A good lead is worth its weight in gold, especially when your sales team is chasing a target. When sales targets are steep it is necessary to ensure that your team’s efficiency levels are high, so that you’re never a day late or a dollar short when you need to get a prospect over the line. This is where lead management can make all the difference. It is the process of capturing, qualifying, nurturing, and then prioritizing leads that can help when you need it the most.
Imagine being able to pursue only the most promising leads, while also enhancing customer experience. With effective lead management, you can focus on higher quality leads, increasing conversions, and also improved communication with your prospects.
How and where does lead management fit into the sales process?
The lead management process across many organizations and industries includes the following stages:
- Lead generation – identifying potential customers through various marketing channels.
- Lead capture – Collecting contact information from the leads.
- Lead qualification – determining if a lead is a good fit for your organization.
- Lead nurturing – Building a relationship with the prospect and helping them make smart purchasing decisions.
- Lead prioritization – Ranking the leads based on whether they may make a purchase or not.
- Sales conversion – Turning your leads into paying customers.
While lead generation and capturing are essential at the outset, conversion is wholly dependent on your sales team and your offerings. To ensure that your sales team is always working on the right leads that can help your business generate revenue – lead management is a necessity. From the qualification to conversion stages, how you manage a lead can make all the difference, and this is where LeadAngel fits in.
Imagine being able increase conversions by over 30% just because you use state-of-the-art machine learning, automation and technology in your sales process. What if that efficiency goes to 40%, or even 50%? Depending on how efficient your sales process is or will be, these numbers may easily be achievable. Now imagine having the means to get started on that path towards better efficiency today.
The benefits of better lead management:
Improved lead quality: Effective lead management allows you to identify and prioritize high-quality leads based on their characteristics, needs, and engagement. You can focus on leads that are more likely to make a purchase, and therefore save time and resources while increasing the chances of sealing the deal with a prospect.
Increased conversion rates: By nurturing and prioritizing the leads based on their level of interest your organization can increase its conversion rate. Imagine being able to communicated in a personalized and timely manner with prospects – how much would that help you build trust and confidence?
Better communication with prospects: When you ensure that prospects are receiving the right information at the right time, the chances of conversion increase significantly.
Enhanced customer relationships: The right salesperson, assigned to the right account, and at the right time can work wonders with a prospect. When intelligence is a necessity to stay ahead, taking advantage of technology can really work some magic.
Increased revenue: The bottom line is what benefits the most here. Fewer junk leads, less wasted time and higher efficiency means more money enters the system.
So what are some of the lead management best practices you should know about?
Define what success means – Is it more customers you’re after? Or are you looking at focusing your sales process on selling higher-margin products? By setting clear goals and targets, you enable your team to work towards them effectively. Better visibility for your sales team, ensures better outcomes for your business.
Technology is a gamechanger – Not having to sift through thousands of leads and assign them manually can save time, effort and most importantly operational expenses. When your team can focus on just driving sales, the results will follow. With LeadAngel, lead management is just the beginning. There’s a lot more under the hood and we would love to show it to you.
Automation supports growth: Leveraging solutions such as Marketing Automation to nurture clients along the journey with your team allows them to interact strategically with your brand at significant points in their purchase journey. Well-timed and strategic email campaigns, social media engagement etc., can work wonders if you leverage them effectively.
The final word
While there is considerable focus on lead generation, what’s under the hood – your lead management process is effectively what gets deals over the line. It’s a nice to own a sports car that’s admired by many. But a car that gets you to your destination is one that does its job. It’s also possible to have that sports car and get to your destination, but that’s probably once you get your lead management process humming like a well-oiled machine with LeadAngel.