Why Businesses Need Lead Management Software

What Is Lead Management System?

Lead management system bridges the gap between administration, marketing, and sales. It identifies leads (potential buyers), educates them, engages them, inspires them to act, and, when the leads are judged qualified, these are passed by marketing teams to sales professionals. Lead management identifies potential customers and nurtures them through a conversion funnel to drive revenue and profit. It is a streamlined process specially designed for customer acquisition.

Lead management provides a proven framework for your salespeople to identify which leads are worth the effort and time right now. It helps your sales team to focus on high-quality leads that deliver quick revenue. Fast leads conversion is more important than the numbers of leads existing in the sales funnel.

Bespoke CRM Solutions for Startups & Small Businesses Specially Designed by Web Alliance  

Five Stages of lead management

Lead management is an effective management tool for building relationships and increasing sale revenue with streamlined data management. The strategically developed lead management system streamlines all five key stages of sales management-

• Lead Collection: Lead collection through an omnichannel process is a critical functionality of bespoke lead management software. The performance of most businesses depends on the quality of custom lead management solutions.  
• Lead Storage: The contact details of collected leads are stored in the integrated CRM (customer relationship management) solution.  It allows cross-functional teams to access information about particular leads easily.
• Lead Data Maintenance: Working over the right lead at the right time is an important strategy to achieve the maximum at minimum effort and costs. The custom lead management software analyzes the leads based on their qualification parameters to guide the salespeople to act on a priority basis.
• Lead Data Usage: This process includes reaching potential customers, building a relationship, and maturing leads with personalized attention to multiple touch points like email, messaging, ads sharing, blog promotion, testimonials, clarifying queries, etc.
• Cleaning Lead Data: Cleaning stored data is as important as building the database. Verifying data information, deleting outdated data, and correcting mistakes are three key steps in this process.  According to a survey report, 47% of data engineers accept that poor data quality eats up to 25% of a company's revenue.

Nine Tips to Manage Your Leads Efficiently

Improving lead management is a consistent process. Lead management rests at the top of the sales funnel. All-size businesses need a bespoke lead management system to convert leads into customers by assessing and addressing their requirements and expectations to market their products and services in a competitive marketplace.

1. Review Existing Lead Management Process: The process contains many steps to check the existing lead management system like to analyze lead sources, optimising lead nurturing, testing different strategies, and analyze results, etc. If you are not using a bespoke lead management system integrated into a custom CRM solution, it is a tough exercise.
2. Optimize Lead Generation Strategy: To generate more numbers of high-quality leads, you should optimize lead generation strategies and practices like SEO, SEM, SMM, multi-level marketing through channel partners, etc.
3. Have an Easy-to-Use Lead Management Software Solution: If you are still not using bespoke lead management software, it is time to hire the best bespoke software company to develop and integrate the best cloud-based CRM with lead management.      
4. Develop a Sales and Conversion Funnel: The lead conversion funnel guides salespeople from one stage to another as well as it helps them to evaluate their efforts. Alerts triggered based on goals and analyzed lead value keep the sales people on the right track.  
5. Integrate real-time reporting system: It fasters communication and information access for anyone involved in management, marketing, and sales activities to take informed decisions. Real-time reporting helps you track the progress of lead conversion in the pipeline.     
6. Develop an Engaging Lead Nurture Campaign: It is the process of engaging and building relationships with potential customers who have shown interest in your products/services but couldn’t decide to buy. Automated communication in a variety of forms reduces workload of salespeople. AI-driven lead nurture campaign integration helps also to build and strengthen customers’ trust in your brand.
7. Define The Distribution Of Leads: You should have an intelligent system to automatically assign leads to sales people according to their workload, availability, and engagement.
8. Track and Measure Your Leads: It is a must to track and score leads to be sure that leads move through the sales funnel without being lost or without being sent back for more nurturing. Analyzed insights about marketing and sales ROI keep you informed about stage-specific and person-specific performances. 
9. Optimize Leads Capturing Forms: More leads you get, the more you get the sales revenue by converting more leads to sales. The mobile users’ friendly simplified short forms, designed with adequate whitespace, increase numbers of leads captured.      

Nine Key Features & Functionalities of Lead Management CRM

Every business works with a different strategy for different communities of target customers; so, one off-the-shelf lead management software hardly provides all the features and functionalities that a particular business needs. To resolve this issue, you need to hire a bespoke CRM software development company with experience in lead management integration. When you hire an intra-country CRM software development company, you get the benefit of lead management developers experienced and familiar with the local quality parameters. For example, if you have a business in the UK, hiring Northampton-based Web Alliance for bespoke CRM development with lead management software integration will be a good idea. The key features and functionalities, you should have in lead management CRM solution, are-

1. AI-Driven Database Management
2. Automated Work Alignments
3. Automated Task Management
4. Quick Response To New Leads
5. Process Automation
6. Automated Data Collection
7. Scheduling And Tracking Leads
8. Detailed Analysis
9. Tailored-To-Need Reporting

Is It Good To Invest In Lead Management Solution? Eight Benefits of Lead Management 

Is it worth hiring a CRM software agency for lead management integration? Almost 72% of the top successful businesses use a marketing automation solution- HubSpot. 65% of marketers trust automated email campaigns for lead management-Ascend2. According to 49% of businesses, time-saving on repetitive tasks as well as help with personalized customer communication are the top reasons for leads management automation. Effective lead generation management is the lifeblood of any business but 63% of marketers say lead generation is a robust challenge. The key 8 benefits of hiring a bespoke lead management software company in the UK are- 

1. Granular Segmentation
2. Precise Lead Routing
3. Ai-Driven Sales Leads Management
4. Accurate Budget Allocation
5. Automation & Scalability
6. Improved Customer Journey
7. Informed Marketing And Sales Agents
8. Sales Cycle Boost To Compete Better

How to Choose the Best Lead Management Solution for Your Company: Eight Questions

The answers of certain questions will help you hire the right lead management software agency for the right bespoke lead management development -

• Does the technology suit to my lead management users?  
• Should I choose an on-premise or a cloud based lead management system?
• How user-friendly is it?
• How customizable is it?
• What are my short-term and long-term budgets?
• What type of automation solution do I need- CRM with lead management or ERP with lead management?
• Can it be extended and advanced with the growth of my business?
• Will it integrate seamlessly with the existing system?

The best lead management software solution covers each aspect of a sales process addressing the concerns of marketing and sales people. Custom lead management software equips marketing and sales teams to do their jobs faster with escalated performance.