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How Technology Can Simplify Lead Management?

Leena Fernandes

Leena Fernandes

June 12, 2020 |

Competing companies give their best efforts to entice potential customers to try their products and services. Getting customers to try their products is just the second step in acquiring customer loyalty. Businesses need to first identify the ways on how to reach the attention of potential customers in order for customers to even have a chance of buying the  company products and services.

Lead management is one way to help entice customers to try company products and services. It is also considered as one of the most effective tools to help small businesses sell. It serves as a connection between marketing and sales.

In a B2B Lead Generation Statistics for 2019, more than half of marketers spend their budget on lead generation. It pinpoints potential buyers, informs them of company products and services, and participates with them. When leads are eligible, they get transformed from marketing to sales.

Table of Content

  1. The Lead Management Process
  2. How Technology Can Simplify Lead Management

The Lead Management Process

Lead management involves processes to successfully transfer the potential buyers or leads to the sales team where they will be entering the sales cycle of the business.

The following are the steps in the lead management process:

  1. Identify and familiarize yourself with your leads. 
  2. Generate and gather Intelligence about your leads.
  3. Use lead scoring to your advantage.
  4. Develop your leads. 
  5. Transfer leads to sales teams.
  6. Monitor and measure your leads.

How Technology Can Simplify Lead Management?

Technology helps simplify and speed up manual processes while still getting accurate and meaningful outputs. A lead management system can be utilized to support the steps in their processes.

The following are ways of how technology can help simplify lead management:

1. Smart Lead Scoring Models

Lead scoring is an indispensable feature in a lead management tool. It lets you identify and differentiate among leads who are ready to convert versus leads that only came from reading some of your blog posts or subscribing to your newsletter. 

With lead scoring, you assign values to different attributes that are relevant to your business. This process can be complicated depending on your company database and business model. That’s why it’s best to use a tool that can streamline the process.

One of the top types of data used in lead scoring is a website visitor’s online behavior. By analyzing how a lead interacts with your website, you can determine how they are interested in buying from you. For example, you can assign a higher lead score to a visitor who checked out your pricing page (a high-value page) and requested a demo (a high-value form).

Other factors you should consider are demographic information, social engagement, and email engagement. With technology, you can accomplish sales lead management with ease. 

2. Use of Artificial Intelligence

Artificial Intelligence is made to process data faster than humans. Manual processing is more time-consuming than the implementation of artificial intelligence. Artificial intelligence can produce more accurate outputs compared to manual or human-processed output.

Some artificial intelligence that helps marketers in lead management analyzes content from social media websites to identify specific consumer likes and interests. The system uses uploaded photos in social media sites and actively determines logos and other visual representation of a consumer’s interest.

Some AI systems assist marketers in discovering new potential buyers and get smarter in the long run. This system can also locate sales leads through sifting through office replies, replacement contact details of people who moved from one job to another, and email signatures with changed contact numbers. Moreover, engagement is a crucial aspect of lead management that can be optimized with a communication software.

3. Cost Benefits

A software aids in performing repetitive administrative work in marketing allowing team members to invest more time in building relationships with clients. Cost to edit and replace errors from manual input of information in performing processes is lessened or eliminated due to the accuracy of work processed by the software.

A system can also help achieve efficiency in the outputs of lead management. The shift from manual processing of lead information to software process integration helps decrease errors in processing and performs expert computing and processing procedures. By decreasing the errors and limiting the need for experts’ technical support in the lead management process, the cost to hire experts for technical assistance will be lessened or eliminated.

4. Personalized Lead Engagement

Phone calls are still very personal and engaging which makes an effective lead management strategy. Actually talking to your leads creates a rapport that’s nowhere similar when you’re just exchanging messages online. With today’s technology, you can allow customers to call directly right on the page they’re browsing. Limecall is a prime example of a robust cloud-based phone system.

This tool lets your website visitor launch a call whether they’re on your website or mobile app. The one-click capability does not even require installation. And customers will appreciate how there’s no need to open additional tabs, annoying transfers that take too long, or complicated voice menus. They only need an internet connection to do so, and don’t have to pay for the phone call.

What makes such technology efficient is that it eliminates manual effort. Following up is automated. It even saves a backup of conversations so you can monitor the exchange and investigate any potential fraudulent claims. 

5. Big Data Analysis

Maximizing lead management system features can assist companies in managing large volumes of data and list building for effective lead generation by the marketing team.

High volume data is difficult to be processed by manual procedures. What takes hours in manual processing can be accomplished in seconds with the click of a mouse through the integration of software in the lead management process of an organization.

Most of the time, humans commit more mistakes in performing responsibilities for business processes than computers. The resulting information from manual processes is less accurate than the results from the software because of the high risk of errors in data input and processing.

Lead Generation is the Future

Technology has made a great impact on the improvement of business processes. The lead management process is not an exception. The integration of technology in the lead management process has helped marketers acquire and process leads faster and more accurately. The best lead management software that suits your needs best can help companies save on costs like hiring experts for technical support.  

Needless to say, businesses that embraced lead management tips and technologies are seeing positive results. And with the fast advancement of technology, there is a much brighter future for lead generation. 

lead management limecall
Leena Fernandes

Leena Fernandes

A writer by choice. Leena has served her passion for writing mainly into the B2B marketplaces.

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