What is a Lead Management Process for Running Successful Business EnterprisE

Companies still resort to traditional methods including spreadsheets for tracking and converting leads. But, this is a highly inefficient approach and can hamper the conversion of over 70% of leads. A dedicated lead management system is needed to apply strategic approach to gain new leads and convert maximum leads.

A lead refers to any individual entity that could be interested in your product. This interest is seen through sharing of contact details, opening “register now” link, checking the website, viewing a product video, or any other engagement form. The lead management process uses the data insights offered provided by a lead to systematically categorize them and plan the action points.

Lead management is, a broad area, covering most part of the sales methodology used to capture and convert leads. While this is done manually, it is recommended to use a digital platform like retail technology solutions that integrated into the CRM create a continuous data lifecycle. The customer can then be guided across this lifecycle, experiencing a streamlined journey from interest to conversion.

Different Stages of the Lead Management Process

If you go with the digital platform, the whole process can be automated and managed via the use of analytics and artificial intelligence. Overall, a lead needs to be:

1. Tracked
Initially the leads are captured automatically, since there are several sources of the lead generation, including website visits, social media, and email marketing. In the B2B sector, leads are captured from the telephonic conversations with all details must be entered into the tracking system through automation.

Now, the lead behavior can be tracked to further enhance the interest in your product. For instance, if the lead views the product page on regular basis, you can start a targeted email campaign, to convert the prospect.

2. Distributed
It is a simple approach in the b2b business process and once the leads are captured and tracked, you can send the details to the specific sales team. For example, you can have a separate staff for small-to-mid-sized enterprises, another for different vertical and location-specific sales teams. Remember, the faster a lead is approached by the sales team, the higher are the chances of the conversion.

3. Qualified
For a long time, this step was managed in a manual manner, depending on the personal expertise and experience of marketers as well as the sales executives. Now, AI can help to monitor the traits and parameters for defining the lead with auto-qualifying them with the right label.

In fact, a strong lead management software application will assign a quality score to every lead, depending on the ideal customer details and information gathered from the lead behavior tracking. Lead qualification significantly eliminates the time spent on follow-ups.

4. Cherished
In the world of business, a qualified lead will always turn into a successful sale is not always the situation. Your leads may start slipping out of your hand, could change their mind about the product need, or be engaged by a competitor. These promising leads, yet not showing immediate interest must be properly addressed in order to ensure conversion.

Wrapping Up:
So, hopefully from the blog you will be aware of the whole lead management process. This will help to grow business lead and the steps involved are highly important for the conversion. If conversion is done on the regular basis the chances of business expansion are quite high. The b2c solutions offered can help to business promotion and awareness. These solutions play a significant role in smooth process with proper results in future.