Are you running a small business and facing difficulty in managing your leads? And, you are unable to pay attention to your potential buyers? You should establish a lead management system. A lead management system is about grabbing leads, tracking their activities and behavior, and engaging with them until they are ready to share with the sales executives. Leads are generated by businesses through offline and online sources like websites, emails, chats and webinars, and many more. Every step is essential when it comes to the conversion of lead. For instance, if you will ask why use call tracking?
The answer is simple because it plays a significant role in businesses that make sales over the phone call. It provides marketing attribution data for those sales that occur over the phone.
If we look specifically, we see five significant steps that can help lead management.
- Lead Capturing
- Lead Tracking
- Lead Distribution
- Lead Qualification
- Lead Nurturing
Table of Contents
1. Lead Capturing:
The first stage in lead management is lead capturing. A lead is now entering your lead management software for the first time. These days, leads are frequently created in large volumes. Thus, it is advisable to automate your lead-gathering processes rather than keeping them on an Excel sheet when lead sources (website, PPC, LinkedIn, forms, email newsletter offline events, webinars, etc.) increase.
By having a built-in lead-capturing capability in your lead management software, you may automate lead capture to save time. This will gather leads from the different above-mentioned sources and give them to the sales staff for later follow-up. The sales representative will benefit from time savings and increased productivity, and no leads will be lost.
2. Lead Tracking:
In this stage, you work to determine where the lead came from, where it was captured, when it was acquired, and if it was an incoming or outbound lead. You can use this data to determine and improve the next steps you take to convert leads. An essential step to understanding what is lead management process; you may follow tips using tools like Segment, which not only lets you determine where the lead came from but also assists in analyzing their online habits and behavior before providing their contact information.
A robust lead tracking tool can assist you in keeping track of leads, but if it cannot be associated with your lead management tool, it is of little use. To guarantee that data flows properly throughout your sales process and that you have access to a solid understanding of your leads, it is crucial that all the tools and technologies you use are integrated.
3. Lead Distribution:
It is significant to understand what is lead distribution process and how does it work in business. Leads are set to advance to the distribution step once they have been collected and their website engagements, activities, and behaviors have been monitored. Charges are often forwarded to the company’s sales staff. Assigning leads to sales reps manually can be time-consuming and raise the possibility of lead loss when there are too many leads, so it is a good idea to automate this process.
According to the size of the account, the lead’s place of origin, or the service or product they have expressed interest in, you can assign leads. For instance, because there are numerous nations in Europe that speak different languages, it is crucial to give information from Germany to a sales professional who speaks German as they will be better able to qualify the lead and move it along.
4. Lead Qualification:
Sales staff deal with all of the leads provided to them. A call to the client is made as the first step. By examining what is and is not intriguing about the lead, they should be able to determine very quickly whether to explore the information or not. This is one of the significant benefits of lead tracking system.
Typically, sales managers provide sales personnel with a list of qualities that must be verified for a lead to be accepted. Lead scoring is the name of this procedure. Depending on how many boxes each lead checks during their validation call with the sales professionals, they are assigned a number between 1 and 10 on a scale of 1 to 10. These characteristics could include information on your demographics, your business, how you use the website, and how well you fit in with your hobbies.
5. Lead Nurturing:
Your lead generation activities won’t produce a steady stream of leads with high lead quality ratings. In reality, most of your leads will have a low lead ranking and rarely make a buy right away. The lead is not lost; they may still be potential clients because they may have expressed interest in your goods for several reasons.
It is crucial to maintain these leads in your funnel and to frequently send them info and updates about your merchandise and services. Let’s imagine, for instance, that you have a lead who signed up for your newsletter. This does not necessarily mean the lead is curious about your service; he or she could have subscribed just to receive updates in the future or because they appreciate the information on your website.
To sum up,
The success of a profitable business depends upon the number of conversions it makes through the proper lead management system.