How do businesses increase their sales and engagement? One of the finest solutions would require a multi-channel marketing system that would then be controlled by high-quality lead distribution software and strategy.
Multi-channel business marketing is the key to maximizing potential and clearing the way for continuous growth. Stats prove that internet users, mostly millennials and GenZs, have an average of 8.5 social media accounts. Companies can assess their lead routing strategies only after the successful implementation of multi-channel efforts.
Correctly routing leads is the ultimate deal breaker after all the hard work of bringing in new clients. Let’s dive deep into multi-channel lead routing and explore what it takes to bring it to its maximum outreach potential.
What Is Lead Routing?
Lead routing is a standard feature of lead distribution software. In a multi-channel lead routing system, leads generated from various sources get routed to sales reps and other departments depending on multiple factors and set rules. One of the principal factors is a lead source, whether a website, a social media platform, or a paid ad.
But what’s the real reason behind implementing automated lead routing? AI-driven lead management and lead routing tools can transform a list of qualified leads into actual sales, with an estimated 87% increase in conversion rate.
But what about unqualified or declined leads? That’s when the magic begins. Have you ever heard of a ping tree? That’s a technology built into the best lead routing software. It helps marketers employ specific algorithms and send their leads to the highest bidders (prospective buyers), giving them a unique opportunity to accept or decline them.
Apart from delivering leads where they actually need to go, an automated lead routing system with ping tree technology can help marketers and brands turn qualified and declined leads into revenue. Ultimately, it ensures that every lead finds its buyer sooner or later, leaving no chance to suboptimal distribution.
The Key Channels Used For Lead Capturing
Brands leverage multiple channels to drive more high-quality leads. The more channels they use, the higher their chances of boosting CR and ROI. Research shows that over 50% of multi-channel marketers have recorded an outstanding ROI, which simply proves that businesses have significant chances of hitting their financial targets with multi-channel marketing.
So, let’s take a look at some of these channels:
- Website contact forms: Even though there are many ways to generate a lead with a website form, the general concept is simple: a lead fills out the form, leaving personal information. When the data reaches a company CRM and sales reps, they assess it and contact the lead.
- Social media: Social media is on the rise right now, so much so that 55% of marketers claim that social media is a channel that will most contribute to their business growth. These leads work great with young sales reps who have similar interests and relate to the affinity for social media.
- Referral programs: Leads coming from a referral can be considered already open to a deal, so all that is needed is a sales rep who knows how to strengthen that relationship even more.
- Email marketing: One of the most-used channels is email marketing. However, with spam still striving and the inability of some companies and marketers to take email compliance seriously, it’s getting complicated to generate leads, establish trust, and reach prospects.
How AI Automation Can Simplify Lead Distribution
The development of AI has allowed the enhancement of automated lead routing software, which carries many benefits to the business. So, how exactly is AI used in lead routing and generally in lead management?
The process involves using machine models that intake large clusters of data, like incoming, historical lead data, and sales performance data. It then analyzes the data and accurately predicts which leads are qualified for which sales reps.
Here are just a few benefits of implementing an AI system for lead routing:
|Automated data collection||As data from multi-channels enters the system, AI lead routing technology can automatically enter it in, saving hours of tedious work and eliminating room for error.|
|Appropriate follow-ups||With enough information about lead and behavioral tendencies, the AI system will produce optimal follow-up messages with a time frame included.|
|Predictive analytics||Using historical data, the AI gets smarter and can make finer predictions about future trends, prioritizing high-quality leads and establishing the ideal sales rep for each lead.|
|Personalization||Advanced AI will analyze each lead’s behavior and algorithm to provide a personalized approach and an excellent next step for them, enhancing engagement rates and resulting in successful sales.|
The Main Lead Routing Strategies for Better Outreach
Companies that generate huge amounts of incoming multi-channel leads must introduce an effective system for market lead routing. Here are examples of common lead routing strategies companies use to assign leads to their sales reps:
Lead routing by geographical location is specific to only certain industries reliant on real-world locations. Industries like manufacturing or real estate prefer to assign their leads to sales reps who operate in the same areas for better understatement and more possibilities.
Moreover, 80% of leads are open to revealing their location information in applications if they will get beneficial or valuable service.
Many companies prefer lead routing by-product value, meaning that a lead who can bring high value will get put through the sales funnel first.
While many might have differing views on this strategy, it does work for small businesses and companies low on resources. When a business is short of sales reps, it’s not uncommon to take this lead routing approach — assign high-value leads to company reps and agents before the low-value prospects.
In multi-product companies, the best option to lead routing is by-product interest. While sales representatives can learn the whole catalog of products, the more effective strategy is to have them specialize in a certain group of products.
That will likely impress prospects and leads, making them notice the eager knowledge of a salesperson about a product. That, in turn, will help them feel open to conversations and, later on, inclined to make a purchase.
When incoming leads overflow, a great way to prioritize them is by score, allowing you to close more sales without missing the great clients. Many leads just need that last little push to make a purchase. So, by detecting those leads and scoring them high, sales reps can close the deals with them and then get onto the harder cases, which require long nurturing efforts.
Suppose sales reps’ efforts were not supported by lead routing software. In that case, they’d have to manually sort through every lead data and miss the high-scoring leads while dealing with or nurturing the unqualified or low-quality leads. The score-based lead routing strategy is a perfect way to minimize the turn away from quality leads and still have the chance to negotiate with uncertain leads.
When a lead enters the system, most organizations have enough information and insights to group the leads by character type. For example, these could be customers who need more convincing or are easily influenced. After all, some prospective customers need a lot of information, and others like to keep their conversations straight to the point.
Every lead and prospect must be assigned to a qualified salesperson able to deal with specific questions and requirements and find the best approaches to earn the lead’s trust and complete a sale.
Multi-Channel Lead Routing Best Practices
Regardless of what lead routing strategy you work by, what industry your business is in, or how many leads you retain, here are some of the best practices when it comes to lead routing:
Assign Sales Reps by Lead Journey
As we have already discussed, leads vary by their interest, but another factor you should keep in mind is their place in a purchase journey. Whether they are completely new to your company or somewhat familiar with your products, you must set lead routing rules based on specific criteria. For instance, if retargeting campaigns bring in leads, the system should direct them to reps already familiar with their needs.
Reach Leads Quickly
According to a study conducted by HBR, businesses that respond to inbound leads in less than 5 minutes have a 100 times higher chance of connecting and converting them. If your system, for example, isn’t assigning sales reps to leads fast enough, have a person communicate with the lead and then address them to the correct sales representative.
Complete Missing Data Points
Leads who fill out online forms can be very concise and discreet with information, leaving the sales rep with nothing viable to use in the nurturing process. That is why all companies should consider using datasets to fill incomplete forms with useful information and details. This will help with lead nurturing and assigning leads to sales reps based on certain factors.
A multi-channel lead routing strategy will bring your business closer to reaching its maximum sales and outreach potential. Such an approach includes directing leads from various channels to the representatives who best understand them and can produce the best outcome.
Artificial intelligence has greatly helped streamline processes, automate data handling, and simply result in higher conversions. Companies must implement the best lead routing software to excel in lead routing, choose the appropriate lead routing methods, and employ the best practices.