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Are You Wasting Money On Lead Generation?

By August 23, 2014May 29th, 2021Blog, Technology News

community-231632_640The two biggest mistakes that companies make when it comes to lead generation are first that they tend to rely more on intuition and gut instinct rather than raw data, and second, that they generally take a shotgun approach to leads, on the thinking that their approach will hit something and bring home a few leads. Unfortunately, these errors tend to magnify each other, making them worse together than they are on their own. Your instinct tells you to fire a shot in one direction, so you turn and pull the trigger. Maybe you hit something and maybe you don’t, but you’re likely to keep firing anyway, because that’s what’s worked in the past.

There’s a better way. Here’s how to take your lead generation to the next level.

Audit Your Campaigns

This has got to be a first. Take a look at what you’re doing, and evaluate the campaigns next to each other. Pitch your lowest performing campaigns over the side, and focus on the ones that actually seem to be working. The rest of the steps that follow will be all geared toward improving the results of your surviving campaigns, and you’ll have both the time and the resources to devote to that by getting rid of the campaigns that are delivering underwhelming responses.

Data Driven

Ultimately, we’re going to be talking about lead scoring, but in order to do that, we’ve got to get away from gut-scoring. Any scoring that is to be done must be done on the basis of hard data, and that data must be fresh. You need to conduct a current customer demographics study, then begin systematically capturing that data with every sale you make so that the demographics data updates itself, going forward.

Come To A Consensus On Lead Scoring

Whatever CRM you’re using, if you don’t come to a firm, clear consensus on how to score leads, then your people are going to revert straight back to going with their gut instinct the moment you take your hand of the tiller. See that this doesn’t happen by getting them to agree with what, precisely, makes a high scoring lead.

Iterative

Your scoring system cannot be a one and done process. It has to be an iterative, ongoing operation because in the first place, you’re not going to get it right on the first try, and in the second, your customer demographics information will be changing and evolving over time. As it does, your lead scoring needs to be adaptive enough to accommodate those incremental changes and whatever that evolving data reveals needs to be reflected in the actions your sales team takes.

The end result of these changes will be a focus on quality over quantity. You will likely wind up generating fewer leads, but as you refine your system, you will see an increasing percentage of them result in sales, which is ultimately the goal. If you’re in the business of collecting lots of low quality, non converting leads, by all means, stay your present course. On the other hand, if you’re in the business to sell your product, focus on quality, not quantity.

Jason Manteiga

Jason Manteiga

Jason J. Manteiga, Vice President of Olmec Systems, has been part of the company for over the past 20 years. He believes that having a great work environment and supportive team, is the ultimate key to success. Since being in the IT realm for over 25 years, Jason, along with Olmec Systems, has been on the Inc. 5000 “List of America’s Fastest Growing Private Companies” and Channel Futures MSP 501 “Top Managed Service Providers in North America,” along with other awards and nominations. Jason earned his Bachelor Degree in Information Systems from the New Jersey Institute of Technology. He also holds certifications in Microsoft MCSE, VMWare VCP, and Cisco CCNA. In his spare time, Jason is a contributor for The Center for Social & Legal Research (Privacy Exchange) and a member of the Morris County Chamber of Commerce. His hobbies include cycling and kayaking. He currently lives in New Jersey with his wife, two daughters and son.

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