Joy - Aug 13, 2020

Four Common Mistakes That Affect Lead Conversion

Are you wondering why your leads aren’t converting to sales like you think they should?

Here we look at four of the most common mistakes we come across when it comes to leads that don’t convert or are wasted.

1. Long Turnaround Time

As we all know, timing is (still) King in the world of sales. This is especially true for call to action and digital leads that are especially time sensitive and should be contacted within minutes of arriving. 

Evaluate your current response times to understand where the pain points are. Do you know how long a lead has been waiting? How efficiently are the leads being collected? Are there bottlenecks (including human ones) that lead to delays and inconsistency?  Are there parts of the process that can be automated?

2. Inefficient Lead Allocation

How do you decide who gets each lead? Are you able to assign leads quickly at scale, following objective guidelines and often complex statutory and internal requirements? 

Lead allocation has a huge impact on whether the deal is done. We have seen this through the results generated using our AI allocation methods. Be able to objectively select which salesperson should receive a lead based on their skills and capacity; their location if an in-person meeting is required (post-Covid!) as well as their behaviour. No feedback is feedback too and can be taken into consideration when assigning leads going forward. Some salespeople are already busy enough or not interested in the leads you are distributing - so don’t waste leads here. 

3. Poor Lead Distribution

How do you distribute the leads to your salespeople?

The actual delivery mechanism needs to make it as easy as possible for the salesperson to receive leads and give feedback. Our easy to use mobile application allows you to work remotely with notifications and workflow reminders to keep you on track. 

4. Insufficient Visibility

Do you know how many leads have been generated, assigned and worked? How long did it take to make initial contact with the lead? What steps were followed and what was the outcome?  

Real time insight is critical as it allows you to make decisions regarding the quality of lead sources, as well as the activity and training requirements of sales team members. Questions answered include the contactability of the leads (e.g. the phone numbers still work?), was the lead contacted, and the reason for a no-sale. 

Bonus - Leads not actioned are wasted

Often leads are collected, assigned, and delivered...but then no action is taken by the salesperson. Delivering leads with key details masked enables our leads management system to reassign leads when action has not been taken within a certain time. This is very useful for call to action leads where time is more of the essence. Database generated leads as well as orphan leads won’t be expecting your call so not usually reassigned in this way.  

Addressing and automating the pain points that reduce leads converting or being wasted, i.e. lead collection, allocation, delivery and reporting, allows you to scale your leads process resulting in less waste and more sales. 

Do you know that Value-Ad can solve all these problems? Our Smart Lead Management solution will make the selling process convenient and quick! Schedule a quick 15 minute chat with Andrew, and let's find out if Value-Ad can help your business.

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Written by Joy