There are all kinds of distractions that stop salespeople from actually selling. There are pointless meetings, endless emails, annoying admin and more. However, there is one productivity killer that trumps them all. Luckily, there are easy ways to avoid it. Let’s find out more.
...and the winner is…
The #1 productivity killer in sales is low-quality leads. When your leads are of poor quality, you waste your time trying to sell to people who can’t buy. You waste your energy chasing people who don’t exist. Most importantly, you leave potential revenue on the table.
Leads are the lifeblood of sales. Yet according to Forrester Research, less than 1% of B2B leads ever become customers. The reason for this is terrible leads. Salespeople are chasing leads that are incorrect, out of date, or simply not ready to buy.
On average, people change jobs 12 times during their career, that’s a new job every 4 years . The older your lead data is, the more likely the person you’re trying to call will have moved on to pastures new.
Most lists of leads lack any context, which is why salespeople waste their time calling people who are not ready to buy. A list of names and numbers can’t indicate how receptive they will be to your call. There needs to be something more.
How can salespeople avoid the problem of low-quality leads in their pipeline? Here are 4 ways.
Use accurate data
As we’ve seen, B2B lead data ages quickly. If you want to be sure of accuracy, your data needs to be as current as possible.
New data solutions never go out of date. They harness the power of AI to continually check their profiles’ accuracy against a large number of data points.
Narrow your focus
Another problem with bought-in B2B leads is that they are often too broad.
Marketers know the benefits of creating detailed buyer personas. However, by the time these personas are broken down into leads for salespeople, they are diluted by leads that shouldn’t be there. If your ideal customer persona is a CMO, it’s a waste for your salespeople to be calling Marketing Executives.
You need a solution that allows you to segment your database to a granular level.
Timing is everything
At the moment, most B2B data solutions offer up-to 3 dimensions of data.
- Demographic data – your prospect’s name and contact details
- Firmographic data – their company
- Technographic data – their job title and location
However, these dimensions do not solve our problem of contacting prospects who are not ready to buy. Companies put out information that when analysed correctly, give a hint that they might be in a position to make a purchase. For example, if a startup has just received a round of funding, they are likely to have a budget. If an organisation has just appointed a new CMO, they may want to make a mark by purchasing a new software solution. Maybe a company is reviewing their PSL. These are ‘sales triggers’, and as useful as they are, conventional lead data cannot convey this information.
What you need is a 4th dimension of data, time. When you know when a prospect is ready to buy, your conversion rate rises, making you more productive.
Our final way to avoid bad leads in your pipeline is to be stricter about what leads are in it. We’ve seen how you want accurate leads that match your buyer persona and are ready to buy, but when leads don’t meet these standards, they need to be removed.
Use lead scoring to grade your leads based on how interested they are in your organisation. If a lead has not reached a particular score by a specific time, remove them from your pipeline. Chasing lost causes is not a good use of your time. Raise your productivity by focusing on prospects who are receptive to what you’re selling.
If your organisation’s productivity is suffering from poor quality leads, you need Cognism Prospector. It solves all the problems we’ve talked about in one go.
- 400 million profiles that are checked against 5.6 billion data points for accuracy, using the power of AI.
- Easy to segment into lists that match your ideal buyer personas.
- 4-dimensional data tracking sales triggers, showing you prospects who are ready to buy.
- Automated email solutions that log prospects’ interaction, making lead scoring easy.
To find out more about how Cognism Prospector can boost your sales team’s productivity, visit us here or call us on +44 203 858 0822.