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From intent to purchase, a typical B2B sales cycle can go on for weeks or months.
Walking the sale process alone is overwhelming and time-consuming.
What is Lead Management?
So, the definition of a lead can vary from business to business.
However, theres a fine line between them.
Lead management is pre-sales.
Its an ongoing process to keep customers engaged and heard as long as they are in business with you.
Lets understand the lead management process stage-by-stage.
What Is Lead Management Process?
The lead management process has five stages: Capture, Track, Qualify, Distribute, and Nurture.
Lead Capture
Lead capturing involves collecting data about potential customers interested in your product or service.
So, any actions or events that fit your business criteria for a lead can blend into this stage.
Tip
Effective lead capture strategies involve offering value in exchange for the leads information, creating a win-win situation.
I researched some B2B case studies, and heres what I found:
2.
Lead Tracking
Lead tracking involves monitoring lead behavior, preferences, and actions throughout the buying process.
For instance, knowing when a lead engages with certain content allows you to follow up with personalized messaging.
Manually, doing these might take a decade.
And so, many tools help me track leads without lifting my fingers.
Once you know a prospects journey, its time to qualify and score them.
Lead Qualification
In this stage, you determine whether a lead is a good fit for your business.
Know The Term
MQLs require some pampering from your marketing team before they are ready to purchase.
SQLs have already interacted with your brand on multiple occasions and are ready to make a purchase.
Higher scores indicate better fit and quality.
Lead Distribution
Once youve got a list of qualified leads, you distribute them to appropriate sales reps. For example, one team can specialize in small to mid-sized companies, while another works with large enterprises.
Similarly, you’re able to distribute leads based on regional preference and team availability.
Lead Nurturing
Lead nurturing is a well-thought-out process of establishing and building meaningful relationships with prospects.
Put simply, lead nurturing is when your Sales teams skills are tested.
Its a direct and professional way to build strong 1:1 connections with your audience.
An average B2B buyer consumes at least 13 content pieces[7]before purchasing.
90% avoid cold calls.
The reason is simple: These content types offer value and foster connection.
They tell a story, evoke emotion, and present a face to which the audience can relate.
75% of B2B buyers[10]use social media to assist in their purchasing decisions.
Being there when they are searching for your product or competitors can be all the luck you need.
But with so many social networks, which one should you focus on most?
Well, over 80% of B2B leads[11]on social media originate from LinkedIn.
What are the Benefits of Lead Management?
Below, I have shared a few benefits of lead management.
What are Some of the Popular Lead Management Software?
Here are the popular lead management software.
HubSpots lead management features include:
What do I like about HubSpot?
Its free for up to two users, making it an excellent choice for freelancers and solopreneurs.
Zoho Lead Management
Zohois AI-powered lead management software.
With Zoho CRMs lead management, you’re able to:
What do I like about Zoho CRM?
It is accessible on mobile.
Zoho offers a dedicated mobile app that allows you and your team to manage leads while on the fly.
Pipedrive
Pipedrivessales lead management software helps 100k+ companies improve sales momentum and boost conversion rates.
Key features include:
What do I like about Pipedrive?
Pipedrive has a built-in lead database, so its likely easy to find information about prospects.
It also offers web forms and chatbots for efficient lead capturing.
However, what appeals to me most is Pipedrives customizable interface.
I couldnt feel the vibe with HubSpot and Zoho.
Poor Lead Quality
Poor lead quality is the top complaint among sales teams handling inbound leads.
Ineffective Lead Scoring
Many businesses fail to implement clear and systematic lead-scoring systems.
This results in slower growth, missed opportunities, and wasted resources on unqualified prospects.
Inefficient Lead Nurturing
Lead nurturing is driven by patience.
It can last from a few days to months.
However, most businesses rush through it to meet sales targets and fall into the trap.
Data Overload
This is again the quantity vs quality debate.
The vast amount of data generated from various marketing channels poses a challenge in lead management.
Organizations often struggle to manage this data effectively, leading to inaccuracies and difficulties deriving actionable insights.
Difficulty Measuring ROI
Measuring the ROI from lead management efforts is not easy.
Implementing AI-driven Tools for Lead Scoring and Analytics
Lead scoring and analytics are based on a number of factors.
What kinds of behaviors do your leads exhibit?
Are they reading your content?
Are they responding to email or Short Message Service (SMS) messages?
Are they coming back to your website?
If theyre on your website, what are they looking at?
It would take ages to compile this information manually.
Fortunately, a lead management solution can automatically gather the data on all of your leads.
For example,HubSpotandZohoare best for tracking and scoring leads based on your custom criteria.
HubSpot even offers AI-powered lead scoring and reporting tools.
Heres what it’s possible for you to do:
3.
Regularly Auditing and Cleaning Lead Databases.
Suppose Ive generated 1000+ leads through paid campaigns and other marketing channels.
What should be the percentage of qualified leads?
This suggests that a substantial number of leads are filtered out before they can be considered viable opportunities.
I find Pipedrives Lead Inbox function very effective for this process.
It allows me to store incoming leads in the Leads Inbox until Im ready to qualify them.
Instead, you could invest in powerful lead management software and use the spare time to build strategies.
Now that you have understood the lead management concept, lets explore the guides on sales management.
Best Sales Funnel Software for Your Business
Best Sales Intelligence Software
Best Sales Prospecting Tools
