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Everything we know about the lead business from everyone at the Leads360 family. From online lead providers like LowerMyBills.com to Mortgage Lead Management best practices. We'll tell you what we know and what we've learned.  

How Marketing Companies Are Failing Lead Management

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Michael Ferree is an expert on online marketing and lead generation and his most recent article on imediaconnection.com highlights the necessity of strong Lead Management Systems like Leads360.

Most notable, is Michael’s reference to a Leads360 study that we conducted that shows that only 57% of lead conversion can be attributed to the quality of leads, while a whopping 43% comes down to smart and efficient lead management.  This means that success in sales cannot rely completely on one method or the other, as both are necessary to maximizing ROI and finding a systematic approach for consistent success.

The first area where lead management shows its value is in speed to contact.  Studies have shown that calling within the first five minutes will allow a sales staff to make contact with their lead 100 times more often than calling within the first half hour.  Internet leads move quickly, representing people who are actively shopping around and who will look at at least 2-3 different providers before they’re done.  The highest level of success will come from contacting that person immediately, while they’re still online and shopping, and before a competitor has reached them.  Lead Management Systems like Leads360, will increase the speed to first call for these leads and give a sales staff a much better chance of calling within the critical first five minutes.  What’s more, Lead Management Systems will also help with another key problem for teams dealing with internet leads: a failure to even contact the lead at all.  The same studies have shown that 37% of leads are never contacted even once!

The second key element that Michael explores is the number of call attempts made for each lead.  It should come as no surprise that persistence is a key element of success in converting leads, and a Leads360 study confirms that multiple call attempts will dramatically increase the chances of success.  A second call alone will increase the chances of contacting a lead by 87%.  Despite this fact, a shocking 50% of leads don’t receive a second call.  More interesting though is the fact that the metrics we collected indicate that there’s an ideal method of calling and number of calls, and calling too many times won’t increase the odds of contacting the lead.  By calling six times and varying the time of day with each call, sales teams can ensure that they contact leads and give themselves the best chance at converting.

Michael Ferree is a leader in the industry and it should come as no surprise that he’s familiar with the necessity of a solid Lead Management System.  A Lead Management System will isolate inefficiencies in your sales process and find solutions for them based on the data Ferree references.

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