CRM Lead Management Best Practices for Businesses
In order to kick off successful marketing campaigns, you need a reliable customer database. With the rise of consumer demands, personalized experiences, quality products, flawless service, and never-ending expectations, it surely is a war zone out there. In order to cope with these demands, businesses need to have effective lead generating activities that convert to sales.
Your leads are the lifeblood of your business. Without leads, revenue will dry up sooner or later and you’ll have to close your business. Here’s a problem: leads aren’t easy to come by.
According to Hubspot, 65% of businesses claim that generating traffic and leads is their main marketing challenge. Albeit this challenge hasn’t changed in form, it has changed in nature. Nowadays, there are more touchpoints between consumers and businesses and there’s a growing number of platforms and devices.
On top of the challenges a business faces during the lead management process, they also lose 71% of their inbound leads. This is a huge problem because leads take resources and time. And if they’re laid to waste then, your business is in big trouble.
So how can you avoid this? To avoid wasting more leads and further make lead generation effective, it is important to implement lead management best practices for your business.
At the succeeding parts of this article are some lead management best practices available for you. However, there are certain parts that needs clarification, such as:
What is Lead Management and why does it matter?
Lead management is the process of tracking and managing your prospective customers. Sometimes it is referred to as contact management or customer acquisition management.
It usually involves the following: lead generation, customer inquiry and capture, filtering, grading, distribution and contact,and lead nurturing.
The process of managing leads can help key decision makers understand which strategies are bringing in the best leads in order to optimize their sales strategy to become effective and efficient. Moreover, since lead management involves keeping track of customer interaction and brand experience, by conducting lead management, sales reps and managers can evaluate closely how a prospect was converted into a customer.
How Lead Management can increase your bottom line?
Lead management can have an impact on your bottom line. When your list of prospects is narrowed into segments, it makes it easier for your sales reps to nurture and interact with your leads.
This eventually increases customer satisfaction and makes your sales funnel more free-flowing. When you have an easy flowing sales funnel, you can improve the chances of increasing your bottom line.
What are the best lead management practices you can implement within your business?
Here are some of the best lead management practices you can follow:
Map out your marketing and sales process
A journey to a thousand sales begins with a solid marketing and sales process. Your marketing and sales departments should have their roles defined in the lead management process. This will make sure each campaign runs as smoothly as possible so it is important to get both of your teams on the same page.
Map out the whole process— following the journey of a lead through the pipeline stages. This will guarantee you’re not missing any vital steps. Create a physical outline of how a lead moves through your sales process that you can share with the team.
Define your ideal lead or prospect
Remember that not every lead is a potential customer. Instead of wasting phone calls on a day-to-day basis, why not qualify your leads from the get go?
You can apply a BANT sales qualification strategy to help you determine the ideal lead or prospect for your business. Or you can start by outlining basic characteristics of your ideal customer. This might include their job title, their industry, the challenges they may be facing, and their career goals.
Implement a lead scoring system
A lead score is an assignment of different values to each lead based on the information they’ve submitted, the actions they’ve taken, or other stages they’ve taken towards becoming a qualified lead.
The scoring system will solely depend on how you want things to be done and who your ideal lead is. You can also include deductions in your scoring system based on the behaviors that might move them further away from buying.
Track lead-generating efforts through analytics
Your whole lead generating efforts are made easier when your pipeline is filled with people who actually fit your criteria and ideal customer persona. Albeit, is not a guarantee but it can increase your odds by improving your lead generation strategies.
Go deeper and break up those metrics based on their industry, location, and product. You may find that some of your leads in different areas or different professions don’t share the same interests or preferences. So, keep a close track on them, and improve your strategy along the way.
How Saphyte CRM solution can help you implement these practices effectively
A customer relationship management (CRM) software is more than just a tool for storing vital contact information. You can also use CRM tools to implement your lead management practices effectively.
Finding a CRM system that fits right with your business can be hard. So consider experts in the industry like Saphyte as your CRM partner.
Flawless and Seamless Data Storage
Everything about your business begins with data. Saphyte CRM has contact management features that can provide you with a centralized and secure warehouse to store your quantities of vital customer data.
Saphyte allows you to gather customer information from landing pages on your website through Form Builders. Or integrate your social media platforms to the system to obtain additional info.
With Saphyte’s features like Sync and Saphyte Scan, you can also extract data from different sources (LinkedIn profiles or personal business cards). This allows you to keep your data under one roof for easier data management.
Having all your data in one secured place, you can have immediate access to relevant information that initiates the execution of your lead management strategies.
Close more deals
Saphyte’s Client Management modules, allows you to store your contact’s details and manage all customer information in one repository.
The Client Management modules have tools like Categorization, Status and Updates, where you can conveniently organize and label your data and group your leads accordingly. With these tools, you can further score your leads, organize your data, manage daily tasks, jot down notes, generate reports, and nurture important client relationships.
With Saphyte, you can automate sending your email marketing materials on a schedule that works around your sales process. Saphyte’s workflow is convenient and beneficial when you want to create awareness and initial contact with your targeted list.
These intelligent workflows can easily implement your business processes. With its user-friendly interface, all you have to do is drag and drop the elements, click and connect the nodes and elements into your workflow sheet, and build your email process flawlessly.
Data shouldn’t be placed in a vacuum. Hence, by storing it simply won’t be enough. Saphyte gathers in customer information, and analyzes them with Sales intelligence tools to gather insights.
Along with Saphyte’s customizable dashboard, you can have a concise yet accurate view of the metrics that matters to you, to keep you up-to-date and on the loop. This feature can support you with valuable information that allows you to effectively implement your lead acquisition strategies.
Subscription Fees that Fits with your Business
Saphyte is a pay-as-you-go SaaS cloud-based CRM. You won’t need to install the software to your PC and you don’t have to go to the office to have access to your CRM. All you need is a Saphyte account, a browser, and a reliable Internet connection.
Each subscription plan is inclusive of free demo and one-on-one product training. No set-up fees, no extra or hidden charges, no maintenance fees, and a 24/7 expert customer support availability.