Tom Burton breaks down how to fix the lead black hole with a three-part strategy: collaborative lead management for visibility and accountability, smart lead nurturing to automate sales-ready leads, and lead intelligence to predict outcomes. Implementation can be low-cost.
So what is the solution to the black hole lead problem? The answer revolves around incorporating a lead to revenue strategy and solution in your business. Lead to revenue simply refers to the actions, techniques, processes and tools that a business takes to turn a lead into a paying customer and revenue. A lead to revenue solution consists of three interrelated areas Collaborative lead management, smart lead nurturing and lead intelligence. The first layer, collaborative lead management, simply means all incoming leads are properly logged and that there is collaborative visibility, accountability and lead tracking across the entire lead lifecycle. With all the stakeholders and sales partners involved in converting a lead to revenue, Smart lead nurturing makes it possible to automate the process of creating sales ready leads and providing real time visibility into a lead's journey to sales readiness. Finally, a lead intelligence solution leverages the information, data and analytics from lead management and lead nurturing to provide much greater insight and prediction into the sales and lead conversion process. The bottom line is that the implementation of a lead to revenue solution that includes these three layers can virtually eradic the black hole lead problem and drive significant new revenue and growth into your business. And the good news is that the implementation of a lead to revenue solution does not have to be costly, risky, complicated or time consuming.
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