These are the top tips for lead management.

A prospector lead can take many different routes along their journey. Companies must have set best practices to manage leads effectively. These lead management tips will help you streamline your marketing and sales efforts and increase conversion rates.

What is lead management?

There are many different definitions, and they have changed over the years. LeadSquared’s latest-age description describes lead management as “the process that captures leads, tracks their behavior, qualifies them, then passes them on to the sales team”.

These are 5 great tips for lead management.

Learn the source of your leads.

Leads can come from many sources and are entered into the sales funnel at different points. It is the point at which a customer hears first about you. These sources can vary depending on industry and organization, but we’ll use some PR20/20’s examples for reference.

  • Premium content
  • Blogs
  • Website
  • Search
  • Events
  • Referrals
  • Media coverage
  • Email marketing
  • Direct marketing
  • Digital advertising
  • Social media

Each source should be treated differently. You should not follow up on a lead from your website in the same way as you would with a lead from a tradeshow. Keep in mind that different lead sources have different contexts. In the above example, a trade show lead would include not only the inquiry request but also any conversations the onsite representative had with the prospect and any other items discussed during that conversation. This could lead to more sales or products. It is important to keep your leads in mind when deciding the best way of following up.

Implement lead scoring.

Lead scoring HubSpot defines lead scoring as “the process that assigns values, often in numerical ‘points’, to each lead you generate to the business.” This score allows sales and marketing teams to identify which leads are most urgent, which ones are more likely to result in a sale, and which need more nurturing. While lead scoring can be different from one company to the next, there are some best practices that all organizations can follow.

There are many things to take into consideration when scoring leads. Knowing how those factors are scored will help guide you in your decision making. HubSpot lists six lead scoring models:

  • Demographic information
  • Information about the company
  • Online behaviour
  • Email engagement
  • Social engagement
  • Spam detection

Prioritize clean data.

You must have accurate and current data. This is the only way to score your leads and follow up with them accurately.

Every interaction with a prospect/client must be recorded. This will ensure that all parties involved are aware of any previous interactions. This helps ensure that prospects move through the funnel properly and don’t receive too many, too little, or repeated communications. Too many communications can cause prospects to unsubscribe from email lists or even stop receiving communications altogether. A prospect may lose interest in contacting an organization if they don’t get enough communication. They might also start communicating with a competitor.

Nurture your leads.

Lead nurturing Marketo defines lead nurturing as “the process that develops and reinforces relationships with buyers at each stage of the sales funnel.” Leads come in at different stages. Your marketing and sales teams should be able to convert leads at each stage. Each lead is unique and should be treated according to its stage.

Communications, promotions and information sent out to prospects at the beginning of a cycle will not be the same as those sent to leads who know what product they are looking for and are on the brink of making a purchase decision.

Email marketing is the most effective and common channel for lead nurturing. These are some email lead nurturing options:

  • Check-in email: It’s a good idea to check in if you haven’t heard from a lead for a while. You can send a “checking in” message to quickly ask questions and get answers. The lead might not need to reply, but it may include answers to commonly asked questions.
  • Special offer email. This email is a classic one that offers additional value to customers in a discount or upgrades, rewards, perks, or other benefits. Your customer segments and their value on your offer should guide what you offer.
  • The loyalty mail. You can keep your customers informed about special offers and other updates by sending personalized emails. These emails can be viewed as an update during your sales cycle’s “inactive” part.

Regularly review your lead management process.

Your lead management system should be reviewed and monitored regularly, just like any business process. Teams must be informed of any changes in CRM software, lead management methods, or processes. It is important to ensure that marketing efforts are paying off and that sales teams take advantage of every opportunity. Old processes might not be as effective or appropriate as they were once.

Scalability is one example. Your old processes might not be able to handle the increased number of leads as your company grows. While this is a problem that can be beneficial, it can quickly become a problem. Many lead management software options can assist.

Leave a Reply

Your email address will not be published.