What is Lead Management and Why is it Important?

A lead refers to any individuals and origination in your target market who wishes to learn more about the products and solutions you have to offer. It is the process of managing leads, constantly and equally. Lead Management is the process of tracking activities, capturing leads and qualifies them, giving them constant attention to make them sales-ready.

what is lead management

To manage the leads, there is the number of software which handles all the activity, tracks the leads and also plans the whole things so that the productivity of the product is increased. This is a time saving and cost-effective process. Check the blog in order to get information regarding what is lead management & why is it important.

Why it is essential to use lead management?

Let’s take a simple way to explain this. If you want to start a business, first you create a website and run ads and wait for the leads. Eventually leads start pouring it and you start adding them in excel sheets in which you make who are interested and who not or less interested, etc. When lead volume grows you start getting calls from referrals, social media and all. After that, you make a record of this data and it is a huge record.

That time you are unable to manage and this is just a start. The more leads you generate the more confusion occurs. That results in lead leakage, missed follow up, no lead engagement. Consequently, you need to manage your leads to an increase in the productivity of your business. That is only happening when you use the lead management process.

How lead management is work effectively?

Different stages of the lead management process: –

Lead capture automatically: –

That means to lead should get capture automatically in your system. In the digital era, there are infinite sources of lead generation. When the lead volume is high, it is not realistic to enter all leads into the system manually. To prevent lead leakage, lead capture ensures that each lead is fed into the system right at the point. To manage the lead there is a record of customer’s data with the help of this, it is easy to capture the work like to install any up gradation by the company, not by the costumers and many more.

Lead generation: –

Business creates the user’s interest and inquiry into product and services through a range of market tactics. These often include a blog post, advertisement, social media, events, etc.

Lead tracking: –

When the lead is captured, then lead management or lead management software would start tracking the activities and behavior of the lead such as  – time they are spending on your blog, the form they are filling and the pages they are visiting, etc. Generally, this gives you the worth full information or tricks that you not have. Advance software also tracks conversations over the phone or call.

Lead distribution: –

After capturing the lead, you need to divide the work into the salespeople. This is a long process and consumes a large time if it is done manually.

Lead qualification: –

At this stage, there are lots of leads and leads are checked and identify either they are worth pursuing or not. These qualified leads are referred to as sales-ready leads. For instance, some system or team squad gives the score to leads, basis upon the criteria of the company’s sales or ideal buyer. Then, that ranking is shown by the lead management and high ranking lead is qualified for further. This scoring is known as quality scoring.

Lead nurturing: –

Some leads may not buy at the moment but that can very easily change in the future. Some of them might never buy but if you give good experience on e-book, blog post then it would be good for them.

Benefits of using lead management

  1. Time saver: – It is the best way to utilize the time. As there are the number leads which is tough to manage and it is a foolish thing to waste time on that.
  2. Sales planning: – To run a business in a good way planning is important. By showing the unmanaged behavior you cannot take risks with your business.
  3. Increase productivity.

Ways to manage the leads: –

This is classified into two parts.

  1. Manually lead management
  2. Lead management software

Manually management: – In this, all the leads are managed with the help of employees. All the process of tracking, capturing, dividing and all is done manually by the lead squad. This is a time-consuming way to organize the leads.

Lead management software: – in all the work, capturing to sales is run automatically with the help of software. This way reduces stress and increases productivity. There is much software which helps to manage the system: –

WHsuites, Pipeline, Zoho CRM, Pipe drive, Infusion soft, etc.

Best decision to accelerate the business

Lead management is considering as a perfect way to organize the work. As it comes with lots of merits that help to manage the business realistically.

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