Lead Management

What is Lead Management?

Lead management is the process of qualifying, analyzing, and nurturing incoming leads to convert them into a business opportunity. A lead management system typically involves the creation or capturing of leads from multiple channels. Such a system allows you to make the most of the prospects who might be really interested in the services or products you are offering.

Biggest Challenges Faced in Lead Management

While putting efforts towards expanding your business, you may find it exhausting to hunt for leads manually, keep your database updated, and do follow-ups. A lack of a lead management system can make it hard to handle the leads you may generate on daily basis. Here are some of the common challenges with a poor lead management system:

Manual Lead Scoring:

Poor lead management can lead to loss of productivity since there is no process that exists to qualify or rank the leads in order to importance.

Lack of Insight into Lead’s Activities:

Without a lead management system, it can be difficult to track the activities of prospective leads on the website, or email which can lead to the loss of potential buyers.

Duplicate Leads:

A CRM is filled with several duplicate lead entries. This can waste the time of your team and even result in the slipping of the leads.

Lower Conversion Rate:

It also leads to lower conversions as the sales and marketing teams are bound to send delayed query responses and miss follow-ups.

Lack of Lead Nurturing:

Lack of information about the requirements of the potential leads/customers can cause liability to send emails on time. This can devoid you of lasting relationships.