What is a Lead Management?

What is a Lead Management

Leads are essential for large or small businesses. It should be converted into loyal customers for businesses to survive and grow. And in order to do so correctly, you must gain total insight into sales and marketing leads in an organised way. In this article, we will learn everything you need to know about lead management and how lead management software can help you turn leads into customers.

What is a Lead Management?

The process of collecting and managing leads (possible customers) until they complete a purchase is referred to as lead management. This is a more extensive procedure than traditional advertising and is best suited for ecommerce shops that build individual relationships with customers.

Lead management is not to be confused with lead nurturing, which is a subset of lead management that occurs near the end of the process.

Why lead management is important for online businesses

The primary goal of lead management is to provide customers with the information they require to go through the funnel. When several components of a company’s marketing organisation are out of sync, or leads are not properly qualified, customers may receive duplicate or irrelevant material, thereby killing an already on-track conversion. Simply managing leads efficiently, whether through a CRM or another B2B lead generating method, lowers manual work for an online firm and improves the customer experience.

Steps to manage leads

Lead Generation

The initial step of the lead management process is advertising and getting leads. Nothing can be done till potential customers have been approached.

Customer Inquiry

When a customer responds in some way, it indicates that they are interested in your product and offer. In most cases, this happens when a customer clicks on a link. From here, the actual process of management begins.

Identity Capture

Some of this data is available via Google Analytics, while others can be collected by letting the customer give it to the company with the help of a website and landing page. If you don’t have a website yet, you can also use a Facebook page.

Inquiry Filtering

The next phase is identifying the potential customer. You must ensure that the data you have is relevant and correct. For authenticity, collected information should be verified.

Lead Grading

After determining their unique identity. Leads which are more likely to result in a sale or provide more value to the organisation should be preferred above casual customers.

Lead Distribution

Qualifying leads are provided to the marketing and sales people of the organisation, with instructions and information. Customers with the highest potential value, in general, should be assigned to the sales staff most likely to turn them into customers.

Sales Contact

This is when the sales process truly begins. Sales representatives must arrange their interaction in a way that encourages the lead to respond, and how that happens should be determined by the lead’s actions to this point.

Lead Nurturing

Leads who engage to the Sales Contact should be placed into the lead nurturing process, which employs both automated and personal follow-ups to encourage them of the value of making a purchase.

Sales Result

Finally, when a lead makes a purchase, the management process is complete. 

Conclusion

It not only provides clear visibility into the sales pipeline, but it also assists you in making better business decisions by giving appropriate customer and sales data as well as actionable insights.