6 Ways the Right Lead Generation Tools Can Cut Costs in Your BusinessRieva Lesonsky
When you're trying to decide which lead generation solution to choose, there's a lot to consider. However, one of the key factors is how significantly the solution in question can help your company reduce costs. After all, if you're spending money to purchase a new marketing tool, you want to make sure that investment will pay off.
Here are six ways that the right lead generation tools can save your business money.
The right lead generation tools can save your salespeople time.
Time is money, right? When you choose lead generation tools that also include lead management capabilities, your team can spend less time on busywork and more time on making the sale. Instead of laboriously inputting lead information or keeping track of interactions with prospects in a spreadsheet, they can focus on delivering the right information at the right moment to persuade the prospect to buy. What's more, when you choose an app with lead management capabilities, you don't need to worry about how well it will integrate with your CRM software or other sales tools. Learn more about how to track leads better.
The right lead generation tools will help you get better leads (not just more leads).
When it comes to leads, quality trumps quantity. But getting good leads isn’t easy to do. In fact, in one study of both B2B and B2C businesses, the top lead generation challenge for companies surveyed is generating high-quality leads. (Here are some reasons your lead generation tool might not be doing that.) By definition, high-quality leads are ready to buy. That means you're more likely to make a sale — and won't waste time pursuing leads that don't fit your target customer profile.
The right lead generation tools will shorten your sales cycle dramatically.
By enabling your marketing and sales team to respond to leads right away, you'll accelerate the sales cycle from the start. You can also speed up the cadence of interaction with the lead going forward, thanks to automated follow-up. When your lead generation solution gives your team quick access to information about leads, your team can work respond with relevant information and solutions. This helps you move prospects down the sales funnel and close the sale faster.
The right lead generation tools help control your advertising spending.
Have you ever invested in a new advertising tactic that promised to boost your sales, but instead just cost you money? A good lead generation solution should update you about your monthly ad spend so you don't go over budget.
The right lead generation tools show you which ads are working.
Look for a lead management solution that keeps track of your ad rankings, lead conversion, and how well each ad campaign is performing. With this information at hand, you won't waste money on advertising that isn't working.
The right lead generation tools give you access to expert assistance.
You could spend a lot of money hiring an in-house marketing expert (according to Salary.com, the average salary for a marketing communications specialist is $66,240 annually). Or, you could outsource to a company that has multiple marketing experts on staff. Be sure the solution you choose provides ongoing support and account managers who work continuously to optimize your campaigns.
With savvy marketing experts on your side, you can feel confident you'll always make smart decisions about your lead gen strategy. (Find out some other ways to save money in your business.)