Almost Third Quarter – How Full Is Your Pipeline?
We are continually talking to CSOs about how nurturing helps drive revenue. Easy to say, but what does that really mean. How does technology and process around nurturing help fill a pipeline? As I speak to more and more VPs of Sales and sales people, I’m reminded of the potential “gold” that sits within their current CRM systems. Many of us have defined our target prospect, acquired contacts, made our outbound calls, launched our email campaigns, had a few conversations and then moved on. If you reach out 4 – 5 times for each contact and they don’t respond, time to move on. What happens to that contact or stagnant opportunity within your CRM system? Well as they say, “there’s gold in them hills.”
So how do you find the gold that’s stagnant within your CRM system? You need to create a revitalization campaign targeted at leads, contacts and opportunities that are stuck but not gone. Remember most leads that engage with your company are not ready to buy. As a matter of fact, for every 100 raw leads, only 4 – 7 are ready to buy at that moment (Meclabs). So what happens to the other 93 -96 leads after you’ve tried to contact them? Well they are still in the market, researching, evaluating, considering options, without speaking to you. Over the next year or so, they will buy from someone; the idea is to make sure it’s you. Revitalization campaigns continue to keep your company’s name top of mind in a non-obtrusive way to these stagnant leads, contacts and opportunities. It will be important to split out colder leads and contacts on one campaign and opportunities that might know your company into another campaign. The effectiveness of these nurturing campaigns is based on how relevant the content is that you send to each lead. It’s not about hard sales tactics at this point. It’s about warming them up, keeping them engaged, moving them through the process and building your company’s credibility until the time they raise their hand to speak to someone.
Revitalization campaigns focused on stagnant leads, contacts and opportunities sitting in your CRM database are a great way to jump-start filling your pipeline with opportunities. Done right with technology and process, revitalization campaigns help fill the pipe while taking very little time away from sales resources who should be selling.
(Article originally published on the LeadLife B2B Marketing blog and reprinted with permission.)
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