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A Step-by-Step Guide to Lead Management Process

Martech Outlook | Wednesday, June 29, 2022

Lead management is obtaining and utilizing data from numerous sources to better understand and communicate with potential customers.

FREMON, CA: A lead is a person or business interested in product, service, brand, or marketing content. Professional lead managers employ sales methods to convert leads into committed customers. Learning about lead management will help marketers establish customer acquisition and retention tactics.

Lead management is gathering lead information from multiple sources and utilizing 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, ad clicks, phone conversations, and in-person meetings. Lead management assists firms in gaining a more profound comprehension of their consumers' needs and answers.

Here are the six steps necessary to finish the process of lead management:

Lead development: Advertising and acquiring leads is the first step of the lead management process. Email, social media, websites, webinars, and sponsored commercials are just a few lead generation tactics that can be utilized to reach potential consumers. There are numerous ways businesses generate leads, including outbound and inbound strategies. Outbound strategies involve contacting potential clients directly, whereas inbound techniques focus on educating and connecting with an audience. Methods for generating outbound leads include cold calls, marketing, and billboards. The outlets for inbound lead generation include blogs, social media, and online surveys.

Lead following: After obtaining the phone number and email address of prospective purchasers, marketers may perform a lead following to see whether they are interested in a sales interaction. Tracking or following leads is an essential aspect of lead management since it enables them to identify factors such as:

• Webpage browsing on the website: Potential customers are in the market for a product or service if they navigate to the pricing page of a website.

• Email verification: Recipients click and view email to determine if they wish to communicate with marketers.

• Response giving: Potential purchasers respond to phone calls, SMS messages, and other types of communication.

Lead qualification: It is essential to qualify leads based on purchasing intent, purchasing capacity, and product suitability. First, the marketing team gathers a lead's contact information to analyze whether or not the lead meets the customer profile for the company's target demographic. The marketing department labels a qualified lead as a prospect. A sales professional will eventually organize a call to review the prospective client's needs, the timing for purchase, purchasing authority, and budgetary limits. The sales team may use this information to decide if the prospect is a potential candidate for further research.

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Lead distribution: This approach involves matching leads with the sales representative most suited to convert them into loyal customers. Each lead has unique needs and goals, and each sales professional has a unique combination of abilities, knowledge, and experiences. The goal of the lead distribution is to automate the evaluation, qualification, and assignment of leads to a team. It considers several factors, such as a representative's prior experience with similar leads.

Lead nurturing: Lead nurturing is cultivating relationships with prospects to convert them into buyers. A significant component of lead management is employing tactics such as drip campaigns. Drip campaigns are emails that are sent periodically to leads. This technique introduces the customer to the company and its communications. This phase allows sales and marketing professionals to create long-term connections with clients to increase customer retention.

Lead transfer to the sales team: In the final step of lead management, marketers can forward a qualifying lead to a sales team professional. Assign numbers to leads based on their interest in products or services to determine if they are ready to be transferred to the sales team. The greater the lead's value, the more qualified it is. Ensure that each lead has a first point of contact to avoid repeating the nurturing phase.

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