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Leads are the life & blood of any business. They need nurturing and guidance at every step to become sales-ready. But is it possible to give full attention to every lead? Not exactly! What’s next? Lead management using CRM is the right solution.
Leads are potential customers who may or have shown an interest in your product but haven’t made a purchase yet. Whether you’re starting a business or running a well-established firm, you always prefer having a handful of leads.
But just gathering leads is never enough. Leads always require guidance and nudging until they become sales-ready. Let’s talk about how lead management impacts sales revenue and what are the benefits of managing leads within a CRM.
What is Lead Management?
Lead management is the process of guiding, nurturing and following up with leads to make them ready for the purchase. 🙂
Lead Management Processes
Lead Tracking and Enrichment: Lead tracking includes getting browsing patterns, email engagement, links clicked, etc. Tracking the activities of leads helps in gaining valuable insights about their behavior & requirements.
Lead Distribution: Lead distribution is distributing lead managing responsibilities to the right person or department. In this case, lead management software helps in customizing and creating workflows for automatic lead distribution.
Lead Nurturing: It helps in guiding the leads until they become sales-ready. Educational & informative contents, product demos, etc help in building trust and awareness. It also helps in the decision making of the leads.
A smart lead management software helps in streamlining and automating these processes. If you’re not using such software or a CRM that carries lead management functionality, here are 5 BIG reasons that indicate you need one!
- Scattered lead information
- No idea about lead activities
- Missed follow-ups leading to lost opportunities
- Inability to push leads towards the purchase
- No lead prioritization
Are you facing the above dreadful issues in your business? If yes, you’re losing sales opportunities due to lack of a proper lead management system.
Enters a CRM!
How Lead Management in a CRM, Increases Sales?
High ROI from Leads: Instead of running a traditional marketing campaign, lead management in CRM enables businesses to utilize resources efficiently in order to increase sales revenue from leads. CRM can track and nurture targeted leads and help you take the right move at the right time when the lead is ready to buy your product/service.
Increase in Profits: The cost of getting a new customer is higher than holding on to the existing ones. Sales, marketing and customer service… each play important roles to ensure that leads are properly managed. Lesser expenses mean the chances of higher profits.
Improve Lead Conversions: When it’s about improving the lead conversion rate, try looking for gaps in your lead funnel. Find out where does the conversion get weak, & what’s the reason behind it. Fixing these issues can enhance the number of sales-ready leads you’d have.
Over To You:
By delegating work to your sales team with a CRM tool, your sales folks would be able to navigate customers through the sales processes more efficiently. Along with that, they can also optimize their sales efforts to focus more on actions that yield the best results.
What are you waiting for? Want to manage your leads with a CRM? Try out Wakeupsales. Its lead management feature enables you to add, manage and nurture leads like never before.