Leads are the backbone of any business. If you are unable to convert your leads, then you need to think of your strategies and techniques. Managing 1000 leads may seem like a cup of tea for you, but what about managing 5000 or lakhs of leads? Can you manually manage the gigantic pile of leads? No! You need automation to save your resources to use them in other requisite business tasks.
If you want to grow your business, earn revenues and be a successful entrepreneur, your organization needs to practice lead management with robust lead tracking software .
The main goal of lead management is to help businesses to provide the right information to their customers at the right time. According to a survey, more than half of the people admitted they prefer companies that care about their concerns by creating a smooth channel of interaction and follow-ups. That is true. Just imagine how Apple, Microsoft and other top-notched companies are dominating the market. Because they know who their prospective customers are and how to prioritize them.
For the past couple of years, Trackolap has been supporting business leaders to grow by helping them manage their leads effectively. Their lead management software is equipped with all the latest features to manage, analyze, follow up and scan leads with one click.
Remember, your success will begin by hitting your lead pipelines by nurturing and onboarding new leads as well as old leads and eliminating the dead ones.
In this blog, we have mentioned some best ways to manage your leads. Before diving deep into the blog let's have a look at what is lead management.
What is Lead Management?
Before we discuss lead management, let's understand what is a lead. A lead can be a customer or organization who is interested in your products or services and with a good strategy may become a client. Basically, companies work on the business-to-business model or business-to-customer model to serve their services/products.
Lead management is the process of acquiring new leads, monitoring the activities, educating them about the products and following up with them frequently. When these leads are ready to convert, pass them to the sales team. The whole process is conducted using innovative sales management software only.
The lead management process helps marketers understand the strategies that are working best for the leads. That helps devise new tactics that are efficient and effective.
In this process, the marketing team has end-to-end details of the leads, such as their reactions, mindset and experience with the products or services, that help them track their progress.
Best Ways To Manage The Leads
If you are desperately looking for ways to increase your business’s revenue & sales then you need to review your lead management program. A solid lead management system should filter out the weak leads and nurture the strong potential leads who have higher possibilities to get converted into sales.
Your business’s sales pipeline and also the ability to hit revenue targets all begin with good lead management. Streamlining the overall sales experience for your consumers and making your marketing and sales teams more productive and efficient demands some strategies. You can try out these seven ways to manage your leads effortlessly and turn them into sales.
1. Generate Quality Leads
Generating quality leads can be a lot easier if you stick to some of the important key points. First and the foremost thing that you will have to do is create awareness for your products or services through various promotional events, ads, articles, PR campaigns, and B2B and B2C marketing strategies.
If you can gather information about your audiences like Demographics (gender, age, occupation, income level, etc.), Psychographics (opinions, interests, lifestyle, etc.) & Behaviors ( buying patterns, what they watch and read, what benefit they are looking for in a product, volume and frequency of purchase, etc.). Surely, these parameters will help you to generate quality leads, which later can be converted into sales.
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2. Implement Customer Relationship Management (CRM) Tool
To get an insight into optimal sales effectiveness, your employees need to capture key information about each interaction with every customer they are having. Implementing a crm lead management tool which can be very handy in this manner can do all the work for your business and help you to generate good leads.
3. Capture Your Leads
When the potential consumers start responding to lead generation strategies, that is the time you start collecting vital information about them. In this kind of situation, you can use google analytics which can give you an insight into - how do the visitors coming to your website and how are they consuming the content and more. With efficient lead management software, you can capture all of your leads and monitor them in real-time.
4. Nurture Your Leads
Based on the products and services you offer, probably most people will not be ready to buy the first time. In that case, the best thing you can do is to nurture your leads over time. However, at the same time, you need to create campaigns that will allow your prospects to touch your ads that will encourage them to buy your products or services. You can run campaigns multiple times so that you can continue your sales cycle until they are ready & made up their mind to think & purchase products or services from you.
5. Track Source Of The Leads
A lot of people often hear about your company and come in contact with your products and services through ads, referrals, online banner ads or any other form of advertising. In that case, you should keep track of what works and what is not turning your leads into good sales. In addition, it is equally important to capture the source of each event. so if you are not capturing the source probably you miss figuring out what is working & what is not.
6. Measure Everything
If you want to measure your sales results, the first thing that should pop up in your mind is “what you want to measure & why?” Then you can directly switch to the part of capturing the correct set of information about your business’s sales with the best sales management software . Once you have the right information, you can determine every aspect of your business like the ROI (return on investment of your campaigns) and focus on the campaigns and prospects that will pump your sales pipeline.
7. Have Meetings With Sales Staff
You should arrange meetings with all staff members, who are directly connected to the sales of your business. Arranging regular meetings will help you to review lead quality, win/loss records, and tracking CRM systems. Meetings can help you to understand what essential changes need to be made to improvise your business's sales.
Should You Use CRM?
Nowadays, you will hear people talking about CRM software to manage their lead and sales pipeline here and there. Indeed, CRM software comes with hundreds of benefits that can't be ignored.
Trackolap's CRM software comes with a bunch of existing features starting from lead management, sales pipeline visibility to conduct follow-ups, real-time analysis, and much more.
Many small, medium and large enterprises are taking advantage of this innovative software to manage their leads efficiently.
Now you might be wondering- why should you invest in this software?
You can manage all of the data spreadsheets. Isn't? Then comes - how long?
When your business grows, data leads also grow eventually. Not having a consolidated view, you can miss leads, nurture dead leads, juggle among different tools or even worst, waste time analyzing duplicate data.
This CRM lead management software integrates all of your leads in one place. You also have a dedicated analytical dashboard where you can monitor the status of the leads.
Besides, it is important to educate your active leads with the content during the nurturing process.
At every stage, you need to track how they are behaving on your website or follow-up emails, which type of products they are showing interest in, and how they are engaging with your social media accounts. The best lead management software will provide the activities of your prospective customers which will help you devise strategies to convert them successfully.
When you have enough leads in your bucket but not generating revenues, you need to ask yourself first - what is wrong in the lead pipeline? But again another question comes, how will you evaluate your strategies?
For the past couple of years, being the leader in the industry, Trackolap has been helping managers and business leaders to improve their present lead management strategies with its intelligent automated lead management tools.
Your customers are the threshold of your success. Most organizations think they know their prospective customers very well, whereas our few clients have shared with us - how they have found new surprises when they analyze their customer base in depth. So, make sure you analyze your customer base frequently and extend the list, to convert them successfully.