Every manager knows cost-effective leads are one of the keys to maximizing profit margins. But research proves poor lead management could be costing your company a lot more than hot prospects.
Research from several different sources, including the Sales Benchmark Index, reinforces the notion that one of the biggest reasons companies fail is the inability to capitalize on cost-effective lead generation techniques.
The downside of poor sales leads
Purchasing, using and recycling leads from subpar sources has been proven to increase:
- employee/buyer turnover
- work-related burnout
- annual costs
- complaints, and
- the amount of time required for new reps to start hitting quota on a regular basis.
With all that in mind, leading companies have made a conscious change, allocating a much larger slice of their annual sales and marketing budgets to research – and pursue – the most cost-effective lead generation sources on the market.
It’s a counterintuitive strategy that effectively turns the tide on every negative trend mentioned above.
What’s more? Managers will more than likely see a difference within the first three months.
Source: “51 Tips for Sales Leadership from the Sales Consulting Industry,” Sales Benchmark Index.