Managing Leads: Associate a Cost to Hot Leads

According to recent trade show research, exhibitors spend an average of $113 for each potential customer who enters their trade show exhibit, and an average of $197 for potential customers who interact with a staff member in the trade show booth. This makes each lead gathered a very valuable commodity and one that shouldn't be wasted. Instead of just handing out your leads to the salesforce or to your dealers/distributors, consider charging them a fee for each lead you give them.

This amount could be fully reimbursable once a sale is made, or you could arrange for a partial refund, for example, 50 percent. By doing this, you raise the value of the lead, and your sales people pay more attention to following up promptly. It's critical though that each lead handled this way is properly qualified. If a sales person finds that the prospect is only interested in literature or a sample, your plan will fall apart very quickly.