What is Lead Management?
How software can improve your sales and your bottom line.
Lead management is…The process of managing, communicating with, and routing prospective client relationships in a way that allows for analysis and automation to be used to increase the efficiency of the sales organization of reaching the goals of the business.
The terminology that is used in business to describe the methodologies, practices, and systems that help companies generate leads that could eventually become new clients or customers is known as Lead Management. It is operated using an array of advertising and marketing techniques. Its function and purpose is to facilitate connections between the outgoing advertising/marketing efforts and the consumer’s responses.
Lead Management processes can be developed to target either business-to-business (B2B) or direct-to-consumer marketing strategies.
Additionally, lead management software serves as a precursor to customer relationship management (CRM) and is a part of sales management.
The connections between advertising and its responses facilitates profitability:
- Acquiring new clients
- Creating market brand awareness
- Selling to current clients
Lead management is sometimes, although not frequently, referred to as customer acquisition management (CAM).
Lead Management’s general principles create a rigid structure so companies using the application can manage numerous inquiries resulting from their advertising and marketing efforts. These are frequently referred to as leads or sales leads. The process constructs an architecture that organizes data which is then distributed across the sales force and the different stages of the sales process. With the advent of information systems technologies and the World Wide Web, this process has become technology-centric. Many businesses now practicing Lead Management techniques have shifted from what was a manual workload to fully automated systems. The personal interaction with these inquiries or responses is vital to company profitability and success.
The Lead Management Process
Lead Management is comprised of 4 interrelated business practices
- Brand Development
Why should you choose Marketing Optimizer?
A successful Lead Management initiative will generate new revenue streams for the business, improve the overall attitudes of the clients/customers as well as the general public, and increase company visibility and market share.
Our Lead Management process will enable you to capture not only more leads, but better leads.
Additionally, the right leads will be placed in the hands of the right sales person. You’ll be able to improve your sales by warming up your leads.
- Lead Generation – Business participates in a number of different advertising and marketing media to generate leads.
- Consumer Inquiry – Consumers respond to these advertising and marketing efforts therefore creating an inquiry or lead.
- Inquiry Capture – Personal information of the consumer is captured or put into a database.
- Inquiry Filtering – The information is filtered in order to determine its validity.
- Lead Grading – The filtered business leads are graded and then prioritized based on their potential to be converted into sales.
- Lead Distribution – Once that step is completed, these leads are distributed to the company’s marketing personnel and sales force.
- Sales Call or Contact – Each lead is then personally contacted and prospected.
- Lead Nurturing – Contacted leads as well as those that have not been contacted are placed into automated and personal follow-up agendas.
- Sales Results – The end result is a new client or customer.