Everyone wants leads, leads, and more leads. But are people considering the number of irrelevant leads they get and the resources they have to waste to wade through them? Are more leads necessarily better? Rami Jaulus, NGG’s CEO has the definitive answer
The natural inclination of organizations is to think that the more leads the better. Well, that’s not necessarily the case. To create a flow of leads and customer interest, companies invest in advertising that creates awareness and publicity, which hopefully lead to customer interest. Customers go to the branches or the stores or call the company’s hotlines and service centers and some contact the company through the website. All of these generate organizational activity necessitating an investment of resources.
Traditional advertising is very costly, and its accuracy level is a question that has no clear answer. No one really has the capacity to identify the connection between advertising and the number of leads it generates. Rather, it is a broad brushstroke that creates positioning and awareness, which are in and of themselves important but not necessarily accurately targeted. The leads generated my create a flurry of activity, but much of it will be irrelevant and ineffective, and necessitate both prioritization and nurturing.
The more leads you get, the more you have to invest in resources to handle the funnel of leads at increasingly higher ratios.
The challenge companies face is how to create a controlled, well-managed system in which the number of leads coming in will allow effective funnel management with a conversion rate suited to the organization’s ability and resources. The stress is on the right number of right leads given a defined amount of resources suited to the organization’s needs. In this case, more is unequivocally not better. We don’t pursue every opportunity, and a bird in the hand is always worth more than two in the bush.