6 essential steps for an effective lead management process

Companies worldwide spend a considerable portion of their revenue on generating leads. They employ marketing professionals, use the best promotional strategies and run ad campaigns to acquire customers. Even after all the resources and hard work, only some can convert them into paying customers.

Did you know?

• 57% lead quality and 43% lead response time determine Lead conversion
• Nurtured leads produce a 20% increase in sales than non-nurtured leads.
• Only 20 to 25% of the acquired leads are legitimate and ready to fit the sales funnel.
• Only 56% of B2B companies verify leads before passing it to the sales team

If you think your efforts could be better, it’s time to invest in a professional lead management service.

A lead is anyone interested in a product or service and can bring sales to your business. Lead managers develop sales techniques that can convert potential leads into buyers. Knowing about lead generation can help you create a customer acquisition model.

For the sales team to follow the right leads, they need a way to understand which leads are to be given more attention. Lead management has a proven framework for identifying the leads that are worthy of time. The sales team needs to focus their energy on high-quality leads most likely to bring a sale.

Let’s look closer at the whole process.

What Is Lead Management?

Understanding lead management can help you acquire new potential customers and increase business profitability. Lead management service is collecting the details of leads available on multiple sources and utilizing them for direct communications.

It involves segregating leads and allocating them to sales personnel for further work. The process also involves monitoring online and offline contacts. It includes emails, website visits, ad clicks, calls and in-person meetings. Lead management helps companies understand the consumers’ requirements and answer queries.

Why Is Lead Management Important?

Lead generation management helps organizations develop the right technique for collecting and nurturing prospect leads. It efficiently utilizes sales team time by assisting them to focus their efforts on leads who need the product or service and are in a position to make a purchase decision.

Lead management facilitates the categorization of leads by location, media channel, consumer behavior, and engagement time. With the help of this information, marketing teams can contact the leads and forward details to sales executives to help them focus on the buying process.

Necessary steps used in the lead management process

1. Lead generation

Gaining the contact details of leads through advertising is the first step in the lead management process. Websites, email, social media and sponsored ads are a few tactics businesses use to reach their potential consumers.

Two major strategies for lead generation are inbound and outbound. Inbound strategies engage the audience by creating social media content and blogs, which draws them to the business. The outbound techniques aim at directly reaching prospective customers. Examples of primary outbound lead generation methods are cold calls, ads and billboards

To make things easy, outsource a team from a lead management company and you can get the proper assistance

2. Follow-up

After getting the potential customer’s contact information, a follow-up process helps ensure they are interested in sales regarding the discussion. Following-up leads is an essential aspect of effective lead management as it allows you to identify many factors like-

• Specific webpage visit:

If a lead visits the pricing page on a website, they are likely interested in buying a product or service.

• Email open and click:

If a lead opens and clicks your emails, it’s a sign that they are interested in being connected by a sales representative.

• Response to communication:

A potential buyer is most likely to respond to calls, text messages or other forms of communication.

3. Lead qualification

You can qualify the leads based on factors such as purchasing intent, purchasing capacity, and product suitability. First, the marketing team gathers 5the contact information and personal details to analyze whether the lead meets the customer profile of the target demographic.

Further, it labels a qualified lead as a prospect. A sales professional organizes a call to review the prospective client’s needs. The sales team uses the information for further follow-up.

4. Lead distribution

Assigning leads to the marketing team to turn them into loyal clients makes up the lead distribution process. The objective is the evaluation and allocation of leads effectively.

5. Lead nurturing

Lead nurturing employs techniques that allow sales and marketing professionals to create long-term connections with clients. It includes educating them about products and services, which ultimately helps increase customer retention.

6. Passing leads to the sales team

At the last step of lead generation management, the marketing team forwards a qualifying lead to a sales expert. The lead’s value determines its sales potential.

The Bottom Line

If you want your business to continue growing, you must gain qualified leads. When you invest in a lead management team, professionals can help you manage your entire lead lifecycle. Hire your team today at Nomadux, your reliable partner for outsourcing human resources. Visit https://www.nomadux.com/ to learn more.