10 Benefits of Lead Management Software To Grow Your Business

A steady stream of high-intent leads – web and call – is the backbone of your online business, whether B2B or B2C. However, you can only be effective in generating and converting leads at scale if you have special lead management software to back up your ambitions.

We’ve already covered the basics of lead management, but I think it’s time to add to that. I have a few more things to say – and I’ve grown confident in just how good lead management software is for bigger businesses –  so I’m going to share some insight with you today.

For example, Phonexa’s LMS Sync and Call Logic – comprehensive products for tracking, distributing and analyzing web and call leads – have proven extremely effective in driving purchase-ready consumers to businesses, with some hard evidence on the table:

 

But I might be getting a bit ahead of it.

First, let’s talk about some potential use cases of lead management software for your business, and then I’m going to explain at great lengths why Phonexa should become your ultimate solution to lead management.

Why Lead Management Software Is a Must for Your Business

Manual customer processing is a thing of the past.

Today, online lead management software does all the routine work:

• Tracking web and call leads
• Distributing them to the product or sales rep they seek
• Analyzing data and user behavioral patterns

You must have software for lead management to stand a chance in today’s over-competitive online business. Lead management automation saves time, increases customer engagement, allows timely communication, and enables up-selling, among other benefits.

Walking Through the Lead Management Process

Lead management isn’t rocket science – it encompasses quite understandable steps of lead capturing, tracking, distribution, and conversion.

Let me walk you through it.

Step 1. Lead Capturing and Tracking

Whether your leads come from Google, social media, or offline marketing, you need to know how their journey evolved across touchpoints. A robust lead tracking system can unlock these valuable details for your regular and affiliate marketing campaigns.

For example, Phonexa’s B2B lead management software collects actionable data on leads and sales prospects in real-time as they interact with your brand and then, based on these insights, paves the best journey for each consumer.

 
LMS Sync has the following key components:

Dashboard	Phonexa dashboard gives an overhead view of all the lead management KPIs so you can see how your lead generation campaigns are performing. Likewise, you can set the dashboard to only show relevant information or measure results using a line item graph that makes for an easy visual comparison.
Performance Summary	The Performance Summary is a hub detailing where all lead traffic is coming from and where it’s going. It gives you the ability to get deeper insights into publishers and buyers. You can view lead data in a number of ways with grouping options for date, hour, or source. Once grouped, you can filter summaries on each page based on date range, publisher source, etc.
Lead Details	The Lead Details section gives you a deeper look into each lead so you can pinpoint the most relevant data sets and track customer journeys. You can get a line-by-line description of each lead, including whether a particular lead was sold or rejected, the time stamp, where the lead came from, etc.
Analytics and Optimization	You can use LMS Sync’s analytics to get a competitive edge and a better return on investment, as well as discover new revenue sources.

Step 2. Lead Distribution

The ever-decreasing human attention span leaves around eight seconds to win your lead’s heart, making manual distribution laughable (you simply have no time, duh). Conversely, an automated lead distribution system can qualify your leads by chosen parameters and direct them where they belong.

Here’s how a lead distribution works:

• First, leads are qualified: Web and call leads must be qualified so you can understand who your leads are, how much they cost, and where they need to go.
• Second, leads are distributed: To distribute leads correctly, you can use criteria like location, price, performance, etc. Distribution criteria can overlap or be mutually exclusive.

When a sales rep picks up the phone, they already know who’s calling, the insights they otherwise would have no access to.

Step 3. Lead Conversion and Analytics

The sales cycle may include intermediate touchpoints – for example, an interactive voice response (IVR) system – but it inevitably ends with a relevant product or sales representative.

Finally, whether converted or not, the customer is processed by lead analytics software, which interprets data collected throughout the customer journey into actionable insights.

Phonexa’s lead analytics software comprises:

• Filter Analyzer to unlock zones of hidden profits.
• Predictive Modeling to understand your expansion potential
• Comparison and traffic flow reports to reveal trends and blind spots

Schedule a free demo to learn how Phonexa can bolster your lead management.

Data Collected Throughout the Customer Journey

When over 75% of Internet users are proactively looking for ways to protect their online privacy, while-label prospect tracking software can guarantee that you are on the legal side of the fence when it comes to customer data collection.

Here’s home of the data you can collect with lead management software:

• Demographics: age, gender, education, employment, marital status, etc.
• Psychographics: motivation, goals, interests, desires, fears, etc.
• Engagement: how leads interact with your brand at every touchpoint.
• Quality: whether a lead is exclusive, shared, duplicated, fraudulent, etc.
• IVR and call data: timestamp, duration, and result of a call, new or recurrent caller, etc.

