March 23, 2012
Lead Management Software Helps B2B Marketers Visualize Profitability
By Susan J. Campbell, TMCnet Contributing Editor
The practices of business-to-business marketers vary so drastically, it is crucial to have the most efficient lead management software in place. According to a new study, nearly a quarter of firms believe that any lead is a good lead and 28 percent do not have any standards established for lead qualification.
This recent Chief Marketer report examines the study, which alludes to the fact that firms could care less about leads. At the same time, leaders play an important role in the success of agents. Roughly one quarter of companies surveyed said many goals are set solely on the number of generated leads. A third reported that their goals are based on qualified leads, while 22 percent have established thresholds set by qualified and unqualified leads.
This entire concept has room for improvement and lead management software might be the answer. One of the study's underwriters, David Cummings, said that this last batch of numbers may highlight an organization's logic when it comes to measuring leads. When implementing new technology, this shifts the perspective of qualified leads. The CEO went on to suggest that it might be a bit risky for firms to consider unqualified leads into the equation.
This theory might not hold water, but lead nurturing is a very real thing when it comes to prospects that aren't initially qualified. Less than two thirds of those surveyed said they have the necessary means to grow those unqualified leads. So there is obviously a need for lead management software within this industry setting.
Cummings says there are different schools of thought when it comes to lead management software. The survey showed that 60 percent of companies use demographic and firmographic indicators to qualify leads based on company size, industry and job title. That can go on to include videos viewed and pages while a mere 15 percent rely on firmographics alone.
Every lead management software solution has different uses, but Cummings anticipates that as methodologies and technology evolve, more multi-touch and last touch attribution will be used. To date, however, first touch remains the focus. When it comes to business-to-customer selling, the real value is in traffic. The survey showed that page views and website traffic ranked the lowest where qualified leads and total leads generated were at the top of the list.
Opportunity value, e-mail click throughs and landing page conversations were also ranked much higher.To truly drive new opportunities in the current and prospective customer base, lead management software is a great place to start.
Edited by Juliana Kenny