7 Benefits of a Lead Management System
Bees. They can be a nuisance at a picnic or a backyard barbecue, but did you know they are a critical part of the Earth’s ecological structure? The hardworking insects pollinate one-sixth of flowering plants around the world—without bees, it is possible that entire ecosystems could collapse. As a result, recently bees have been viewed as a precious resource that must be carefully supervised.
Bees can teach us a lesson about marketing leads. Marketers know that leads are essential for any business to grow and thrive. According to HubSpot, 65% of businesses say generating traffic leads is their biggest marketing challenge. Since leads are so important to the health of your business and generating leads can be demanding, it makes sense to put effort into effectively managing the leads you already have. For businesses seeking to make the most out of valuable leads, a Lead Management System is a must.
What is Lead Management?
When a prospect shares information that is linked to taking advantage of a product or service, that prospect becomes a lead. Some leads may convert to customers quickly, others may take weeks or months, and some leads never convert. Effective lead management is the successful tracking of leads from the initial interaction to a purchase and beyond.
Benefit #1: Efficient Lead Tracking
Keeping tabs on your leads can be a struggle in and of itself. Few things are as frustrating as losing a quality lead in the shuffle. It can also be challenging to differentiate between leads that are more or less likely to convert. In this instance, lead tracking from a Lead Management System becomes tremendously valuable. By closely tracking your leads, you can optimize the experience for those leads that are closer to conversion—making a better use of your time and money.
Benefit #2: Impactful Lead Nurturing
Nurturing leads that are likely to convert is a significant process that becomes much easier with a Lead Management System. Leads that are nurtured by email marketing or other methods are more likely to convert and may end up purchasing more than leads that are not nurtured.
Benefit #3: Better Filter Your Leads
It can be time-consuming to weigh leads against one another, trying to determine which may be more likely to convert. A Lead Management System puts many tools at your disposal to optimize your lead filtration. Create a lead scoring system and set up filters and restrictions so that the right leads are sufficiently targeted.
Benefit #4: Be More Productive with Automation
A sophisticated Lead Management System allows business the opportunity to automate additional workflows: such as what to do with lesser quality leads. While these leads may be less likely to convert, they still have value. Utilizing lead distribution, businesses can organize leads so that some can be re-sold to eager buyers.
Benefit #5: Sharper Insights
Keeping a close eye on high-quality leads is a must: a Lead Management System allows you to do just that with advanced tracking capabilities. Follow along on the customer journey and get an unprecedented perspective into the decision making process. Not only will this data help you convert the leads you’re tracking, but it will also provide a roadmap for how to create a better customer journey for future prospects.
Benefit #6: Real-Time Reporting
When leads are coming in quickly during a campaign, knowing what is driving your leads is essential to getting the most out of your investment. For instant updates, real-time reporting is an invaluable resource that can let you make changes on the fly depending on lead generation analytics. Knowing how various publishers are performing will let you quickly double down on successful channels and scale down less effective components.
Benefit #7: Improve Team Coordination
The right Lead Management System will provide you—and your team—with mountains of data regarding every single campaign. These insights can help your sales and marketing department work harmoniously by learning from the same data sets. This can help increase lead generation and lead conversion by creating a more focused sales funnel. Plus, keeping everyone on the same page will help reduce mistakes or miscommunication.
All these benefits will drive your business towards a more efficient process of lead generation, tracking, and conversion. The right Lead Management System will improve your ROI and keep your business buzzing along like bees in a hive.
Phonexa’s all-in-one marketing platform includes LMS SYNC, a powerful Lead Management System, along with platforms for call tracking, email marketing, and integrated accounting.