10 Key Benefits of a Lead Management System

The benefits of lead management are immense, from targeting the right leads to ensuring the optimal customer journey to increasing your sales potential to retaining customers. You can’t beat the competition without effective lead management, nor can you manage sales leads property without a robust lead management system.

#1. Granular Segmentation

Did you know that 59% of customers would choose tailor-made experiences over a one-size-fits-all approach?

Segmentation is the backbone of lead management. Remove segmentation from the equation, and you won’t know which ads to display and which leads to send to which sales reps.

via GIPHY

#2. Precise Lead Routing

As helpful as advanced IVR and chatbots can be, they can only work well if they process the right leads. For that, your lead tracking software must collect data – the more, the better – and analyze it to predict where each customer wants to go.

Take, for example, an IVR system. Integrated with call tracking, it can deliver valuable information on the caller, such as location, demographics, whether the call is new or repeated, and what ads triggered the call (web, mobile, TV, or print). This helps to qualify the caller and direct them to the right product, department, agent, or advertiser.

#3. Advanced Sales Lead Management

Making data-driven decisions is imperative for long-term success. This is what high-quality lead management software does. It minimizes the human factor in your sales lead management process, leaving you with nothing but sheer numbers and sometimes also an objective interpretation of those numbers.

#4. Automation & Scalability

Automated lead management, from tracking to an automated lead follow-up system, leads to an increase in sales productivity by 14.5%, a reduction in marketing overhead by 12.2%, and a 300% increase in the number of leads passed to sales agents.

More and more companies are taking advantage of lead management software as they grow, but the overall share of companies relying on automation is surprisingly low. Only 25% of companies use marketing automation expensively, 34% use it limitedly, 28% are planning to use it, and 13% have no such plans.

“The whole point of using a system like Phonexa is to ensure that you’re utilizing automation in the way it’s supposed to be used, streamlining your business and your marketing operations.” – David Pickard, CEO at Phonexa

#5. Enhanced Customer Journey

Happy customers are easy to convert, but it’s not easy to make customers happy. You must smoothen every touchpoint throughout your sales cycle, from discovery to acquisition to conversion to retention and advocacy.

Take, for example, email leads. Not only can advanced lead management software distinguish them from other customers, but it can also measure their engagement, including how they react to innovations. Should you, for instance, introduce dynamic emails – or any other significant change or update – you can assess its impact on your leads.

#6. Accurate Budget Allocation

Knowing the potential of your traffic sources, how your users behave, and how many of them are likely to convert enables wiser resource allocation. You can double down on the most effective campaigns, eliminate unprofitable ones, reveal financial opportunities, and more, all to get a higher return on every dollar spent on marketing.

With tools like Predictive Modeling, you can even simulate your campaigns:

By using predictive analytics and adjusting the times of your campaigns, what states you’d like to run in, or other targeting data, you’re able to see how these modifications would affect your outcomes without risking your marketing budget. In this way, predictive analytics removes the idea of “trial and error” from your marketing strategy.

#7. Informed Sales Agents

In-depth segmentation and live customer data transfer improve your sales lead management by sending your leads to the most suitable sales agents and equipping the latter with the data they need to convert customers.

Likewise, your sales lead management software can objectively estimate the performance of each of your agents to adjust your lead distribution criteria, provide incentives to the best sales reps, understand why some representatives underperform, and more.

“Marketing is being judged by opportunities. We report on high-intent leads and low-intent leads, but we’ve broken them out into categories so we have high-intent hand-raisers and those who are more sales-ready based on the forms that they fill, and then the leads that are coming in from offers or content or different pathways that demonstrate low intent.  And we figured out how to automate the process – for example, giving them more content that they like – so the sales team can focus on the high intent hand raisers. Then we are tracking the volume on what turns into an opportunity, what channels are working for us, what influenced those steps and being diligent in reviewing that with sales on a monthly basis.” – Talar Malakian, CMO at Phonexa

#8. Staying Compliant with the Industry’s Regulations

With the FCC update hitting online marketing and sales, anyone who generates or buys leads should honor the new customer consent requirements. In practice, this means companies should use FCC-compliant lead generation or lead management software that employs FCC-authorized data collection methods (in fact, getting permission from the user before collecting their data).

The good news is that Phonexa has already developed an FCC-compliant solution called Consent Branches, so you can go for it right now and stay compliant throughout 2025 and beyond.

