Lead management is a multi-faceted process that seems a strong asset for business growth, the reason being its ability to generate leads and increase sales. In a lead management software, lead generation is an important asset to keep your pipeline fresh and filled with new prospects.
When CRM software is in your to-do list, lead management comes by default as an integral part of sales. Without leads, CRM is of no worth as you will probably miss qualified opportunities and in parallel, satisfied customers.
A lead management software actually performs an efficient process of tracking and managing prospective customers. It can also be understood as the customer acquisition management with multiple aspects involved together.
Let’s dig deep into it.
Different Processes Contained in Lead Management Software
- Lead generation, where businesses prompt customer’s interest for their offerings through a plethora of activities such as blogs, advertisements, white papers and social media.
- Customer inquiries, where data is recorded to create sales lead.
- Filtering, to sort leads and then disperse to the sales team for contact.
- Nurturing, where sorted leads are scheduled for follow-up and put into drip-marketing campaigns.
During the course of managing leads, brands came to know which tactics bring them the best kind of leads. So, it is good to optimize your sales strategy to make it efficient enough. As an additional segment, a precise lead management software explore how a person has been transformed into a lead or customer from a mere prospect.
Necessary Elements of Lead Management
A lead management software system can be broken down into 5 major components-
- Prospect tracking: Prospect tracking tool is available in many CRM solutions as the means to see who visited your website and up to which pages. There is also a flexibility to check if several people from the same organization have interacted with your site. It is an important aspect to monitor B2B sales.
- Lead intelligence collection: It comprises everything you discover and learns about the leads via form submissions, email marketing analytics, website page views and social media interactions.
- Lead scoring: Each organization demands to organize and rate their leads in the context of sales readiness. This scoring leads to a healthy lead flow and gives support to proper timing of lead hand-off to your sales team.
- Managing customer relationship: CRM software is quintessential to manage your relationships with customers and leads. This creates a powerful and automated closed-loop reporting system.
- Ongoing lead nurturing: It is not always necessary that prepared leads are meant to buy the moment they are generated. But, sensing their importance in long run, it’s necessary to build a relationship with them; providing them with the right content at the right time. With personalized and relevant content, there is a scope to move further in order to reach sales readiness.
What You Get
With an effective lead management software, you are benefited with-
- Wide lead conversion into actual opportunities
- Marketing campaign tracking over multiple communication channels
- Allocating leads to the right people
- Better decision-making about where to invest
- Analysis of marketing activities and its impact on sales pipeline