Leads are what drive a business and if you have problems generating them or even managing them, don’t be surprised if your business shuts down eventually. Lead management is a very important process. In fact, it’s just as important as generating them. Poor lead management is as good as not having any.
So, how does a business make sure their existing leads provide the value they are looking for? Well, there’s only one way and it’s through the structured and systematic application of best practices. By applying these best practices, you can nurture your leads and turn them into proper opportunities that sales can leverage towards the end of the cycle.
Here are some of the best practices that we’ve been talking about.
Identify the Ideal Lead
One of the first things to do with regard to lead management is to make sure you know who your ideal leads are. This involves figuring out their interest, pain points, preferred communication methods/channels, and their exact position with regards to the buying process.
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By figuring out all of that, it becomes easier to determine if the concerned lead is ready to be promoted to the sales side of things. Also, make sure you pass on your insights on the ideal lead to your marketing and sales team.
Attract Your Leads
Once you know who your perfect leads, start attracting them with the kind of content they would engage with. For instance, a recent study found that blogging was able to generate around 67% more leads. Of course, you might find that there are other marketing tactics that work better for you. But, the point here is that by providing your customers with what they want, you are creating opportunities to influence their decisions. You are building a relationship where you now have the power to persuade them while also understanding them on a deeper level.
So, figure out your leads and divide them further and target each division with appropriate messages
Position Marketing and Sales Teams Accordingly
The marketing and sales teams are your two most valuable entities. They need to be aware of strategy and tactic in place. So, make sure that there is a kind of mutual agreement between them that allows for the efficient working of a lead.
For example, you can establish a centralized lead database that both teams have immediate access to. This will allow them to gain insights that they can exploit in a coordinated fashion.
Nurture Your Leads
Nurturing your leads involves establishing relationships with key prospects and retaining the lesser qualified ones for eventual opportunities. Ironically, most businesses tend to forget this practice completely. Don’t make this mistake.
The other thing to remember is that lead nurturing must continue until you’re sure that they are perfect leads. Never forward a lead to sales if it doesn’t achieve the minimum lead-score. Keep nurturing them with offers and benefits at every step of the funnel.
Automation is a necessity for businesses that are on the path to expansion. However, if you’re a small business, you might face the dilemma of having to choose between changing an ineffective process and automating. We suggest you choose the latter option.
In this case, it is far more effective to simply reboot your approach with the proper tools.
Filter Your Data
Make sure you only have high-quality to rely upon. Do not waste time and risk failure by holding on to data that is not relevant.
Look for Feedback
Continue gaining insights even after the closure of a deal by establishing a feedback system/mechanism. The feedback that you collect will help you streamline the lead management process even further.