Should You Rescue Rejected Leads?

free_ebook Rejected_Stamp_by_AshlyntearSales rejected leads (SRLs) are an interesting bunch. Some believe that putting time into following up on rejected leads is a waste of time and money. I, on the other hand, think it’s premature to make an off-the-cuff decision regarding your SRLs without further investigation. Salvage your SRLs and you improve your overall ROI, so I think it’s worth the time to look into why the leads were rejected. Once you have the full picture, you can better make the decision of whether or not to pursue the SRL. Here are the questions you need to be asking about your SRLs:

  1. Why was the lead rejected? The answer to this one will likely spark further questions.
  2. Was the reason for rejection one you can overcome? Timing, sales approach, lack of information, etc., can all be addressed.
  3. What is the realistic potential of the lead if you can salvage it? Before you spend time going after the SRL make sure you have an idea of what the numbers are.

Once you have answers to these questions, you’ll probably be able to group your SRLs into categories based on how you want to proceed with them. Some you’ll dump, some you’ll send a brochure to, some you’ll invite to a webinar, and so forth, depending on what your research gleams makes sense. You’ll want to be sure to track your efforts so you’ll have that data to go on for future SRLs as well as to shed light on your current scoring algorithm and any modifications that may be necessary.

What do you do with your SRLs?

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Why Your Sales Force Needs to be Chameleons

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imagesI came across an article in Entrepreneur magazine not long ago that really resonated with me because it speaks directly to the necessity to fill the gap created by customer need. And, to do this takes a multi-faceted approach. Sales needs to think like an entrepreneur, and management has to build systems that facilitate an effective lead to money delivery.

Here’s the article. Take a read and then let me know your thoughts.

Shark Tank’s Robert Herjavec on Great Business Pitches and Why Sales Reps Need to Be Chameleons – May 29, 2014

Earlier this month entrepreneur Robert Herjavec, an investor on Shark Tank, served as a keynote speaker for CallidusCloud’s annual meeting. He shared some of his ideas about entrepreneurial success during a fireside chat with CEO Leslie Stretch, as well as by e-mail — which have been compiled to create this post.

What should we look for in entrepreneurs, I’m sometimes asked.

The first thing all of us look for is you’ve got to engage me. I’ve been sitting in that chair for 12 hours and you come out and you start with this boring pitch?

I don’t care how good it is. I don’t care if you’ve invented the better mousetrap. You’ve already lost me.

A friend of mine runs a very large VC company called Greylock. He has a list of things he looks for in entrepreneurs, from the time they walk through the door to when they sit down, to determine whether he’s going to invest in them.

Customer value should always be at the forefront of an entrepreneur’s mind. Listen to what your customers are saying and more importantly, to what they are not saying. Take these cues and adjust your plan.

Find a customer with a true need then build your business plan around solving this gap. Developing a business and then trying to find a customer is the wrong way around and will make an entrepreneur destined to fail.

And when it comes to salespeople, there are a lot of things that can make them great. But I think one of the most critical factors is adaptability. I look for sales reps who could be blindfolded, tied up, put on an airplane, dropped in any location in the world and not only figure out the rules of the game but how to win. I think that this chameleon-like adaptability, the ability to change your colors depending on your environment, is the most crucial thing.

Speaking generally about people in business, success starts with sacrifice. If you set goals for yourself and intend to meet them, sacrifices will have to be made. But when you finally meet your goals and achieve the success you set out for, the satisfaction always exceeds the sacrifice. Always.

My sartorial choices are a little more formal than other people’s. In my company’s culture, at the Herjavec Group, we believe that we’re a little different. People always make fun of us and say, “Oh, do you guys not have casual days?” and I always say, “Really? Our customers don’t buy on Fridays?” Every day is a professional day in our world.

How Are You Budgeting For Your 2015 Marketing Needs?

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It’s that time of year again. You’re probably beginning the process of creating next year’s marketing budget, deciding what percentage will be allocated to the customary tradeshows and lead gen portals. But, this time around I’d like you to think about something else for next year. I’d like you to think about how much money you’re going to be spending on digital marketing strategies like website optimization, digital advertising, webinars, e-mail campaigns, marketing automation, retargeting, and affiliate marketing. I’m encouraging you to broaden the scope of your budget parameters because I know it will make an impact on your overall results. If you are following what most of the major companies spend on their digital marketing programs, you know it hovers at about 50 percent. Make sure your approach for 2015 addresses your digital opportunities and directs sufficient funds their way.

How are you investing your marketing dollars in 2015? Is digital part of your plan for next year? Tell us why or why not.