Lead generation is all about capturing new business for your company, but you should always double-check that your lead generation efforts aren’t just generating leads without also generating closed sales. Otherwise, your sales pipeline empties out and your lead generation efforts produce a poor return on investment.In order to ensure you’re getting the best ROI possible from your lead generation efforts, you need to take a closer look at each of these four ways to improve and enhance your return from sales leads.
- Improve Your Lead Database: Whether you’re working with an outsourced lead generation firm or you’re handling B2B sales leads yourself, your first step is to understand the source of your data and improve your lead database accordingly. Your lead database should be populated only with the most up-to-date and valid contact data – but even the cleanest lists need to be reviewed and improved.
If your main source of new contacts is through purchasing lists, you need to import that contact data into your database and dial through the list, cleaning out poor data as your sales team encounters it. Even with leads that come in from marketing related demand generation programs, you need to make sure that they are legitimate leads before you hand them to your top sales closers.
Validating your lead database can also be outsourced to third-party vendors who pre-scrub your contact lists to ensure the correct company contact information is provided and that all data is up to date. The ideal partner should not only remove incorrect data, but also provide additional details – such as company size or number of employees – as needed for your sales team.
- Work Together With Marketing: Your sales team likely doesn’t handle all of your company’s lead generation alone, so it’s important that you collaborate with your marketing team to ensure maximum ROI on your sales leads. Meet with your marketing team on a consistent basis to stay abreast with how they’re working and reaching out to prospects.
Be sure to regularly sync with them on all of the channels they use, such as the company website, social media platforms, search engine marketing and pay-per-click (PPC) advertising. Also ask if they’ve purchased any contact lists for their own department or if they have a lead database of emails that they’d be willing to share with you. This way, your efforts aren’t duplicated and your company’s overall lead generation reaps better returns.
- Find the Right People for Follow-Up: Generating B2B sales leads isn’t enough if you don’t follow up with those leads in a proper and timely manner. However, you shouldn’t be putting your most experienced salespeople on the phone just for follow-up – these sales veterans are better deployed for finalizing deals and closing sales.
Instead, you need a team of sales staff that specializes in lead generation and appointment setting. Recruiting these lead generation experts should start with a hiring process that analyzes the sales DNA of each applicant. Then, each of these sales team members should receive specific lead generation training sessions – and not just general sales training – in order to maximize your lead generation ROI.
- Analyze Your Data: The final way you improve the ROI from your lead generation efforts is by constantly assessing and analyzing your specific sales program data. By reassessing your results, you understand what makes a successful and competitive contact list, allowing you to constantly improve the list to ensure the right people are being called and prospected.
You should also analyze any overall data from your industry, such as the role of key decision makers, which people are interested in being called and any common objections to your product or service. Examining these segments, objections and target markets ensures that your lead generation efforts never deviate from your best possible ROI.
In order to keep your sales pipeline full of promising prospects, your lead generation must stay on track when it comes to maximum return on investment. When you implement these four methods to boost your lead generation ROI, more closed sales and increased revenue are sure to follow.