Without the right lead goals, your marketing and sales process falls apart.
If your goals are too low, you will obviously land short of your revenue target. However, high lead targets can also result in wasted resources. With too many leads individual prospects will not get enough attention, or you will waste money on leads that cannot be worked in a timely fashion.
In this LeadGenius Whiteboard video, Anand Kulkarni, LeadGenius Co-Founder and Chief Scientist helps you answer the question, “how many leads does my sales team need?”
Regardless of your team size, or how established your sales process, it’s always worth revisiting the math. For a healthy pipeline, know your totals, conversion, rates, and monthly projections back and forth.
You might be surprised how many sales leaders don’t review these numbers with their team. You might be surprised how many marketing leaders and sales leaders are working with different sets of numbers or different assumptions.
Do this analysis and you will have a leg up on competitors that simply do not take the time to consistently revisit the math.
The variables are simple:
- Sales target
- Average deal size
- Conversion rate at each lead stage
Working backwards from Closed-Wons to lead count doesn’t require MBA-level math. It doesn’t even really require a spreadsheet As long as you have accurate data, your projections will be realistic and practical.
Tinker and re-examine your own numbers. Look for opportunities for improvement. Experiment with best and worst case projections as each stage of the funnel.
If you have reliable data, you can be confident you’re providing your sales team with the adequate number of leads to reach your sales target each month.