You must have already heard of sales lead management and its importance in recent times. Agreed, leads are the lifeblood for consistent growth and successful operations of any business/entity. However, before you venture into learning how to manage sales leads, it is important to understand the whole concept in brief. Sales leads are people or businesses who may ultimately become clients for your business. That is the basic definition however and there is a lot more to it. Read on!
What are sales leads actually?
As stated above, sales leads are those businesses or people who may eventually transform into clients for your organization. They are also data which identifies any individual or entity as a potential customer for any service or product that is offered by you. Sales leads are usually accessed by companies via trade shows, email marketing efforts, advertising, online and offline marketing initiatives and third parties among other sources.
Generation of leads is the first stage in the entire process of sales or the beginning of the journey with a prospective customer so to speak. Once you get a lead, the key is learning more about the person or business and then ultimately converting the same into a prospect via two-way engagement in some form.
How to manage sales leads for your business?
There are several ways and means as to managing sales leads for your organization. There are various steps to manage leads that you will learn more about in the subsequent section. It suffices to state that lead management should be a fool-proof strategy for your business. Having this strategy in place always works since marketing is what generates leads and they are converted through sales. Both these teams have to imbibe this strategy since marketing leads otherwise fall through the wayside whenever they get down to the business of sales.
The process will start through knowledge acquisition about ideal leads followed by a system of lead scoring and then nurturing these leads until they come to fruition. The ultimate handover to sales from marketing also has to be emphasized upon in this regard.
What are the steps to manage your sales leads?
The steps for managing sales leads can be classified into the following:
- Gathering knowledge about suitable leads– Prior to employing techniques for managing leads, you should first learn almost everything you can about suitable leads. Knowing the targeted audience for selling your products/services is very important and this will help keep your sales and marketing efforts more on point. Know the problems faced by these leads and how your company can solve all of these problems. Also consider how you can speak the same language as your leads. Find out where your ideal leads are discussing their problems and offer solutions accordingly. Create a database accordingly. A whopping 80%+ of people want brands to know more about them and know when to approach them at the right time. Close to 60% of people feel that personalization always matters when it comes to taking purchase decisions.
- Have a lead scoring system in place- Lead scoring systems help you sort out leads on how likely they are to result in a final deal, how much these leads are expected to spend and how quickly the deal is expected to close. This necessitates listing behavior of leads including opening welcome emails or pricing pages on your website, filling up contact forms, reading posts, clicking emails, downloading content or signing up for free trials.
- Nurturing leads carefully- Marketing efforts play a complimentary role with sales efforts to nurture leads. Automate marketing between emails and sales calls. Some leads may never close while some will close soon, some may close on their own and some may require a push to shove. Marketing will help you warm up leads which have been, lower the overall sales cycle, share details and personalize marketing content based on lead behavior.
- Handoff transition to sales from marketing- The marketing team has to pass sales-ready and qualified leads to the sales team. This is where automation can come in handy when it comes to generating only qualified leads for the sales team to process.
LeadX is the best lead management solution
LeadX is your best bet when it comes to lead management. You can break sales silos with gusto with this application while enhancing sales at the same time. Get qualified leads for the sales team by empowering everyone in the organization with regard to generating warm leads, getting recognition and rewards for their efforts and also closing deals together as a team. This tool helps you tap your entire workforce and their personal and professional networks. Employees will thus be incentivized when it comes to generating qualified leads. If you were wondering how to track sales leads, there is a single newsfeed for tracking progress and updates in real-time for deals. This app helps ferret out leads throughout the organization both internally and across partners.
Leads can be swiftly entered within only 10 seconds and can be accessed across multiple platforms. The handover to sales is seamless and you can track all progress in real-time. There is complete API integration with CRM platforms as well. Thus, sales lead management is simplified by a good deal since you generate only qualified and warm leads for the sales team. This lowers the selling cycle and enhances company revenues as a result.