Lead generation is a top growth priority for many businesses, according to Gartner. Despite this, nearly 60% of business decision-makers cited lead generation as a top challenge in a recent survey. With so much effort into obtaining those leads, you do not want any to fall through the cracks. Lead management is an umbrella term for the entire process of identifying prospective customers interested in your services, tracking and following up with those prospects, and nurturing them to increase the likelihood that they will make a purchase.
This is where strong leadership comes into play. Learn more about lead management and how to do it in the sections below.
Benefits of lead management software
1. Ensures that all leads are captured
In today’s competitive markets, businesses cannot afford to ignore potential lead sources. And you do not want to miss out on potential customers simply because you do not have a way to capture that type of lead.
Effective lead management allows you to capture as many leads as possible. This includes the following:
- In-person registration at events.
- Leads are generated in person at physical stores or offices.
- Website sign-ups involve the exchange of email addresses and phone numbers for free downloads or other content.
2. Determines which leads are ready to go through the sales process.
The filtering and scoring processes in lead management help ensure that leads that go to in-house or field sales processes are qualified. This usually means that there is a good chance the lead will become a customer or client soon. If a lead is solid, you may want a sales representative to handle it as soon as possible—striking while the iron is hot. Direct sales contact, on the other hand, may feel pushy or intrusive if the lead is still weak or you have reason to believe the person is still in the discovery stage of the buyer’s journey.
3. Keeps and Nurtures Leads Who Are unsteady to Buy
You do not want to throw away potential leads just because they are struggling. Someone in the early stages of the purchasing process may advance to the later stages and become a strong lead in the future. Lead management allows you to keep track of and nurture leads throughout the process. This is significant because being present for the lead inappropriately throughout the buyer’s journey increases your chances of being a top choice when they are ready to buy.
4. Data is provided to assist you in optimising future marketing processes.
Lead management captures a lot of data, which is an often-overlooked benefit. That data can be used to make business decisions that will improve your marketing and sales processes. For example, you may notice that the most potent and qualified leads come from a specific channel. Data is provided to assist you in optimising future marketing processes. You could redirect some of your resources to increase your investment in that channel.
When you have a business, you need the right lead management software to have the proper lead management salesforce.