lead follow-up: hot, warm or cold lead follow-up: hot, warm & cold

Lead Follow-Up: Hot, Warm or Cold

Lead Follow-Up:Hot, Warm & Cold


Why Follow-UP?

• To close new sales.• To increase the amount

of repeat sales.• To qualify a database of

names for direct marketing purposes.

• To make contacts and enhance relationships.

• To establish a presence.• To get referrals.


The Lead Manager

• Accountable for seeing that leads are tracked through the sales or fulfillment cycle.

• Duties & responsibilities:– 1. Creating information gathering mechanism(s) for

leads and contacts (lead forms, contact forms, etc.)– 2. Putting a follow-up plan in place– 3. Identifying & training lead fulfillment representatives– 4. Testing lead follow-up– 5. Measuring & reporting the success of lead follow-up

• Provide incentive to the Lead Manager to make sure that measurable objectives are reached.


Qualify Leads

• Hot, Warm or Cold? How to decide:– 1. Decision maker?– 2. Urgent?– 3. Size of company?– 4. Buying influencer?– 5. Budget?– 6. Purchase timetable?– 7. Level of interest?– 8. Geographic location?


Success Measures

• Quantify! Determine a specific numeric amount:– Cost per sale – Cost per lead– Cost per contact– Number of leads

generated– Number of leads qualified


Lead Gathering Devices

• How will your organization will collect leads: – Paper forms? – Direct entry into a

database? – Scanned from a name

badge bar code? – Beamed from a PDA? – Purchasing lead lists?


Data Fields

• Which fields of data will your organization collect from prospects? – 1. Vital contact information (name,

address, title, fax, phone, email, company, email address, etc.)

– 2. Budget– 3. Buying influence– 4. Purchase timetable– 5. Urgency– 6. When/Where is a good time/

place to contact – 7. Lead Qualification Ranking:

Hot, Warm, Cold, Non-Lead


Lead Management Software

• Insist on a standard for your company's lead management software. – ACT, Outlook, Goldmine,

Uptrends or TeleMagic, Salesforce.com are a few popular programs.

• Create and publish a process for using software.

• Provide training.


Lead Follow-Up Plan

• Elements of the plan include:– 1. Initial follow-up timing: within a day? a week? a month?– 2. Initial communication device: Phone? Email? Fax?

Letter? Email? In-person?– 3. Desired result: an appointment? a sale? – 4. "Close" timing: a day? a week? a month? after five visits?– 5. Follow-up personnel: Who will follow up on leads? Sales

reps? Trade show operatives? Lead fulfillment representatives?

– 6. Lead Qualification: what elements constitute a solid lead? Is the lead hot, warm, or cold?

– 7. Incentives: how will your organization incent those responsible for follow-up?


Sales & Marketing Materials

• Use or develop appropriate sales and marketing materials for lead follow-up. These materials may include:– Telemarketing scripts– Brochures– Thank you letters– Sales letters– Promotional items


Lead Operative

• Inform the operatives of the measurable objectives and desired results.

• Outline the administrative & reporting processes for tracking the leads through the sales cycle. Make sure operatives have access and know how to use any technology that is required to enter and track leads.

• Communicate the incentive program to the operatives.


Testing

• The Lead Manager informs lead follow-up operatives that s/he will randomly test the lead follow-up plan

• The Lead Manager performs weekly blind tests of operative contact activity


Follow-Up Reports

• The Lead Manager produces regular reports that measure progress and success of the lead follow-up plan

• The Lead Manager shares reports with management and operatives.

• The Lead Manager makes adjustments to the plan to increase successful lead follow-up.

• Provide lead operatives with bonuses, commissions, or other incentives for successfully reaching objectives.

lead follow-up: hot, warm or cold lead follow-up: hot, warm & cold

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