The term Lead Management covers the range of company processes dedicated to transforming leads generated by the marketing and communications department into business opportunities managed by the sales team. It is the series of methods, systems and standard procedures for the management of new contacts transformed into potential clients.
There are many strategies put into place to generate and manage these new leads which vary based on the department that creates them. However they’re all customer centric and form the basis for the majority of modern Customer Relationship Management strategies.
The most common mistake made by companies is the amount of time they allow to pass between generating new leads and contacting them for follow-up. Up to 80% of marketing efforts are wasted during the next step in the sales process. This is because companies and organizations want to attract new clients but don’t have a sufficiently effective method for the automation and control of lead management processes using CRM or BPM. The failure to profile leads, assign them to the most suitable sales team member or simply taking too much time to complete tasks are all significant factors in losing the interest of a contact which has just been generated.
To put a stop to this waste Lead Management processes need to be automated and controlled thoroughly.
PAT’s range of advanced systems provides the ability to apply decisional rules and have greater control over processes, both key factors in reducing contact response times. The lower the response time, the greater the chance of converting the lead into a client.
The implementation of an advanced CRM solution providing automation of internal processes for simplified lead management and which guarantees multi-channel contact management could be the first step towards adopting a more streamlined and effective company strategy. Companies should also consider performing advanced analysis of the data so as to have a full overview of the quality of the contacts as well as the ability to identify areas for improvement that can be enacted in the business.