Developing and Implementing a Lead Management System

Lead management requires careful planning and execution prior to, during, and after a meeting, show, or convention. Lead management cannot work unless the marketing and sales departments work together to create and implement a strategy and plan to, among other things:

• define the criteria for a “qualified” lead,
• capture and document relevant attendee information,
• establish post-show follow-up expectations with attendees,
• distribute leads and follow-up in a timely manner, and
• monitor and track results.

If the sales organization does not commit, prior to a show, to take action on the leads after the show, both in terms of follow-up and tracking, attending the show may be more of a negative than a positive marketing/sales activity. Successful lead management occurs only when the sales and marketing departments work closely together prior to, during, and after a show to create and implement a strategy and plan that both groups commit to and act upon. The balance of this article provides step-by-step suggestions for developing and implementing a successful lead management system.

Step 1: Quantify your Goal

To quantify your goal, calculate how many hours each person staffing your booth will work and multiply this number by the number of leads each will probably generate. (A general rule of thumb suggests that each person will generate two or three qualified leads each hour.) If you have worked the meeting or show before, check your previous results, compare them with the number you just calculated, and adjust accordingly.

Step 2: Define a Qualified Lead and Create a Lead Form

Marketing and sales often have different definitions of a qualified lead. Marketing generally describes a lead as qualified tf it fits a demographic profile, whether there is a current sales opportunity or not. Salespeople often define a qualified lead as one that fits a demographic profile and where there is (or will shortly be) a viable sales opportunity. The following are among the questions that salespeople usually ask to qualify to determine if there is a viable sales opportunity:

• What are the goals, problems, and needs associated with the opportunity?
• What is the size of the opportunity?
• Is there a budget for the project, and, if so, how much?
• What is the timing of the opportunity?
• With whom are we competing?
• What is this person’s role (decision maker or decision influencer)?
• Who else is involved in this decision (buying team)?

These types of qualifying questions, in combination with other questions that might be appropriate, should be part of your lead form. A suggestion is to meet with and discuss the form with the salespeople who will get the leads after the event. Ask them which of the questions meets their definition of a qualified lead and which are the most important qualifying questions to ask? What would they like to know about new prospects? Most importantly, what would motivate them to follow up? Their input before the show will help you get their support after the show.

Step 3: Pre-Show Promotion

Use pre-show promotions to attract pre-qualified prospects (those that fit your demographic profile/target audience) and existing customers to your booth. Ask your salespeople to provide you with a list of existing customers, prospects with whom they are in dialogue, and targeted prospects. If they give you the names and these customers and prospects attend the meeting or show, there are two benefits. First, it will create sales opportunities and second, it will improve the attitudes of your booth staffers who personally derive greater value from the time they have invested in the booth.

Step 4: Train Your Booth Staff

Prior to the show, teach your booth staff how to use the lead form. Make sure they know how to ask the qualifying questions, record the required information, and process the lead form after it’s been completed. Role-play to ensure that your staff is comfortable with the process. Also, make sure they know what your plan is for post-show follow up so that they can set the appropriate expectations for how your company will follow up after the event is over.

Step 5: Measure and Motivate

Reward the people who are putting the most energy and effort into the show. A complementary letter to the staffer’s manager or a small financial reward can be very motivational. Create a contest (incentive) that everyone can win by reaching graduated productivity levels. Competition for a single prize, such as one awarded to the person with the most leads, can create friction in the booth and detract from the team spirit.

About the Author

Keith Reznick is a sales trainer and president of Creative Training Solutions. He may be reached at 856-784-3466 or keith@creativetraining.com.

Keith and partner Ed Jones recently created two important cost-effective (less than $300 each) training tools designed to help your exhibit staff provide the experiences attendees want and the results your company expects. Learn more at www.tradeshowadvantage.com.