Importance of Lead Management in CRM
Organizations create prospects via various sources like ads, cold calls, emails, and more. Today, it is crucial to have efficient customer relationship management software to handle them. Do you think an Excel sheet will be enough? Then you are thinking for the short-term.
Several businesses go through difficult times converting leads to clients as they are unable to discern the hot leads from cold ones. Hence, they end up missing out the important opportunities. Deploying CRM tool provides you a centralized method to manage your prospects, maintain proper communication, and nurture them constantly.
1. Capturing Leads
Organizations generate leads via multiple online and offline channels. Traditionally adding them into the cloud-based CRM system isn’t feasible, specifically with high volume. A robust lead management solution makes sure that each lead is fed into the solution automatically from emails, web forms, chat, thus preventing them from falling through the cracks.
Web forms enable you to generate and customize forms as per your business and brand needs. Later embed them within the emails or website in order to capture high-intent prospects. The information in this form gets captured automatically in the CRM solution without any code.
The CRM software solution integrates email customers into the system, enabling you to send and get emails while handling client information in a single place. The emails are automatically linked to the relevant contact, and easily grouped by conversations. Now monitor emails, generate templates, and send bulk emails without leaving the solution.
2. Monitoring Your Leads
Once the prospect enters sales cycle, their profile gets enriched with publicly available details like jobs, business name, social media profile, and much more. It ensures that your teams do not need to spend productive hours on entering data manually.
By monitoring website visitors, you can receive a visual idea of what your prospects are searching for in your website, where they are in the buying journey, and how they are to buy your services. Recognizing their purchasing intentions aids you to interact better with your leads by backing you up with the mandatory context.
CRM monitors their activities on the website like page visits, links clicked, and more. Such valuable insights around their behavior enable the salespeople to know their interests and personalize sales efforts.
3. Qualifying Your Leads
An efficient approach to qualify the prospects is via lead scoring. It is a process for ranking the prospects to determine a lead’s sales readiness. Prospects are scored on the basis of the interest they show in the service, their present place in the purchasing cycle, and their fit in regard to the business.
Companies score leads by allocating points, deploying rankings like A,B,C, and D or leveraging the terms like hot, warm, and cold. By allocating scores to the leads based on country, job profile, behaviour, your salespeople can differentiate unqualified and qualified prospects quickly. Leveraging scores to qualify the leads enables the sales department to invest time in pursuing the right sales leads for business.
4. Lead Distribution
When you are running a small business, understand your sales department thoroughly. Allocating prospects to the correct sales reps isn’t an easy task. But while your sales team is growing, the conventional process will delay the lead response time.
The sooner they contact leads, the more likely they will purchase from you. A good CRM solution must have the ability to assign leads to salespeople based on certain criteria. Lead distribution to the right territories, the sales department can prioritize them better.
With CRM solution, you can generate a systematic rule-based sales territory management plan in order to organize the team, auto-allocate leads, assign contact details to territories, transfer calls to them, and so much more.
Measurable Benefits of Managing Leads
a. Connect with Right Leads
By managing prospects, you can focus on the sales-ready leads thereby maximizing sales opportunities.
Salespeople engage with the leads with meaningful conversations while they are backed up by mandatory context.
c. Boosts Response Time
Reach out to the leads through calls, email, and chat, to receive instant context on their purchasing intentions and boost the chances of making a sale.
d. Enhance Productivity and Maximize ROI
Prioritize and allocate the correct prospects to the right salespeople, and minimize lead leakage thereby allowing them to do what they can do the best, i.e. selling.
With the help of CRM system, you can easily personalize and coordinate interactions. Plus, you can monitor lead conversations to understand where they lie along the pipeline.
Without the right CRM solution, you cannot get the complete picture of your potential prospects, and this is no way you can generate sales. Lead management module in CRM application provides everything you require to maximize the chances of conversion and make the most of the sales approach.