Customers are the backbone of the business. If a business has a long run it means that demand i.e, consumer/buyer is high. It is necessary to find customers, who are really interested in your product or services. Here in business, we say this potential customer as a lead.
Lead management is the foremost thing taken into consideration for the sales process. Lead is generated by means of various marketing strategies such as advertisements, trade shows, workshops, digital marketing, social marketing, etc. Customers are influenced by several factors such as cultural, social, personal, and psychological factors to get interested in your product. It is the essential part for the business to identify through which the leads are generated and by what factor customers are interested. It is very complex to manage all the leads by scattered information in spreadsheets and it is a time-consuming process. In this competitive world, we should act proactively to win the business.
A productive lead management system results in
- Growth in revenue
- Retain valued customers
- Reach the sale target with reduced salespersons
- Save time to concentrate on other parts of your business as well
- Know lead conversion metrics end to end
- Quickly reach your customer with their interest
- Satisfy your customers with enhanced customer experience
Online Lead Management Software (LMS) is the software developed to manage the leads in all the stages of the sales process. The various stages of Lead Management are,
- Define your Lead
- Identify your Qualified Lead
- Lead processing and Lead routing
- Lead nurturing
- Lead tracker
1) Define your Lead
The lead definition differs from organization to organization. Marketing teams should aim at the right customers or prospects to reach your products/businesses in order to get qualified leads for sales. Leads should be defined in such a way that determines the prospect’s readiness to buy your products/services based on the measure of demographic and behavioural attributes.
- Demographic attributes – It includes the name, contact, email, and address
- Behavioural attributes – It includes the enquiries on the products, showing interest on your webinars, views on your youtube channel, frequent visits on your web page, form filling, showing interest in your products on social media.
Online lead management software features capture all the information like name, contact number, e-mail, address, preferences, and future references of the persons in the cloud. It allows you to manage your leads in a single stream and you can prioritize the leads as defined with the measure of the demographic and behavioural attribute to obtain qualified leads. Once the prospect’s details are entered into the software you are able to access the details from anywhere around the clock. With this online lead management software feature, you can make other activities such as follow-ups, email, set up meetings, payments according to your interactions with your customer.
Read more – Win More Customers With Lead Management Software
2) Identify Your Qualified Lead
Leads are generated through various sources such as advertisements, social media marketing, youtube channels, and digital marketing (like a visit to your websites, Search engine optimization, email, etc.,)
It is most important to identify the source which offers you more qualified leads for your sales. Online Lead Management System automatically allows you to track the lead source through which the prospects come in for enquiries, prospects feedback on your webinar, or marketing campaigns which helps you to understand your target customer. It also helps you in analyzing the lead source which provides you with a high Return On Investment (ROI) and identifying the beneficial marketing strategy worth investing in.
Read more – Are You Identifying Your Potential Lead Source
3) Lead Processing And Lead Routing
Lead Processing is the process by which the lead enters your system and is followed by the sales process until it closes or wins. Lead management software automatically stores the details of the leads which helps to prioritize the qualified leads and forward them to the CRM (Customer Relationship Management ) inbox. CRM in turn distributes the leads and assigns them to the right salesperson (by region-wise, product sales, and so on).
Lead Routing is an automated process by which the qualified leads are assigned to the right salesperson. It also automatically ensures whether the leads are followed up by the right salesperson in a timely manner.
Best sales lead management software helps in Lead processing and Lead routing, through which the lead management is done automatically all the way to the sale process in an organized way. It enhances the lead management effectively without missing any qualified genuine leads. This automatically increases the conversion rate and the opportunity to win / close deals which enhances the revenue of the business.
4) Lead Nurturing
Lead nurturing is the process of developing the best relationship with the leads who are showing interest in your product/service in the mid-stage of the sales funnel. With a Lead Management app, you can determine qualified leads and you can nurture the target audience. Lead nurturing can be done by providing campaigns, demonstrating and educating the qualified leads with the features and benefits of your products. Lead nurturing is an important process after the generation of qualified Leads, we should not miss any of the genuine leads because of a lack of knowledge about the product. Lead nurturing helps the leads to understand more of your products and helps them in good decision-making. This will increase your conversion rate of sales which helps to achieve your sales target.
Read More – Amazing ways to nurture leads and get the best out of your prospects
5) Lead Tracker
Generating qualified leads and converting them into customers comes under great effort. Avoiding Lead leakage is the most important thing taken into consideration during this process. Lead tracker feature in the online Lead Management System allows you to track the leads in these lead stages by which you can avoid lead leakages. Lead tracker allows the sales team to connect your leads in a timely manner to increase sales and achieve the target.
Lead tracking software allows you to track the status of the lead and track the follow-ups made by the sales teams from anywhere around the clock as it is mobile friendly. Lead tracking software also helps you to set reminders for the follow-ups, emails, pending payments, etc., all through your sales process. Using the Lead tracking software enhances the sales productivity of your business.
Benefits Of Lead Management App
- Capturing and storing Leads details in the cloud
- Easy accessibility and flexibility
- Identifying the qualified genuine lead by prioritizing Leads based on the Lead definition of the organization
- Identifying best marketing strategies to invest in to increase leads
- Monitor and track the Leads till the close/win deals to avoid Lead leakage
- Increase in sales Productivity
- Automatic analytics and reports
- Helps in time management
- Enhance customer satisfaction
Lead generation is one of the necessary steps for growing your business, but unless a lead management strategy is introduced, you may not be aware that those latest ideas may hurt you rather than supporting your business workflow.
Lead management is considered to be the backbone of the sales process which is related to gathering qualified leads, those who can reconcile with your qualified audience and taking them through the customer lifecycle as effectively as possible. Having the quality of active and consistent process, challenging you to keep following up with leads as rapidly, segment them accurately, and allocate them to the appropriate sales team members, following up at the accurate intervals. Along with streamlining the way to transformation, an efficient lead management can enhance the customer experience. Therefore, assuring your leads receive relevant knowledge, you don’t unintentionally tick them off with unnecessary marketing content.
As well as it also saves your time and resources by understanding which leads are nearly to get converted which enables you to target your marketing and sales efforts where it is required.
Following the lead management process increases profit by nurturing the right leads with the accurate information, you end up closing more sales, ultimately promoting your bottom line.
Hence, by arranging your lead management process accordingly with the power of automation, it can be a massive self-sufficient relationship formation machine.
Therefore, forming an efficient lead management process would allow you to determine where your leads are in the buyer’s journey and advise them to experience value with your product or service introduced.
Conclusion:
Best Sales Lead Management Software drives your business to the right path with automation and enhanced cloud technology. With this article we understand what is Lead ? and why Leads are very important in our business? Investing in an online Lead Management system is a smart move to organize and manage your leads efficiently. Choose a Lead Management app that aligns perfectly with your process and discover features that can automate your business operations seamlessly. SalesBabu CRM offers top-notch sales Lead Management Software and CRM solutions to help you manage and grow your business effectively. Feel free to request a demo.
