Martech Insights | Wednesday, June 29, 2022
Lead management obtains and uses data from many sources to better understand and communicate with potential customers.
FREMON, California: A prospect is a person or company interested in a product, service, brand or marketing content. Professional lead managers use sales methods to convert leads into engaged customers. Learning lead management will help marketers establish customer acquisition and retention tactics.
Lead management collects lead information from multiple sources and uses it to direct communications. Lead management includes validating leads and distributing them to sales reps. This procedure also involves monitoring and recording online and offline contacts, including emails, website visits, clicks on advertisements, phone conversations, and in-person meetings. Lead management helps businesses gain a deeper understanding of their consumers’ needs and responses.
Here are the six steps needed to complete the lead management process:
Lead Development: Advertising and acquiring leads is the first step in the lead management process. Email, social media, websites, webinars, and sponsored ads are just a few of the lead generation tactics that can be used to reach potential consumers. There are many ways for businesses to generate leads, including outbound and inbound strategies. Outbound strategies involve reaching out to potential customers directly, while inbound techniques focus on educating and connecting with an audience. Outbound lead generation methods include cold calling, marketing, and billboards. Outlets for inbound lead generation include blogging, social media, and online surveys.
Next lead: After obtaining the phone number and email address of potential buyers, marketers can follow up with leads to see if they are interested in a business interaction. Lead tracking or tracking is an essential aspect of lead management as it allows them to identify factors such as:
• Browsing a webpage on the website: Potential customers are looking for a product or service if they go to the pricing page of a website.
• Email Verification: Recipients click on the email and view it to determine if they want to communicate with marketers.
• Response: Potential buyers respond to phone calls, text messages, and other types of communication.
Qualification of the prospect: Qualifying prospects based on purchase intent, purchase ability, and product fit is critical. First, the marketing team collects a prospect’s contact information to analyze whether or not the prospect fits the customer’s profile for the company’s target demographic. The marketing department qualifies a qualified lead as a prospect. A sales professional may schedule a call to review the potential customer’s needs, time of purchase, buying power, and budget limits. The sales team can use this information to decide if the lead is a potential candidate for further research.
Distribution of leads: This approach consists of connecting prospects with the salesperson most likely to convert them into loyal customers. Every prospect has unique needs and goals, and every sales professional has a unique combination of abilities, knowledge, and experiences. The goal of lead distribution is to automate the assessment, qualification, and assignment of leads to a team. It takes into account several factors, such as a rep’s previous experience with similar leads.
Nurture leads: Lead nurturing involves cultivating relationships with prospects to convert them into buyers. An important component of lead management is using tactics like drip campaigns. Drip campaigns are emails sent periodically to prospects. This technique introduces the customer to the company and its communications. This phase allows sales and marketing professionals to build long-term relationships with customers to increase customer retention.
Transferring leads to the sales team: As the final step in lead management, marketers can pass on a qualified lead to a professional on the sales team. Assign numbers to leads based on their interest in products or services to determine if they are ready to transfer to the sales team. The higher the value of the lead, the more qualified it is. Make sure each lead has a first point of contact to avoid repeating the nurturing phase.