the prospects interested in your business in perpetuity . Thus , don ’ t sacrifice a potential long-term relationship for the sake of contact details that may prove worthless if the prospect felt pressured to give them . Instead , focus on nurturing and sustaining their interest in the company by providing useful information and products / services . Keep going until such a time they will be ready to be paying customers . After all , marketing is a marathon , not a sprint .
Convert The Leads Generated
Lead management , that involves qualification , nurturing , and conversion , is where the rubber meets the road . It is at this juncture that marketing department hands over the baton to the sales guys and marks an important point of synergy in the business . From our experience , most small businesses don ’ t handle leads properly . We ’ ve seen situations where leads fall through the cracks despite steep investments made to acquire them .
Reason ? Well , most small businesses owners do not have a proper sales unit or point person who can professionally handle and convert the leads generated . For others , they take way too long to get in touch with the leads and loose them in the process . In today ’ s market , businesses need to be agile . Any slight delay in sales or customer service will push the prospect into the welcoming arms of your competitor . So , what do you need to do ? Two things .
First , have a dedicated sales executive to qualify , nurture and convert the leads as per the company ’ s set guidelines which are generally modelled around four factors namely : need , budget , urgency , and authority . You don ’ t want to waste time pursuing unqualified leads who may not have a need , doesn ’ t have a budget , are not ready to buy just yet or don ’ t have authority to make the purchase .
Secondly , put in place systems and structures that ensures smooth management and tracking of all leads generated from marketing activities . Start by setting up a Customer Relationship Management ( CRM ) system . From the dashboard , depending on the CRM installed , you should see all information relating to a lead , including active deals , follow-up notes and dates . There are a few that are free e . g ., Bitrix and others that you ’ ll need to pay for you to use e . g ., HubSpot .
Maintain Excellent Relations With The New Customer
Previously , most business development executives were only concerned with scoring a sale and moving on to the next prospect . In an epiphany , they realized transactional style is not sustainable . Sooner or later , you will reach the end of the road . Everything comes full cycle and there is nowhere to turn to , especially in B2B setting .
The approach has since shifted from a transactional to relationship paradigm . It is much easier and cheaper to maintain a customer than acquiring a new one . You therefore need to maintain good relations with your newly signed customers by keeping them delighted and engaged . It doesn ’ t have to be grand schemes but rather simple gestures like prompt customer service , sending them birthday messages , and sharing important information regarding their industry etc . Ultimately , you will be able to increase their lifetime value through repeated sales , cross-selling , and upselling . Go beyond the sale .
Final Thoughts
Also referred to as performance marketing , lead generation is a critical strategy in customer acquisition . Platforms like Meta ( Facebook ), Google and LinkedIn Advertising have burst wide open opportunities on the digital space . However , it must be done with moderation . In a rush to acquire customers , we ’ ve seen many SMEs investing large sums of money in various lead generation tools with little or no return . Why ? Because they ’ ve failed in brand building . The recommended ratio is 60 % brand building and 40 % performance marketing .
Many small business owners would like to shove aside brand marketing and move directly to lead generation phase . But it is difficult for prospects to buy from a business they do not know . In marketing , familiarity breeds sales . That ’ s why you need to first invest in brand awareness . Let customers know and connect with your brand before trying to sell to them . Thereafter , you can do regular reminders while running leadgen campaigns from time to time .
Geoffrey Sirumba is the founder of Green Mobility Solutions , an innovative Micromobility Solutions Provider . You can commune with him vide email at : Geoffsirumba @ gmail . com .