In business, what’s more important than driving leads to your company?
Simple answer: converting them.
Many businesses are finding ways to build visibility and attract prospects to their organizations. Unfortunately, most aren’t efficient at turning those leads into customers. Sound familiar? Why is this happening?
There are two reasons: (1) you’re falling short in delivering good customer experiences and (2) your sales teams aren’t successfully following up with leads.
Both these reasons have two common denominators: lead routing and customer data platforms (CDP). Chances are that if your leads are not resulting in conversions, you either have a poor lead routing process or lack one altogether.
This problem can be solved if you implement a quality lead routing strategy for your marketing and sales departments.
What Is Lead Routing?
Are you still using manual processes to route leads to their respective salespeople? Maybe you’re not effectively using critical data, such as the lead’s location, position in the sales funnel, and business needs to route calls. If not, then the customer experience and sales productivity levels will continue to suffer.
With lead routing, you have a system in place that weighs all the relevant factors about your leads so your customers are connected to the best salesperson to help them at the best time to do so.
For example, if you’re a global company, then it would be ideal to connect leads to salespeople in their locale. This makes it easier for them to connect on a personal level.
It’s also ideal to route leads to salespeople who are familiar with the particular business needs of the prospective client. For instance, if you get a lead for finance and marketing companies, then it’s best to route leads to salespeople who specialize in those industries.
In a nutshell, lead routing consists of distributing leads to sales agents based on factors such as:
- Geographical location of the prospect and salesperson (based on area code or ZIP code)
- Even distribution of leads to avoid overwhelming sales agents
- Channels from which the leads are acquired
- Field of expertise relating to the leads’ industry
- Technologies used by the lead
- Job responsibilities of the lead
- Intent data captured for the lead
Fortunately, you don’t have to do this manually. Now, there are customer database platforms (CDPs) that integrate with your existing sales and marketing tools. Before we discuss them further, we’ll review why lead routing is essential to increasing conversions.
Why Is Lead Routing So Important?
An astounding 63 percent of consumers who request info from a company don’t purchase for at least three months. If you’re not properly nurturing your leads, then you’ll miss out on great conversion opportunities.
Stats show that following up with a web lead within five minutes can give a 9x boost to conversions. Companies that master lead nurturing see 9 percent more sales reps meeting quotas.
Now, the key to nurturing is sending leads to the right place at the right time. If a MOFU (middle of the funnel) consumer reaches out to your firm and connects with a salesperson who specializes in TOFU (top of the funnel), then they’re not going to get the proper assistance needed to drive them to the end of the funnel.
Then there’s another issue.
Only 56 percent of B2B companies are verifying leads before they’re passed along to the sales team. This can make it difficult for your salespeople to reach prospects (or waste time trying to do so).
The solution to all of these issues is automated lead routing via a customer database platform.
9 Benefits of Using a CDP for Lead Routing
Here’s a closer look at the benefits you’ll reap by adopting a CDP in your organization:
1. Better organize leads using geography, behaviors, media channel, engagement period, position in funnel, and so on.
2. Boost response rates so your salespeople have a higher chance of closing more deals.
3. Distribute leads in a way that doesn’t overwhelm your sales teams, while also improving efficiency and productivity (i.e., geographical or chronological flow).
4. Keep track of leads using real-time data, so sales know which prospects to prioritize.
5. Build and maintain customer relationships (because nurturing doesn’t stop with the sale).
6. Prevent the risk of salespeople reaching out to the same company at the same time.
7. Save time by automating the lead routing process (vs. doing it manually).
8. Easily update lead routing rules as needed.
9. Boost your revenue; the better the lead routing, the easier it is to close.
Boost Efficiency, Sales, and Revenue with a CDP
Introducing automated lead routing in your organization is a must. To learn more about how to design a lead routing process well, simply fill out the form below to get instant access to our free 7-Step Guide to Swift and Accurate Lead Routing.
Ready to learn more? Download the Ultimate Guide to Driving Revenue with a B2B Customer Data Platform today!