According to Forrester Research, companies that excel at lead nurturing generate 50% more sales-ready leads at 33% lower cost. How do your sales and marketing teams work together to source and qualify leads? In Base, you can gather insights about your lead generation, qualification and closure. We’ve already covered the questions Base can help you answer about your sales performance and sales process in previous posts. Today, we’re going to discuss 4 questions about marketing effectiveness you can answer with Base.
1. How Many Leads Is Marketing Sending Sales?
For example, sales-driven organizations would agree that generating leads is the single most important objective. At the drop of a hat, you should know how many leads your sales team is getting in from the marketing department. This is where the Total Incoming Deals report comes in. You can sort the amount of incoming leads by date or by sales rep.
2. What Are Your Best Lead Sources?
You have leads coming in from a wide variety of sources. Some leads come from lists you acquired, others from business cards and still more from the ‘contact us’ form on your website. While it’s important to know how many leads marketing is sending over to sales, it’s equally important to understand the best sources of your leads. Base’s lead management tools help you organize leads and assign them to the right sales reps so they can be followed up on and qualified quickly.
For example, the Deal Sources report allows you to see which deal sources are bringing you the most business. The report below, shows that a majority of your leads is coming from social media and trade shows. Perhaps it’s important to invest more into those channels.
You can filter this report by date range, team member, tag, or stage.
3. Who Should Sell To Which Lead Source?
The Deal Source Performance report shows you the percentage of won deals per source broken down by user. Is one team member better than others at closing deals from a specific source?
4. Who Are Your Biggest Customers Who Closed Deals Lately?
How well do you know your customers? It’s not rocket science to see that the better you understand your customers, the easier it is to retain them. Or, better yet, the easier it is to get them to buy more of your product or service. One study has shown that your odds of selling to a new prospect is 5 -20% while the probability of selling to an existing customer is 60-70%. Pretty big difference right?
In Base, it’s easy to track your largest customers over a period of time. The Sales by Account report identifies the customers who are bringing you the most revenue. You can see your customers broken down by total sales, and sort by a custom date range. Even though Apple was your biggest client in 2012, are they also your biggest client in 2013? How can you retain your largest clients? This report will help you build strategies to do so.
Did you like this post? Continue learning more by downloading the ebook, “Sales Intelligence 101: 5 Insights Every Sales Executive Should Have”. We’ll show you how easy it is to get the insights you need with the beautifully designed, useful reports in Base. We’ll take it a step further by showing you what key decisions you can make based on the data.