Why Organizations Must Have Lead Management System in Place?

As per study from Yankee group, 80% of sales leads either go stale or are simply lost because either they were not captured or followed up or the organization has no follow-up strategy in place.

Here's another, a study by Marketing Sherpa showed that 80% of all respondents are not in a buying mode when they first respond. Yet, too many companies immediately forward every “lead” to sales. These leads yield very little in way of return and often most leads end up decaying in system.

Finally, a report by Aberdeen showed that closed (qualified as uninterested) leads that were nurtured (create one-to-one relationship) returned a 47% higher order value than non-nurtured leads.

Lead Management is the process of capturing leads, tracking their activities and behavior, qualifying them, nurturing them i.e. giving them constant attention to make them sales-ready, and then distributing them on to the sales team.

Lead Management System (LMS) fundamentally takes care of leads leakages, leads follow ups and leads nurturing or engagement. An effective lead management sends only the quality leads to sales; while nurturing all the other leads until they become ready or qualified.

Here's an example of an lead management system, implemented by me for a listed real estate firm.

Companies that implement a Lead Management System (LMS) will be able to achieve:

• Higher marketing campaign effectiveness and better campaign tracking

• Higher conversion rates

• Improved sales efficiency since only qualified leads are passed on to sales (more time to engage) and

• Increased RoI

Finally, here were the project objectives met by the firm, post implementation of LMS:

• Automated capturing, tracking, qualification, assignment and nurturing of leads

• Improved sales revenue by 18%

• Real time analytics or insights on

1. Leads or Sales Funnel

2. RoI on Marketing Campaigns

3. Sales Team & Manager Efficiency.

4. Project Success and Failure Factors, etc.

Contact, if you're keen to enhance your sales revenues by at least 15%.