Even if your business does not have written documentation of the details of how you move your leads through pipeline or funnel, you must be still following a series of steps for lead tracking the prospective customers that guide you from point A to point B in your sales process.
Now in order to identify the weakest point of your present sales process, it is as simple as identifying the best and the worst things about your lead’s movement in the sales pipeline.Nurtured leads produce, on average, a 20% increase in sales opportunities versus non-nurtured leads. - DemandGen Report Click To Tweet
This is because, even if you get tons of apparently profitable leads from a free lead generation tool, or by sharing free resources, but eventually lose half of them, it could be a sign that you need a better lead tracking solution and the best lead tracking practices that will help grow your business.
Hence irrespective of whether your businesses goals are to provide better service to your customers, or build better social media engagements, or just find more time on your hand, understanding your organization is the primary step to tracking sales leads which can be as easy as using a CRM software or setting up spreadsheets for finding sales growth.
BEST PRACTICES FOR IMPROVING SALES LEADS TRACKING SKILLS
1. Create an Email Sending Sequence
A big part of managing leads involves nurturing the leads. Therefore even before you send your first email to your prospective customers ensure that you have an entire sales cadence ready that you can send out sequentially over the course of weeks or months.
This is because as one of the leading vendors of Salesforce Alternative CRM tools, we have observed that just one email and thereafter one follow-up are never enough to understand the effectiveness of your lead nurturing campaigns.
Hence businesses must use an email tracking tool like a CRM platform that can allow organizations to track and measure email opening rates, click-through rates, replies, and bounce rates of the emails, which are all important metrics in determining the efforts of your email marketing campaigns.
Therefore it is only with a structured email sequence, you can find a controlled variable to judge upon individual lead responses, which is an info that you can track to find the interested prospects and also those leads that require a bit more convincing.
2. Schedule Follow-Ups
We all know that not all the leads that enter the sales funnel will be at once ready to buy your offerings. Therefore it always requires some extra work to be done before finding successful conversions.
Hence it is important that businesses must invest in lead tracking, lead generation, and lead automation software solutions since by actually neglecting to nurture and talk to your leads, you will be eventually wasting a good deal of money that your business has spent on acquiring them in the first place.
Now you might think that tracking 20 potential customers through your sales pipeline is an easy job, but that changes when that number of leads up to the 100s.
This is because losing track of where your leads are in your sales pipeline (which ones are reading what content or which ones have received your proposals) can be detrimental to your sales process.
Therefore you should schedule your follow-ups to understand exactly where your prospects are in the sales pipeline, and what the next step should be so that you do not start overselling even before enough resources have been shared with the prospective customer, or you might forget them altogether and make them fall through the crack.
3. Follow a Lead Cycle That Makes Sense
While it is always beneficial to nurture and build relationships with long-term leads, instead of exclusively going for the relatively short-term ones. Lead cycles can go on for months and might even take more resources than it is worth.
Hence stick to a lead cycle that essentially makes sense with the model of your business, so that you can increase your profits.
This is important since which B2C leads tend to have a shorter cycle, like if you are an e-commerce site, a fortnight of nurturing campaign is sufficient, whereas for B2B leads the nurturing process can last as long as several months and with some lasting up to a whole year.
Therefore imposing a lead cycle for your business, will help to ensure that your sales reps do not keep engaging with the same prospects over and over again. Moreover shortening your lead cycle will also help to keep your sales pipeline fresh with new leads flowing into the funnel and ensure that your sales reps are pursuing new leads every day and thereby connecting with new opportunities on a regular basis.
4. Track the Sales Pipeline
Now while the sales funnel focuses on the stage-by-stage conversion of the leads, the sales pipeline reflects only what is on your plate at this very minute.
Therefore if you are just keeping track of your sales funnel using a sales CRM tool, consider integrating the sales pipeline also into your process.
This is because when you successfully track the leads through the sales pipeline, it becomes much more easier to remain cognizant of what each lead requires from your company.
Hence think of your sales pipeline stages as steps and formulate what actions are needed to be taken at each stage, since when you can organize leads this way and track them according to their placement in the sales pipeline, you can create a standardized process on how your sales reps should approach the leads.
This also makes your lead nurturing process simpler, whereby you can perform mass actions and create relationships with your leads as a group that can reduce your efforts, but you must do it without forgetting about personalization.
5. Practice Lead Scoring
Finally, you must practice lead scoring, which is a process of segregating leads that belong to the highest priority down to leads that of the least priority in the funnel.
Businesses can score their leads using a business CRM tool based on their urgency, project size, availability of resources, and more.
Therefore instead of treating all leads as the same and one, this practice helps to focus more resources, personalization, and efforts on leads that are more beneficial for your business.
Lead scoring also makes it easier for businesses to understand when it is the right time to weed out unresponsive leads from your sales pipeline when you are sifting through hundreds of leads and thousands of data points that need to be monitored every day.
In other words, lead scoring helps your teams to make decisions at a glance without even worrying about making uninformed decisions in their lead tracking endeavors for finding sales growth.
Now as you must have understood by now, that ultimately all these lead tracking practices can only be performed by a single business growth tool which is Customer Relationship Management (CRM) software, which is a platform that is dedicated to lead management and lead nurturing and can easily perform any of these tasks simultaneously without fail.
Additionally, an all in one CRM can also help businesses to understand the best performing sales reps in their teams as well as the movement of their leads along the pipeline, generate reports and make you see trends in your sales processes that can amplify your efforts to stay on top of new and ongoing leads for finding rapid revenue growth.