Leads are the life of the business. Leads are potential clients who have shown an interest in your answer but haven’t made a buying yet. When you first start a new venture, you start with a handful of leads. As you work to grow, your sales team begins to get more leads than they can manage. Your team can then no longer run leads properly and both in terms of giving them the care they need, and things begin to come through the holes. Here CRM lead management comes in.
CRM Lead management is the method of managing leads, regularly and evenly. The modern-day lead management methods do much more than just managing the leads. In fact, they affect sales directly, by combining sales and marketing together. The new meaning of lead management is that it is the process of obtaining leads, tracking their activities and performance, and changing and fighting with them until they are ready to be moved on to quota-carrying sales executives. It is difficult, especially when the numbers of leads are high. Let’s go through why we need lead management.
Why do we need CRM lead management?
Companies create leads through multiple sources such as websites, ads, etc. When lead generation crosses different methods today, it’s important to have an efficient system to manage leads. Many businesses have a hard time turning leads to customers because they cannot see the hot leads from the cold ones. Consequently, they end up dropping out on events. Performing lead management gives you a centralized means to manage lead information, score leads, maintain contact, and even feed them continually.
CRM Lead management process
1. Lead capturing
Businesses generate leads through many online as well as offline sources such as email, social media, paid ads, and a lot more. Manually combining these leads into your CRM software is not possible, particularly when the amount is high. It guarantees that every lead is automatically filled into the system checking leads from falling through the cracks. It also takes the beginning, so you know what marketing campaigns are working and what’s not.
2. Lead improvement and tracking
Once a lead enters the sales cycle, the lead’s profile is automatically supplemented with openly available information such as their job title, company name, and social media profiles. This guarantees your sales team doesn’t have to spend time and effort on analysis and manual data entry.
By tracking your website guests, you can get an obvious idea of what leads are looking at on your website, where they are in the buying journey, and how acceptable they are to buy your services. Knowing leads’ purchasing plans helps you communicate better with them by supporting you up with the specified connection. It tracks the lead’s actions on your website and product and email engagement. These important insights around the leads’ function enable sales reps to get their attention and personalize sales efforts.
3. Lead qualification
An efficient way to qualify leads is through Lead Scoring. Lead scoring is for ranking leads to get a prospect’s sales-readiness. Leads are broadly scored on the basis of the care they show in your product/service, their current position in the buying cycle, and their fit in values to your business. By assigning scores to leads based on their job title, country, behavior on your website and product, and meeting, your sales team will be able to separate qualified and unqualified leads quickly. Using scores to qualify leads allows sales reps to spend their time seeking the right sales leads for your business.
4. Lead distribution
When your business is small, you know your salespeople inside out, so manually distributing leads to the right sales reps is easy. But with the increase of your sales team as well as an increase in the number of leads, this method will keep the lead response time. Ideally, a good lead management system should have the ability to automatically assign leads to sales reps based on some set criteria. By sharing leads to the right areas and sales reps, your sales team can prioritize their leads better.
5. Lead nurturing
In an ideal world, every lead would be one that converts into a paying client. But, in fact not all your leads are sales-ready. Many of them could still be in the study or experience phase, thinking out if your product/service would help their needs. With lead management in place, you can send nurture campaigns to these leads. You can teach and show the value of your product/service by giving your leads relevant content, promotional offers, etc., that pushes them ahead in their decision-making process.
Benefits of lead management
1. Talk to the right leads
With lead management, you can concentrate on the sales-ready leads thereby maximizing sales possibilities.
2. Engage with setting
Sales reps can join meaningfully with leads and increase the quality of communications when they are lined up by the specified context.
3. Better response time
It is no mystery that you need to be where your clients are. With a lead management system in place, you can give out to leads via phone, email, or even chat, take important context about their purchasing plans, and improve your chances of making a sale.
4. Increase productivity and maximize ROI
A CRM lead management system can help prioritize and select the right leads to the right sales rep. And also decrease lead leakage thereby allowing them to do what they do best—sell!
5. Be more accountable
CRM Lead management methods help in liability on every step of the sales process. By making the right reports, you can gain insights into data such as the areas generating the most leads, the response time of each sales rep, etc.
These are the benefits of CRM Lead Management. It is a significant subset of customer relationship management. Lead management software takes in the leads and conducts them through the process of changing and nurturing. Then, it hands them off to your sales reps who turn leads into paying clients. This is the point where your CRM needs over.
We provide customized CRM solutions. A good CRM software like ToDo CRM could be the resource you need to succeed in the new decade. Contact us at sales@todomor.com, or call us on +91 8880477700.