Latus.Lead.Gen Flipbook 2. Level 1

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 Depending on the industry A Typical Sales Person’s Week and structure of your In a recent time study it was found that the average week of a sales person has organization, nearly 50% of little to do with selling. Between administrative chores, service, planning, a sales person’s time is travel and running down leads only 10.3 hours were spent in front of prospects… spent in lead generation. and at least half of that time was 23% of a sales person’s time wasted in front of the wrong prospect. is actually spent selling. 50% of all sales calls are to dead end leads.

That equates to the average sales person spending just 5 hours a weekconvincing qualified prospects that your product or service will fulfil theirneeds. When you consider that in many industries the sales cycle has becomecomplex and lengthy, that is not a lot of time . It translates into just 260 hours ayear doing the most important aspect of their job - selling.This means that the biggest hiddendeterrent to more revenue andearnings for a company may lie in thelack of face to face selling time.It stands to reason then, that in order toincrease revenue and decrease expensesthe solution is to increase the amount oftime a sales person is in front of someoneand selling to the right prospect at the righttime. But how?Often management may not be able to identify the problem due to thelimitations of sales figures, closing ratios and the way productivity is measured.If the entire sales team is experiencing the same results, can be occasionallymotivated with new offerings and meets quotas, then overall things areconsidered successful.While sales teams may be successful they are successful only within historicperimeters. In other words, what has always been the measure of success

becomes the new measure for tomorrow. Sales goals like “plus X% for the year”are therefore limited by past experience because they start with oldexperience. Numbers throughout the sales process and quota (leads in,prospects generated, resulting sales) are only manipulations of past data.They can be nothing else as long as the same methods and tools are used tomonitor sales activity and formulate goals.Sales will be the same, with possibly an X% increase for the year. Revenues willbe the same, plus X%. Expenses will continue to run higher than they need tobe. Warning Signs! Consider this. If sales quotas and expectations are driven by past historical experience…if that is the basis for sales goals: • Management’s hands are automatically tied when trying to increase revenue. There can be no more than the past allows. • The sales team will also hit a salary/commission ceiling. With no clear plan for bettering the situation, good sales people will begin to look elsewhere…less than stellar performers will be what the company is left with. At this point both management and sales people become frustrated and revenue will likely be stagnant if not decline.Roadblocks Get in the Way of SalesBy far the biggest amount of time spent by a sales person is coming up with

leads; who to approach, who is qualified to buy, who is ready to buy. Mostsales managers and sales people themselves rely on good old fashioned coldcalling (sometimes with a pre-approach through the mail or online.) We’vealready seen that only 3 in 100 of those they call on are willing to listen.So many companies have chosen to at least initially contact prospects withonline means. They do that through an online landing page and offeringinformation in exchange for an interested party’s email address and name.That works when the information given is well prepared and hits a nerve withprospects, but it alone doesn’t drill down far enough into a prospect’s wants,needs or desires. In these scenarios the lead is hardly a pre-qualified lead.If the contact information is truly sincere (and many are just “tire kicking”) itstill does not tell the sales people:• Why the contact is interested,• What they are looking for in a solution,• Or anything about the immediacy of the need.Instead the dutiful sales person immediately scoops up the contact informationand attempts to make a call…but for what?A Forbes study additionally shows that thefirst-time online contact grows rapidlycold.• The odds of calling to contact a lead decrease by over 10 times in the 1st hour.

• The odds of calling to qualify a lead decrease by over 6 times in the 1st hour. • After 20 hours every additional dial your salespeople make actually hurts your ability to make contact to qualify a lead.” • The odds of contacting a lead if called in 5 minutes are 100 times higher versus 30 minutes. • The odds of qualifying a lead if called in 5 minutes are 21 times higher versus 30 minutes.”* What hurts is that the study goes on to show that most returned calls from an online lead are initiated after 46 hours and 53 minutes. (After two days would you remember what sites you had visited?) It is proven that the number of calls it takes to finally reach the contact after two days is ten to eleven. Yet sales people gave up after attempting only 1.3 times. Then the contact got buried in a CRM. Between looking for leads, jumping on leads before they are qualified and failing to carry through with enough attempts to contact a barely lukewarm lead, a lot of time and expense goes by which results in very few sales. It’s not a very productive use of high-paid staff. The Service Conundrum Nearly 23%, or one third of a year, of the sales person’s time is spent dealing with problems, mistakes, looking for information or expediting orders. This is understandable. When a customer cannot find what he or she needs they turn to their most visible contact; the sales person. But that is* http://www.forbes.com/sites/kenkrogue/2012/07/12/the-black-hole-that-executives-dont-know-about/

