Hi there, my name’s Lusha and I’m passionate about helping salespeople optimize their sales process and convert leads into customers. Today I’d like to talk to you about customer relationship management (CRM) and how lead management can help you smash your sales targets. Read on to find out more!
What is lead management?
In a nutshell, lead management is a critical component of your sales pipeline that can help you turn your prospects into customers and build lasting relationships. It works by tracking, managing and nurturing your leads throughout the entire sales process to ultimately turn them into long-term customers.
Nurturing your leads through every stage
Let’s just take a minute to recap the sales lifecycle:
- Your marketing team will create interest through a variety of tactics such as blog posts, SEO and social media.
- When visitors respond to your content their data will be recorded, turning them into sales leads.
- These leads are then sorted into warm leads that are contacted directly by sales reps or scheduled for follow-up processes to build interest.
- If the process ends with a sale, the lead has successfully traveled through the sales process.
But the work doesn’t end there. As companies grow, lead management becomes more and more complicated. Existing customers need to be nurtured in order to win repeat business, other leads need to be monitored throughout their journey ready to be turned into customers, and with new visitors resulting in new leads too, there’s a lot to keep track of. That’s why choosing the right CRM system is so important.
Why is solid lead management so important?
As your business grows, solid lead management becomes increasingly important so you can create a pool of interested prospects and filter out any unqualified leads. Not only that, but managing leads also allows you to understand which tactics are bringing in the best leads so you can optimize your sales and marketing strategy accordingly.
Utilizing an intelligent CRM platform such as Hubspot or Salesforce means you can take customer service to the next level and make sure no potential leads fall through the cracks. Did you know that a whopping 80% of marketing leads are lost or ignored? So by making sure all of your data is in one place and accessible to everyone, you can make informed decisions, turn your leads into customers and make sure no one gets lost in the system again.
If that wasn’t enough, solid lead management can also give you data-driven intelligence which increases your chance of closing a sale, as well as helping you to be more organised, speed up response times – which in turn results in longer-lasting relationships with prospects.
What are the benefits of a good lead management system?
What do you need to look for in a lead management system to ensure you are getting the most out of it? And what are the real benefits?
Full integration with your website
When a new lead fills out a form on your website, this information gets pulled straight into your CRM system so you can begin following their journey. For example, Lusha has a Salesforce app that can integrate and enrich business profiles with emails and direct dial numbers, to shorten research time and increase response rates.
Create a lead qualification framework
Creating a lead qualification framework that can be managed from your CRM system enables you to approach your leads at the right time. Lead qualification helps you create, track and manage campaigns effectively. Recent research shows that a staggering 80% of marketers pass leads onto sales with no qualification – but the right CRM system can ensure you never get another unknown lead from marketing again.
Interactive monitoring and reporting
A good CRM system will provide you with the tools you need to monitor performance and close sales faster, from real-time views of sales performance as well generating automatic reports to deliver deep sales insights and improve performance. Not only that, you can also monitor activity, assign tasks and manage sales at the account level to increase efficiency.
Set up automated responses
By setting up automated personalized email responses you can respond to any new leads instantly. The facts speak for themselves: 30-50% of sales go to the vendor that responds first and companies that contact customers within one hour after receiving an inquiry are seven times more likely to begin a meaningful conversation with a key decision maker. And with 94% of companies admitting that personalization is critical to their lead nurturing process, the benefits of CRM are clear.
Get a full overview of your lead profile
What pages did your lead profiles visit on your website? What pieces of content have they downloaded? What forms have they filled out? Do they have an order history? Having a full overview of your leads and their history means you know exactly what they are looking for and have all the information you need for a more personalized approach.
The backbone of a successful sales operation
Lead management keeps sales operations alive and moving. After all, without good leads, there’s no need for a sales team in the first place. By managing leads effectively across marketing and sales, you can dramatically increase sales results and reduce the time needed for almost all stages of the sales cycle. From SDR reps to highly-paid sales executives, lead management benefits all roles in the sales department and creates efficiencies across the entire organization.