Company Shrinks the Great Divide between Acquiring Sales Leads and Converting them into Customers
Los Angeles – Jan. 12, 2010 – Each day, thousands of businesses who sell goods and services to consumers purchase leads from lead brokers and generate leads from online promotions and advertising. It is one of the basic tenets of capitalism, pitting companies against each other in an effort to close the sale and earn the customer.
Technology plays a huge role in today’s marketing landscape – from banner ads to web promotions and the like – and has become a significant source of leads for companies. Lead generation continues to evolve and grow in sophistication, and is no longer the marketing barrier it once was. However, the age-old sales problem remains the same: closing the lead.
Lead management and automation are now recognized as gating factors for sales success. After all, leads are just the beginning of creating a customer, and it is no surprise that without lead management, businesses convert only a fraction of the sales leads that they should, or could.
Technology is also playing a headline role in lead management, and a whole category of software, CRM (Customer Relationship Management), has taken shape to provide processes and management tools for the lifecycle of a customer. While CRM solutions have made a major impact with business to business (B2B) companies, they have done little to advance the success of business to consumer (B2C) companies. Typically, CRM solutions are too complex and labor intensive for the high volume, quick turn-around nature that is prevalent in the consumer sales arena.
It is said that necessity is the mother of invention – and that is precisely what led to the creation of a new class of lead management software designed for consumer marketers. Los Angeles-based Leads360 was born out of the mortgage phenomenon, which produced a massive uptick in the amount of online leads being generated and needing to be managed. Recognizing that such B2C leads are typically driven by direct response marketing, nothing could hold truer than the guiding principal of time is of the essence. In fact, Leads360 data and third party research has shown that speed, process and persistence are the three driving factors for success. These factors are entirely different for successful lead management in a B2B environment, which has a far longer sales process that involves many more decision makers.
Identifying the differences between B2B and B2C lead processes is the domain of Leads360. The company has invested tremendous time and resources to dissect and identify the optimum processes, best practices and tools for B2C lead management.
Dan Morefield, Leads360 president and chief executive officer, explained that they approached the B2C marketing dilemma with a clear focus: ‘Zero in on one thing that can have tremendous impact, and do it right.’ That one thing was sales lead management, and Leads360 software solutions represent a clear focus on empowering sales organizations to close more leads. Increasing lead conversion rates is the critical key performance indicator for businesses that sell to consumers. In a B2C environment, individual representatives are juggling a large number of leads and moderate improvements in conversion rates result in tremendous bottom-line impact.
A key requirement for B2C companies is customization, where the software is preconfigured with best practices for a particular industry. Morefield commented, “It’s all about streamlining the lead conversion process by becoming an extension of the sales team.”
With over 4,000 B2C companies leveraging Leads360’s web-based Software-as-a-Service (SaaS) lead management system, the company is both a pioneer and a stakeholder in the growing movement to adopt lead management software. Already a market leader in the mortgage, loan modification, debt settlement and insurance industries, Leads360 is expanding into new consumer industries such as education.
Reflecting on the vision of the company, Morefield says, “It’s very rewarding to be a catalyst for sales and enable our customers to bridge the gap between leads and revenue.”