Lead management refers to the practices, processes, and activities to convert a prospect from a lead into a purchase or source of revenue. Businesses that do not give this segment the attention it deserves lose out on possible significant business.
Nurturing leads is a substantial part of any successful business plan. It would help if you had an effective lead management tool and process to reap from marketing campaigns or other client sourcing avenues.
Importance of Lead Management Process
A good lead management strategy helps a business understand the source of its lead. This is crucial as it enables you to identify the most effective marketing strategy.
Well-structured lead management process helps you focus the sales energy in a fruitful direction.
It helps you to funnel out weak leads with the help of qualifying verticals and allows you to concentrate your skills and resources on retaining profitable ones.
Ways to Perfect Lead Management Process
Organizations and brands immensely benefit from handling poor lead management performance from marketing automation. You, however, need good strategies to implement an effective lead management process.
Determine Your Leads
Identifying and understanding your potential buyer is a crucial step that will enable you to distribute them correctly and effectively in your sales process.
You will need to know the persona of your buyer and type. This is the most covered by the marketing team. Some of the areas to protect your persona from are:
Source: Establish how the leads land on your page. Is it direct traffic to your website, some backlink, or a tweet?
Demographics: Understand the location of your buyer, which industry they belong to, company size, pain points, and business needs.
Behavior: Do your leads read online like white papers or blogs or browse through Google for knowledge?
You must read and map your client’s mindset to implement an appropriate lead management process.
Generation and Collection of Lead Information
Create good content and assign your marketing team to track the progress. Your team should establish the point of contact of the potential leads. Here are some actions that will help in generating and collecting lead information.
Adding a tracking token to all your online content will help identify lead behavior and the point of interaction with your marketing content.
Your most revered and best content, like whitepapers, is best in lead-capture form.
Use analytics for people visiting your blogs and website.
This information helps you understand your lead’s requirements and support the nurturing process.
You will need to rank your leads to determine their potential interest. Some factors that help determine the rank include lead communication activity and demographic data.
The ranking leads process is tricky but possible. Take time and research various factors that will help you in the procedure, depending on the functions of your business.
Another way to perfect your leads is by segmenting them based on the first 3 steps and then positioning them in the sales cycle. Top leads get turned through first marketing initiatives like blogs and eBooks.
Turn Your Leads to Sales
Ensure your leads are well nurtured and do not doubt your services or products. This process guarantees that you provide your team with sales-ready leads.
Evaluate Your Leads
To perfect the lead management process, you will need to keep track of your lead even after handing them over to the marketing and sales team. Ensure that your leads go through the proper sales cycle, measure their sales performance, and keep track of your marketing and sales ROI.
A perfect lead management process is a collection of many factors in your business. You must ensure that all the elements harmonize well to nurture your hard-earned leads.