Every year companies spend millions of dollars into marketing and lead generation but unfortunately only 80% of leads are converted into sales. Poor lead management is to blame for such a depressing return on marketing dollars spent. Developing effective lead management system can help your system to avoid being part of this broken system. Are you facing problems with lead leakage and lead duplication? If yes, its time to implement a lead management system.
Defining effective lead management
Whole customer lifecycle is dealed by an effective lead management system. It starts with tracking the initial customer contacts goes through leads nurturing resulting to the sales process. A lead is nothing but an initial customer contact. For an effective lead management process, one should implement a customer relationship management (CRM) software. There are many options in the market depending on your needs. The pillars of an effective lead management process include six leading elements: capturing, marketing, nurturing, scoring, handoff, and funnel management.
Four pillars of an effective lead management system
Lead capture mechanism and elimination of duplicate leads:
Automatic lead capture mechanism allows leads to be automatically captured through integrated web forms, quote request forms, newsletter subscription and more. A process structured in a way that can prevent leads leakage as well as automatically identifies a high profit lead generation source. you can use your CRM software to merge duplicate lead records belonging to same person into a single file.
Lead tracking and automatic lead scoring
Implementing a lead tracking methodology can assemble the lead’s geographical area, the company size, product interests, the source, as well as their problems, needs, and wants. A lead tracking mechanism enables your company to determine its online behaviour. As soon as lead tracking is completed, its time to implement a lead scoring mechanism.
Lead segmentation and lead qualification
Lead tracking and scoring help your business segment leads automatically into various categories like hot, warm and junk deals. At this stage, this lead will enter sales pipeline and passed onto a sales representative.
Lead nurturing mechanism is effective for those having low interest in purchasing. Lead nurturing consists of consistently engaging leads across multiple channels by sharing content find interesting. This multiple channel engagement brought through email campaigns, triggered mails, SMSs or even through social media by remarketing.