No matter the size of your ecosystem, you and your partners undoubtedly have databases full of leads – some of those leads will never ever convert into customers. Disqualified leads can be a major issue for businesses, particularly if they lack good ways of sifting those leads out. Your sales teams can easily waste huge amounts of time and resources chasing after leads that won’t convert.
The silver lining... not all of them are lost causes. Further, even among those who are lost, there are still ways you can find use for them. Or, at the least, you can make sure they are definitively disqualified so that they never waste anyone’s time ever again. Here are five ways to uncover treasure (leads) amongst loads of trash (leads).
1. Utilize tagging of disqualification reasons
First, to lay some groundwork: are you using a lead-tracking database that allows you to tag disqualified leads with reasons why they’re disqualified? If not, you should consider making an upgrade. You’ll be missing out on a lot of opportunities if you cannot code reasons for disqualification.
Also, we strongly recommend indirect sales organizations set up a single shared lead database, which all members of the ecosystem can access and contribute to. Don’t let individual partners keep their lead databases private – you’ll never be able to track their success rates.
2. Permanently trash any junk leads
You undoubtedly have numerous leads that are self-evidently junk, like Joe Schmoe at phone number 123-456-7890. Make sure your database has a way of flagging and trashing such entries so they never waste anyone’s time ever again.
3. Don’t give up hope on iffy cases
One of the big reasons we recommend a database that lets you flag reasons for disqualification is that sometimes those reasons can change. For example, just because a lead is using a competitor’s solution right now, that doesn’t mean they couldn’t potentially be converted in the future. Perhaps you introduce new superior features, or that competitor stumbles in an embarrassing fashion.
It’s best if you can code your leads based on a rough idea of their likelihood of converting. Those with a low rating, but still might possibly convert, can be kept on a drip-feed of content rather than being totally abandoned.
4. Prioritize repeat visitors
Let’s say you have a lead who’s considered disqualified for whatever reason – but then he suddenly reappears on your radar, making new contact or taking advantage of a new landing page offer. Your system should be able to flag and prioritize these leads! The fact that this lead has voluntarily come back means you made more of an impression than you first thought, and they probably have a much higher likelihood of converting now.
Don’t let them slip through your fingers.
5. Look at the data and determine key connections
Finally, don’t forget that there’s always value in data. Do some mining on your disqualifications, and look for commonalities. Age? Gender? Job role? Geography? Just as you can better target your marketing if you know who your best leads are, being able to identify your worst leads will tell you who not to target. That’s a big cost saving measure, and it’s right there in the data.
Centralize Your Lead Insights With LogicBay
One key element of the LogicBay methodology is centralize your lead database, while giving it a rich set of analytical tools which will benefit your entire ecosystem. When all your leads are in one place, everyone gains from the insights to be found. It makes life easier for your partners as well, and makes you more attractive as a vendor.