Lead management is a multi-step process that handles the conversion of sales leads to customers. It’s the process of managing and tracking customer touch points throughout buying journey, from the first contact to close.
The five major stages of a lead management process include the following:
- Lead capture : Get inquiries/leads into a centralized database for converting, qualifying and nurturing.
- Lead qualification and scoring : To determine readiness (Are they a fit? Are they sales-ready?).
- Lead nurturing : Progresses your early stage leads from interest toward purchase intent.
- Lead routing : Handing off only “sales-ready leads” that meet the universal lead.
- Lead attribution and reporting : Closing the loop between sales and marketing.
Do you have your process for each of these steps documented and understood by key stakeholders? If not, start now.
Many marketers hope that buying marketing automation will drive better lead management processes. You need more than technology to optimize lead management. There are fundamental aspects of lead management that often get overlooked.
Have you looked at your lead management approach from the perspective of customer experience? If not, here’s why you should :
The average conversion rate of marketing qualified leads to customers is low. You may be wondering: how low ?
According to Forester, top performers convert 1.54% of marketing qualified leads to revenue. This means almost 98% of people who start the customer journey are lost.
Benefits Of Lead Management System:
- Distribute leads automatically : Predefined workflow rules let you assign leads to sales reps based on geography, product, or department. You can also use round-robin queues to route leads equally and optimize follow-ups. Ensure that you do not miss out on leads just because of improper customer engagement methods.
- Better lead engagement through Prioritization : Dealing with a large number of leads every day makes it difficult to determine which are the right ones to focus on. CloudShope Lead Management feature lets you prioritize your leads at different levels, i.e. Low, Medium, High, Critical to ensuring faster conversions. Set them individually, or make a combination. If leads from a particular industry are where you want to direct your attention, or if trade shows are a promising avenue for your business, assign a higher priority to those leads.
- Categorization of various fields: This feature allows the easiness in work, and hence optimize the productivity. A lead Management System should include the following features:-
- First Date
- Last Time
- Convert leads to deals : When leads are willing to buy your product or service, turn them into deals with just a click. While converting, also create follow-up tasks. For running a successful and optimized business or a startup lead management System proves to be a milestone.