What is lead management?
A person who is interested in the product or service you sell is a business lead or sales lead. It is a process of marketing campaigns, identifying if they are sales-ready(qualifying them) ,capturing leads, tracking their interaction with your sales reps, agents, and engaging with them until they buy your products/services.
Why is it important?
Lead management is the backbone of the successful sales operation. It is the process of managing leads that helps businesses understand which tactics help to bring them in the best leads, accordingly you can optimize your sales strategy to be both efficient and effective.
How to manage lead management?
For implementing an Effective lead management process these are the 6 important steps:
1.step1:Identifying and understanding our targeted leads. This is the main step to success of each of the others
2.step 2:Generate & Collect Intelligence about your leads
3.step 3:Mark your Leads
4.step 4:Nurture your Leads
5.step 5:Pass off your Leads to Sales
6.step 6:Track and Measure your leads
Best practices in Lead Management
1.Align sales process and pipeline
- One of the most important steps in lead management is to align a sales process and pipeline in place.
- The following procedure to be followed in each stage,Right from the lead generation to lead assignment, engagement, lead capturing and nurturing, to closing the deal, all sales teams need clarity on the channels to be used and the engagement tactics.
2.Focus on clear communication between teams
- When there is a clear communication between various teams involved in the process it generates a successful lead management. This includes performance marketing, outbound sales, field sales, inside sales, marketing operations, and sales operations.
- It should be swift and precise while reaching out and passing on, and following up with leads when there is communication between the teams.
- With the help of lead management software different teams in your organization get context and visibility into your pipeline and communicate better.
3.Identify when leads are sales-ready
- If a lead is ready to buy or subscribe to your service or product it is determined by lead qualification. There are several ways to qualify manual leads like the BANT technique which have worked wonders previously: prospects and customers have more access to technology and are quite capable of assessing their needs and solving their problems.
- Having less control over the prospect’s decision making process than ever before by the sales team. Put merely: BANT is not reliable enough anymore.
4.Monitor lead generation efforts
- There may be a number of lead generation campaigns across your company but the revenue and exact number of leads you get from these efforts are difficult to track.
- With the help of lead management tools, you can easily track marketing and sales KPIs through visual reports and measure the ROI of each and every campaign in your company.
- Efficient lead management can get by measuring results using reports, and with the help of good lead management software you can achieve that.