There is nothing more frustrating for Sales & Marketing leaders to learn that a new prospect purchased from a competitor because sales did not properly follow up. Today, the timing on new prospect follow up is critical. Most sales experts highly recommend that initial follow up on new leads/prospects be performed within 1 hour, doing so increases your chance of converting leads/prospects to revenue significantly. Also having a consistent and thorough lead/prospect follow up process will significantly improve your teams lead qualification rates. If your organization does not have some sort of system in place already, such as a CRM system with this Key Feature or proper sales follow up, is risking lost revenue from lost sales.
Consider the following:
- Sales reps who follow up within 1 hour have a 70% greater chance at qualifying the prospect to forecastable revenue-inside sales.com
- It takes 5-12 Sales Activities to quality a new prospect –Sales Development Metrics and Compensation Research Report Nationally, however, the average number of activities performed on new leads/prospects by sales professionals is only 2 attempts.
- It is proven that businesses who make investments during economic downturns regain pre-recession growth rates–Harvard Business Review “Roaring out of Recession”
Customer Relationship Management, or CRM, are becoming increasing critical these days to make sure organizations capture every sales opportunity. With a CRM system established and even more importantly, a proven mythology for effective and proper leads follow up on prospect has the potential to be a huge missed opportunity. This missed opportunity equates to loss revenue for your company. It is virtually impossible to enforce sales best practices or consistent process without a good sales tool.
Power-CRM, offered by iCepts Technology Group, is a next-generation, cloud-based, solution built on the Microsoft Dynamics 365 & Power Platforms. Power-CRM is more than just another CRM system, it is a best-practice, sales process tool. One of our out-of-box sales processes is Prospect Tracking.
Watch a video overview of this powerful process that will assure that every new prospect is properly attended to increasing lead conversion rates significantly.