Lead management commences with introduction of leads from varied sources like website forms, marketing campaigns, social media, tradeshow registrations, etc. Recording tools and techniques come to fore when a lead is generated. A smart tool captures all relevant details like a lead’s region, source, type, background, level of interest, etc. This information is the lead conversion apparatus equipping sales team to be prepared before approaching a customer.
Every business big or small depends on leads. For businesses to grow, you have to convert leads to loyal customers. And to do that right, you need to get complete visibility into sales and marketing leads in an organized manner. In this page, learn everything you need to know about lead management and how a lead management software can help convert leads into customers.
During the lead generation activities, there are various means to reach potential buyers, such as email, website, social media, webinars and paid ads. A good lead management software ensures that every lead is automatically fed into the CRM system from web forms, emails and chat, preventing prospects from falling through the cracks.
Lead Enrichment & Tracking
Be it sales or marketing operations your teams shouldn’t be wasting time hunting for information on each lead or manual data entry.
A software with lead management functionality automatically populates a lead’s profile with publicly available information such as their job title, location, timezone, company name and social media profiles. It can track a lead’s activities on your website pages visited, links clicked, resources downloaded and email engagement.
These valuable insights allow salespeople to understand their intent and personalize sales efforts. It gives your marketing team the much needed context to craft email campaigns.
One way to effectively qualify leads is through a contact scoring model. A model that ranks your contacts based on their interest in your product or service, demographic information, buying journey and engagement with your company.
The predictive scoring model helps you prioritize contacts you interact with by going through historical data and assigning a score to every contact based on factors like job title, website behavior and engagement with your company.
Your team can easily identify the right leads and invest their time in making a sale. A lead management software with AI powered contact scoring capabilities will be highly cost effective and beneficial for your sales and marketing teams.
The sooner your sales representatives contact leads, the more likely they are to win them over. Manually assigning a high volume of leads to the right sales representatives can be time consuming and delay lead response time.
A sound lead management system automatically assigns leads to salespeople across territories on a round robin basis, assigns phone numbers to territories, and transfers calls to sales team.
This way, your sales team can prioritize assigned leads instead of manually searching for new leads in the CRM system. With lead management software, you can also generate reports to identify the territories that bring in the most profit, sales representatives who are meeting targets and potential sales areas to improve.
Not all your leads are sales ready. Many of them could still be in the research or awareness phase, trying to figure if your service would solve their pain points. Lead nurturing seeks to educate and demonstrate the value of your product/service. With a lead management software in place, you can send nurture campaigns to these leads who are not quite ready yet to make a purchase. This is where you educate and demonstrate value through content and promotional offers thereby helping them in their decision making process.
In lead generation systems with every incoming lead a workflow gets triggered. Each phase is recorded along with the status. This business intelligence helps decision makers to monitor and access point of sales for further improvisation.
Generating a lead costs resources and expenditure. When the number of manually operated transactions is high, accounting every expense becomes difficult. An automated software introduces transparency in the system, registering all communication real time. After every activity the system prompts users to update that information. This real time storing of action details keeps the database up to date. All the activities occurring in the system can be viewed through reports.
Automated software solutions eliminate duplicate entries, consolidating authentic data in the central repository. Management can closely monitor leads and measure employee performances. An updated team takes better decisions with clarity. Extensive reports enable predictive forecasting through analysis.