Lead management refers to the holistic set of processes, which encompass business practices, methodologies as well as various systems, which work together generation of new income. This is facilitated by engaging new clients and business partnerships as well as their individual responses to various marketing and advertising techniques. With a lead management system, the processes can be automated thereby promoting business automation on the whole.
Five Stages
The process of lead management is segregated into five stages namely capturing new leads where new leads are obtained in as quick a manner as is possible. The second stage is called lead distribution where respective sales agents are employed to carry out generation of leads. The third stage is called disposition or track wherein various emails are sent to clients, customers are called once leads have been received. The next stage is probably the most important because it involves conversion of leads obtained. Sales teams need to follow up with the respective leads and convert them into customers. Regular follow-ups are critical in lead management because they establish a better level of brand recall. The final stage in lead management is result analysis, which is the most critical because the current sales strategies and marketing initiatives are analyzed to gauge their overall effectiveness. With modern lead generation crm’s the entire process from contacting the lead to the final conversion and sale closure can be traced easily. Sales personnel can capture a snap shot of the entire sales cycle with such customer relationship management software.
Systematic Structure
With lead generation crm’s it becomes easier to establish a structured approach to handle volumes of customer enquiries. Hence, it paves the way to structured data organization in the customer database, proper distribution of sales through all the sales stages and thereby resulting in a proper distributed salesforce automation system.
Growth In Smart Ways
With a lead management system, companies can hope to expand their sales in a smart and efficient manner. Since sales personnel can now focus more of them time on core sales activities as opposed to administrative actions, it enables the business to enhance sales volumes and conversion ratios. The result is of course more revenues. In a lead management system, the entire sales cycle as well as individual customer information is stored within the sales database. That means that customer activities even after the sale are recorded into the system. Hence, if the customer has called in to fix a particular issue or if the issue needs resolution in a few days, all of this information is stored in the lead generation crm’s to help sales agents take appropriate and timely action. This results in timely resolution of customer issues and more satisfied customers. Hence, the business is likely to get more recurring sales and in turn revenues.
To attract new leads and seamlessly convert them into customers, the establishment of a lead management software is crucial to the business’s growth plans.
