Discover the benefits of an SMR.

5 signs you need a PRM (Prospect Relationship Management)

Have you just added 70 new contacts to your CRM following a webinar? Returning from a trade show with dozens of prospect business cards? Potential customers left their email address on your site this month?

Maintaining the relationship after this first contact is the sinews of war. In a now known Anglicism, this is called lead nurturing. This step is often overlooked. Here’s why it shouldn’t:

  • That first interaction cost you dearly. Think about the price of the stand at your show. Count the time you spent preparing your webinar.
  • Your prospects have short memories and quickly forget about you. Even when they need you. Even when they have shown enthusiasm during your exchanges.
  • The majority of your prospects don’t feel urgency to buy your products or services. It’s up to you to convince them.

How long do you wait on average to revive a prospect? How often do you contact him? What do you do when he disengages? How do you understand their preferences? Do you send personalized messages?

If you dry – or an inner voice whispers to you: « I’m not doing enough » – your prospecting may quickly reach a glass ceiling.

In this article, we will explain how to avoid this through the PRM.

What exactly is the PRM?

Unlike CRM (Customer Relationship Management), PRM (Prospect Relationship Management) is still very little known in the field of relationship marketing. However, the PRM is an effective lever to increase your sales.

The PRM is considered a subset of CRM. More specifically, CRM is used to manage and improve a company’s relationships with all of its contacts: prospects, customers and partners. The SMR is specifically intended to: managing and improving relationships with prospects.

In other words, a PRM strategy allows you to focus on the specific expectations of your prospects. A prospect does not ask the same questions as your customers. He does not have the same problems or expectations. It is therefore much more relevant to build a full-fledged relationship with him.

How do you know if you need a SMR?

Now you know what an SMR is. But is it really worth changing your current operation? After all, you’ve already converted leads into customers without a PRM.

You can totally operate without it. But you expose yourself to the risk of losing many opportunities. Here are 5 situations that should make you react.

You often send the same campaigns to your entire base

A new offer? Any news about your company? You tend to communicate this information to your entire database. Here are two reasons why you take big risks:

  • Your customers and prospects are not receptive to the same information.
  • Your prospects are much more volatile than your customers.

Sending untargeted campaigns to your prospects is likely to disengage them faster. Your prospects are saturated with information. And unlike your customers, they haven’t developed any attachment to your business.

It is therefore important to properly qualify your prospects and accentuate the personalization of the messages addressed to them.

You don’t know the level of engagement of your prospects

Do you know today who are your most likely prospects to buy your products or services? A prospect who reacted to your last campaign is more so than one who has not opened your emails for 6 weeks.

What happens when you don’t have quick access to this information? You’re missing out on hot prospects ready to meet your sales reps. You’re also more likely to lose a prospect for good because you haven’t done anything to re-engage them.

To avoid this, the implementation of a lead scoring system is very effective. These features are present in the Magileads platform.

Your prospects « ghost » you

Your latest lead generation campaign is a success. You have collected many contact information. The problem? Three-quarters of these contacts then ghost you. To use this popular expression, your prospects act as if you no longer exist. This situation demonstrates that your prospecting funnel is not effective.

Do you ensure the right onboarding of your prospects? Have you planned a series of interactions in the days following the contact acquisition? In other words, what do you do during this period when your prospects are at their hottest?

If you have not automated such a process, it is normal that a large part of your prospects escapes you. Using the SMR is a good option to sustainably develop your pipeline.

Your conversion rate is not satisfactory

Are your sales reps struggling to turn your prospects into customers? This can be explained by a poor qualification of your prospects. You can’t identify contacts who are relevant and mature enough to buy your products.

The SMR can be the lever you need to increase your conversion rate:

  • Lead nurturing helps you advance your prospects through the prospecting funnel.
  • You accumulate knowledge about your prospects (progressive profiling) thanks to the history of your interactions.
  • Your sales representatives are better equipped to conduct their appointments.

Thanks to a customizable scoring system, the Magileads platform allows you to build a tailor-made PRM strategy.

Your marketing and sales activities are doing well

The PRM is not only useful when you have a problem to solve! It is above all a powerful lever of effectiveness for your marketing and commercial actions. It saves your teams time and increases their results. The PRM becomes essential for all companies wishing to optimize their prospecting activity.

PRM: how does it work?

For a PRM strategy to work, you first need to generate leads. It is therefore essential to choose effective prospecting methods. In the BtoB sector, inbound marketing has developed considerably. This technique consists of attracting your prospects with content that interests them. There are many possible formats: webinar, podcast, article, infographic, etc.

You must then qualify these prospects in order to differentiate their level of maturity and adapt your communication. This means first collecting relevant information with your contact forms and lead tracking tools.

Once this first information is collected, your prospect is ready to integrate a scenario. A marketing scenario is a succession of actions triggered according to conditional rules. For example, you decide that if your prospect downloads your white paper, they receive additional content a few days later. Before programming these actions, you can create your « Customer Journey Map« . This is a visual representation of all interactions with your prospects.

Note that the needs, position and expectations of your prospects can change along the way. The marketing department must be able to be informed and modify its scenarios. It is important to always make sure that your data is up to date. This is what Magileads guarantees with its dynamic base of 20 million BtoB contacts.

Do you want to implement an effective PRM strategy? Use the tools offered by Magileads

Aware of the need for a PRM strategy , Magileads offers you tailor-made automated tools. These tools help you implement an effective acquisition strategy based on modern marketing tools . These include targeting, database enrichment, animation scripting and scoring of prospects and partners.

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