Lead Generation is a quest to an indefinite sales area, where Sales Development Reps (SDRs) expect to extract, and then qualify leads. It is the sales process that stimulates and captures consumers’ interest in a product or service to develop the pipeline. Lead generation is the primary step prior to initiating further sales negotiations and prospect conversation processes.
The process is heavily dependent on digital channels and the lead generation process can be seen changing with the rise of new online and social techniques. Gone are the days when sales reps were bound to manually hunt for leads, which questioned the efficiency and was painstakingly time-consuming. The emergence of cloud storage has made online information readily available in abundance. Furthermore, an innovative take on the lead generation process has helped develop and qualify potential leads.
Here we look at 5 myths in practices, which SDRs should disregard while generating leads.
1. Complete Product Knowledge Is Necessary
Sales reps with complete product knowledge, explaining every bit, does not necessarily mean they will get better at qualifying leads or setting appointments. Comprehensive information on the corresponding product must be sufficient, especially when you have your focus product changing. Therefore, even though product knowledge keeps you informed on one particular product, it shouldn’t be the root where the entire lead generation is based on.
Rather, sales experience plays a pivotal role in managing tools provided for lead generation, in comparison to complete product knowledge. Most sales reps, based on their past experiences, seek out and qualify new leads for various products. With experience in hand, sales reps can manage to cope with the change product to be sold.
2. You Need To Have Your Own Success Story
Storytelling is one of the most powerful tools in lead generation and sales processes. Your product’s credibility can appear stronger if you back it up with a story that attracts people toward your product or service. Hence, many companies believe success stories are effective to win over new sales leads and close deals successfully.
However, companies focusing more on providing better closing rates to clients have the advantage. Along with developer success, consumer success has higher influence, if not more, on other buyers. The product ratings and reviews and user generated content are looked over as key components while purchasing any product. These act as voluntary testimonials about products and bring about user experience from varying perspectives.
3. You Can’t Track Lead Generation Success
The lead generation process is not John Cena. Yes, unlike the Cenation leader who cannot be seen (let alone tracked), lead generation can be tracked — contrary to popular belief. Tracking lead generation efforts has not been given a high priority. The tracking of metrics has been dubbed as an unattainable idea due to available lead generating software’s ability to scan leads in abundance. However, there are tools to manage leads. Also, you can further update the lead generation process, keep track of lead-to-close ratios and collect updated customer feedbacks.
Make sure your SDRs have quantitative data on every aspect of lead generation and sales process to keep them, and your company, on the right track.
4. Nobody Wants To Buy A Fresh Product Right Away
It is expected for buyers to go over an intense series of research before investing their money on any purchase. What is thought to miss the mark is that when you’re searching for leads for a fresh product, they tend to give disinterest to the product instantaneously. Therefore, the general idea suggests that it is difficult for fresh products to reach buyers promptly. However, in reality, you don’t necessarily need an aged product before you can gain a commitment. Also, not having a long list of contacts might just work in your favor.
Perusing leads can be a good start. However, being aggressively persistent will work against you. Once in a while, you can come across leads willing to give your product a shot on the first go.
5. Qualifying Leads Does Not Matter
Though businesses believe in qualifying leads, they don’t push lead qualification to the necessary level. The BANT (Budget, Authority, Need, and Timeline) method, lead qualification is confined in, isn’t taking the process as far as it needs to go. When it comes to B2B sales leads, quality overweighs quantity. Quality leads convert, whereas a large quantity of non-converting leads wastes your time.
The conventional working methods and beliefs may seem compelling but may we remind you that old school tactics need not always work at the contemporary time. Also, in order to walk further ahead of your competitors, it is always helpful to step out of the box and try a new idea or two no one has dared to attempt yet.