Boost Conversion Rates and Close More Deals with Lead Tracking Solutions
Having a great lead-converting strategy in place and getting your team to work on it is one thing, but the important question is: are all the efforts having a positive impact on delivering new customers? Do those leads actually convert into sales?
Most businesses or salespeople are usually apathetic about their lead tracking mechanism. They consider lead processing to be a one-to-one conversation that gives little importance to the complete picture. As a matter of fact, following this blind method of gathering leads can temporarily improve your ability to deal with large volumes of leads.
At the same time, this limits the lead management process by assuming that new leads are passive flows. In other words, you will not be able to distinguish or understand the requirements of your collective prospects and, therefore, you will be restricted to just answering client queries in a one-to-one manner.
Traditional lead tracking and management allow you to understand and manage your initial leads to generate better returns from your initial campaigns. If you are looking for continuous improvement, your employees should be able to teach and customize your marketing and sales activities by incorporating the best lead management software .
Why Does Lead Tracking & Management Matter?
What is it about lead management that makes it so important? How can it transform your entire sales process from the beginning to the end? What are the specific benefits of lead management for your business?
A good lead-tracking system will keep you on top of your game by assisting you to identify the right actions to take at the right time. Doing things at the right time is one of the hardest things to master in sales, but it's vital to close more sales.
There is no point in being a salesperson who keeps calling all the time, but you do not want to wait six months to follow up on your last call only to find out that your competitor has already done it before you.
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What is a Sales Lead Tracker?
Sales lead trackers help you keep track of sales leads and where they're placed in your pipeline as well you can get reminders, and alerts, and distribute leads to ensure that you're moving leads through the funnel promptly.
Through an intuitive lead management tool that streamlines your sales activities while keeping them in one place, sales lead tracking software helps your sales reps prioritize and pursue the most valuable leads to boost sales.
Steps for the best lead management process
If you want to take advantage of a lead, you need to acquire it first. Lead capturing is an important part of the lead management process. When done effectively, it can give it the necessary kickstart to get the lead management process going. As part of this process, all of the information about your leads will be systematically captured and populated in a centralized database so that there are no leaks in the data. For sales teams to be able to engage with prospects deeply, rich information about the leads is essential.
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There is a benefit in creating a database of prospects to nurture them later on, even if they aren't qualified for immediate sales.
Qualifying the Lead
Whether or not a lead is likely to buy is determined by how likely they are to purchase. Simply because the lead is a lead does not indicate that they are likely to buy.
Your marketing and sales funnel will determine the best method for qualifying leads. If you do it right, your reps will be able to channel all their efforts on the right leads, which will lead to them closing more deals sooner than they would have been able to do before.
In addition to the framework, TrackOlap extends it to include the crucial factors of solution compatibility. We have developed a unique lead qualification methodology that is combined with a lead scoring system that makes lead qualification and lead categorization the most effective. The lead scoring methodology enables you to classify leads as hot, warm, or cold based on their temperature levels. We’ve mentioned below more points of the lead scoring system.
The process of lead scoring is one in which you assign a score to your leads so that your team can figure out which leads may be most valuable with the highest possibility of conversion and can prioritize them accordingly. Use lead scoring to help your team identify the most valuable leads with a high likelihood of conversion.
We at TrackOlap, have embedded an exclusive lead-scoring model into our lead management software based on multiple attributes to help you score your leads accurately, making your lead qualification process much more effective thanks to a scientific way of scoring your leads.
If your qualified leads are still ruminating over things, nurturing leads can help give them more information about your products and why they need them. If they aren't ready to make an immediate purchase, nurturing leads may be the best way to get them on board. They are likely at an early stage of awareness or consideration, and not yet ready to make a purchase.
To make a favorable decision, the leads must be nurtured and guided to make the right choice.
Several activities need to be undertaken to nurture a lead. They could involve different sets of activities, including client meetings, reference calls, sharing collateral and case studies, etc. It is important to ensure that your leads are moving in the right direction in their buyer journey through a combination of multiple activities.
The most important thing is to assign the leads to the right sales team members as soon as they have been classified so they can quickly move the deal to the next step in the sales process. The deal might be jeopardized if it is delayed at this stage, and one might end up losing the business to the competition if it isn't handled correctly.
Several factors influence lead distribution, including location, product, opportunity size, and the stage a lead is at in the buying journey.
Using TrackOlap’s CRM lead management tool, you will not only simplify the distribution process, but you will also be able to do so very quickly and efficiently. In addition, the lead management module allows for the assignment and tracking of field sales activities that correspond to a particular lead, giving you end-to-end visibility into the actions taken by the organization.
If you are at this point in your sales process, you are confident that your marketing campaign will be successful; however, you should continue to track your leads to have a full record of your conversations with a lead if your salesperson becomes ill or leaves your company.
The tracking of leads and measuring their progress is perhaps one of the most important, yet time-consuming steps you can take in the lead generation process. You need to be able to monitor the progress of your leads and the activities you are performing to nurture them.
There is a very high risk that leads will fall through the cracks if this step is not optimized well. This can lead to very poor sales conversions and revenue leakages in the long run if this step is not optimized properly.
The final step in lead management is converting the prospect into a paying customer. This is the most important part of lead management in terms of continuously optimizing your lead management process based on the insights you gain from these conversion trends.
How Lead Management System (CRM) Works
To make your sales process more efficient, it is vital to track the leads you receive from your prospects. Unless your pipeline is flowing, you will not be able to close sales.
Most companies consider even a 1/10th contact to sales conversion as laudable. You should consider altering the circumstances in this situation to achieve better results.
Leads are consistently pulled into the sales funnel by TrackOlap sales lead management software at frequent intervals so that all leads can be tracked within the dashboard and can be viewed.
The advantage of having this capability is that all your leads are gathered in our CRM and will be sent to you. As a result, your lead generation team will not miss out on any leads. We can then help your team qualify or disqualify leads based on our tool. As a result, sales teams will be able to optimize their time and sales costs by focusing all their efforts on the right qualified leads. Investing in a dynamic lead management tool will help you stand out from the crowd and drive more conversions so you can stay competitive.