Recently, LeadCritic posted an article regarding the enormous growth in the For Profit EDU sector, and how although business is good, forward thought and preparation is going to be very important. Like LeadCritic mentioned, with access to internet ever increasing coupled with the fact that the work force is actively looking to get ahead and stand out, growth is moving as fast as a freight train.

From our vantage point at Leads360, we have watched the industries we serve experience the same lifecycle again and again. We know all too well how the Mortgage industry was effected and especially know how quickly things can go from good to bad, and then to worse. Over-saturation is a common fear in growing industries, and smart companies know that even when potential business is booming, they need to prepare to weather the times when it isn’t. Companies should embrace the bountiful period, but never take anything for granted.  The point of this warning is not to scare anyone, but to bring about a call to action. This cyclical nature can be looked at as good thing, de cluttering said space, and allowing for the survival of the fittest.  The separation of the “men from the boys” can allow companies who have prepared and are following best practices to establish themselves as industry players, and can create an environment for them to continue to grow and flourish far down the road. The keys for this preparation are fairly obvious. Make sure your company is not fooled by the tremendous growth by letting standards slide. Be sure to contact leads quickly and concisely, don’t allow for precious leads to be stranded by the wayside, and utilize current technology to stay ahead of the curve. Although you may find some things unnecessary at the moment, teaching your sales force how to embrace new technology before the storm, allows for an easy transition when your company needs it most. Take heed, but enjoy the ever expanding market.

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.

Traditionally there are four stages of the buying process that prospects must go through before they become customers; they are: Awareness, Consideration, Research and Purchase. As B2B, and to some extent B2C, marketers, we must do our part to help prospects navigate the chaos they are likely to find in each of these stages. The more effective we become at guiding prospects through this process, the more likely they are to become our clients and not our competitors’ clients.

The first stage, awareness, may at first seem like a piece to the puzzle that we have no control over. We think the prospect themselves must come to the realization that they have a need. This of course does happen sometimes, but we do ourselves a disservice to not try and get involved early on. Think of it, if your company is the one that helped the prospect have the “ah-ha” moment, when they realize, wow, here’s my problem and I need to find a solution to it. That’s powerful. To be effective at this stage you have to throw a wide net because prospects need to find you that aren’t really looking for you.  You need to show up in places they are already at. You need to create and distribute content that is useful to them. You must become a voice; one that they just happen upon.

Once a prospect is aware of their need they start to think about solving it. They may consider a whole suite of solutions, from doing nothing or building something internally, to finding a partner or buying a competitor. The possibilities are endless and it’s your job to stay top of mind and help prospects understand the pros and cons of each path. You’ll need to decide how pushy you want to be at this stage. If you already have a communication channel opened, you can push hard and try to convince them they want to look at solutions like yours. Or you can be more passive and let them figure it out for themselves. Our experience is that the latter works better. Ultimately you may lose a few more deals, but those you get tend to stick longer. If you’re in the business of retaining customers like us, that becomes pretty important. If you just sell widgets one time, well, maybe not as crucial.

At the third stage the prospect probably has narrowed down the types of solutions that they want to look into. They begin searching for solution providers like you to help them. Hopefully you nailed it in stage one and two and they’ve already reached out to you. Don’t worry if they contact your competitors too, in the long run this help because your competitors reinforce the need for a solution like yours. As long as you have good competitive intelligence and a smart sales process, you should be able to win those deals (that may be a topic for another post). Now, as prospects consider you and your competitors you must help them realize value. We do this with a business case to help them see if working with us is going to be a fit; in other words, will it be a win-win relationship, because if it’s not, then someone is going to lose and that doesn’t work.

The final stage is purchase, woohoo! Yes, here is where you make the money, but don’t forget this is also the stage the client gets a problem solved. If you are solving their problem from stage one, then you shouldn’t have to give your product away. You’re providing value and that’s worth something. Part of your value may be your price. Maybe you offer a cheaper solution than your competitors. Or you might have a better product with more comprehensive service and you charge more for that. Whatever your strategy is, stick to it. Finally, remember to deliver. Too often deals are closed then companies forget to give the client what they sold them. Sounds sill, but it’s all too true. They are on to the next sale. Incidentally, if you’re on a “buyer” reading this post, don’t forget to ask about that. Ask the sales person, how do you ensure you give me what I’m buying from you? They better have a good answer for you.

As a buyer going through all this, it’s a useful exercise to assess where you are at in the process. This post is written for the sales and marketing professionals, but the insight is as useful to buyers as much as it is to sellers.

