Optimizing Lead Generation

Challenge
As CSOs and CMOs realize they need better ways for company salespeople to achieve higher conversions, their need to optimize lead generation increases. CSO Insights, a sales research firm, recently completed a Sales Performance Optimization study to compare a series of key sales performance metrics to those used by 1,275 firms surveyed worldwide. The study found that companies excelling at demand generation program management – the art of clearly identifying a lead, delivering the targeted message to the prospect and tracking all activity to better understand the process – had higher conversion rates with more salespeople meeting their quotas.

Solution
Companies that succeed in helping their salespeople reach targeted goals tend to add additional sales reps, implement training programs, enhance marketing programs and apply CRM systems, the study found. While many of the surveyed firms aspire for lead generation optimization, most show that they use the standard sales funnel for a direct impact on overall revenue.

Techniques/Implementation
There are numerous options to consider for companies that want to increase sales performance. Firms that excelled at lead generation optimization in CSO Insights’ study (less than 9% of those surveyed) were more effective at cross-selling and up-selling, introducing new products and selling value to avoid discounting. In fact, lead optimization stands out as a vital sales effectiveness initiative. Dealing with this challenge will soon not be an option. As soon as any vendor in a marketplace successfully solves this problem for their sales force, they will raise the bar for all the players to match, or face becoming uncompetitive. Two key techniques for lead optimization are: * Implementing demand generation optimization technology that integrates marketing automation and program management, allowing the management of all aspects of your various campaigns; direct/digital mail, events, web site visits, broadcast/print/web advertising, etc. * Integrate the demand generation system into an existing CRM framework so that you can easily pass qualified leads on to sales and track the disposition of those opportunities.

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