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Best Lead Management System for Your Business

Finding the best Lead Management System for your business is now faster and easier! Compare prices, reviews, features, and get free consultation to find the perfect software.

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The lead management system is a crucial business function for all upcoming organizations - it can surely escalate your bottom line results and send profit levels sky high! Sales and lead management software is the buzzword in the business arena, and there are a majority of vendors in the market who will help you get the best software for your company.

What is Lead Management System?

It is an essential part of any organization. Be it small or large business, as it helps to find the people interested in your services. Since customer relationship management and sales management are relevant to lead management, having effective lead generation tool improves the whole process of lead generation, and thus streamline the sales.

Must-have Features in a Lead Management Software

  • A top lead tracking software should be organized in a way that the team working on it, is not distracted and confused. As the lead management tool forms the beginning of the sales cycle, the software should provide as much scope as possible to organize leads, create strategies act on lead generation marketing strategies. Basically, it should be sales centric lead management tool.
  • The software should be designed with filters ranging from users, products, sources, zones, contacts or the combination of any of these features.
  • The filtered information based on various features should be made available to the customer relationship management and sales management as this plays an important role in streamlining the process of a sales cycle in an organization.

Advantages of having a Lead Organization Software

  • It helps to find out the potential leads which are the start of a sales cycle.
  • The software takes care of the follow-up process of publishing E-mails, recorded calls and sales notes to the members of the contact list which gives ample scope for the team to work on other things. It keeps tracking each and every lead related communication.
  • It has all the details related to the contacts, company information and the communication details which make it easy to revive the leads that have lost interest or to start a new process of creating a potential customer.
  • The activities of each member of the team are recorded as the number of leads that have been contacted, the means of contact, and the meetings held etc.
  • It helps the team in knowing when the contacts have opened the E-mails sent by the team and the documents opened. This information can be for follow-up E-mails, calls or personal meetings to convert the lead into a potential customer.
  • The lead management helps in importing the leads through various methods such as new lead entry form, excel spreadsheet or through a web post.
  • The software helps in assigning pre-defined statuses such as 'left message', 'contacted through phone call' etc. which lets the lead managers know the status of the lead and the steps that should be taken by them further.
  • The documents related to the product or service can be generated and delivered to the customer or the team through E-mail etc. along with electronic signature which authenticates the document.
  • The most liked E-mails can be transformed into e-mail templates which can be used by the team to contact the leads.
  • The generation of reports related to the sales, leads and the performance of the team is very much useful in the evaluation of the team and the steps to be taken to improve the situations and the business as well.
  • A good lead management tool can help invest the amount in marketing strategies, especially for the small businesses and business with a limited budget. Instead of just investing without the plan, a plan can be followed based on demographics to find out the leads which can improve the marketing and sales as well.
  • The software can help the sales team develop strategies based on the interests, hobbies etc. of the people in a particular demography and the way the leads should be approached to sell the products or services.
  • Economic feasibility is another feature which the lead tracking software provides to the small as well as medium businesses. By using the software, the business can have lesser number of employees in marketing team when compared to the ones not using the software. The reason being, by following a planned marketing strategy, the enterprise need not disperse the marketing team and they can be carefully managed according to demography, people's interests, hobbies etc.
  • Some software went a step further and allowed the lead management team to interact with leads on social media accounts such as Facebook, twitter etc.
  • The cloud storage facility which is provided by the online lead management tools is a major benefit. It takes off the burden of storing and maintaining the complete data. It makes the process of database management very effective and hassle-free.

Points to keep in mind while purchasing a Lead Management tool

  • The enterprise looking for purchasing a lead management system should check the features such as ease of use and the user interface. If the software is too complex in nature or the interface too difficult to use, then the team may find it tough to use and may take a long time to get efficient with the software.
  • The efficiency of the features such as report generation should be checked well if it takes a long time to perform simple functions, then a lot of time gets wasted.
  • The integration with other software such as the customer relationship management software and sales management software in the pipeline should be good. If the integration is not good, then the passage and usage of data by the teams in the pipeline become very tough which reduces the performance of the business.
  • The businesses should invest some time to find out which features are a priority for their enterprise and should go for that software. The economic feasibility should also be considered before buying the software. Even though some lead management may be extremely good, if the business is a small one or a startup, they should not go for a costly lead management software and should opt for a software which best suit their requirements and budget.
  • A customer buying software for leads management should be aware that the intuitive nature of the team interacting with leads plays an important role along with buying a good system. The way the leads respond to calls, E-mails, the tone of their response, the interest they show all matter and the members of the team should be able to grasp these and take further actions such as following up instead of just following up all the leads which can be a drain on energy.
  • Customer relationship management software or the sales lead tracking software cannot substitute nor do the work of lead management software. This is the point which is to be considered and it is always better to choose an effective lead management for the overall growth of the business.

How to Implement Lead Management System in Your Organization?