#9. All-around Sales Cycle Boost

From strangers to leads to sales prospects to customers to brand advocates, effective lead management systems accompany your customers at every touchpoint, moving them down the sales funnel.

Here’s an example of managing leads effectively at every sales cycle stage:

• Discovery: Using leads analytics software, you can understand how many leads were drawn by what ads. Views, clicks, and other engagement parameters objectively show the performance of each of your traffic channels.
• Acquisition: Once your leads are on your website, you can measure their on-site behavior: what they search for, where they look, what they find interesting, and what they cannot find.
• Distribution: Based on the collected data, which ranges from a few basic details, such as location and gender, to the full lowdown on a lead, you can send your customers on a path that must secure a conversion.
• Conversion: Regardless of what you count as conversion – on-site purchase, email subscription, or else – an effective lead management process allows you to have the maximum data to convert the sales prospect. Your sales reps know what they need, your emails are customized, and so on.
• Retention: A lead follow-up system can help you not lose touch with your most loyal audience. Poising your customers for recurring purchases can grow your bottom line exponentially, but you must have an effective follow-up system in place.

Well-managed lead generation appeals to your leads, prospects, and customers at every step of the customer journey, trying to make them happy while collecting essential data for you.

#10. Growth in ROI

Lead nurturing benefits are immense, with the icing on the cake being an increase in your ROI. With the average B2B sales lead costs between $31 and $60, automated lead management can cut your operational costs to the ground, increasing your profit margins by times.

Lead Management Integrations

A key determination of whether lead management software is useful to a business is how well the software integrates with other solutions and parts of a company’s tech stack. There are three significant categories for these types of integrations: additional marketing channels, CRMs, and data enhancement solutions.

Marketing Channels	With incredible reach and capabilities, Google AdWords and Google Analytics are critical assets for any marketer. Phonexa’s lead management software offers integrations with these Google platforms, making it easy to share data and access critical Google Analytics reports.
CRMs	Businesses using lead management are smart to seek out integrations that can work with the CRM (Customer Relationship Management) software they may also be using. In order to provide users with the tools for a truly integrated marketing strategy, Phonexa lead management software integrates with widely used CRMs like Salesforce and Hubspot. By integrating Phonexa lead management software with CRMs, users are able to build a bridge between their lead management efforts and any nurturing strategies or customer retention.
Data Enhancement	Compliance and lead certification are a significant part of any lead management strategy. It’s important, then, that marketers are able to integrate tools that allow them to monitor data and protect against fraud. Phonexa users are able to integrate their lead management software with established providers like TrustedForm from Active Prospect. Being able to work with an impartial issuing authority is important for flagging sensitive data and providing peace of mind.

Lead Management Software vs. CRM Software

CRM and lead management software are used in similar ways, but there are important differences. Most notably, a lead management system is most important in facilitating the customer journey from prospect to lead to customer. A CRM system also helps with that journey, but it goes more towards customer retention, cross-selling, and customer service.

A simple way to remember is that any business whose primary focus is generating leads will get the most out of lead management software, while CRM software might be required to maintain a long-term relationship with already acquired customers.

Supercharge Your Business with Phonexa, an Eight-in-One Lead Management Software Suite

The market is abundant with lead management and CRM systems, but none of those solutions is as comprehensive as Phonexa. With Phonexa, you can easily manage all your campaigns from one dashboard without having to juggle between tools and reports.

Here are the eight proprietary performance marketing software products with Phonexa:

Book a free demo to explore Phonexa’s lead management software suite.

Frequently Asked Questions

What are leads in marketing?

A lead is anyone who has interacted with your brand or has the potential to become your customer. Once leads are qualified by specific criteria – location, interest, budget, gender, age, history of purchases, etc. – and move into the sales funnel, they become your sales prospects.

What is lead management software?

Lead management software is usually a set of tools used to improve lead management for a company, including tracking, distributing, converting, and retaining leads. Lead management system features like real-time consumer journey tracking can unlock otherwise unavailable insights into what potential customers need and when.

What are the most important lead management software features?

Among the most important lead management features are real-time lead management reports because they make it possible to analyze the lead even before contacting them. With real-time consumer insights, you can improve your lead management flow dramatically, addressing the real needs and wants of your customers.

Is a CRM system different from lead management software?

In theory, a CRM system processes customers after conversion, whereas a lead management system processes leads before they convert. These two systems can merge into a single lead management ecosystem accounting for every click and call.

Is there any free lead management software for small businesses?

There is no free lead generation and management software that can cover your B2B lead management process from Z to Z. Free lead management solutions are limited in functionality or time of use, making paid lead processing systems an uncontested choice.