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What is Lead Management – A Complete Guide

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sammy kelvin
What is Lead Management – A Complete Guide

Companies still resort to legacy methods like spreadsheets for tracking and managing leads. However, this is an extremely inefficient process and can impede the conversion of approximately 70% of leads, according to Zoho. A dedicated lead management system is required to apply strategic techniques to gain new leads and ensure maximum leads reach the final conversion stage.

A lead refers to any individual or company that could be interested in your product. This interest is expressed via the sharing of contact details, clicking on a “register now” link, visiting your website, viewing a product video, or any other form of engagement. The process of lead management uses the details provided by a lead to systematically categorize them and plan the action points.

You can then follow up on different leads or retarget them with content, depending on where they stand on the marketing funnel. For example, when a C-level representative in B2B reaches out using your website’s contact form, this can be regarded as a bottom-funnel lead – your sales team can directly reach out to the individual and commence the acquisition of the account. On the other hand, someone who has visited your website more than three times can be considered a top-of-the-funnel lead. You can place ads specifically targeted for this audience to nurture more interest. All of these activities fall within the definition of lead management.

Lead management is, therefore, a broad area, covering nearly every sales technique used to capture and convert leads. While this can be done manually, it is advisable to use a digital platform that plugs into your website on one end and your CRM on the other to create a continuous lifecycle of data. The customer can then be guided across this lifecycle, experiencing a streamlined journey from interest to conversion.

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