The Slow Burn
Getting the highest return on your leads means closing as many leads as possible. This fact might lead to the conclusion that in order to close more leads, a sales rep needs to have more leads assigned to him. And if that solution is implemented, there will probably be an increase in closes. Not close rates, but actual closed deals. So if no one looks too closely it looks like the problem has been identified and solved. But it hasn’t. In order to get the highest ROI on your leads, it is necessary to increase close rates, i.e., lead spend remains constant, but more deals close.
Sales reps tend to rush to the new leads and cycle through them; working to indentify the quickest close. This is normal human behavior. In any given situation, only one thing can be designated the “most important.” And for a sales rep, the “most important” thing is the hottest, ripest lead. So a sales rep works through his leads looking for the ripe ones, and focuses on them. The problem with this is that only a small minority of leads are ripe, quick closers.
But if you ask most sales reps about their pipeline, their mind will focus on these “most important” leads. You’ll get information on this small minority of leads which are riper, quicker closes. This pipeline conversation will ignore the fact that there have been many more leads assigned to this sales rep which are effectively being ignored; ignored because the human mind can only focus on so much at one given time.
Here is a little thought experiment. Imagine a forest fire. Picture the blaze spreading through the forest. The burn line leads the way with the most intense blaze. The burn line gobbles up all the quick burning fuel; i.e., brush, leaves, dead wood, etc. The burn line is the most intense part of the fire and it is constantly moving, leaving behind the less intense flames to chip away heavy, solid tree trunks.
Those less intense flames take time but they pull down the trees one by one. These less intense flames are natures drip marketing campaigns.
Sales reps are going to focus on their ripest deals. This can’t and shouldn’t be avoided. But It is no longer necessary to ignore less ripe leads in favor of riper ones. Using a lead management platform with marketing automation features it is possible to remain in contact with these leads. Using drip marketing campaigns, sales reps can stay in touch with leads automatically. It doesn’t require that they take their focus off of the quicker closes. Drip marketing campaigns that provide relevant content establish trust and build brand awareness.
Using lead management empowers sales reps to give attention to prospects who are slower to convert without requiring them to take their focus off the quicker closers.
