Lead management is the process of capturing, tracking, and encouraging qualified leads until they become paying customers. It is a system for organizing potential customers so that companies can understand where they are in the sales funnel and adapt their interactions to encourage sales. To maximize success, lead management should be personalized and responsive, and ideally follow a predefined sequence. The first step in lead management is to create a way to generate leads.
This includes having a website that attracts and encourages qualified non-sales-related leads. If this step is not taken, there will be no leads to qualify, encourage, drive sales, or even measure. Answering questions about lead generation will help identify any gaps in the process and what aspects may need improvement. The second step is to qualify and segment potential customers.
This involves creating a lead qualification framework or segmentation strategy. This will help identify which leads are ready to make a purchase and which need more nurturing. It also helps determine which lead promotion activities can be automated. The third step is to promote leads.
This includes writing effective sales emails and other content that will convert contacts into qualified sales leads. It also involves understanding what emails or content influence most purchases. The fourth step is to route leads. Automating lead routing ensures that the right person follows up with the prospect in a timely manner.
Lead management software hosts information from the entire lead management process in one place, so sales teams can quickly gain insights into conversions. The fifth step is to measure success. This involves using tools such as HubSpot's lead management auditing worksheet to complete an audit of the process. It also involves consulting with experts such as The Pedowitz Group (TPG) to learn about patterns that should be adopted in the organization's lead management process.
Lead management is an essential part of any successful business strategy. By following these five steps, companies can ensure they are properly nurturing potential customers and have a strong interest in their product before their sales team tries to close the sale.