Leads Series Part Two: How to Handle a Lead

In part one of our series, we introduced the idea of what a lead is and why they matter. But what do we do with leads once we get them? While it might seem like the hardest hurdle is getting leads, the reality is that’s just the tip of the iceberg. From there, it’s our job to make sure each lead is connected with, managed, and executed.
 
If you’re an entrepreneur working by yourself, moving the ball forward with a lead will rest solely on you. It will be your job to connect with your client, figure out solutions, negotiate services, and set prices. You’ll run the entire process yourself from start to finish.
 
But if you’re working with a larger team, things work a little differently.
 
Lead Assignment
​For people with larger teams, decided who is in charge of which leads will become a crucial part of any process. Most leads will generally be evaluated for ownership by sales/marketing management. As a rule, they’re assigned by territory, state, and salesperson.
 
Depending on the scale and scope of your business, that will all either be handled interpersonally or digitally. Once the lead has been assigned to a salesperson, they will be loaded into a marketing automation tool (like IBM Watson) and then a customer relationship management system, or a CRM.
 
Whether your CRM is automated software or a system of your own design, you should follow the following basic action steps.
 
Actions Step for New Leads

• All new leads must be contacted via phone or email 3 times within 45 days and logged in CRM as an activity
• The goal is to Qualify/Disqualify a lead based on BANT rules.
  • BANT: Budget, Authority, Need, and Timeline
• If the lead/contact does not respond or you are unable to obtain BANT please disqualify the lead in CRM.
  • When disqualifying a lead, you must list the reason i.e. Cannot Contact, Lost, No Longer Interested, Canceled in the CRM.
• It is always important to obtain as much information as possible when contacting a lead.  For example:
  • Areas of interest or that are specific to your business
  • Project description and requirements
  • Full contact information including job title, phone number, and email
  • Competitive information
• If the lead is qualified, you must change the “Topic” (Lead Name) and update its status in CRM. Note:  All qualified leads that are marked as Qualified in the CRM will automatically be converted to an Opportunity. Log all activities in CRM.
• If you have an existing client who has presented an opportunity you may bypass the Lead Stage and create and the Opportunity directly.

 
Gathering information is one of the most important steps when it comes to gathering and working with leads. The more information on a client and their concerns we can collect, the more effectively we’ll be able to provide them with quality service.
 
Tune in later this week to learn more about what information to gather and how to create more opportunities for future leads.