Here at Leads360 we talk an awful lot about leads.  How important they are, how to generate more, how to close more, etc. Sometimes we forget that leads are actual living breathing consumers just like you or I. Dealing with so many of these leads, one thing we have really learned is the importance of consistent follow up with a “personal touch.” One major flaw may companies have made, and continue to make, is the lack of personalized nurturing that leads respond to. Obviously maximizing efficiency is paramount in any type of sales industry, but with the current technology available, your business can have rapport and efficiency, which is by far, the best of both worlds.  Something as simple as consistent personalized email follow ups – as opposed to just generic blasts to your prospects- can mean a world of difference.

We have done a lot of research about following- up with personalized consistency, and our hypothesis was more than proven. After looking at over 15,000,000 leads we found that:

“40% of leads close eventually, with consistent long term follow-up.”

Our own sales team views each lead through the eyes of a gardener. They “plant the seed” through initial contact, then “water” the lead by nurturing it, and finally after making sure they have done everything they can, hope it “blooms” and converts to a sale. This may sound cheesy, but when you take this approach, you are following proven best practices that can only do one thing, help you succeed.

Here are some tips that both Leads360 users, and our own sales team find helpful:

• Varying Format – Because different people respond to different kinds of communication, you want to alter the type of contact you make. Newsletters, personal notes, relevant articles and follow-up calls can all work well in combination.
• Adding Value – Effective lead nurturing comes from being consistent and relevant. Use lead nurturing to distinguish your organization as a provider of value and you will create the relationships that result in increased sales over time.
• Keep it Simple – People want “snack size” bites of information. Short and consistent communication will keep you top of mind, and ensure your leads actually read or hear the message you send.

Maximizing ROI of generating leads is essential to any successful business, especially when utilizing expensive internet leads.  As companies scramble to find the best methods of squeezing every last drop of value out of their leads, it’s important to remember that a solid lead management system is often the key to managing these leads properly.  Jeff Solomon, one of the founders of Leads360, has laid out the Three Key Drivers to Lead Conversion.  By focusing on these three drivers, any sales staff can begin to convert more of their leads and dramatically increase profitability.

Speed: The first key driver is speed.  There are plenty of Metrics that indicate just how important speed is to the sales process.  The early bird gets the worm, and the first salesperson on the phone with a lead will usually get the sale.  Research has shown that 78% of leads will close with the company that contacts them first.[1] Furthermore, leads are 22 times more likely to convert if they’re contacted in the first five minutes.[2]

Sales Process: The second Key Driver to Lead Conversion is sales process.  Consistent success in sales, demands a repeatable and clear sales process that can be easily tracked and adjusted by sales managers and marketing executives.  By approaching every lead in the same manner, you’ll find that it’s easier to identify the metrics necessary for maximizing your ROI.

Persistence: Persistence is another Key Driver to Lead Conversion.  Most leads won’t even be contacted on the first attempt, let alone closed.  As a result, a solid sales staff will know to keep the pressure on and make as many calls as necessary to contact a lead, and ensure that every opportunity has been taken to convert it.  Leads360 studies have shown that a whopping 93% of leads are contacted after the 6^th attempt, while only 39% are reached on the 1^st call.[3]

By following these Three Key Drivers to Lead Conversion, your sales staff can begin to focus their efforts and really start to see results.

[1] First to Call: Why You Can’t Afford to be Second; Leads360 Whitepaper, June 2008

[2] Click to Dial Study; Leads360 Whitepaper, November 2009

[3] Six Calls Equals Success: The Surprising Impact of Call Frequency on Lead Conversion; Leads360 Whitepaper, November 2009

In the ever-changing world of sales and marketing, it’s comforting to know that some approaches  and best practices remain relevant and unchanged.  Leads360 founder Jeff Solomon’s Seven Universal Rules to Sales and Marketing provides seven universal factors that aim to help maximize your sales and convert a larger portion of your leads.

The Seven Universal Rules of Sales and Marketing are as follows:

1. 1. Speed of Sales Process
2. 2. Number of Decision Makers
3. 3. Simplicity of Buying Process
4. 4. Quantity of Leads
5. 5. Role of Emotion
6. 6. Value of Sale
7. 7. Uniformity of Offer

In any sales situation, all seven of these factors must be addressed and you should ask yourself: where do I fall in each of these categories?  In particular, the differences between B2B sales and B2C sales are laid bare by these Seven Rules.  B2C sales are fast, where B2B are slower.  B2C involves one or two decision makers, where B2B will often have multiple people and departments involved in the decision making process.  The simplicity of the buying process is much easier in B2C sales than in B2B sales.  B2C involves many more leads than B2B sales.  B2C sales can often be closed with emotion, where B2B sales rely more on logical appeals.  The value of an individual sale in B2B will be far greater than those in B2C.  Finally, B2C offers will be much more uniform than B2B offers.

