What is Sales Lead Management?
Sales Lead Management can best be described as a term used in business to describe the practices, methodologies, and systems that help companies generate new potential business clientele. Lead Management is generally operated through a range of marketing and advertising techniques. Often times, Lead Management is a predecessor to Sales Management and Customer Relationship Management (CRM). The synergy that exists between all three facilitates business profitability, and the overarching process has commonly been referred to as customer acquisition management. In sum, the process allows the business to be profitable by acquiring new customers, selling to existing customers, and creating a market brand.
Why Use a Sales Lead Management System?
The general principles of Lead Management create an ordered structure for managing leads, which are, in essence, volumes of business inquiries. The main purpose and overall goal of an effective lead management initiative for an organization is first and foremost to generate new business revenue. Other supplemental benefits and/or contributors to the overall goal of increasing revenue are: increased visibility, and an improved general attitude of potential clients and the public at large for future business development.
How Does it Work at 5Degrees?
Sales Lead Management begins when interest is first identified. This can be through numerous ways such as: direct connection efforts (list acquisition, outbound calling), awareness efforts (PR, social media), or discoverability efforts (search marketing, search optimization, in-person or online tradeshows). The process can be developed to target either direct-to-consumer or business-to-business (B2B) marketing strategies. With the dawn of the Internet and other information systems technologies, many businesses have shifted a lot of the past manual workload to automation systems. This process change has caused many businesses to become what is known as technology-centric. However, it must be noted that the personal interaction with lead inquiries is still crucial to achieving success. Because, at the end of the day, our customers, and more specifically the relationships we have with them, are all that matter!