One of the biggest concerns for marketing and sales departments at any organization is lead conversion volume. Sales organizations are constantly looking for new strategies to maximize their lead conversion. But often, companies struggle with lead conversion because of poor lead quality.
What is Lead Quality, And Why is it Important?
Lead quality refers to the accuracy and details of a lead. This information is essential to create targeted marketing and personalized sales approaches. So when there is a lack of adequate information or the contact details are inaccurate, it creates a situation where the organization wastes money maintaining lead databases that will most likely not be effectively converted into sales.
Get started with SalesIntel’s human-verified data and experience how high-quality, accurate, and updated lead data can significantly grow your funnel.
What Are Some Ways to Improve Lead Quality?
Improving lead quality is challenging as data maintenance is a continuous process. These are some of the primary steps to ensure lead data quality:
Define What You Mean by a Lead
The most important step to ensuring data quality is clearly defining what it means to record a lead. There has to be accurate contact information, service or product the client is interested in, and other requirements depending on your business. Only when all this information is available should the contact be considered a workable lead.
According to reports, sales reps waste almost 27% of their working hours calling wrong numbers. Targeted marketing efforts are similarly wasted. So a quality definition can help remove bad data, introduce better data recording practices in the enterprise, and reduce wastage of time and money.
Use Lead Scoring
When a company is growing its lead database, it gains access to a large number of contact details on potential buyers. But not all these buyers are in the same place in their buying journey. A lead scoring system helps the sales and marketing teams to determine which sales have a better potential. Lead scoring helps prioritize sales and marketing targets and produces quicker and better sales conversion rates.
At SalesIntel, we use our Buyer Intent data to assist clients’ lead scoring systems. We monitor the company’s activity on different content related to the intended topic and then integrate other firmographic and technographic data to generate lead scores. The higher score, the more time leads across the company have spent searching content about their potential purchase and the better fit they are. This means that higher-scoring buyers are already on their buying journey and will be converted easier with strategic marketing and sales efforts.
Find Your Buyer Persona
When a company has access to quality leads with lead scoring, they will gradually find their ideal buyer persona. They can slowly piece together the ideal customer for their B2B marketing and then target their marketing campaigns to that persona. The next stages of lead generation can also be more fine-tuned by keeping this buyer persona in mind.
Nurture Your Leads
Another common mistake is giving up on your leads too quickly. In the case of high-quality, high-scoring leads, it is important to build a relationship with the leads even if there is no potential for immediate conversion. Customized marketing can build brand awareness and relationships with the lead that can translate into important sales opportunities. Spread out your follow-ups and don’t let anyone slip through the cracks.
Build a Strong Communication System Between Sales and Marketing Departments
In most enterprises, the marketing and sales teams need to coordinate, record lead data and execute the sales. Once sales are executed the marketing team gets information about the problems of buyers that they can target. But often, this information exchange does not happen effectively. Sales data never makes it back to marketing teams, and marketing records of ideal leads are also inaccurately conveyed to the sales reps.
SalesIntel’s Research-on-Demand can work with you to expedite the human verification of existing contacts and set them to auto-export to your CRM or email marketing system — all from within the SalesIntel portal.
Analyze the Leads
These are some of the high-level ways CMOs can work to improve the lead quality in their organization. But just good-quality leads are not enough to push up sales. The leads must be thoroughly analyzed to identify the problem points in the purchasing process.
Once the ideal buyer is identified and their pain points are eliminated, lead conversion rates will increase. The marketing team can also analyze their sales data to identify which specific needs their customers are trying to fulfill and then create marketing systems that target those personal requirements. Traditional marketing campaigns are being supplemented by automated marketing software that can use lead data to generate personalized marketing messages for leads.
SalesIntel users report that their lead database grows by 15 times after taking up our service. This vast database gives them plenty of opportunities to convert and analyze their leads. Lead information generated before a sales conversion can also be useful to build and maintain post-sales customer information. Once the enterprise knows what the customer wants and why they want it, they can encourage repeat buys and keep the customer satisfied with their post-sales service.
The SalesIntel platform can also be integrated with leading CRM systems like Hubspot, Salesforce, Marketo, and others to give you instant access to accurate contact data directly from your CRM or email marketing system.
Future of B2B Contact Data: What To Expect
Data generation and data analytics are becoming some of the most significant instruments driving business decisions. But as of now, there is still a long way to go to improve data quality. A Gartner study claims that nearly $15 million is wasted by a typical enterprise every single year due to poor quality data. This situation, however, is quickly being remedied. SalesIntel has already come up with a 95% accurate data generation system.
Gartner also reports that there will be a heavy emphasis on data quality across all industries in the coming years. By 2022, it is expected that almost 70% of organizations will introduce systems to monitor their data quality, which will reduce the operational costs in sales and marketing by almost 60%.
At SalesIntel, we solve the lead quality challenge and accurate B2B contact and company data to improve lead quality and maximize revenue. Our B2B contact information is human-verified for accuracy. We also have a 90-day re-verification policy to keep the information up-to-date.
Our customers rely on our data to fast-track their lead conversion sales process. For example, one of our clients saw their call-to-connect ratio on leads double after switching to SalesIntel for their B2B contact data.
Does your organization want to improve its lead quality and conversation and increase sales volume? Try SalesIntel’s B2B contact and company data.
