This research was motivated by the lack of systems and methodologies in the automotive retail business sector to adequately monitor and analyse prospective customers' behaviours as a basis for developing sales. The objective of this research was to determine if lead scoring would indeed represent a good investment of time and resources for Barloworld Motor Retail. The real value for Barloworld Motor Retail is in the proven methodology for properly managing leads and the sales process. Lead scoring should have sales teams more focused because of the qualified opportunities. The sales cycle can also be efficiently managed from introduction to closure. What is Lead Scoring? In short, lead scoring identifies or measures the value of a lead to determine to which extent a lead could result in a sale. The aim of the lead scoring process is to gather as much information as possible from the prospective customer. Once information has been acquired, it is important to hand over the hot leads to sales while the warm and cold leads remain with marketing to be nurtured. A lead is a potential customer who wants to learn more about what a company has to offer, and who has acknowledged having a requirement or need that a company could help satisfy. Where this position is coupled with elements of the ideal or desired customer profile, a meaningful lead definition emerges. When a salesperson receives a lead as depicted in Figure 1, the decision must be made as to whether to promote the lead into an opportunity or recycle it back to marketing. The crucial determination would be whether the prospect is ready to enter a buying cycle, or not. Figure 1 also illustrates the lead scoring "evaluation" process. The researcher used the Barloworld Automotive www.mywheels.co.za Webpage to obtain information for this research project. The results obtained from this measurement were compared with the results obtained from other marketing initiatives and practices in the automotive industry to describe the value of lead scoring. This research is undertaken under two main headings, namely marketing and evaluating a lead management system by introducing lead scoring. In reference to marketing, Albee (2010) says that lead scoring is based on marketing that can automate the ability to know exactly when the leads in the nurturing program are sales ready and then transition them to the sales force without delay. Chekitan and Schultz (2005), introduced the notion of SIVA which stands for Solution, Information, Value, and Access. This is basically the four p's of the marketing mix, namely product, promotion, price and placement Kotler (2000) renamed and reworded to provide a customer focus. Marketing managers use this model to generate the best possible response from the target market by blending four or more combinations in the best way. The elements of the marketing mix are all controllable variables. The marketing mix can be adjusted on a frequent basis to meet the changing needs of the target market and the other dynamics of the marketing environment. The study of internet consumer behaviour is a fundamental part of the gathering of information related to lead scoring. To an extent it is also relevant to the formulation of a leads nurturing model that will positively influence buyer perceptions and help to trigger the purchase decision. With regard to the purchasing of motor vehicles, consumers will seldom make a purchase decision without personal exposure by way of sensory explanation (look, feel and touch). Internet marketing connects the physically remote consumer with the product benefits through a process of abstract positioning, and focuses on obtaining "hits" from consumers who are competent and enabled to make a positive purchase decision. Internet marketing refers to the strategies that companies use to market their products or services online. The marketing concept remains the guiding concept for companies wishing to design and implement an effective leads scoring system. Lead scoring is the process that involves the following activities: • Lead identification; • Lead collection and consolidation; • Predictive analysis of lead scoring; • Lead nurturing; • Lead distribution.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:rhodes/vital:779 |
| Date | January 2012 |
| Creators | Waddell, Alda |
| Publisher | Rhodes University, Faculty of Commerce, Rhodes Business School |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis, Masters, MBA |
| Format | 98 leaves: ill, pdf |
| Rights | Waddell, Alda |
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