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For many businesses, the generation and tracking of leads comprise the very lifeblood of their success. In marketing, any consumer who expresses interest in a product or service becomes a lead—and thus a valuable entity which needs to be effectively tracked and managed in the hope that the lead will convert to a sale.
While some businesses may be smaller and monitor only a few leads, others operate marketing campaigns on a much larger scale. These companies can generate large volumes of leads as a result of their marketing efforts. For these businesses, it is essential that they have a system to monitor all their leads, so they do not miss out on any opportunities. They are in the best position to benefit from using lead tracking and lead management software.
What Is Lead Tracking?
Lead tracking is the process of getting insight into the lifecycle of a lead. If you are working in lead generation, it will tell you where a lead came from and how that lead first interacted with your business.
Lead tracking will link leads with your various marketing campaigns, and in doing so help you better understand the performance of all your marketing efforts. Marketers will be able to make adjustments and modify campaigns thanks to the valuable attribution data that is provided through lead tracking.
Additionally, when a lead is passed along to a sales team for conversion, it comes with a wealth of information. Sales professionals can get a glimpse into the path that a customer took to get to them. They’ll know what marketing materials their leads interacted with, whether or not they had spoken to the sales team yet, and other valuable demographic information.
What Is Lead Management Software?
If your business is going to employ lead tracking, then you’ll likely want to gather data and manage your leads with lead management software. Functioning as a comprehensive platform for tracking and distributing leads, lead management software is an essential component of any lead generator’s workflow.
Lead management software gives you and your sales team the tools to aggressively track and keep tabs on your leads so you can keep them moving through your conversion funnel.
Lead distribution is an integral part of lead management because deciding where your leads go can have a major impact on your eventual return on investment (ROI). Sending a lead to your sales team too soon can be a waste of time while waiting too long to convert a lead could cause you to miss out on your conversion opportunity.
Also Read: How to Increase ROI with Marketing Analytics
Lead management software acts both as an organizational tool and an optimized system for the fast and efficient movement of leads through the conversion funnel.
Lead tracking helps you stay organized and get full insights into your lead lifecycle. Lead management software provides detailed reports that help you track all aspects of your leads. Leads’ click patterns, their engagement behavior, level of interest, sales status, and quality are reported in real-time to help you optimize your customer journey for higher conversions.
If leads are the lifeblood of your business, then lead tracking and lead management software is vital to maintaining a healthy flow of leads and a bright outlook for the future.