Back in the year 1885 William Lever of Lever Bros said that “Half of the marketing money you spend is wasted—trouble is you don’t know which half.” However, there is a fair chance that substantially more than half of your marketing investments are being squandered.
Today most lead generation activities are not followed up appropriately by sales, for non-intuitive and legitimate reasons. The legitimate reason for no-follow-ups is generally that the leads are unfiltered and low-end. They might be organizations from the wrong verticals that are very small to be in the marketplace. Similarly, they might be students or consultants who responded to any specific offer. The non-intuitive reasons can include situations like where someone called a couple of times but with no response. This means if the lead generated it tough to work out, it is most often dismissed. As less as five percent of the leads are followed up by sales.
There are also cases of long term leads that are mostly ignored by sales as they are not looked upon as helpful in influencing the present period’s quota. There are organizations that are qualified without any immediate interest that are ignored by sales and marketing, which is a huge waste as the cost to recognize those are qualified versus the ones that are not are in turn are frequently duplicated and loses the potential benefit.
Therefore, lead management comprises of the overall business process and practices in an enterprise that is directed towards gathering the new consumers, retaining the old ones and also setting up a positive brand image. It is an intricate process that includes elements like capturing lead intelligence, lead generation, filtering leads and distribution of qualified leads to the marketing team for lead nurturing and also high priority leads to the sales team for transitions. The main aim of an efficient lead management program is to assist, manage and track the overall lead Lifecycle until it results in sales that in turn maximize the revenues and ROI.
Service providers of lead management offer the B2B enterprises with an easy and powerful way to make use of a solution based marketing automation platform that allows the lead management throughout the lead cycle. The software comprises of the following:
- Lead Generation
- Business Intelligence
- Lead Qualification
- Lead Nurturing
- CRM Integration
- Collaboration
- Analytics
Therefore, if you want to attain the best of all your marketing initiatives, optimize the expense and maximize the ROI then it is advised that you resort to the appropriate lead management solution.
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