How companies in India are losing tons of marketing funds through wasted marketing campaigns
Have you ever sent a response to a short message (SMS) code advertised in the papers or on Television? There is a very high chance that you will not get any response.
Have you written to a company asking for product information? Again, high chance that you will not get a response on time. Or on receiving a telemarketing call you have requested a callback later and the call never comes?
These are some of the small ways that companies in India are losing lots of marketing money.
Companies and marketing heads need to put in place a simple funnel management system.
All leads and inbound enquiries should be put into a central data repository. Such a repository can be easily set up on a CRM platform like zoho.com or salesforce.com. Website forms too can be easily integrated on such platforms.
A responsible in-house or outsourced team should be tasked with funnel management. The teams responsibility could be as follows
Collate all the incoming leads and enquiries in a systematic way
Respond to all inbound sales enquires on a timely basis.
Follow through with internal stake holders for example: sales team to ensure that the lead has been followed up on.
Call the customer through a service tracker calls to check if the lead was responded to and if it generated sales.
Set goals & sales target for the team and set up processes to monitor them.
Companies should encourage inbound enquiries, as the chance of conversion is high
And a proper funnel management system will ensure that the company gets results from this channel