Written by Abby Drexler, Sr. Digital PR Specialist, HigherVisibility
Read Time: 4 Minutes
Sales leads are the lifeblood of a business. In fact, they are necessary to achieve revenue growth initiatives. Without sales leads, your business will remain stagnant. On the flip side, solid leads can expand your customer base and boost sales revenue. It’s important to understand that roughly half of leads obtained through marketing are not sales leads. This is where lead validation comes into the picture. Check out the information below to get a better understanding of lead validation, including why it’s necessary for your business.
What is Lead Validation?
“Lead validation is the process of verifying and scoring the quality of the leads you generate.“
Lead validation involves separating non-sales leads from sales leads. Marketing generates different types of leads that have either little or nothing to do with sales. This includes customer service calls, inquiries from job applicants, and spam messages that make it past your lead scoring criteria but still aren’t true leads. Lead validation will help you understand the real value of marketing efforts and accurately track qualified leads from channels like social media, pay-per-click and search engine optimization.
Developing and executing a marketing campaign requires a lot of time, money and effort. These efforts can become ineffective and unchecked if you’re not tracking ROI to ensure your efforts have value. Determining the effectiveness of your marketing efforts can also help you adjust your strategy as necessary. Marketing trends are constantly evolving and it’s often necessary to pivot based on search engine algorithms and industry changes.
Benefits of Lead Validation
There are many benefits of lead validation. For starters, it makes your sales team more efficient because they won’t waste time on non-sales leads. Sales reps can put all of their efforts into following up on validated leads, which will inevitably result in more closed sales because their focus isn’t split or precious time wasted. Consequently, resulting in a surprising boost in sales revenue just by eliminating non-sales leads from the start.
Validating leads can also give you a chance to strike while the coals are hot instead of waiting until a lead has grown cold. When sales reps know they have a hot lead, they are often more eager to follow-up, which is partially why sales revenue will often increase. Simply put, lead validation can help you cultivate an eager and high-performing sales team.
The benefits of lead validation go beyond sales. There are also benefits for your marketing team. Marketing campaigns will become more precise and effective when you’re able to identify exactly what’s working and what isn’t working. As previously mentioned, marketing trends are constantly evolving. As a result, they should be examined based on real data. The best decisions in marketing and every other area of a business are data-driven decisions. Poor data costs companies an average of $15 million per year.
Value of Data Accuracy
Lead Validation will enable you to obtain more precise ROI data. This will assist with budget projections, which impacts many aspects of operations. For instance, you can make sound personnel decisions with the information gathered. Since you have accurate data concerning past marketing campaigns, you’ll know how to allocate your budget to yield desired results. This certainly doesn’t mean you can predict the performance of a marketing campaign, but it will get you closer than you could get without lead validation.
Top Technologies to Improve Lead Validation
Lead validation is simply a way to use data for the purpose of making informed decisions that can significantly impact the success of your business. Let’s face it, sales can be a challenging aspect of business and continuous improvement is imperative. For every industry, it’s important to maintain a competitive advantage. As technology evolves, more businesses are using machine learning and business intelligence tools to advance their mission and enhance their data. Considering this fact, lead validation is a wise business decision. Companies like the below offer leading-edge technology to provide you with the information needed to meet your sales targets and long-term business goals.
- Zoominfo Powered by DiscoverOrg – combines the world’s most comprehensive business database with a 360 view of customers, prospects, and opportunities
- Clearbit – automated data enrichment platform
- Service Objects – real-time API for lead validation and enhancement
- InsideView – AI-based B2B data intelligence platform
- Lead411 – trigger-based sales intelligence platform with rich contact data
- UpLead – is a B2B contact database and verification platform