Oct 10 2019
7 steps to improve your lead-to-revenue management (L2RM)
Quality business can be roughly divided into 3 basic pillars:
- A smart business plan that knows your goals, timelines, resources’ availability, capabilities and limitations, advantages and required improvements, as well as a plan B. It is a plan that is clear and realistic, but still challenging.
- A motivated team of employees that believes in the company, is going in the common direction, and looks forward to collective progress.
- Consistent care of the customers – the potential and existing ones. All this throughout the entire purchase journey, all from the initial interest to the actual purchase.
It requires a clear strategy, an effective behavioural analytics of (potential) customers, and innovative approaches to stay in touch with them. Below are some tactics to successfully direct the business contact through the sales funnel and towards the final purchase decision.
1. Get to know your customers.
Who are your customers, what are their interests, how they think and make decisions, which values they appreciate, where do they look for information, what are their goals, preferences and shopping habits? A targeted content generates 20% more sales opportunities.
2. Attract attention.
Stand out in a subtle way using a targeted, yet unobtrusive inbound marketing strategy. Prepare high‑quality content, place it on channels where your audience looks for information, and communicate it just at the right time. Create an inbound lead exactly when customers would like to have it and exactly when they need you.
3. Take advantage of the initial interest.
Before it fades away. The Harvard Business Review survey shows that responding to customer’s interest within an hour is seven times more successful than responding in over an hour and 60 times more successful than if the customer receives response within 24 hours or later.
4. Keep in touch.
Constantly and in an innovative manner. Blogs, social media, specific websites, vlogs, webinars, podcasts, printed materials, personalised promotions. There are countless opportunities to communicate, both traditional and digital.
ProTip: Avoid the channels that are often overlooked by the consumers. Read more about Banner blindness. As many as 4 in 5 entrepreneurs who participated in the Bizo survey said that performance rate of traditional email marketing amounts to mere 20%. As a result, as many as 89% of entrepreneurs are looking for new marketing and sales strategies and technologies. AdSigner responds to these needs as it announces a new era of email marketing and related sales opportunities. Read more.
5. Keep track of the activity.
Lead scoring is used by as many as 68% of successful entrepreneurs. It is intended for scoring the activities of the selected target group. Now you can fairly accurately assess the phase of the purchase path a lead is in and adequately react at the right time.
6. Personalize your communication.
Experian reports that the open rate of email campaigns with personalized headings is 29 times higher, and the click rate of personalized content is 41% higher compared to non-personalised emails. AdSigner distributes the ad campaign only to specific target audience and simply integrates it into the messages in daily personal business communication. Read more about establishing fluent internal and external communication.
7. Establish the L2RM synergy among departments.
There is strength in numbers. This also applies for the lead-to-revenue management. Link efforts across all departments in the company to attract customers and retain their satisfaction. The CSO Insights survey shows that 89% of companies who have established a lead nurturing synergy at least during marketing and sales, delivered much better results in converting the leads into actual sales opportunities.
With a new digital assistant, the synergy between lead-to-revenue management and your advertising messages becomes stronger and significantly simpler. Thoughtful and subtle. Focused and attractive. In the right place at the right time.
It is time for you to try out AdSigner.