Lead Management Process: The only thing both marketing and sales teams strive for is leads. Organizations make a lot of investments, get involved in several activities and exercises only to generate leads. But, more than generating leads, managing leads effectively and optimizing lead flow across sales and marketing are critical to achieving sales success.
With an effective lead management process in your CRM cycle, you can track leads / inquiries and seamlessly route qualified leads to the right people. This enables the sales representatives to get instant access to the latest prospects and leads are never dropped or lost.
Lead Management process is designed with an objective to optimize the initial pre-sales process, allowing your sales teams to focus on the most valuable prospects and opportunities. The result of any marketing campaign, is the leads that are generated. You use these leads to qualify the level of interest and transform them into opportunities. It is possible to consider both customers and prospects as leads.
The following situations are a common sight in most businesses:
- Leads are wasted if they are not delivered to the right person at the right time. There is a struggle to get leads delivered to the right person in a timely manner.
- Good leads are often overlooked, while time is wasted following up on poor and junk leads. There is no standard lead qualification process incorporated to ensure quality and timeliness of follow-up.
- There is no standardization of surveys, or technical infrastructure capabilities to easily create and measure centralized surveys.
- Duplication of leads, causes leakage of time and money
- Often there is no visibility into the lead process.
- There is No Lead Measurement process. Hence businesses do not have an idea of how many leads, number qualified, conversion rates, where each lead is in the process, etc.
- Lead management process is directly linked to the ROI. Most businesses have no understanding of the impact of leads and lead conversions to ROI.
What are the BENEFITS of having a lead measurement and lead management process?
- It prevents the leakage and loss of leads
- Improves responsiveness to prospect inquiries
- Implement the best practices and standardize the lead qualification process
- Increase lead conversion rates
- Lead scoring opportunities
- For distinct groups, build distinct lead management processes
- ROI on your marketing spend
- Optimize and track lead flow from capture to close
- Implement security controls to ensure teams or partners can access only their own leads
One must understand that garbage in is garbage out. Thus, if the design of lead management process is not upto the standards, the ROI will be equally proportional.