, which generate just a 3% CTR. (Source: HubSpot)
12) Lead nurturing emails have a slightly higher unsubscribe rate (1%) than individual email sends (0.5%), indicating their effectiveness in removing unqualified leads from the sales funnel. (Source: HubSpot)
13) Companies that excel at lead nurturing have 9% more sales reps making quota. (Source: CSO Insights)
14) Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads. (Source: DemandGen Report)
15) Companies that adopt a true lead management with nurturing processes, find that during down times in their industry, they excel while others suffer!
At the end of the day, one thing remains true for those that implement a strong CRM and lead management process….They will close more business!
Follow these 3 key concepts to help ensure your business is thriving, not dyeing! GENERATE – FACILITATE – AUTOMATE.
Generate: Create a strong marketing plan that you can execute on a consistent basis in order to generate qualified leads into your business.
Facilitate: The goal is to make your job easier and more effective. By implementing the right CRM software you’ll be facilitating your sales team to work more efficiently.
Automate: Automation is key! As you look to automate your processes as much as possible, you not only improve production, but you help decrease on wasted energy and time. Think outside of the box when trying to automate your processes.
Good luck on your efforts and stay committed to implementing and perfecting your lead management processes.