The Value of Lead Management Software
Lead management has jumped to the top of many companies’ priority lists as modern sales processes increasingly rely on digital tools, automation software, and multiple channels.
Customer Relationship Management (CRM) systems have helped organizations adjust to these changes by creating closed-loop systems. However, the challenge to qualify, distribute, and track leads persists.
Innovative business owners and company leaders have found a solution to this problem with lead management software that streamlines their sales process and attracts leads all the way through the sales pipeline. The best lead management tools allow teams to spend more time converting leads and less on managing them.
What is lead management?
Lead Management is the process of acquiring, tracking, and managing prospects in order to more efficiently convert them into customers. The process involves multiple phases:
- Lead Capture: Visitors become leads through a variety of means that include offering their contact information or filling out a web form.
- Lead Scoring: Leads are rated based on their interest level and needs.
- Lead Filtering: Leads get sorted into various categories including unqualified or qualified leads.
- Lead Distribution: Qualified lead data is delivered to the appropriate sales rep who then initiates contact.
- Lead Nurturing: Sales staff follow up with their leads through an email marketing campaign, phone calls or other means.
Managing 10 leads has challenges. Managing 1,000 has even more. As the number of leads grows, so too does the need for lead management software so that teams can efficiently and effectively close sales.
Difference between lead management software & CRM software:
CRMs bring a ton of value to companies, and on the surface, lead management software might not look much different. When you dig a little deeper, though, you can start to see some major differences between the two.
A CRM platform focuses on existing customers. Users can provide customer support information, nurture relationships, and maximize lifetime values. There’s just one little shortcoming, though. You need to have those customers in order to foster those relationships. That’s where lead management software comes in.
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