A great lead management can revolutionize your company's success story, so let's have a look at how to implement lead management software in your organization -

  • Identify and Understand Your Leads: The first and foremost step to lead generation is understanding who your potential buyers are and what would motivate them towards your product/service offering. You need to dig deep to find out the demographic profile of your prospective customers and determine their purchase behavior to have a clear picture of them.
  • Generate and Collect IntelligenceIt's absolutely essential to develop a genuine and reliable method of collection of lead-related intelligence. Make sure to invest in whitepapers, webinars, and marketing analytics software tools to have solid databases about your leads - that will help you plan your lead generation strategy in the best possible manner.
  • Use Effective Software to Generate Maximum LeadsUtilize lead generation tool to facilitate the effective tracking of sources of lead supply. It identifies marketing campaigns which capture the largest number of leads and which strategies need to be reworked on. Lead generation software contains many tools which manage customer relationships from the point of contact to conversion. So, get good lead management software to gain a larger market base instantly!
  • Nurture LeadsMake sure to engage your leads, have an open two-way communication with them and understand their concerns about becoming loyal adopters of your product/service. Invest time, energy and effort in forming strong bonds with your potential customers so that they convert into lifetime users of your brand.
  • Track Success RateYou need to measure the conversion ratio of successful leads to know exactly how your sales rate is increasing through effective marketing campaigns. Lead generation tool has a number of analytical platforms that can help you measure sales lead tracking performance and track return on investment on lead generation campaigns. This will help your organization implement a seamless lead management software that delivers top-class results and enhances sales figures.

Specific Usage of Lead Follow Up Software

Why is lead management system inevitable for Salespeople?

The most important task of a salesperson is to convert the leads into customers. To perform this task effectively they would require a proper sales lead management. Good lead tracking solution would provide the sales team with important features which are required for sales. This software can provide the team with data like contact details, customer preferences and sometimes even business card. This is basically nothing, but sales lead management. Thus, it makes it almost impossible for a business to provide Salesforce customization without using top quality sales lead tracking software. Though in some instances there are companies which use a CRM with lead tracking and management feature to adhere to the needs of the sales team.

Lead management software for Real Estate

Any product based industry is simply based on three pillars. They are 'Lead Generation', 'Sales Lead Management' and 'Lead conversion'. Lead managing process in real estate is no different. So this makes it important for Real Estate companies to pick the right lead management tool. The second stage becomes very important in this industry. This is because the user would get ample of options in this industry. So it eventually comes down which company has the best follow-up and communications process. This makes it very important for companies in this industry to use the best lead tracking software. A proper lead follow up software would organize the complete process of the lead management system. This means that it would assist in all the work which happens from lead acquisition to lead conversion. Simple lead tracking software like FollowupBoss and Lead Master are specifically designed for the real estate industry. They also provide free trials.

Why do Doctors using lead Management Tool?

Yes, It may sound a bit wired, that "why do doctors need a lead management software? You must have the idea that generally only marketing strategy for doctors would be mouth publicity. But as weird it may sound the doctors are actually using lead tracking software to generate sales and improve their business reach. Generally, the specialized doctors use this software. There is software like Practicesuite which are developed as doctor's lead tracking software.

Lead management software for the Insurance Industry

The insurance industry is one of the oldest users of lead tracking software. In the insurance industry, there are sales lead management tools like Velocify and VanillaSoft which are specially designed for the industry. According to the set standards of the insurance industry, a lead is systematically processed from the stage of acquisition to conversion. These lead organization software are developed in such a way that they automize the complete management process for this stage. This actually allows the whole sales team to work on the important task of converting the potential customer to customers and also retaining the customers.

Lead management software for Small Businesses, A Necessity!

There are two crucial factors which drive the small business. One of them is regular cash inflow and another one is strategizing. Now using a lead management system can help the sales team get as much information as possible, about the potential client. This will provide them with a higher probability of converting the leads into sales. The second important factor is to strategize for the business. This aspect is can well handle by the lead organization software, as it can provide the analytics of their potential customers. If the company know their customer very well then they can plan accordingly.

Disadvantages of a Lead Management Software

  • Necessarily all such software may not have all the features needed for a perfect lead management system. This makes the sales lead management team put a lot of effort and the pipeline of customer relationship management and sales management slow down.
  • Sometimes it may not be compatible with the customer relationship management software and the sales management software if all three are from various brands then this may create a problem.
  • In some of this lead management software, the user interface may be too complex which makes it difficult to use for the team members who are not technically skilled.
  • In some cases, considering the leads as an important source, the businesses may allocate a huge amount of resource and drastically reduce the allocation for other important teams such as customer relationship management and sales management which may affect the business.

Any business needs to follow an organized and effective lead generation tool to fast track on to the path of business success - so make sure you implement the best software for your organization right now!

Lead Management related Articles:

Breaking Down: Top 10 Lead Management software in the USA

How to do lead Management that Improves Conversion?

7 Basic Features for an Ideal Sales Management Software

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Kiran BajpaiBy Kiran Bajpai | Last Updated: October 19, 2020

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