customer service in action…therefore it is not likely to be shaved off a salesperson’s duty roster. Most would argue it is time well spent and may lead toupsells or cross-sells. Never the less, it is time spent away from true selling.Re-Thinking the Sales QuotaIt is beyond the scope of discussion here to investigate the efficiencies of CRMsand whether the time spent in servicing accounts is worth the exercise. Thepoint is here is two-fold: #1. Sales people spend little time selling.The daily duties which consume much of a sales person’s time are ineffectiveand counterproductive to the corporate goal or the job description.#2. In order to increase revenue, actual time spent selling must be increased.But what duty should be cut in order to give sales people the time needed tobe in front of new prospective customers?As much as this sounds obvious, it often is overlooked. Companies do not needmore hours in the day, they don’t need more cold calls or more efficient CRMs.What they need is to re-think the priorities of the sales person. The sale mustcome first; not second, third or tenth on the list of duties.This means that to have any chance of greatly impacting sales we must re-thinkwho is doing what. This includes changing the approach to lead generation…the sales person’s duty which is the largest time robber.The second largest time robber is talking to the wrong prospect, so any

gathering of leads must pre-qualify the sales prospect to the point that wastedcalls are greatly diminished.How important is this? Consider the MODEL A: SETTINGmath. Suppose Brown and Company GOALS BASED ONhave 10 sales people creating the HISTORICAL DATAsales for their company, whichequates to $15,000,000. (But you Current Sales: $15,000,000now know that only 10% of their timeis actually spent selling…or creating Goal: + 10%the wealth for the organization.) Next Yr’s Sales: $16,500,000Under the old method “A” of setting sales quotas based on past performance,Brown and Company might hope (and that’s about all it is) for a 10% increase insales.But what if Brown and Company’s priority became giving the sales team moretime to do selling?And what if that MODEL B: SETTING GOALS BASED ON TIMEincluded a moredeveloped lead SPENT SELLINGgenerationprogram which Current Sales: $15,000,000pre-qualified leads Goal: Increase Time in Sales by 50% 15% of Timeas to their exact ↑ Closing Ratio and Decrease Dead End Calls $22,500,000 + Next Year’s Sales:needs, desires and readiness so closing ratios could increase?

The demonstration is overly simplistic, but the point is clear: More time insales equals more revenue. More time in front of qualified prospects equalseven more revenue due to increased closing ratios.Want to blow sales quotas out of the water? Increase time spent selling, and doit in front of the right people at the right time!Time For A ChangeThere is no law that says a sales team needsto dig up it’s own leads. In fact it doesn’tmake financial sense to have them do so. If asales person is making $100,000, using only10% of their time to make “X” amount insales, why not pay them $10,000 and havethem spend 100% of their time producingthe same results?Give the sales team duties that are equal to their experience and pay grade…letthem sell. Give them leads they can sell.More importantly, give them leads that are pre-qualified as to the timing, needand interest in your product or service so they can sell effectively.Priority number one then is to use a lead generation program that is more costeffective than the time spent by sales people generating leads…and make sure

that lead generation program has the ability to drill down and deliver refinedinterests on the part of the leads delivered. Like the landing page exampleearlier, any one-part solution to lead generation is faulty. It delivers tire kickersand fleeting interests. Rarely does it return a mature lead.A good lead generation program takes the prospect by the hand and steersthem in the direction of the product that most suits their desires or needsthrough multiple interactions. It does so by delivering a large amount ofinformation and charting the path the prospect wishes to explore. Yes, it takeswork to set up, but by the time the prospect has reached a qualified or“scored” state, the sales person then knows what the potential client isinterested in, what drives them to make a decision and may even know whatspecial concerns they have that need to be addressed.Isn’t that the type of sales call you’d love to make?Gone then are the days when all leads were treated equally. Scored leads, orqualified leads, are ready buyers. Gone too are the days when high paid salespeople need to waste their time doing all of the mundane chores below theirpay grade, such as digging up leads. A good lead generation service should doit for you.But most importantly, gone are the days when sales quotas should beestablished based on sales and earnings from the year before. When salesquotas are based on the amount of increased time a sales person can sit infront of a qualified prospect, the inherent boundaries of quotas will break.Growth can truly be explored. A company can spring into its true potential.

What gives you the opportunity to grow beyond the traditional sales quota? Itisn’t:• More expensive CRMs,• More sales team members,• Doing more of the same that has been done before.It’s doing more with the talent you have by placing them in front of morepeople at the right time. It is making smart use of their sales skills and trustingthem to do what they are paid to do…sell. With more time to do the right thingthey will deliver, but only when some of the mundane that is blocking theirexpertise is taken away.A lead generation service delivers just that. It delivers qualified leads to yourorganization so your people can have more time to generate wealth.Break the bounds of the old-fashioned sales quota formula. Experience thepotential when sales people have the time to really sell.

Meet Latus’s Lead Generation Service “Taking the Frustration Out of Sales Quotas”• We provide multi-channel lead generation which includes the targeted prospects, on and offline sales collateral and “done for you” activity for multiple products or services.• Your company brand and value proposition remains intact as our campaigns are tailor made and approved by you.• We score leads down to 4 levels deep so that sales people do not waste time in the field trying to sell to weak prospects.• A constantly updated dashboard allows you to see activity and results...plus your new leads.• Our leads generation system can deliver specific results for up to nine products or categories of interest so your sales team knows what the customer wants before they are approached. Save money, time and get in front of the right customers with Lead Generation from Latus.See a video of how we deliver you the bestqualified leads in the industry - whatever theindustry - all tailored to your value propositionand sales initiatives.LATUS LEAD GENERATION!Then let your sales people do what they should do…make