Best Practice Guide to Closing Leads

A guide to creating a top lead generation strategy to increase sales

Lead Audit Results

Lead AuditLeads 50

Leads Closed 5 10%Not Interested in offer/Signed with Competitor 13 26%Interested, but never received follow up 8 16%Interested, but received sporadic follow up 19 38%Contact in 3 months 5 10%Total 50

Viable Leads 32 64%

Lead Definition

“A merchant, who is in the market to buy a product or a service and is somewhere along the buying cycle

and is willing to discuss with vendor(s).”

Blindbid

“A Lead = Future Customer” – Brian Carroll

Lead Generation Consultant and author of Lead Generation for the Complex Sale

Bad Lead

VS

Good Lead

Sales: “Any lead that can’t be sold is a bad lead.”

Response: “There are no bad leads, there are just impatient

salespeople or sales organizations.”

Types of Leads

Types Of Leads

1. Hot Lead – Quick Close – Immediate action.

2. Pending Close Leads – Leads that tend to close within a month.

3. Short Term lead – Leads that close within 3 to 6 months.

4. Long Term Leads – Leads that close within six months to a year.

5. Dormant Leads – Leads where the merchants have gone with a competitor or have said they are not interested.

6. Dead Leads – leads where the merchant went out of business or requested not to be contacted any longer.

Buying Cycle

&

Leads

Everyone wants the 9-12 O'clock lead. Those are the ones that close the quickest with the least

effort.These type of leads make up only a small

fraction of the leads out there.

Why you need a lead closing strategy?

Without a lead closing strategy, you’ll only close

10% of the leads. You will be like 95% of all the other sales organizations, chasing after the

low hanging fruit.

A lead closing strategy moves the merchant along the business cycle to close. You can

increase

your sales by 200% or more.

Systemic Follow Up is Critical

99% of all sales people stop calling or sending information to a prospect after the 3rd unsuccessful attempt at getting the sales process started or moving forward.

75% of all first time appointments or events with prospective buyers happen after the 4th call, email or face to face contact.

Leadpipeline Part 1

Tip: The only way to avoid lead pile up is to use a CRM efficiently.

Lead Pile Up Leads Per Month Closes Sales

Leads Per month 30

Agent 1Month 1 30 10% 3Carry Over 0Month 2 30 15% 5Carry Over 0Month 3 30 15% 5Carry Over 0Month 4 30 15% 5Carry Over 0Month 5 30 15% 5Carry Over 0Month 6 30 15% 5Carry Over 0Leads in Pipeline 0 26

Total Leads 180 14%

Lead Pipeline Part 2

Tip: The only way to avoid lead pile up is to use a CRM efficiently.

Lead Pile Up Leads Per Month

Deal Closes

Deals in 1st

Month

Carryover Close

Month 2

Carryover Close

Month 3

Carryover Close

Month 4

Carryover Close

Month 5

Carryover Close

Month 6

Total Closed Leads

Leads Per month 30 12% 6.0% 3.00% 1.50% 1% 0.5%4 2 1 0 0 0 7

Agent 1Month 1 30 4Carry Over 26Month 2 56 5Carry Over 51Month 3 81 7Carry Over 74Month 4 104 10Carry Over 94Month 5 124 12Carry Over 111Month 6 141 15Carry Over 126Leads in Pipeline 126

Total Leads 180 54 30%

Drip Marketing:Remain Relevant but not intrusive

A marketing strategy comprised of sending a continuous series of well articulated marketing campaigns via phone, email, letters, newsletters, and press releases.

D – DisciplinedR – Repeatable I – Interrelated P – Process

Drip Marketing by Glenn Fallavollita

10 Keys To

A Successful Lead Generation Campaign

10 Keys to a successful lead generation campaign

• Sustain Calling - It may take 8 to 19 calls to reach a decision-maker.

• Make every call count by building relationship and credibility. Three types of contacts. Sales, Educational, informational.

• Be persistent – it may take 15 to 30 contacts (phone, email, fax, letter etc.) to close a lead.

• Throw out the scripts. You want to position yourself as an expert in the industry and build trust.

• Always be relevant- Valid reason for calling and desire to help.

10 Keys to a successful lead generation campaign continued

• Gain Opt-in for email and even faxes.

• Always follow up. Keep follow up calls brief. A minute or less.

• Be prepared with a unique selling position. Make your offer stand out.

• Superior Value vs. Perceived value

• Update your CRM after every contact. Track your progress.

Lead Closing Tips: Email Topics

• Sales – why the prospect needs to buy from you and why now. Add Urgency: Free offer or 50% offer until a specified date.

• Informational – Your company newsletter. New product or service your company is offering now. Ask your prospect to “like” your facebook page.

• Educational – Industry news. How new technology affects small merchants. How new legislation impacts your prospect. The Durbin Amendment.

The Goal: All the emails should move the prospect towards the close by building the relationship through credibility and trust.

Lead Closing Tips: Email Frequency

Neiman Marcus sent 500 emails to their customers last year. That is 1.37 emails per day. That is way too much. Do not over saturate your prospects. Be relevant but not intrusive.

Lead Closing Tips: Email Frequency 2

Emails

1st MonthNumber of Emails

1st Week 32nd Week 23rd Week 24th week 2

2nd Month1st Month 21st Week 22nd Week 23rd Week 24th week 2

3rd Month1st Month 11st Week 12nd Week 13rd Week 14th week 1Total 24

4th -12th Month 2

Lead Closing Tips: Calling Tips

Three Topic Rule:

Sales: I’m calling to follow up on the application I sent you yesterday and to answer any questions?

Informational: I wanted to let you know about our facebook page? Can I send you a copy of our newsletter, it is full of great small business tips.

Educational: I’m just calling to let you know about how the new federal legislation will impact your business. As a courtesy, I’d like to send you our whitepaper about it.

Lead Closing Tips: Calling Tips 2

Keep Follow Up calls brief. 1 minute or less. If the calls go on longer it should be because the prospect is continuing the discussion.

Best Times to Call: 8-9 AM, 12PM – 1PM, 4-6 PM during the prospect’s time zone. Not yours.

Time Allocation

Most sales organizations allocate 90% of their time on hot leads and 10% on everything else. More time

should be allocated to other categories of leads to push

them along the buying cycle. Remember that hot leads are only about

10% of your leads.

Time Allocation

You may have the best product in the world, but if no one believes it, you won’t sell.

The buyer’s view - Make him see what you see. It’s a matter of perspective.

Credibility is the way to gain buyer’s buy in. You establish credibility through trust and knowledge.

Be an expert in your field.

Perceived Value and Credibility

QUESTIONS

Contact Information

Blindbid.com17690 Grama Ridge Rd

Colorado Springs, CO 80908

562-546-3243Fax: 888-792-9696

support@blindbid.com

Best Practice Guide to Closing Leads

A guide to creating at top lead generation strategy to increase sales