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For small business owners to adjust to changing times, they need to embrace incremental changes that can set them apart from the competition. While it’s no secret that lead management software is something that big business has been investing in and benefitting from for years, it’s just as important for small business owners to know the benefits that many lead management systems offer.
Whether you are a solo entrepreneur or a small shop that sells a single product, making adaptations that drive more revenue to your business is a worthwhile priority for most. We’ve outlined several ways in which integrating a lead management software can reap great rewards for small businesses.
How Lead Management Software Works For Small Business
Marketing a business, no matter the size, generally begins with a sales funnel and then a process that guides a buyer to a final purchase. Lead management is a strategy that guides that process along. A lead management software allows businesses and customers to get from point A to point B, or in this case point-of-purchase, as efficiently and effectively as possible.
1. Better Qualified Leads
Bringing in high-quality leads is often what keeps any small business moving forward and hitting goals. Being able to identify which of your leads are worth following up with, and those that are not yet ready to buy is critical to maintaining an efficient sales process. Lead management software allows small businesses to uncover a lead’s level of interest based on their engagement and interactions with the brand both on and offline.
2. Understanding Your Marketing ROI
Not only does this advanced understanding of your engaged audience make your business processes more efficient, but it also makes it possible for your marketing team to pivot their strategy to attract more business that is more likely to convert to a sale.
Lead management software that provides features like URL tracking and data analysis is valuable for small businesses to make insight-driven decisions regarding their marketing. These insights give marketers a high-level view of which of their efforts are most successful and will deliver the most ROI.
3. Improving Customer Support
Going the extra mile to satisfy the needs of the customer and making sure your customer support services are extraordinary can make or break a small business. Lead generation software makes it possible to make the customer a priority through the personal data that is collected and analyzed through the platform.
Insights like online history, buying behaviors, past interactions, and even customer demographics and location give your customer support team the tools they need to best interact with clients.
4. Maximizing the Work Day
A productive and time-sensitive workflow is essential for any small business to thrive. Often wearing many hats in the workplace, small business owners know that their time is a valuable asset to the success of the company. Cutting down on extra time spent on tasks that can be automated means that you and your team can invest that extra time in existing customers or closing a deal. Lead generation software improves the workflow particularly of small businesses that need the extra hand in tracking and managing their inbound business.
5. Knowing Your Audience and Personalize Your Outreach
Nurturing leads and approaching existing customers with personalized messaging and outreach ensures an increase in revenue and retention. Using lead generation software allows you to better understand your audience which leads to a collaborative discussion between you and your target customers.
Understanding and personalizing your outreach also induces more opportunity for creative content – the more “types” of leads that you have, the more you can create refined content that is made to attract each version of your customer base. Some small businesses approach this based on demographics and others on past interactions, but either way, this approach in using lead generation software will provide something for each person in your customer base.
6. Taking a Proactive Approach to Marketing
From social media management to traditional approaches to marketing like phone calls and offline advertising, the lead generation and management processes never stop. However, lead management software benefits small businesses by allowing them to take a proactive approach to marketing through predictive analytics and customer insights.
Additionally, many lead generation softwares are able to integrate with your CRM and also support web-to-lead forms or email integrations. Fully integrating your business processes help to streamline the lead funnel and automate data collection.
7. Tapping Into Unused Potential
Unfortunately for most businesses, not every lead will turn into a sale. For small businesses, this can be a tricky reality to accept, for the time that it takes to qualify a lead that doesn’t convert can have a large effect on revenue. Oftentimes, leads that were declined or didn’t convert to a customer are forgotten and the time spent qualifying them is wasted.
Fortunately, by using a lead management software, small businesses can find a new value in discarded leads. By using the distribution side of lead management software, you have access to an external marketplace where you can reapproach or distribute your unconverted leads to third party buyers that will ultimately lead to revenue growth for your business.