Lead management is a method to monitor and analyze all leads to devise new strategies to acquire new clients or convert the prospective people into customers. Managing thousands of leads using traditional methods can be daunting and complex tasks. However, with automatic lead management tools , you can get the attention of the crowd by creating a robust strategy from brand awareness building to sales closure. The whole concept of lead management moves around in distinguishing customers according to their level of interest in your products or services.
According to the survey of Hubspot, 65% of the participants admitted that their major concern is generating leads & traffic for their businesses.
Behind every marketing campaign, there are two main motives. One is acquiring new customers and another is converting them into leads and closing sales using the right tools and techniques. B2B lead management tool is an automated process that assists you to track and manage your leads on dashboards efficiently.
For the past couple of years, Trackolap has been helping businesses to capture & prioritize leads with automated lead nurturing technology to drive more sales. Managing leads, nurturing them with lead pipelines and converting them - all these can be possible with one tool.
In this blog, we have mentioned end-to-end details of an effective lead management software to help you choose the right one for your business.
Let's dive into the topic!
How To Choose An All Rounder Lead Management Tool
Ideally, an effective lead management software should be user-friendly and fast. You don't want so many complicated features in one place making it tough to run with your non-technical sales team and managers. It should automate the whole process and doesn't demand a bunch of coding. You can access all of the features with one click with minimum effort and time.
When it comes to selecting the best lead management software, you must look out following before investing in one,
- User friendly- You need to find out how simple it is to monitor your leads and assign them to the team.
- Features- Ask yourself, does it cover all of the features that you need to manage the entire lifecycle of a lead? If yes, go for it. We have mentioned some of the basic features of an effective lead management software that must have below.
- Affordable- is this value for money? Will you get everything under one umbrella to meet your business goals without compromising your budget? Have you compared the features with your peers?
- Integration- Integration is one of the most prevalent concerns that today's organizations face. You need to check if the tool is capable enough to work smoothly with your existing marketing tools.
- Benefits- Will it provide you with the benefits you are seeking?
For the past couple of years, Trackolap has been helping enterprises to thrive by availing all the features seamlessly that an intelligent lead management software should have, without cutting their pockets.
You May Also Like:- How to Generate More Leads Using a Sales Automation Application?
What Are The Features Of Lead Management Tool
When you look for lead management tools make sure you have basic features to perform the management of leads efficiently. A Few crm lead management software integrates CRM with a lead management tool to give you end-to-end support from the acquisition of new customers to converting them into perspectives.
The lead management process involves the collection of leads, prioritizing them, and managing the lead pipelines to close deals effectively. Whereas in the Sales CRM (Customer Relationship Management) tool, you need to have a customer database and follow the sales funnel.
Now as you understand the differences between lead management and CRM, let's start with the basic features you need to check before opting for any lead management software.
Collection of Data
During marketing, businesses use various platforms starting from Facebook, Emails to LinkedIn. Thus, collecting data on the customers in one place becomes a terrible task. Automation in this field can take your business to the next level by automatically collecting data to help you analyze and follow up on them.
After collecting data you need to manage them. Few Employee tracking software gives you room to manage all your leads, sales team, and other relevant data stored & sorted in a place to make it organized and accessible with high-end security features. For sending follow-up emails, quotes or addressing queries, the details of the leads and conversation history need to be stored in one place.
The distribution of leads is one of the pivotal features to shorten the conversation time. This feature divides your leads and helps you distribute them to the relevant person with one click. The leads where immediate action is required are transferred to the experts within real-time and help you address your customer at the earliest possible time.
Response To The Leads
The fresher a lead, the faster action has been taken, which decides the probability of conversion. As soon as you address a prospective client, it gives them a hint that you care and are vigilant about their queries and needs. With a dynamic lead management tool, you can assign tasks of follow ups to your sales team with an instant notification feature to avoid any latency in taking actions immediately or missing out on any prospective.
Prioritizing The Leads
Prioritizing leads is also one of the crucial factors for deciding the future of your lead management techniques. All of the leads may not require the same amount of attention at that time. If you fail to prioritize your leads you may end up wasting so many resources on wrong leads and slipping out the possible ones.
To avoid this scenario and prioritizing the leads based on their convertibility may save your business from disaster by proactively chasing the hot & active leads before they turn blue.
This practice will also strengthen managers' strategies and motivate them to amplify the lead conversion rate.
Business leaders and the sales team are working relentlessly together to drive sales and conversation rates. Isn't it? But when businesses are in the race to beat their competitors, sometimes the way they use their resources is not worth it, which directly impacts the lead conversions. To save time and money, one of the most intelligent ways is automation. A smart sales management software makes your sales funnel clutter-free and smooth by filtering, tracking and assessing each lead's journey in real-time with one click.
The ultimate motive of a business is getting maximum results with minimum effort. The automation in the lead management space has bought revolution and given managers enough room to focus on other business activities. With one click you can avail details of each lead starting from follow-ups to real-time conversations with the prospective customer through an analytical dashboard. The prompt action and instant response with the help of the lead management app reduce the chances of slipping away the leads by remaining in touch with them.
Analyzing leads, prioritizing them with a lead automation tool, following up regularly and tracking all of the leads at one place in real-time becoming the new normal. Businesses are extensively relying on these lead management apps not because they are affordable or efficient but because they cut the resources and help organizations compete and stay out of the curve.
It is a powerful tool that calculates conversion cost, conversion rate, time taken for conversion, exit points, acquisition rates and many more.
Reports With An Analytical Dashboard
Reports are very much essential to track your success rate. It helps you evaluate the efforts and resources that have been performed on a lead vs the business profit or return. It also helps managers evaluate the behavioural pattern to convert the lead and achieve the results. This gives you insights into the customers' needs, and mindsets to devise strategies for driving more sales.
TrackOlap analytical dashboard provides a holistic view of your lead pipeline by compressing all the leads in one place to help you understand the stage of each lead on the conversion table and the requirement of work that needs to be performed to close the sale.
What Are The Benefits Of An Lead Management Tool
Lead management is a tried and tested process of keeping your lead pipelines free from clutters and fresh. Just imagine, the whole day you have been nurturing a dead lead? With a lack of management, you could end up targeting the wrong person and wasting your resources.
You can track your performance yearly, monthly or quarterly and if sales are dropping you can analyze that as well. You can collect data and find out the loopholes in your sales funnel and by patching the loopholes you can drive better results by addressing your prospective customer's pain points & expectations next time.
In this blog so far we have covered the nitty-gritty of lead management software, its benefits, and features to help you take your business to the next level. We always recommend you to go for affordable paid tools that meet all of your requirements in one place because to stay ahead of the competition and get optimum results you need to invest a minimum on the right platform.
Trackolap has been providing end-to-end solutions to manage your leads and sales in one place. We also offer Mobile CRM so that your employees can track, monitor and analyze the leads from anywhere when they are out of the office.
Sales and leads are the backbones of each organization. If you are not making sales what is the meaning of the business? Soon it will turn into a charitable organization. It is the right time we think smart and invest in the right place. An effective sales management software motivates your marketers and sales person to change the game by dealing with customers like a pro.