Attract more leads with a powerful lead management software

Every business, big or small, depends on sales leads. For businesses to grow, you have to convert leads to loyal customers. And to do that right, you need to manage sales leads in an organized manner. In this page, you will learn everything you need to know about sales lead management and how a lead management software can help close deals faster.

lead management software

What is lead management

 

Lead management is the process of  capturing leads, tracking their activities and behavior, and qualifying and engaging them until they are ready to be passed on to quota-carrying sales executives.

The Lead Management Process

A successful and efficient lead management process includes the following five steps.

Step 1: Lead capturing

During the lead generation activities, you would have contacted potential buyers through online sources such as email, social media, webinars, and paid ads. A good lead management software ensures that every lead is automatically fed into the CRM system from web forms, emails, and chat, preventing prospects from falling through the cracks. A good lead management software enables you to send and track emails and notify you of incoming chats so you can connect to visitors without leaving the CRM.

Step 2: Lead enrichment & tracking

Salespeople shouldn’t be wasting time hunting for information on each lead or on manual data entry. A robust lead management software automatically populates a lead’s profile with publicly available information such as their job title, company name, and social media profiles. The lead management software also tracks the lead’s activities on your website—pages visited, links clicked, resources downloaded, etc.—and product and email engagement. These valuable insights around leads’ behaviors allow salespeople to understand their intent and personalize sales efforts.

Step 3: Lead qualification

One way to effectively qualify leads is through Lead Scoring—a model that ranks leads based on their interest in your product or service, demographic information, buying journey, and engagement with your company. By assigning scores to leads based on factors like job title, country, website behavior, and engagement with your email, sales reps can easily identify the right sales leads and invest their time in making a sale. A lead management software with built-in lead scoring capabilities will be highly cost-effective and beneficial for your sales teams. They can also track week-on-week increases and decreases in lead scores and follow-up based on the lead’s activity.

Step 4: Lead distribution

The sooner your sales reps contact leads, the more likely they are to win them over. Manually assigning a high volume of leads to the right sales reps can be time-consuming and will delay lead response time. A good lead management system automatically assigns leads to sales reps on a round-robin basis, assigns phone numbers to territories, and transfers calls to sales teams. This way, your sales team can prioritize leads. With a lead management software, you can also generate reports to identify the territories that are bringing in the most profit, sales reps who are meeting targets, and potential sales areas to improve.

Step 5: Lead nurturing

Not all your leads are sales-ready. Many of them could still be in the research or awareness phase, trying to figure if your service would solve their pain points. Lead nurturing seeks to educate and demonstrate the value of your product/service. With a lead management software in place, you can send nurture campaigns to these leads—who are not quite ready yet to make a purchase. This is where you educate and demonstrate value through content and promotional offers thereby helping them in their decision-making process.

Top lead management software comparison

 

CRITERIA
G2 Rating
4.7
4.7
4.3
4.3
4.3
4.3
4.2
4.2
Pricing

$12/user/month (when billed annually)

$40/user/month (when billed annually)

$12.50/user/month (when billed annually)

$25/user/month (when billed annually)

NPS Score

85

50

50

43

Payback Period

7 months

12 months

13 months

17 months

Implementation time

0.6 months

1.1 months

1.3 months

2.4 months

Webforms
Built-in phone
Auto-profile enrichment
Lead Scoring by property, website, email and in-app
Auto-lead assignment
Free email, phone and chat support

Best Practices in Lead Management

Align sales process and pipeline 

One of the most important steps in lead management is to have a clear sales process and a sales pipeline in place.

Right from lead generation to lead capturing, lead assignment, engagement and nurturing, to closing the deal, all sales teams need clarity on the channels to be used, the engagement tactics, and the procedure to be followed in each stage.

lead management software sales process

Focus on clear communication between teams 

Successful lead management hinges on clear communication between various teams involved in the process. This includes marketing, inbound sales, outbound sales, and sales operations.

Communication between the teams should be swift and clear while passing on, reaching out and following up with leads.

Use a lead management software that can help the different teams in your organization get context and visibility into your pipeline and communicate better among themselves.

Lead management software team communication

Identify when leads are sales-ready 

Lead qualification determines if a lead is ready to buy or subscribe to your service or product.

Use the BANT technique, where salespeople assess a client’s ability to purchase based on four criteria: budget, authority, need and time.

Understand if your lead is interested in making a purchase or is still in the awareness stage.

A lead management software can rank your leads based on their engagement and interest in your product/company and identify leads with a strong intent to purchase.

Monitor lead generation efforts 

There may be numerous lead generation campaigns across your company.

Efficient lead management depends on tracking every campaign through a lead management software and measuring effectiveness using sales reports.

This can help you identify lead sources that bring in the most sales-ready leads so you can invest more in those sources. 

Lead management software lead monitoring

Challenges with lack of lead management 

Manually hunting for leads, updating your database, typing out emails, and following up on a regular basis can get exhausting. Especially if you are looking to expand your business. Without an efficient lead management system you will find it hard to identify lead leakage. A lead management system helps you automatically capture leads into your system, enriches it with information, scores it based on engagement, and helps you assign it to your salespeople, all within seconds. 

No single source of information

Sales reps are constantly juggling between multiple tools to access lead information.

No initial lead qualification

You don’t have a process or methodology like ranks and scores to qualify and unqualify leads.

No insight into lead’s activities

You aren’t tracking the prospect’s activities on your website, product, and email; losing your potential buyers.

Lack of visibility

Sales reps don’t have visibility into the lead’s buying journey to provide the right collaterals and documents to move them through the sales cycle.

Missed follow-ups

Sales reps are forgetting to make a follow-up call or email, making the prospect feel neglected and move to a competitor.

Lack of lead nurturing

Your sales teams are focusing more on the ‘good’ sales leads that the ones who require extensive follow-up and relationship building are ignored.

 

Top-rated lead management software

 

Benefits of using a lead management system

Talk to quality leads

Sales reps can quickly focus on the sales-ready leads; maximizing sales opportunities.

Engage with context

With a centralized lead database, your sales reps can quickly get context to make meaningful conversations.

Improve productivity

Automations in the lead management process saves your sales team time and effort to do what they do best—sell.

Quick response time

Sales reps can reach out to prospects via phone or email by looking at their buying intentions, increasing the chances of making a sale.

High ROI

Identify which lead source is bringing good, quality leads, and maximize your efforts in those areas to increase your ROI.

Measure results

Get invaluable insights into the activities in the lead funnel, such as the territories generating the most leads, the response time of each sales rep, etc.

Now that you have a fair idea of how a lead management software can help your business, what next?

Get the best lead management software

Try Freshsales CRM. It comes with built-in lead management features, where leads are automatically captured and enriched in your CRM database.

Track lead activities, qualify them with lead scoring, and activate email campaigns to nurture leads, all from within your CRM.

Yes, you can do all this from a single sales tool, one that’s GDPR compliant.

Sign up for a 21-day free trial along with 24/7  phone and email support.

Lead management software

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