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Managing the Lifecycle of Your Leads

Posted on Aug 21, 2008 by Kathy Rizzo, Vice President Marketing

Marketing’s responsibilities should not end when a lead is generated and provided to the sales organization. Rather, marketing departments should seek ways to impact and track the entire lifecycle of the lead until closure. TeleNet’s process to accomplish this is referred to as Lead Lifecycle Management®.

Many companies rely on reporting from their CRM system to track lead results. However, with sporadic input from sales representatives, coupled with inevitable sales turnover, leads can easily be lost or inaccurately reported.

Our philosophy is that to really take control of your leads, it’s best to implement a hands-on process for Lead Lifecycle Management®.

This process can include employing a closed-loop lead administrator. Person(s) who can actively monitor your CRM system to ensure leads are properly assigned to sales representatives and re-assigned when members of your team leave. Additionally, the lead administrator(s) should be tasked with following up directly with your sales representatives via phone and email to ensure leads are actively pursued and to gather key information such as pipeline, forecast and closure data, as well as qualitative feedback on the overall quality and type of leads provided by Marketing.

Some companies have very large channels in which leads are assigned to partners and are not necessarily represented in a centralized CRM system, thus making the job of a closed-loop administrator more challenging. In this case, the role of the lead administrators can be to follow-up directly with the prospect leads to ensure a partner (sales) representative has appropriately made contact. The call approach to the prospect is very “customer service” oriented. In cases where the prospect has not received a sales call, the lead can be escalated within the appropriate channel. This process greatly reduces the quantity of leads that are lost and helps to keep follow-up top of mind.

The key to Lead Lifecycle Management® is to develop a documented process (in most cases using human interaction) to continually track your sales team’s engagement with your leads and ultimately to determine the ROI.

Tagged: lead lifecycle management, sales lead management, lead generation, telemarketing sales lead generation

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