smart selling approach-3
Quality lead generation
Setting the climate for quality lead generation- smart selling 3
Setting the climate for quality lead generation first and foremost involves Goal setting for the generation of quality leads.
Quality lead generation – explanation
For example just for a matter of discussion, let us analyze your climate for quality lead generation, with a scenario.
Let us assume a situation of drop in sales. why the sales have come down. ? One valid input will be you don’t have a quality lead to convert, How will you answer this across, or validate.
You should know from your past History, what is your received lead count, and how many have been converted into Project or site visits.
This is called Lead to SV ( site visit by the prospect for understanding the product before buying) conversion ratio. Out of this SV, How many you were able to convert into actual sales. ( selling efforts to convert into sales from SV )This gives a ratio of site visitors to a Booking conversion ratio.
Quality lead generation – basic indices and ratios
For example, you have 200 leads, and out of this you were able to invite the prospects and converted the leads to 20 site visits, and converted 2 sales eventually out of this 20 site visits.
This means ,your lead to site visit ratio is 10% and site visit to Booking ratio is 10 %. (20/200=10%;2/20=10%)
Now you want to set the climate for quality lead generation, where your boss wants you to do 10 sales, then you calculate backward and say you need to have 100 site visits and 1000 Leads to flow into your funnel.
The most important aspect here is you need to watch your ratios periodically. Obviously, when you are able to convert More site visits and more sales from your incoming leads, This means your Lead quality is improving as well as your conversion skills are getting sharper.
Obviously when I say you need to watch your ratios, sometimes your efforts also can come down in a tough market and you may result in Low sales numbers.
you need to improve your efforts also.
This is the first step in setting the climate for quality lead generation.
sounds interesting, let us go deeper into this for setting the climate for quality lead generation and How does the role of marketing improve these ratios .stay tuned.