The Black Hole of Sales Leads

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If a lead doesn’t turn into a short term sale where does it go?  Where do all those leads go that we worked so hard to gather, expending time, effort, and money at trade shows, with advertising, and other marketing investments? 

There must be 100’s or even 1,000’s of leads where someone at one time or another expressed potential interest in our product or service.  Those leads where our initial calls were not returned or the timing wasn’t right for the customer and it seemed they had no short term interest.  Typically over 80% of all leads fall in this category.

If your company is like most, these leads go into what we refer to as the,

 “Black Hole of Sales Leads.” 

A dark place here the immense gravity makes us feel that the leads have become totally worthless and spending one more dime on a phone call or email is not nearly as important as spending NEW MONEY to find a NEW LEAD that we will eventually add to the Black Hole.

As it turns out, customers purchase when they are ready to purchase and not when we are ready to sell them and not immediately after they’ve dropped a business card in your fishbowl.

At LMI360 we use ongoing lead nurturing and follow up campaigns to insure that these leads continue to hear from your company in a positive way.  Over 80% of them will eventually turn into sales for you if you keep in touch with them, or for your competitors if they happen along at the right time.

LMI360 principle 271,  never underestimate the value of the lead pool that you have worked so hard to develop.  

LMI360 principal 272, use lead nurturing campaigns to stay top of mind so you are well positioned when customers are ready to buy.

LMI360 principle 281, a new customers value is as important a year from now as it is today.

Comments

  1. Nicely put Greg; balancing the demands of continuous, quarter by quarter results and developing a long-term relationship is an ongoing effort. Enjoy reading your posts and learning how LMI does what it does!