None of these rules are hard and fast though.  For every situation, whether it is B2B or B2C sales, it’s important to think of the Seven Universal Rules as being on a sliding scale. Once understood, the key to sustained success is understanding where you stand in each case.  Some small business sales will more closely resemble B2C sales than B2B sales when you consider the Seven Universal Rules, while other B2C sales might be on a scale where an approach that more closely resembles B2B could be more effective.  Whatever the lead, it’s important that you understand where your business is so that you can find the most effective approach to increasing your sales.

Most companies have already done the math to figure out the monetary value of a lead. They have determined how many leads it takes to obtain a sale and what’s the most they are willing to do for a lead. However if leads are the life blood of your website and business, than you realize there is more to a lead then just monetary value.

If leads are down, sales are down, company moral is down, business is down and everything in turn starts to take a toll.  Alternatively, if leads are coming in and sales are closing, your business is successful.

This is why we must treasure every lead generated. We need to secure our best lead sources and properly track the status of each and every lead from source to sale. Our Call Attempt Study helps you understand why you should contact your leads more often. Our lead management software can help you manage leads and can automatically sort and route leads for you. We also have lead management videos and webinars to help encourage you to track every lead, good and bad, as well as teach you how to convert more leads to sales.

If leads keep your business running, than managing them efficiently and diligently will not only increase your overall conversion rate and ROI, but improve your overall business’ success and future.

Just as mortgage brokers generate loan modification leads and search engine optimization companies generate marketing leads, education institutes and universities have to generate enrollment leads. Every year schools and universities spend millions of dollars promoting various programs offered throughout the year. The majority of those dollars are spent on lead enrollment forms (students that are interested in a particular program filling out a questionnaire or information request form).

Universities generating leads for brochure mailings or for education enrollment specialists could greatly benefit from having an efficient software that can assist in enrollment marketing and management goals. A lead software can help convert more leads, and in turn increasing the possibility of filling up classes.

Here are some very interesting tasks a proper enrollment management software can do for your school.

•    Sort through leads based on programs selected
•    Assign leads to different representatives
•    Recognize geographic location of your lead
•    Track origination of your leads
•    Create easy forms for potential students to fill
•    Distribute and prioritize leads based on form entries
•    Export/download leads in various formats
•    Automatically reply to potential students
•    Track and analyze leads entries
•    Capture the student lead while they are still interested
•    Identify fake leads and highly valuable leads
•    Receive instant emails as soon as lead is generated
•    Sort, filter and route leads based on demographics
•    Update you on the status of each and every lead

To top it off, you can do all this automatically within 1 software interface provided by Leads360. Try out our enrollment management software for free here.

With so many tasks in the work day it’s sometimes hard to prioritize which tasks are most important and which tasks can be pushed aside. If you are a company that generates leads for sales, you could be overlooking some very valuable yet time consuming tasks such as distributing your leads, sorting and filtering through leads generated through marketing, and assigning them to various salesmen or projects.

Without an organized plan your company could be loosing leads, wasting your time on invaluable leads or handling your most valuable leads wrong.

Choosing a sophisticated lead management software that has the ability to automatically assign and send leads to various departments based on any field provided in your form can save you time, improve the efficiency of business flow and increase your ROI.

Just imagine your cluttered email box of leads, how many leads you missed and how many dead end leads you wasted your time looking through. Imagine how great it could be to stop the process of printing huge lists of leads and manually going through these lists line by line. Imagine lead software that can automatically send leads that came from California to your west coast representative or send leads generated via search engine straight to your next available sales rep.

Leads360 provides the most innovative lead distribution and lead routing software that can make your whole lead generation to conversion process more efficient and effective. Try Leads360 Lead Management software completely free for 21 days and see for yourself how simple it is to management every single lead generated.

When CRM and SaaS first started it was all about customization. Look at Salesforce.com or RightNow Technologies; both are web-based CRM software that is customizable beyond anyone’s imagination. I think this has been, and continues to be a big selling point for them. Think about it. Your pitching a powerful CRM system and you say to the client, hey, this can be customized to your exact business needs. Sounds great right? For a long time this was major selling technique for Leads360 as well. In fact, if you compare our lead management platform with just about any other B2C LMS on the market, you’ll see we have a much more configurable product.

Well its true, customization and configuration are benefits and we’ve certainly seen sales from it. But the tide is shifting and more companies, especially small and medium sized businesses are looking for pre-configured best practices. We get this question all the time; “hey, just tell me what my competitors are doing that is working and I want to do the same thing.” They don’t want to re-invent the wheel and they certainly don’t want to pay big bucks to some CRM consulting firm to customize Salesforce.com for them. This is a path we’ve been forging for some time. Not only do we give our clients best practices workflow templates to start with, but we continue to enhance the configuration based on feedback, research and analysis of what REALLY works. And believe me, some things work really well and some things don’t.

In the coming months we’ll be releasing more on this, both in terms of better templates and in the research reports we’ll be compiling. Stay tuned.