If you are a marketing leader and you’re missing or deficient in one of these, there’s a problem.
IBM recently completed a survey of CMOs across all industries. According to the study, a CMO’s number one success measure is marketing ROI. Translation – ROI equals results. For your CEO, results equal leads that generate new business. For your sales force, results equal leads that are ready to buy. Without all four elements of Lead Generation, you won’t produce the expected results.
In my last blog post, we covered the Process that captures leads & nurtures them until sales ready – Lead Management (Get the Lead Management Best Practices Assessment tool ). In this post let’s discuss the People part of world class Lead Generation.
I was recently on a call with Sue, a marketing leader for a technology company with around $150 Million in revenue. We were discussing her goals & challenges heading into 2013. ROI came up. Sue was feeling the pressure to generate results for her team. I mentioned the four key elements above. I asked Sue to walk me through how leads are handled today. It became apparent she didn’t have a real process in place to qualify leads. She also realized she didn’t have a dedicated resource to nurture leads that aren’t sales ready.
Sue committed the same error I see all the time. She equated phone or email prospecting to lead development. She had a team dedicated to pounding the phones and blasting emails, but no one devoted to nurturing leads. Armed with a simple script, her team captured a few data points and shipped the leads to sales. Sound familiar?
Lead Development Rep
A lead development rep is not a tele-marketer. A lead development rep (LDR) is not a sales rep either. They hold a very strategic role within the sales and marketing organization. The LDR’s job is to increase the quantity and quality of leads provided to sales by…
- Validating Leads – Confirm information obtained is sufficient and correct
- Rating Leads – Rate leads based on match to the Ideal Customer Profile
- Scoring Leads – Score leads on their activity level (page views, downloads, form fills, etc.)
- Nurturing Leads – Nurture leads whose rating and score merit one-on-one interaction
- Qualifying Leads – Qualify leads using a pre-established lead qualification criteria
- Handing off Leads – Handoff sales ready leads to the sales force
If done correctly, the LDR is the first human contact a prospect has with your company. Think of that. Your LDR is making that vital first impression. And the LDR must stay with the prospect until they are sales ready. What does this mean? Not only do you need to invest in an LDR team, you also need to hire the right people.
The LDR skillset requires a unique set of attributes and qualities. Your classic tele-marketer doesn’t have them, nor does your sales rep. To get it right, you need to create a competency-based hiring profile suited for the role. In his book Topgrading for Sales, our CEO, Greg Alexander, outlines how to source, interview and hire using a competency-based profile.
So where does this leave us? Here are some Key Takeaways:
- ROI equals the results you generate for the company
- To generate quality leads that generate new business, you need someone to nurture & qualify those leads
- An LDR plays a strategic role in the organization
- LDRs have unique qualities and skillsets
- You better hire the right people or your lead management process will flop
- Use competency-based profiles to hire A-player LDRs
If you need help building an LDR competency profile, send me an email.