Smart B2B salespeople and marketers have embraced this reality: Not every lead matters. That’s precisely why Account-Based Marketing has taken off as a business strategy. When the focus is on targeted accounts instead of a vast sea of leads, companies have a greater chance of impacting their top line.
And yet the right leads do matter – the ones inside key accounts that you want to engage. Those are precious.
But that doesn’t mean they’re easy to manage. In fact, the lead-assignment process at many businesses can be challenging at best, and an outright nightmare at worst. Leads don’t get to the correct home. They’re shipped around to the wrong salespeople. They disappear into a database black hole, never to be heard from again. Even when the right ones do get to the right place, they often are hard to locate because they’re buried beneath an avalanche of poorer quality counterparts unconnected to important accounts.
All of that spells disaster for any ABM plan.
LeanData ensures this won’t happen with its lead-to-account matching engine that guarantees they never get lost – crucial for ABM strategies focusing on targeted accounts. Leads automatically get to the right salespeople at a speed and an accuracy that’s impossible to duplicate manually at scale. The new eBook “A Lead’s Journey to Find the Right Home” examines how LeanData has mastered the science of lead management so your organization can pay attention to what it does best: Turning them into revenue.
“Nobody wants to be spending time on the job matching leads and accounts, doing the research, and then manually converting leads,” said Hendrick Lee, LeanData’s vice president of product. “You want to be marketing and selling. That’s what you do. You want to close deals. And we want to help you do it.”
The Salesforce.com CRM platform doesn’t make it easy to connect leads and accounts because they essentially live in different data silos. LeanData bridges that gap. Then it goes one step further by either routing or converting those leads – depending on what works for your business.
The eBook delves into the various ways that businesses like Cloudera have customized the LeanData solution to streamline their lead-assignment system to best suit their needs.
Router: A lead automatically gets routed to the proper owner, such as a general Sales Development Representative (SDR) or an Account Executive. Once there, a sales rep can decide the next course of action – deciding if the lead is viable and so on.
“To take an account-based approach means you must match leads into the accounts,” said Bernie Macht, director of sales operations for the global financial service company Fincad. “That’s why LeanData Router has become an absolute necessity for us. It’s ended all the confusion in our data. We’re getting speed, accuracy and our lead database is starting to clean up. I hadn’t realized how much time my team was spending doing manual reassigns.”
Converter: A lead is auto-converted into a contact within a prized account. This saves time because it removes the step of sales reps having to review and process each individual lead. It also provides a richer, more nuanced understanding of all the data because the opportunities associated with the account are visible. The insight that provides about where a buyer is on the sales journey can be a huge benefit in an ABM strategy.
“It’s just more important to have a complete view because you want to know about everybody inside a specific account and be able to log your activities with them,” said Jason Seeba, chief marketing technologist at the big data company BloomReach. “You just can’t do that when you have leads. Whatever analysis you want to do with accounts, you can’t accurately do it unless everyone is inside the account.”
Hybrid: Leads can be managed through a combination of Router and Converter. Many businesses route most of their leads, but convert the ones that match into competitor accounts, partner accounts and existing customer accounts. Those are leads that you probably don’t want ending up on the plate of sales reps who should be focused on creating new opportunities.
“People are doing it all different sorts of ways, and there are benefits to all of them,” said Patrick Chen, the director of marketing operations at Kahuna, a mobile marketing automation software company. “It really can depend on your business. You have to figure out what’s best for you.”
That’s the whole point. A wide spectrum of options exists because LeanData recognizes there’s no right way or wrong way to manage lead flow – only your way.
You can download the eBook here to read about more about how innovative sales and marketing professionals are working with LeanData to carefully guide their leads to the right home. The journey begins here.