Lead management is one of the most important aspects of marketing. If you don't optimize your lead management, how else will you know who's looking at what and how to make them interested in your product?
Lead management helps with figuring out where customers are coming from and if they're likely to be good customers or not.
In this blog post, we'll teach you how to optimize your lead management so that you can find the best way to target potential customers.
What is lead management?
Lead management is a way of organizing your leads for more effective marketing. Leads are customers who have shown interest in what you're selling but haven't actually purchased anything yet.
Lead management is based on lead scoring. Lead scoring is a number between 1 and 100 assigned to a lead depending on how likely they are to buy your product.
The higher the score, the more interested in your company they probably are.
For example, a high-scoring lead might be someone who just filled out a form on your website. A low-scoring lead might be someone who emailed you asking about prices.
If you know what's being looked at and who's looking at it, then you can better engage with prospects when they're hot or get back to people when they're cold.
If someone visits your website but doesn't purchase anything, they become a lead. Then you can use tactics like email marketing and remarketing ads to further qualify them as either hot or cold leads.
Hot leads are people who have shown real interest in what you're selling; cold leads haven't been interested enough yet.
If someone sees one of your ads but doesn't click it, then that's not going to be a very useful customer anyways (and it takes money away from other potential customers). You'll want to focus on converting more hot leads.
Lead management starts with lead generation when you capture leads for the first time. It continues until customer care when your leads become customers who are actually buying.
How will lead management help your company's bottom line?
At its core, lead management is about improving the ROI of marketing so that you can spend less on ads and make more revenue from sales.
Ideally, you want to invest in a system that lets you know which leads will be interested in what you have to offer before they even contact your company.
That way, if someone fills out a form or clicks on an ad but doesn't buy anything yet, all it takes is one simple email asking if they're ready to get started for them to start as soon as possible!
In contrast, if you're just throwing ads out there without any kind of lead management, you're investing money into a bunch of cold leads who haven't shown an interest in your product yet.
By converting more hot leads, you'll be able to increase sales and revenue. Your cold leads may not be as willing or ready to buy yet, so don't waste time trying to convince them.
Your time is better spent on nurturing hot leads. Plus, you want to make sure that the people who look at your products are interested in buying them and not just window shopping.
How to Optimize Your Lead Management?
If you're struggling with how to optimize your lead management, here are some tips for improving it:
1) Standardize your data
Having a system that lets you view all the information about each customer together is important for optimizing what you're doing. It lets you view everything at once and then make comparisons between customers more easily. This way, all the information about each customer can be standardized and organized to avoid getting lost or confused.
Without standardizing data, when someone contacts your company asking about prices and a lead comes in asking about the same thing, you won't know if they're the same customer or not.
They might be two different customers who happen to be having similar questions, or else one might have already been contacted and then came back with their new question.
You want to make sure that whoever contacts your company is always assigned the right assets (like phone numbers and email addresses) so that both of these people are reached out to properly.
2) Create a lead qualification strategy
Before sales reps start calling customers or emailing leads, have a lead qualification strategy in place to make sure the people doing outreach are reaching out to people who actually have an interest in what your company is offering.
Leads should only be handed off to a customer service rep once it's been determined that they're ready for assistance and aren't just visiting the website. Otherwise, sales reps won't know who they can help and when so their time will be wasted instead of productively spent on making new connections and closing deals.
A good lead qualification strategy is asking questions like "Are you currently looking for products like this?" upfront so that you don't waste time if someone isn't yet ready for help.
Leads who are more open to being contacted about your company's products or services will have more information available in their profile and be prioritized higher within the lead management system.
3) Use automation
Suppose your marketing system isn't well organized enough to separate leads from customers and prioritize one over the other based on their actions (or inaction!). In that case, using automation will help you keep track of who needs to be contacted when.
The more automated your lead management system is, the easier it will be for people to contact leads through your marketing system without worrying about whether leads are ready yet.
Set up rules that tell your system what to do and in what order. For example, if someone fills out a form but doesn't buy anything right away, they'll be categorized as a lead and then prioritized lower than other leads who haven't filled out any forms or contacted your company yet.
Automation also lets you set messages about specific products so that when a customer is interested in those particular items, they get more information about them from their personalized message. This way, the lead management system can automatically know which customers are most likely to convert into sales.
4) Establish a marketing calendar to help keep track of activities and deadlines
A marketing calendar will help keep track of everything to make it easier for your sales team, customer service reps, and email marketers to coordinate their messages and activities with each other.
