Whether you are a Fortune 1000 company, a mid-size business, or a one-man show, organizations of all shapes and sizes lose thousands of dollars every year in missed sales opportunities due to poor lead management.
In fact, there are multiple ways to mismanage leads that result in revenue loss. For example, many organizations have poorly trained teams that spend too much time trying to convert low-quality leads, or contacts that were wrongfully enrolled as a “lead”. In addition, thousands of dollars are lost because organizations waste manpower by having hundreds of hours wasted on contacts that will never convert. There are also organizations that have a number of gaps in their process in which high-quality leads fall through the cracks. Unfortunately, most companies that fall short of hitting their sales goals suffer from more than one of these, if not all of them.
When companies contact a growth marketing agency that specializes in sales enablement, the first thing that is typically done is an analysis of the business model and how its sales process is set to achieve revenue targets. Then cracks are revealed, flaws are brought center stage, and growth marketing experts create a strategy that will revamp the sales process using a custom stack of tech tools and strategies with a multi-channel digital marketing approach. This is where marketing and sales get on the same page, valuable data is farmed and harvested, and high-quality leads are collected and properly scored before entering a cost-saving nurturing system with measurable results.
If you are a member of the C-suite, a sales manager, or play any decision-making role in your organization, this article is intended to help you learn more about growth marketing technology and how it can be used as a powerful sales enablement tool.
First, Cut Your Internal Costs
Because sales is the chief revenue driver of a company’s ability to grow, a lot of focus is put on hiring sales teams with multiple people responsible for lead management. Typically, there are a number of account executives, data managers, and phone sales reps, in addition to managers and sales trainers. These positions demand salaries that range from a national average of 40K to 200K a year. Do the math, and you are likely investing hundreds of thousands of dollars in your sales team.
Now prepare yourself, because your mind is about to be blown and your imagination is going to run wild: what if growth marketing agencies had a measurable solution that eliminated the need for an internal sales team of 20 people, and replaced them with a tech tool and a three-person team that got even better results? In addition, what if this solution would literally cost a fraction of your current sales and marketing investment?
Such a solution does exist. It’s called a growth marketing stack, and at its core is a CRM with marketing automation, lead scoring technology, and a number of other features that run 24/7, simultaneously, and only require a team of two or three people to manage workflows in a manner that will enable your organization to hit its high revenue goals. Growth marketing agencies like WEBITMD use HubSpot–a powerful and affordable CRM that can integrate with most internal platforms used by businesses.
Completely Eliminate Lost Lead Opportunities with a Robust CRM
Any savvy sales manager will have a general idea of what their loss percentage is in regards to missed sales opportunities with leads. Human error alone is responsible for unreturned emails or phone calls, inaccurate data shared between sales and marketing, inaccurate lead scoring, content targeting the wrong buyers, and a number of other things that can lead to missed opportunities to closing the deal.
When you partner with a growth marketing agency that has a CRM like HubSpot, you can eliminate that loss entirely. CRMs of this caliber automatically funnel contacts into a lead scoring system where they are segmented according to any pre-set metrics. Leads can be scored based on where they are in the buyer’s journey, or according to their buyer persona. But in order to qualify a lead and segment them appropriately, there needs to be detailed information on every person who enters the funnel. Whereas traditional digital marketing requires searchers to give up various levels of information about their identity or consumer-based needs, growth marketing technology can capture detailed information on leads simply by analyzing their buyer’s journey and capturing high level information relevant to their buyer persona. And if someone enters the funnel who is not a true lead, they can be segmented into an entirely different section as low-priority contacts.
Increase Sales by Improving Lead Quality, then Nurture Through Marketing Automation
When top of funnel traffic is poor, lead quality is dismal. Using solo strategies like SEO and paid media can be very challenging when it comes to attracting high-quality traffic. However, when these strategies work together (along with an inbound strategy) to nurture leads using marketing automation, you will see that growth marketing technology leads to significantly higher sales thanks, in part, to automated tech tools.
Once a growth marketing agency has a solid understanding of how your customers engage content and make purchasing decisions, top of funnel strategies use custom targeting methods to attract high-quality traffic and send them into a workflow where they are educated about their needs, and how the products or services provide the best solution. In this process the technology qualifies people as leads, and nurtures them with content that speaks to their unique pain points through marketing automation.
Increase Sales by Lowering Your CPA with Tech-Forward Solutions
Think about how much it actually costs you to get a lead: you have your team that you need to pay, so their time cuts directly into your marketing budget, and any other additional sales tools you might be running will have additional cost. Growth marketing technology uses marketing automation to nurture leads thus freeing up hours of time for your team member’s time to dedicate in other sales-driven strategies, even tactics like guerilla marketing strategies. When you can lower your CPA by using a CRM platform, the savings in time and dollars can be reinvested back into the business to generate sales through other channels.
Would a tech-Driven Growth Marketing Strategy Improve Sales for Your Business?
Growth marketing stacks don’t fit all business models, but it’s worth your time to find out if a tech-forward growth stack is your solution to increasing sales and seeing year-over-year gains. Download this FREE guide on the WEBITMD Growth Stack, and give us a call for a complimentary discovery session. We would love to learn about your customers, products, sales cycle, and help you find the best strategy to hit those high revenue targets.