|Lost Sales Leads: 4 Common Problems & How to Correct Them|
|News Releases - Business, Economy & Finance|
|Written by Ginny Grimsley|
|Wednesday, 10 April 2013 13:16|
U.S. businesses spend billions of dollars generating sales leads only to lose more than 70 percent of them simply because they don’t make contact quickly enough, according to one study.
But that’s not the only way they’re losing out on opportunities, says Brandon Stuerke, president of Advisors Edge Marketing (www.advisorsedgemarketing.com
“A study of more than 600 companies by Dr. James Oldroyd of MIT found that the odds of a lead entering the sales process were 21 times greater if the business made contact within 5 minutes of generating the lead versus contact in 30 minutes,” Stuerke says. “Another study, this one by the Harvard Business Review, found that the average response time by businesses to a generated lead is 42 hours – and that’s just for responses that occurred within 30 days.”
Generating sales leads is big business, with more than $23 billion spent on internet leads alone, he notes.
“If you’re a financial advisor or another professional, you may also be spending money on direct mail, invitations to seminars, TV commercials and/or print ads,” Stuerke says. “How many leads are you generating, and at what cost per lead, only to lose them?”
Stuerke, who began developing innovative marketing strategies while working as a financial advisor, says he has found four ways professionals commonly lose sales leads.
“And they can all be fixed!” he says.
A lot of these issues stem from a common problem: businesses focusing only on the hottest leads – the people who are ready to buy today, Stuerke says.
“Instead of allowing those ‘cooler’ leads to fall by the wayside, businesses should capture and cultivate them,” he says. “Eventually, they’ll find that instead of constantly chasing leads, they’re harvesting new clients.”
About Brandon Stuerke
Brandon Stuerke is a business coach and cutting-edge marketing strategist, specializing in innovative new tools that save professionals time while building their practices. He is the founder and president of Advisors Edge Marketing, Inc., which produces Automated Advisor, a new program that strategically streamlines prospect cultivation. He’s also the creator and president of the Strategic Alliance Program, Winning With CPAs, which teaches financial advisors how to build their practices by partnering with CPAs.
Tags See All Tags