Lead management using a CRM platform can make almost any sales team better at converting leads into deals. We get a lot of questions from small business owners about lead management in CRM. Many people ask, “What is sales lead management in CRM” or as some people ask “What is customer lead management”. In this article, we’ll answer these and many similar questions.
A lead is a person or business who may become a customer or a client. Companies use a variety of methods to generate leads including advertising, direct marketing, networking, outbound calls, website inquiries, email marketing, and social media marketing, etc. The sales process begins when a sales executive qualifies and places the lead data into a company’s sales pipeline. He then contacts the lead through email/call/personal visit etc., to understand his requirement, informs the prospective customer about his product/service, and eventually persuades him to buy the product or service. The lead-to-customer conversion process may happen instantly or may take days, weeks, or even months, depending on various factors such as the lead’s decision-making process, buying need and urgency, etc.
The entire process from finding or generating a lead to pursuing and completing a purchase is defined as Lead Management.
The definition of lead management above pretty much explains what is lead management. The entire process from getting a business inquiry to converting that inquiry into a purchase is called sales lead management.
Good lead management will help you determine where your leads are coming from and which leads are converting. This will help you track sources with higher conversion potential so you can focus your efforts and spend your resources appropriately.
An effective Lead Management is important to you because-
Setting up a robust lead management process is the first step towards your success. Here’s how to do it-
Step 1: Identify Your Leads
Step 2: Build a Lead Scoring System
Step 3: Create a Lead Nurturing Process
Step 4: Assign Leads to the Sales Team
Step 5: Evaluate & Optimize
We have written an eBook to help small business owners like you manage your leads effectively and convert more of them into paying customers.