Imagine that you have a crop, and that crop is infected with pests. As a result, you have lower production volume, because the pest is killing some of your output. You have a higher cost of production, poor quality output, and ultimately a lower market value. These pests are affecting both the quality and the quantity of their output.
There are a few options to solve this problem:
- Increase the output, for instance, get more land.
- Get to the root cause of the issue and stop the pests for good.
The best approach is to address the quality and then move into quantity.
This applies to your sales pipeline, since salespeople face their own type of pests. For instance, there might be holes in your pipeline, but where did those holes come from? How can you proactively address them?
In a recent webinar poll, 64% of attendees claimed that lower volume of qualified leads was the biggest pest, followed by poor conversion rates.
Here are three effective ways to generate quality leads at a high rate.
1. Validate your contact data research and automate the process
Poor conversion rates can stem from many places, but one of the easiest ways to nip it in the bud is to ensure your prospecting data is valid. If you’re prospecting and the data is inaccurate or bad, then your sales team will waste time dialing bad phone numbers or receiving email bounce backs. Manual research helps validate the data before you reach out, however, manual research is time consuming. The solution is the combination of data validation and automation, in other words, automate the prospecting and data validation process. This is available now, and you can do this. You can automate the process so that you have a lot of that necessary contact information without the manual research. If it’s public domain, it can be captured and it can be fed to you.
Even unstructured (or unorganized) data can be automatically structured and fed into your CRM. Today’s technology is powerful, automated, auto-updated, intelligent and contextual. It’s available today and will help you address the manual research issue.
2. Map your targets for quality outreach
Thanks to sales automation tools like Capture and Yesware, you can start mapping that contact data. It’s not just about getting that lead list, but it’s about understanding the context of your particular target market, your particular target industries, and your particular segments. You start to understand more about the market, such as the size of the market’s universe. You can determine the subsets to target within that universe, the right messages, and where your product or service resonates the most.
This takes you from segmented to being individualized. It’s not just specific segments, for instance, you’re not just targeting CEOs in a particular industry, a particular size, and a particular geography. Now it’s individualized. This CEO is named Sally, and you can call Sally because you have her direct contact information. Even more, you retrieved that contact information in seconds, not hours. All you have to do is spend the three minutes to read the information about Sally, digest it, and get on the phone to have a meaningful conversation.
3. Increase the quantity of outreach
With the contact data research done and validated, you’re now ready to talk to known targets, and with the automation process, you’ve got more talk time. You’re spending less time researching, but you’re now equally smart, in fact, you may even be smarter because you’re more informed about the prospect. More talk time gives you a higher volume of dials. In addition, you’re prepared for your conversations, giving you both the quality and the quantity edge.
With these steps, you can achieve a high volume and high conversion. These are practices that provide both the quality and the quantity in your pipeline development practices. As you implement this approach, be sure to measure throughout. It’s important that the tools you are using also give you the metrics within the context of your CRM and marketing automation system, so that you can understand your performance and bring continuous improvement to it.
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