Instead of relying on everyone to keep track of their schedules and activities, it's best to have a marketing calendar set up for the whole company to delegate tasks and meet deadlines.
A good marketing calendar will let you know what needs to happen next so that conversations don't drag on or get dropped entirely.
It also helps if each lead is put into categories and assigned different sets of campaigns according to where they are in the conversion process from visitors all the way up until they make a purchase or when they are ready for sales rep contact.
That way, everyone can see who needs more attention as soon as possible instead of having leads go unanswered because no one else knows they need help.
5) Make sure your website is optimized for lead conversion
It's not enough to just get people on your website. Customers are more likely to convert and buy from businesses with easy-to-use websites that have a lot of information about the company, their products, and how those products can help improve someone's life.
It doesn't matter if your product or service is flashy or new if no one takes notice of it. So use every available outlet like PPC, social media marketing, online advertising, email campaigns, and content marketing to drive people to relevant pages on your website. They'll be more willing to learn about who you are and what you do instead of clicking off somewhere else.
A good lead management system will help ensure that customers are guided through an effective design and layout that ties in with your core marketing messages.
6) Focus on satisfying leads
Marketing should be about meeting people where they're at and communicating with them when they're most likely to be receptive to what you have to say. The more personalized marketing is for each individual, the better.
If someone asks you for something, it's probably because they need it. So when you contact that person again, tell them what they asked for specifically.
Sometimes leads want to shop around before deciding where to buy from just because they like the personal attention and don't like feeling rushed. So if someone isn't ready to commit yet, let them know how much time they have until they'll need to decide or else find another lead.
7) Keep track of everything with good tracking methods
Using the right kind of software for marketing and sales can make it easier to keep track of leads and automatically follow up with people when they get close to buying something.
Once someone decides they want to buy something, a lead management system makes sure that new contacts and those who need more attention get routed accordingly so that everyone gets helped at the right time without having to worry about any lost opportunities along the way.
This allows companies to maximize return on investment by always knowing what needs to be done next and where leads are in the whole sales funnel so that they're never out of sight or mind, especially when a sale has been made.
Good lead management systems will also help companies keep track of each contact's data, such as their purchase history, what pages on the website they've visited, how many times customers have been contacted before, and any other relevant information so that everyone involved is always up to speed about what's going on.
Keep in mind that not all leads are created equal, so make sure you have a system in place to prioritize and follow up on the right ones first!
Common mistakes people make when setting up their systems
Here are the most common mistakes that happen when people try to manage their own lead management systems.
* Using a system that doesn't have the right kinds of customization settings.
It's not good enough to just send people into a generic sales funnel without being able to lay out specific details.
Someone has to be in charge of shaping that experience and creating a more personalized one for each person, or else a lot can get lost in translation along the way, and no one will know what's going on.
* Only using one system to handle both fields of marketing and sales.
Having separate systems for these two functions means neither side will have to worry about getting too invested in their procedures because someone else already handles everything.
Plus, it makes it easier to track each lead because you don't have them bouncing back and forth between different people who only care about certain parts of the sales cycle instead of the whole thing from beginning to end.
* Not having a way to track important information about each contact
This leaves leads feeling neglected and forgotten about by their point of contact or even the whole company because no one knows what's going on with them until it's too late to make things better.
With all this in mind, effective lead management systems are much more than keeping lists of contacts who need attention; they're about tracking everything so that everyone is always aware of what needs to be done next and who needs more work.
Marketers need to know what steps need to be taken next to help a lead come closer to purchasing so that they're always one step ahead of everyone else trying to contact the same person.
This keeps the sales cycle moving along smoothly by letting people know when they need to pay more attention than usual so that everything stays on track without any missed opportunities along the way.
The best systems make it easier to keep track of important customer data as well, like purchase history, website browsing habits, and the number of times they've been contacted so that everyone involved knows exactly who needs more attention and where everyone is in the sales funnel at all times.
While it's easy for people to ignore these things when there are dozens of other tasks that need to be done, this leads to missed opportunities by letting contacts slip away without anyone noticing because no one knew what was going on with them until it was too late.
The best lead management systems automatically prioritize which customers are ready to buy now and which ones need more time and attention before they feel comfortable making a purchase.
The most important thing to remember is that everyone is different, and your marketing needs to adapt accordingly. If someone keeps asking for an upgraded version of something you're selling, let them know what's different about it so that they can decide if it's worth buying or not.
Hopefully, this article gave you the tools and knowledge necessary to start planning out your very own system for efficient lead management! Best of luck as you grow out your business!