The importance of lead generation is ingrained in the minds of all modern marketers-the more quality leads, the better. However, as customer paths become more and more versatile, it has become clear that lead generation is only part of the marketing puzzle. Turning a lead into a paying customer requires a comprehensive process for managing the lead. However, the process of managing potential customers is as complex and complex as the modern customer journey. Even the most experienced marketers are struggling to create the best customer management strategy for their business. Fortunately, we are here to help. Whether you are new to lead management or looking for tips to fine-tune the lead management software, today’s blog entry is for you. Let’s delve into it!
What is lead management?
Lead management is the entire process of generating potential customers, tracking entitlements, activities, transferring to sales, and prioritizing timely sales tracking.
In short, potential customer management is a complex system, each consisting of several different processes required for business success. Think of doing business like a card house. Lack of stability in one area (lead generation, lead evaluation, routing, etc.) means that the entire strategy fails and leads are missed.
By implementing a comprehensive lead management process, you fill your pipeline with high quality leads and maximize the individual value of each lead. Consider these statistics (source):
Approx 50% of marketers with mature lead management processes have a sales department that monitors more than 75% of leads generated by marketing.
• 25% of marketers using mature processes to manage potential customers report that their sales department will contact potential customers within one day.
• Companies with mature lead generation and management practices are achieving a sales quota 9.3% higher.
• Companies that automate lead management system can increase revenue by more than 10% in 6-9 months.
Potential management enables businesses to effectively organize and develop potential customers throughout the customer journey and improve response time to potential customers who are ready for sale. All these steps work together to achieve perfect results and increase your income.
7 Tips for Improved Leads
As we found out, lead management is a complex, multi-stage process. No matter how many times you change your strategy, there is always room for improvement. Let’s take a look at some specific tips to keep in mind when setting up your lead management process
1. Create buyer roles.
First, managing potential customers effectively requires a deep understanding of the characteristics that make them ideal for your product or service. please think about it. If you don’t understand the best customers, how can you accurately certify, educate, or sell them at the right time? For this reason, a management strategy requires a buyer character. But if not, here is a summary. Buyer is a fictional profile of an ideal customer. These profiles are built using a combination of existing customer data, individual observations, and quantitative studies.
2. Personalize the process of Sales CRM Software.
To effectively manage your potential customers, you must collect the right information at the conversion point. But there are no two identical leads – and a universal approach to lead generation will lead to a lack of data.
Here are some tips for making the lead generation process more personal.
• Use custom web forms:
Potential customers access the site at different stages of their journey through several channels. One standardized form of lead capture does not account for these differences. For example, the information you should receive from someone accessing a free trial page may be different from the information you should receive from a visitor to a webinar. Create a custom landing page so that potential customers receive different forms depending on how they access your site.
· Using chat bots:-
Chatbots are the most effective modern method of personalizing the process of capturing potential customers. On the one hand, potential customers are more likely to disclose personal information in a conversational environment, rather than through a typical web form. And chat robots allow you to capture data points that are most relevant and applicable to each individual lead. For more information, check out our recent dialogue marketing post.
• Landing page A / B test:
The personalized creation of a potential customer is not a process you get on the first try. Test different form fields, CTA, and more to optimize your landing pages, increase conversion rates, and improve lead management.
Personalization can help you increase conversions and capture quality leads. Most importantly, gather the intelligence needed to manage individual leaders using the special approach required.
3. Evaluation of your potential customers.
Eliminate guesswork from managing potential customers by implementing an automated system to evaluate potential customers. Potential customer valuation is the process of ranking each potential customer’s sales readiness based on predetermined criteria.
Evaluating leads automatically can improve your lead strategy in several ways. First, improve the quality of the leads you send to your sales team. This improves sales and marketing consistency. Scoring also helps prioritize sales teams and leads to the fact that they need to be followed first. Timely observation is important for leadership. In fact, 35-50% of sales go to the first responding seller.
4. Parenting leads with targeted content.
Lead education — or the process of developing relationships and identifying prospects throughout the customer’s journey — is an integral part of leadership management. He answers the question:
What should I do with the leaders who are qualified, but not yet ready to make a purchase?
Consider these statistics on the effectiveness of effective lead education :
• Companies that have successfully grown their leads have 50% more potential customers ready to sell and 33% cheaper.
• Purchase recovered leads 47% more than unprocessed leads.
• Captured leads translate into an average 20% increase in sales opportunities compared to unprocessed leads.
To educate potential customers, we recommend that you align your content strategy more effectively with the different stages of the customer journey. This strategy ensures that the right content is delivered to the right reader at the right time. For more information on business best practices, read the following post:
5. Establish a service level agreement for lead routing.
Moving potential customers from marketing to sales is an important step in the customer journey. We’ve already explained the importance of quick tracking, but let’s leave another stat. For quick and efficient routing of leads, businesses need a detailed system to assign leads to specific teams or sales. The result is a service level agreement (SLA) between the marketing and sales teams that outlines the capabilities of the lead routing process. This white paper should include the following data:
• Consistent definitions and ratings for potential buyers (SQL) and potential customers (MQL).
• Clear criteria for determining which leads will be sent to which team or representative.
• Expectations regarding sales tracking time.
A service level agreement will ensure that your marketing and sales teams are accountable during the transition process.
6. Keep your database clean.
As a marketing specialist, you can get the right guidance from potential customers, and if you don’t prioritize data hygiene, you can get terrible results. Here are some tips to avoid dumping dirty data from the lead management process:
• Identify duplicate records:
15% of leads have duplicate data (source). Address this problem by cleaning up the database of potential customers and removing duplicates. Of course, regular reordering of the entire database can be very time consuming. We recommend using a data provider or marketing automation platform to automatically deduplicate records as they become available.
• Implement automatic validation.
Leaders often provide false or old contact information to remain anonymous. Retain incorrect records in the database by embedding the validation process in the lead capture form. Readers will receive an error message if they provide incorrect information and cannot enter incorrect data into the database
. Prioritize current data hygiene.
Even if you follow the tips above, dirty data will pollute the database, mainly as a result of natural data corruption. For this reason, investing in a marketing analytics solution that automatically checks and cleans the database of potential customers is very important.
7. Priority integration technology.
The strength of the potential customer management process lies in the technology used to store and analyze potential customer data. It is safe to assume that this data is stored in multiple systems, such as marketing automation software or CRM. If these tools are not integrated with each other, the data will be stored in separate repositories. And ultimately, it can slow down or complicate the lead management process. Invest in marketing technology that integrates with CRM and other storage systems. Among other benefits, such as improved data quality, integrated technology facilitates smooth routing of potential customers and increases the effectiveness of sales tracking.
Key Management Findings
With Sales and marketing CRM Software creating high-quality leads is important for business growth. But only if you will treat each leader with the care and attention that they deserve. Leadership may seem like a complicated and complicated process. However, this is an important step towards marketing effectiveness, optimizing sales and, ultimately, increasing revenue.
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