The adage about how much less it costs to keep the customer you have, instead of finding a new one, is even more true in a down economy. Indeed, if the cost ratio between acquiring new customers and retaining old ones was 10:1, today it’s probably more like 100:1, given the relative scarcity of customers with available spend. But what can the service department do to help?
The biggest problem I see with lead management programs? Too often, they’re run by marketing. True, marketing generates the leads, but salespeople have to work with them. And when marketing runs lead management with minimal input from sales, you end up with decent leads that go nowhere. Here are our 10 best practices to improve lead management.