Has Your Demand Waterfall® Gone Green?
- There are specific operational considerations for recycled demand management related to both data and process
- Programs and processes for recycling demand are necessary for maintaining the overall health of your Demand Waterfall
- Ensure that your lead management processes support recycled demand management
Finding ways to “go green” has become part of daily life for many people. From recycling, eco-friendly packaging and natural products, to electric cars and solar-powered homes, there are countless ways to be more environmentally responsible.
When it comes to lead management, there are plenty of opportunities for implementing responsible “green” lead management processes. SiriusDecisions benchmarks show that only 8 percent of leads that reach the automation qualified lead (AQL) stage make it as far as pipeline (sales qualified lead [SQL]), so there’s ample opportunity for recycling. Programs and processes for recycling demand are necessary for maintaining the overall health of your Demand Waterfall® – and to ensure that you’re making the most of your marketing investments.
When it comes to determining which leads to recycle, along with when and in what way, you need the following data: Demand Waterfall stage, timestamps, status, most recent demand source and lead score.
Let’s walk through a scenario. A sales rep has disqualified a sales accepted lead (SAL) after learning that budget has been lost. The rep updates the status field to “disqualified” and includes the budget-specific reason code. An active recycled nurture later re-engages the lead and drives new responses that trigger re-entry into a new active buying cycle (demand cycle). There are multiple processes, fields and workflows that to manage in order to support this recycling effort. Below are some of the specifics:
- Status.The status should reflect the Demand Waterfall exit reason with associated reason code until the new demand cycle begins. As an example, the status is equal to “disqualified” until the new demand cycle begins. The status would be updated to “inquiry re-engaged.”
- Waterfall stage. When exiting a demand cycle, the Demand Waterfall stage should be reset to “prospect.” Upon re-engagement, the Demand Waterfall stages will update to reflect new progression through the Demand Waterfall as part of the current active demand cycle.
- Waterfall timestamps. It’s critical to document the lead’s arrival and departure dates across Demand Waterfall stages in a given time period. The “passport” view aggregates lead behavior, counting the total number of arrivals to each Demand Waterfall stage for a defined group of leads during a defined time period. This analysis provides the baseline for determining conversion and velocity metrics used for performance management, diagnostics, forecasting and planning.
- Most recent demand source. This score eflects the current source of the active demand cycle. Demand source is updated when a new demand cycle is initiated and a lead re-enters the Demand Waterfall.
- Score.There are multiple options for adjusting a lead scoring strategy to address recycled lead management.
Adopting a “go green” mindset at home and in your Demand Waterfall provides an enormous number of benefits. Ensuring that your lead management processes support recycled demand management is a requirement for healthy Demand Waterfall implementation – both today and tomorrow. Let us know if you’re interested in a Demand Waterfall heath check!