We all know the scene in Glengarry Glen Ross where Blake (Alec Baldwin) is talking to the reps.
“These are the new leads. These are the Glengarry leads. And to you they’re gold, and you don’t get them. Why? Because to give them to you would be throwing them away. They’re for closers.”
Most people in sales would rather work warm leads than make cold calls. That’s no secret. With a qualified lead, the sales cycle is shorter and your negotiating leverage is greater. That is why leads are valuable to your company and that is why you invest in marketing and awareness to generate leads.
More than ever, leads are a valuable commodity right now, so how do you distribute them to your team? Do they go straight to the rep in the territory, do reps split commission when the buyer and customer HQ are in two different territories, or do you have a system for distributing based on merit and ability to close?
One of our top producing clients, a VP Sales in a mid-sized software company, describes the way he manages and measures lead production. “Leads automatically go to the rep in the territory and each month I track the ratio of leads converted into sales. If the ratio is lagging I investigate with the rep to see if we are not properly handling the leads, if there is a change in buying activity in that territory or our lead gen programs are not driving the right kind of prospects. This is all very valuable information.”
Your system for distribution matters less than your conversion ratio, however it is critical to measure the number of leads that are coming in, the conversion ratio and the trends so you can adjust to make sure you are getting optimal return from your lead generation activities.
Eliot received his B. Comm. from Carleton University and has been honored as a Top 40 Under 40 Award winner.
He co-authored Sales Recruiting 2.0, How to Find Top Performing Sales People, Fast and provides regular insights on sales team management and hiring on the Peak Sales Recruiting Blog.
Latest posts by Eliot Burdett (see all)
- How To Make Progress On Your Sales Goal Without A Sales Leader - September 15, 2021
- Augment Your Recruiting Strategy During “The Great Resignation” - July 26, 2021
- London Sales Recruiters: 3 Recruitment Insights & Trends - August 5, 2020