Every potential client is unique, and so is the approach needed to convert each lead. To maximize your chances of turning prospects into paying customers, you must assign each lead to the most compatible sales rep.
For instance, a lead who owns a small business should connect with a team member experienced in converting similar prospects.
This is where lead routing excels.
Lead routing assigns leads to salespersons best qualified to convert them. Techniques like service-level agreements (SLAs) and lead-scoring systems ensure accurate routing.
Implementing these methods takes time and requires continuous refinement. Teams need to understand the benefits of lead routing to approach it with the right mindset and remain dedicated.
In this article, let’s look at four ways lead routing can boost your firm’s revenue growth.
1. Improved Lead Quality Matching
Lead quality matching refers to connecting a prospect with a sales rep they trust. Generally, this is done by looking at which salesperson is available and assigning them new leads accordingly.
Although this can be considered efficient in terms of task management, it is far from that for driving revenue growth. Just because a sales rep has the bandwidth to nurture a lead doesn’t mean they are the right person to do it.
Lead routing improves lead quality matching by using criteria such as geographical location, industry, lead source, and product interest to distribute leads. This targeted approach ensures that leads are matched based on factors that increase the likelihood of conversion.
This will make it easier for sales reps to craft personalized messages and offers for the prospect. They can accurately evaluate the lead’s local market nuances, preferences, ambitions, and pain points.
Consequently, the likelihood of engagement with the nurturing messages increases. Prospects will be more open to going through articles, case studies, and demos shared by a rep located in their vicinity.
As a result, salespersons can look forward to increased authority and credibility. This can streamline the purchase process further down the road. It can also result in a larger deal size and long-term retention.
2. Optimized Use of Data
Thanks to digital technologies, most companies can collect audience data easily. However, this usually doesn’t translate into decision-making workflows that are validated by this data. A lot of the gathered information often sits in the server unanalyzed.
Lead routing changes that. Due to the salespersons’ expertise in dealing with a certain type of prospect, they are more likely to dive into these data points for insights. This will allow them to further solidify their understanding of the prospects’ needs.
Whether it is sending nurturing emails, providing a live demo, or providing a quote, they can make data-backed decisions.
Additionally, by analyzing the engagement levels of the leads and drawing from their past experiences, they could also predict the likelihood of conversion for the prospects that are currently in the sales funnel.
On an organizational level, this improves the accuracy of pipeline forecasting. Teams can predict their revenue for the current quarter. It can make the sales workflows more agile and proactive.
For instance, let’s say the revenue predictions fall short of their goals. Sales teams can immediately start looking for areas of improvement in their nurturing campaigns. This will help them pivot their strategies to optimize conversion rates and deal sizes.
Furthermore, this also enhances the learning of the sales team about their target audience, which can help them refine their strategies for the upcoming quarters.
3. Higher Efficiency and Productivity
Lead routing ensures that sales reps receive prospects that are well-matched to their skills and expertise. This can move your potential buyers through the sales funnel faster, optimizing the time required to convert.
Moreover, the salespersons can focus on high-priority leads as they can more accurately assess their readiness to purchase. Sales teams can look forward to larger deal sizes apart from an increased pipeline velocity.
Another way sales teams can improve their efficiency and productivity is by automating processes around lead nurturing and conversion.
Lead routing is a data-backed process as we discussed in the previous section. The same data points can be used to set up triggers in CRMs and communication tools. For instance, sales reps can leverage prospects’ information to send automated follow-up emails.
The degree of automation you want to incorporate based on the data you used for lead routing depends on the resources available. If the sales team is allowed to use LLM chatbots, let’s say, they can automate the process of writing and replying to emails as well.
4. Enhanced Customer Experience
Today, customers expect a personalized experience throughout the buyer’s journey. Whether it is educational emails, text updates, or product configuration, everything needs to be custom-tailored.
Apart from the customization of content, speed and accuracy are also essential to deliver an enhanced customer experience to your leads when they convert. The prospects should be attended to quickly and the sales rep attending them should have all the right information about them.
Lead routing facilitates all of the above by ensuring that leads are promptly attended to by the right sales representatives who can provide personalized solutions.
When leads are routed to the appropriate sales reps, they receive more relevant information and a higher level of service. This personalized approach not only improves the likelihood of conversion but also enhances overall customer satisfaction.
Businesses can look forward to higher customer lifetime values (CLTV, which is essential for boosting revenue and keeping the cash flow healthy.
Wrapping up
Lead routing can help firms boost their revenue growth by:
- Connecting leads and prospects with sales representatives who are best equipped to handle their accounts
- Using audience data to predict the likelihood of conversion and revenue to optimize strategies as necessary
- Converting prospects faster by prioritizing them accurately and setting data-backed automation triggers to move them quickly through the sales funnel
- Delivering a personalized experience to leads, making them satisfied customers with higher CLTV and retention rates
It is essential to learn about the above advantages as developing a lead routing workflow requires continuous iteration over time. As you refine your lead routing processes, ensure that you remain data-backed and closely measure the revenue metrics to track impact.
