Nothing kills sales production faster than buying the wrong number of leads. Too many causes lots of wasted money. Too little can be even worst–bored sales agents and frustrated compensation. Learn to tune you lead buys to optimize not only sales resources, but sales performance.
Measure Twice, Cut Once
My Dad used to always tell me to measure twice and cut once. I think the same rule applies to lead buying. So often we get some initial data and knee jerk into a reaction. In lead buying this can waste a lot of money lead shopping and damage some potentially great marketing partnerships.
As this applies to buying the right number of leads you have to be very careful. Over buying is certainly counterproductive, but so is under buying. Attempting to maximize your sales production each month means hitting maximum throughput on your sales capacity each month. Often that means pumping more, not less through the sales engine.
Sales Capacity is an Individual Thing
Sales capacity is truly an individual metric. Each sales person’s capacity is effected by a myriad of influencers. If you are trying to determine overall sales capacity you have to create a weighted scale not a flat average.
Whenever I am asked how many leads each sales agent should get I always ask what is their velocity. This has a lot to do with sourcing the appropriate lead flow. Sales agents will have a variety of conversion ratios, call volumes, and performance levels. These will all effect the number of leads you buy.
Here are some of the factors I like to look at:
- Call volumes
- Number of attempts before sale
- Number of attempt before withdraw
- Desired number of sales
- Commission tiers (you will be amazed at the glass ceilings this causes in sales)
Remember your sales team(s) are made up of human beings. They will perform as such, each as individuals. Calculate your lead buys on the combined demand of the individuals, not an average of the group.
Buy Leads Based on Sales Performance
As you dig into all of these numbers stick with the golden rule that will always serve you well: “Buy leads for performers.” Poor performers will always hoard and waste leads. So, feed your top performers and starve your poor performers–both groups’ sale numbers will improve with this strategy.
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Next Wave Marketing Strategies brings over 5 years of integrity, innovation, and client satisfaction to the aged debt leads market. We offer industry leading quality control, data cleansing, and a generous return policy to empower you to build your business in the fastest, most cost effective manner. Learn more about aged debt leads.
(photo credit: timparkinson)
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