When talking about sales leads follow-up between the marketing and sales organization, two issues always come up.
The first is sales reps not following up on “pre-qualified” leads, and the second is the frustration of the sales reps while trying but failing to close the sale.
The two issues are connected. And based on the quality and the natural evolution (ripening) of the lead.
Why Don’t Sales Reps Follow Up Sales Leads?
Having worked in sales for a relevant part of my career, I think I know the main reasons why follow-up is far from being optimal.
Variability Of Lead Quality
One of the reasons why sales reps do not follow up is that: in many companies, the quality of lead is extremely variable because frequently, there is no standardized process to collect and pre-qualify leads.
A typical situation when leads are collected includes congresses, courses, and other activities with customer interaction- where at the company’s booth, various individuals collect leads without following the same process and produce extremely diverse sales leads from good to very bad.
Therefore, when the problem of collecting and pre-qualifying leads is addressed, no matter how much effort the marketing and sales organization puts into delivering high-quality leads, most sales reps are convinced that company leads are poor and don’t follow up.
Unrealistic Expectations
When sales reps follow up pre-qualified leads, they expect an unrealistic success rate.
For example, out of 10 “pre-qualified” leads, you can expect that 50% will eventually buy from the company or a competitor, and 50% will not buy for various reasons.
Considering the sales reps closing ratio of 20%, the sales rep will have 5 opportunities and expect to close only 1.
These numbers are assumptions though representing reality, highlight two problems for the sales reps; first, the effort to follow up the 10 leads to realizing “just” 1 sale, and second, the time requested to turn the lead into a sale.
Normally, the sales rep tends to overestimate the effort and underestimate the time to follow up, and the results are good excuses to stop following up pre-qualified leads.
Ultimately, the wish of a sales rep during a sales lead follow-up is to spend his days closing sales-qualified leads without any effort.
Why Are Sales Reps That Follow Up Leads Frustrated And As A Result Stop Following Up?
The frustration of the sales rep in a sales lead follow-up is linked to the process of “ripening” of the lead.
The prospect interacting with the company can be anywhere in the buying cycle, from the awareness stage to the decision stage.
Most prospects need to be nurtured along their buying journey with useful information and other activities until they have educated themselves and know, like, and trust the company and the sales rep.
Unfortunately, many sales reps do not understand or have the patience to cultivate the lead and transform it into an opportunity.
An unripe lead can look like a poor lead; The prospect is not ready to buy yet; not focused, and often doesn’t want to set up an appointment or define the next steps.
It’s easy to assume the individual is not interested in the product and not seriously involved.
Typically, the sales rep, upon the initial contact with the prospect, offers information very specific to the product: like product brochures, pricing, supporting studies, and even demos and product tests.
This approach is too fast for an unripe lead.
In fact, it’s worth noting that this is no different from dating. As your chances of getting married after the first date are very very low. And nobody will propose at the end of the first date.
So, why should it be different with a prospect?
Alternatively, product brochures, pricing information, supporting studies, should be available for the sales reps and on your website. However, other information that more closely matches the prospects’ needs according to where they are in the buying process is what will move the prospect through the sales funnel.
Generally, the worst thing a sales rep can do with an unripe lead is trying to close the sales and if, not successful, throws it away.
What Does This Mean For Marketing And Sales Leaders?
Marketing and Sales leaders have to work closely with the sales force to ensure they understand how leads evolve, become opportunities, and sales.
They need the sales force’s buy-in to keep following up on leads so that together they can get an idea of the quality and how leads perform over time.
Marketing should create content (articles, case reports, case studies, ebooks, and white papers) for prospects; that reflects their buying journey stage. And this material should be disseminated through different channels and provided to the sales force for informative follow-up.
Finally, keep in mind that if you don’t offer leads and prospects the information that helps them through the buying stages, you’ll rarely get to the end with them.
What’s been your experience with sales lead follow-up? Did you try to ‘get married’ after the first date with the prospect, and how did it turn out?
Let me know in the comments below, and don’t forget to subscribe.