Do you need more or better leads? Most sales organizations would answer “both!” Unfortunately, the lead sources and lead types that generate the most leads don’t necessarily produce the highest quality leads. For the purposes of this discussion, let’s assume leads that produce the highest close rates are the highest quality leads, and leads that generate the most unique prospects are high quantity leads.
Lead management in the manufacturing industry comes with its own unique challenges. If you’re a marketing or sales executive in this space, you understand how difficult it is to ensure your dealers are following-up with the leads you provide and nurturing them to a sale. Unfortunately, statistics show that 44% of salespeople give up on a prospect after the first follow-up, while 80% of new sales require at least five follow-up calls before making a decision. These common lead management/follow-up issues can be solved through education and sales training programs, but it’s not the only tactic you should rely on. If you implement these simple lead management strategies at the brand level, you will start to see immediate improvement in your sales process.
By now, you have probably read countless articles about the importance of content marketing and the role it should play in your marketing strategy. And if you’re like a lot of brands, you may not have a formal content marketing strategy in place or know where to start. In fact, according to research from the Content Marketing Institute, only 30% of marketers think their organizations are effective at content marketing and only 18% had a formal document outlining their content marketing plan.
Email is the most common way to nurture leads, mainly because you can fully automate, customize, and segment your emails so that they are as relevant as possible. If you’re using email for lead nurturing, you probably already have information about certain characteristics and behaviors of your prospects; therefore, you should develop content that marries well with what their interests are at different points in the buying cycle, or based on what got them on the list in the first place.
That’s right! Recent studies have shown that increasing customer satisfaction and retention rates by 5%, can help increase profits by 25% to 95%. And if you think these numbers are a stretch, just ask our clients how they have increased sales and brand loyalty with our proven marketing automation and customer satisfaction measurement platform, Aimbase.
In today’s digital world, your customers are researching and making purchase decisions without stepping foot into a dealer’s location or talking to a salesperson. It’s projected that by 2020, 85% of customers will manage their entire relationship with a brand without talking to a human (Gartner Research). This shift in the customer journey should not only have you evaluating your content marketing strategy, but it also calls for an evaluation of your most valuable salesperson – your website.
Really, the key to any successful relationship in life is trust. In business, trust is what guides the decision making process and is ultimately what builds the foundation of a positive working relationship. From a manufacturer’s perspective, building trust with your dealer network should be an important initiative for your brand, as it’s the key to a solid sales partnership that benefits both parties.
With a powerful tool like marketing automation, sales reps find themselves with a wealth of data and information at their fingertips (who their prospect is, their interests, their web browsing habits, their pain points, etc.), and it’s crucial to know how to use this information effectively — without being creepy.