Before we start talking about what lead management is, we should set the foundations and talk about leads themselves and what they are. A sales lead is simply a person or a business that might become our client. This term also refers to the data that identifies a specific entity as a potential buyer of products or a service user.
One of the ways businesses gain access to sales leads is through advertising, mailings, third-party tools, trade shows, and other marketing methods. A sales lead isn’t automatically a sales prospect as there is further examining needed to differentiate if we have a good lead.
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What is lead management?
Lead management is an established process of acquiring and managing leads from the point they become our leads until they purchase a product or service. This process requires a lot more involvement from the business than usual advertising. The most notable lead management applications can usually be found in the e-commerce sphere, where specific stores generate and garner individual customer relationships.
Once we have our leads, it’s in our best interest to streamline the process of converting them to customers. That is why most lead management processes look like a pipeline or a funnel. This funnel represents the journey and the steps our lead will take until they become a customer. Giving leads the necessary information needed to easily transverse this process funnel is the primary objective of lead management.
As with every streamlined process, if a part of our business or marketing organization falls out of line, our leads won’t be properly guided. Imagine if you, by accident, sent the same emails to developing leads. In most cases, this will outright end their desire to become a customer, even if the conversation so far was excellent. This is why lead management is so important for online businesses.
Any errors can cost you valuable customers, and no business wants that. Additionally, a functional lead management tool will significantly reduce the needed manual work for an online business and will also improve customer experience.
How to master lead management?
Now that you’re comfortable with the definitions of leads and lead management let’s see how we can properly implement the process of lead transition. As mentioned earlier, there are tens and hundreds of tools whose main purpose is exactly that – lead management. Now we will present to you one of such tools – Phonexa’s LMS Sync.
LMS Sync prizes itself as being a simple solution to a complicated issue – how to successfully manage your leads without burdening your marketing department with unnecessary and bloated software. LMS Sync is one of the best lead management systems designed with the intent to step up your lead management, distribution, and analytics.
Let’s look at some of its features to see why this is such a valuable tool for any serious online business.
The job of analytics is to take raw data from your campaigns and other advertising methods and give sense to that data. Using various optimization tools, you will be presented with opportunities for your business expansion and other ways to increase your revenue. You will be able to compare various reports to identify trends, using an advanced filtering system to look into specific categories of LMS leads and visualize your future growth in waves.
This is specific feature measures the life cycle and the quality of your leads. This is another surefire way of increasing your revenue opportunities. One of the best parts of this tool is the performance summary which allows you to see the origin point of your leads. You will clearly see the traffic flow to and from your website. This can give you a great image of what kind of audience is being affected by your campaign, as well as how many of your leads are duplicates.
You can also see what percentage of your leads were sold. All of this and more can be viewed in a customizable dashboard that gives you a window into the key performance metrics and indicators relevant to your business.
On the dashboard, you can see your top publishers as well as top publisher sources and the total amount earned per buyer. Lead tracking systems allow you to focus on specific data sets or track individual client journeys using Lead Details. Determine where you got each lead, when you got it and whose buyer it corresponded to.
You can utilize automation to establish unique configurations to ensure that your leads are distributed based on your exact specifications. Using a ping tree service to automate lead distribution reduces errors and speeds up the process. You can construct your own unique form or choose from a variety of online form themes. To construct your ideal lead funnel, fine-tune your forms and adjust your lead delivery platform.
To keep your lead distribution process running smoothly, only take in and deliver leads that meet your criteria. Filters can be tightened to protect high-quality traffic, while modifications to boost lead volume can be made.
Using ping tree technology, your organization may send leads to a network of buyers while setting your own price points. Add rejected organic leads to your ping tree lead-producing channel to determine how much they’re worth and who could be interested in buying them.
With ping tree technology, you have more alternatives when it comes to the final destination for your leads because you can choose your own price. Traditional barriers can be removed with the help of technology, resulting in a more efficient lead distribution process.
Ping tree technology allows you access to a broader pool of clients if you wish to sell your organic leads, making the market more competitive. Connect with more people who are interested in your leads to increase your chances of selling them.
The purchase process is more controlled by lead buyers. Buyers can be more selective with leads now that there are more providers to choose from, and they can pay based on the value of the lead to their company. Consumers can determine the amount they are willing to pay for leads with Ping Tree Service. This allows them to optimize the cost-per-acquisition for each lead.
Consumers want to be able to quickly and easily connect with the product or service they seek. When leads are disseminated through a ping tree, consumers are matched to more service providers in real-time. Response times are reduced when companies use ping tree software to connect customers and services. By pinging multiple businesses at once, users of the ping tree can quickly match clients to the best available service.
This is a very advanced set of tools, and you won’t be just getting LMS Tracking & Distribution with the package, but a whole array of tools designed to make marketing easier. There are three different price points, Lite, Premium, and Enterprise. Lite and Premium are $100 and $500 monthly, respectively, while the Enterprise Suite, due to its difference in support, requires direct contact with the sales team to determine the right price and the suitable feature set for you.
As you could have understood by now, lead management is an important aspect of any online business that wants to prosper and grow in the current market setting. Using lead management software will allow you to focus your efforts on directly growing your business and providing your new customers with good deals on items and services.