Objectives and Key Results (OKRs) are a great way to set specific targets for lead acquisition and database growth. For example, an organisation seeking to pursue further business growth could set an Objective to increase the quality of captured leads. Key Results, such as improving data capture accuracy by a certain percentage, would provide measurable benchmarks that the objective is being achieved. The Objective and Key Results provided below serve as an example of what a business might want to pursue during the Prospect Capture stage.
Objective
Enhance efficiency and accuracy in capturing prospect data during the enquiry process.
Key Results
Achieve a 30% reduction in data entry errors within the CRM database.
Decrease enquiry response time by 20% through streamlined data capture processes.
Implement data validation checks to ensure completeness of prospect information.
The opportunity is in the obstacle
Inspired Business Design uses the theory of constraints to identify obstacles that may be hindering you from capturing prospective customers in your CRM database. In our experience, a systematic analysis of data capture mechanisms and processes will typically reveal those bottlenecks that are to blame. By taking a proactive approach to constraints, you can ensure that no valuable leads slip through the cracks and that your CRM database remains populated with high-quality prospects.
These constraints tend to fall under one of the following categories:
Processes
Expertise is required to create an optimal enquiry journey and organise enquiries for efficient follow up. In addition, the design of enquiry forms is often not standardised, leading to inconsistent data capture.
Tools & technologies
Optimal prospect capture requires a CRM automation platform that includes capture forms, a contacts database and the ability to segment your contact records. Incompatibility issues between enquiry forms and CRM systems may result in data loss.
Resources
Finding the right skill sets, training programmes, service providers and the required budget for optimal data capture is no easy task.
Hidden [psychological] obstacles:
Prospects may be reluctant to provide detailed information due to privacy concerns. Alternatively, there may be issues related to how prospects are captured by a certain team, or which prospects are prioritised.