How to understand the lead management process
It is imperative to understand that lead management’s primary objective is to give the customers the information they need to continue through the funnel.
Did you know that most organizations still resort to methods like spreadsheets to manage and track leads? The process is extremely inefficient and can hamper the conversion of approximately seventy percent of leads. A dedicated lead management system from Phonexa is necessary to apply strategic techniques to get new leads and make sure maximum leads reach the final conversion stage.
So what do we need to understand with lead analytics and lead management? A lead can be an individual or organization that could be interested in your product. On the other hand, lead management is the methodology, process, and software used to reach prospective customers and convert them into potential customers. This can be done using targeted sales and marketing strategies. Lead management covers every sales technique used to capture and convert leads; this makes it broad. It can be done manually, but it is recommended to use a digital platform, especially the one which can plug into your blog on one end and your CRM on the other end to create a continuous data lifecycle.
To understand the lead management process, we will look into four stages and suppose you have chosen to use a digital platform; the entire process can be automated and improved by the use of analytics and artificial intelligence. For proper management, the lead needs to be:
Phonexa commences with the automated capturing of leads and can use websites, social media, and email marketing to paid add. We can also use telephonic conversation in the case of the B2B sector. We then fed the details into the tracking system via automation. Now we can track the behavior to intensify the interest in the product further.
In the lead generation process, the step is relatively simple. After the leads have been captured and tracked, you rout the details to the relevant sales team. For instance, you can create separate executives for small to midsized enterprise customers and another for different vertical, and lastly, location-specific sales teams. And remember, the faster you contact a lead by sales, the higher your chances of conversion.
This step used to be handled manually. It relied on marketers and sales executive marketing experience and personal expertise. Now technology can be used to monitor traits and parameters defining leads and auto qualify them with the right label. Just so you know, with a powerful lead management tool, a quality score will be assigned to every lead, and this is based on your ideal customer persona as well as the collected data from lead behavior tracking. With the lead qualification, you will significantly cut down the time you use in follow-ups.
Did you know that a qualified lead will inevitably turn into a successful sale in an ideal world? However, this is not always the case considering that the leads may begin to lose interest or even change their minds about the product requirement, not to mention being attracted by the competitor. So it is your job to nurture these ‘warm’ leads to ensure conversion carefully.
It is imperative to understand that leam management’s primary objective is to give the customers the information they need to continue through the funnel. If the leads are not adequately quailed, the customers can receive information in duplicate forms. Some may even be non-relevant. Therefore, you should efficiently manage leads, whether it is a CRM or other B2B generation strategy. For an online business, consider reducing manual work as it can improve customer experience.
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