Companies are using many methods to attract new customers. After all, no customers, no business.
Similarly there is another new method that many companies are adopting is lead management.
What is a lead?
A lead is a person who has the potential of one day becoming a customer. Having an effective system, which manages leads, can have many benefits for your company.
Benefits of lead management
The first benefit
You can keep on top of what works and what doesn’t.
Lead generation is the first stage of lead management. This is where you attract interest in your company.
Well these days lead generation, this is usually done via social media instead the traditional ways like events and advertisement such as television or magazines.
Lead management help you to count how many leads become customers and compare the different methods of recruiting leads.
For example, you may find that whilst internet campaigns generate more leads, leads created at events are more likely to become customers.
The second benefit of lead management
It enable you to have a better understanding of how leads develop into customers.
You may find that leads are more likely to become customers if they are contacted often, and sent regular emails or letters.
However, you might also find that this can alienate the leads and make them less likely to become customers.
Lead management means, you can keep on top of what turns them into customers and what doesn’t.
Once you have this understanding, you can use it to increase your customer base.
- One thing that’s proved after study is that most people don’t want to invest their time or money into a soulless company that’s just after their money.
They want to feel like you care about them, and that you genuinely want what’s best for them.
That’s where the third benefit comes in,
Constant communication with customers and leads.
Although the definition of constant might differ from company to company, the fact remains same
i.e. an effective lead management system; you can keep in contact with your leads, and update them whenever it is necessary.
It’s not just a nice idea, it’s backed up by evidence.
Lead management plays significant role when you consider that 80% of marketing leads are lost.
Isn’t it much better if these lost leads were harnessed?
Likewise it make more sense to fight tooth and nail for these leads to become customers.
73% of companies have no effective lead management system.
Being in the 27% will make you stand out and give you opportunity to overtake your competitors.
Salesexpert.me is one of 27%
Companies with an effective lead management system have an average 25% of their leads becoming customers.
In contrast companies without an effective lead management system have an average of 10%.
While some might argue that leads don’t matter, as they’re not customers, and won’t effect your profits, the statistics disagree.
However, keeping on top of your potential customers (or leads) means that you will be able to target them in order to increase their chances of becoming customers.