The ‘Shelf Life’ of Web Generated Lead Events

I go to your website after seeing an advertisement on another site. After learning a little more about your company and your capabilities, I give you my personal contact information through some sort of registration process as I have an interest in what you do. A day or two passes by and the memory of my visit to your website quickly fades as I have probably been to several other websites. Maybe seeing something on your website prompted me to start researching similar companies to see if their capabilities match or exceed yours. Maybe I registered on their websites too. A week passes and I’m heavy into my analysis for the next project that I am working on. Two weeks removed from my visit to your website and I’ve moved on to my next phase of my project. 23 days after my visit to your website I get a telephone call from one of your sales professionals asking about my interest in your company. She is disappointed that not only did she have to explain to me who your company is but to also hear that I’ve since made a purchase from one of your competitors.

In the new millennium the selling landscape has changed dramatically in favor of the customer. The Internet has erased many boundaries that once existed for us in terms of the amount of ‘pre-purchase’ research we can do. This includes, and is not limited to, price comparison, product comparison (measuring one product against a similar), value-added services (Warranties, maintenance, freebies, etc…), availability, and even finding out what other buyers have to say about it.

Gone are the days when we have to buy what was stocked at our local store/distributor. And when we were only aware of what was being promoted in a favorite magazine or on TV. Gone too, are the days when our local sales rep was the trusted source of all knowledge encompassing “that product”. Heck, even the days when we were loyal to a specific brand are history. We do not live in that world any longer! Today, we have the power of research at our finger tips and most of us leverage it whenever we can. We, as consumers in just about every realm of the buying world (whether in B2B or B2C), are empowered with the ability to make smarter buying decisions. What’s more powerful than that? Well, how about the notion that we can pull the trigger on a purchase when WE are ready?

All of this plays into the scenario above. With all of the power that we as consumers have in decision making, there are fewer opportunities to get in front of us buyers during the “Selling/Buying Cycle”. The fact is in challenging times the buyers are further apart and harder to get to. What surprises me is the lack of effort that XYZ’s company extended in trying to win my business. They had all of my contact information, knew what I was looking at, and had the opportunity to immediately market or sell to me in a One to One setting. They failed miserably in seizing my attention at a point in time when I was interested in their products. They failed in either not training the Sales group to be more diligent in following up with their ‘leads’ in an expedient fashion or they failed in waiting 3 weeks to act on my interest.

Let’s flash back ten years to 1999. If I was interested in a your product I would call an 800 number from an advertisement in a magazine, call an 800 number that was on a television show, or stop by a local store. In all aspects I would engage with a person who would then have my attention and answer my questions and then direct me through a ‘controlled’ buying process. Today, if I have an interest after seeing an advertisement in a magazine or on TV I can go to several destinations on the Internet, learn what I need to about the product, and buy it whenever and wherever I want..

I posted a poll on LinkedIn for 1 week between March 31, 2009 and April 7, 2009. The poll asked the participants how they would compare a fully registered website generated to the following types of Lead Events:

A Purchased List Lead
A Trade Show Lead
A Call-In Lead
A Walk-In Retail Lead

http://polls.linkedin.com/poll-results/30210/xazce

Not the most scientific poll I agree. It generated 169 responses and was accessible in Groups where Sales and Marketing Professionals frequent. The resulting answers did not surprise me any. 58% Compared a website generated Lead Event to either a Call-In or Walk-In Lead. Moreover, 91% compared website generated Lead Events to a Trade Show Lead or better. NINETY-ONE Percent!

Now, would you wait 3 weeks to call on or market to any of those three Lead Events? Believe it or not, this is not an uncommon story. Many companies do not put enough effort behind the follow up of website generated Lead Events. Unfortunately, most businesses lack a clear cut method or campaign that addresses people that are raising their hands and expressing an interest in the very products that they’re marketing.

This is not to say that everyone that comes to your website or generates these types of Lead Events is coming to your door with a bag of money in hand wanting to buy 6,000 widgets. What it does signify is that these people have intent and interest when they arrive at your website or the portal that provides these Lead types. They’ve given you valuable information in exchange for your information and hence the sales cycle begins (Or should begin).

Companies will spend thousands of dollars to buy lists of people who may or may not have an interest in their products or services only to spend thousands more dollars to market to these maybe or maybe not interested people. Companies will also spend tens of thousands of dollars in marketing to drive people to their website and still approach any lead generation with lackadaisical enthusiasm if any enthusiasm at all.

This ailment doesn’t necessarily limit itself to marketing departments; it permeates the sales division also. All too often the Sales Professional will pick up the telephone on a website generated Lead Event and bluntly ask the prospect “How many do you want to buy today?” Without any sort of qualification, they assume that the person had their wallet out while they were typing in the web address. As with any Lead Generation, Sales Training is important when following up these Lead types. Understanding the motive or intent of the prospect is critical. How did they get there? What did they do while they were there? How does the complexity of your sales cycle influence the type of sales messaging? (If you’re selling valve actuators to the municipality industry your sales cycle is far more complex than someone selling golf clubs)?

These Lead Events can offer a ton of value in the long term as well. With each prospect you are growing your ‘House List’ and increasing the breadth of your pipeline. In challenging times like we are experiencing today, a substantive House List can impact the bottom line with less dollars being invested into external marketing. (See my blog ‘2009 – the Year of Frugality ‘)

In 2009 the buying process has changed. The buyer is now in control and the longer you wait to address them after they have expressed interest you are going to lose the sale. The Shelf Life of a website generated Lead Event is as long as the attention span of an interested buyer:

It lives as long as a gallon of milk left on the breakfast table in direct sunlight.

My two cents…