If you’re a business owner, chances are you’ve at least once found yourself in a situation where sales have declined or remained at the same stable level.
The reasons for this can be different. However, the most common of them is an ineffective lead management strategy. It is the basis for business development and increasing the number of customers.
Under such conditions, it is important to periodically adapt it to new realities. Otherwise, the sales level will not increase.
Even if you have created an extremely effective sales funnel, after a while there may be gaps in its work. We suggest you find out how you can improve the situation, and what methods should be used for this.
What Stages Does Lead Management Involve?
This process is one of the key factors to ensure a high level of sales. Without it, the effectiveness of all marketing tools can be quite low.
That is why every business should implement effective management strategies to set up a sales pipeline. However, first, it is worth understanding in detail what stages the process consists of. Basic information about them is given in the table.
|Lead generation||This is where the management process begins. At this stage, the visitor approaches the marketing funnel or certain touch points (advertisements or links). At this time, it is necessary to monitor and understand whether the person intends to perform the targeted action. A cheap call tracking program or other useful tools will help to do this.|
|Lead scoring||If the visitor left his contact details or contacts the manager by phone, he becomes a potential customer. At this stage, you need to find out as much information about him as possible to guarantee an individual approach. In this case, the chances that he will turn into a client and even apply again, significantly increase. To achieve this, it is necessary to assess certain qualities.|
|Distribution||Having learned the necessary data with the help of lead management or other tools, you can proceed to distribution. This means that leads should be directed to a specific agent or call center based on certain criteria. An important criterion is the ability of such an employee to help a specific person in the best possible way.|
Separately, it is worth highlighting lead nurturing. This process involves the preparation and provision of certain incentives for the implementation of a target action.
It can occur at the initial stages when the visitor studies the features of the product and makes a certain decision, as well as after making a purchase/order. In the second case, it is about using certain methods to keep attention and turn an ordinary customer into a permanent one.
How Can a Company Optimize Its Customer Acquisition Strategy?
Nowadays, there are many tools available to business owners to improve their interaction with potential customers. Especially valuable are those that make marketing automation possible. These are programs and applications that are designed to perform many business processes.
The important thing is that they can be done manually, but it is not profitable. After all, a lot of precious time is spent on such processes, which can be used to perform more important tasks. In addition, certain automated tools take marketing solutions to a more sophisticated level.
For example, a program for lead tracking allows you to receive certain data about subscribers who come from different advertising channels. In addition, every business owner should pay attention to several important recommendations.
Review and Evaluation of the Current System
Before starting to improve customer relationship management, it is worth analyzing the current strategies and the specifics of their implementation. In this case, it is worth looking for answers to the following questions:
Do you think that the sales process could be better and more efficient?
The answers to these questions will help to get a general understanding of the current situation and areas that need improvement. Based on this information, you need to start looking for ways to improve the process.
Qualification of Potential Customers
It is worth starting the analysis of the item from the studies conducted by Ruler Analytics. They showed that about 37% of marketers face the problem of attracting high-quality potential customers.
High-quality leads are visitors with the highest intent to purchase. That is, there is a high probability that a lead conversion will occur.
For everything to work, it is necessary not only to be able to attract such people but also to recognize them as soon as possible. Only in this case, the probability of carrying it through the entire funnel increases significantly. This is what qualification is for.
This is an action aimed at analyzing certain information about the visitor and assigning him the appropriate status. In addition, for qualification, it is important to conduct a survey and leave a simple form on the site for this.
Implementation of Automated Solutions
Another effective way to improve the process of attracting and managing potential customers is sales pipeline management software.
These tools provide automation of certain processes, calculation of important indicators, and obtaining valuable data about potential customers. Thanks to the use of such a solution, you can get several advantages:
This will not only help optimize the work of all departments related to sales but also significantly speed up the process of attracting new potential customers. In addition, lead generation software provides significant time savings for routine tasks.
Periodic Analysis of Indicators
In the process of managing potential customers, certain indicators are of particular importance. They are real facts that help form a complete picture of the effectiveness of current strategies. Thanks to the formation of periodic reporting, it is possible not only to streamline processes but also to identify gaps.
It is easy enough to determine them. To do this, you need to compare data for a certain period and other criteria.
If certain deviations for the worse are observed, then this is direct evidence that certain tools are not working. Customer management software will also help with this. Automated solutions significantly speed up the calculation according to various criteria.
Providing Useful Information
When analyzing your current lead management strategy, you need to pay attention to the content of your ads and content. It should be as attractive as possible to the target audience and respond to their needs.
However, some companies move away from this principle and start praising themselves and their achievements too much. This approach is ineffective, so you should avoid talking too much about your business.
If you notice negative changes in sales or traffic, then you should focus on your lead management strategy. In such situations, it usually turns out that changes and revisions of existing solutions are needed.
Under such conditions, it is worth following several tips: reviewing the current state of sales, implementing automated solutions (for example, contact management software), qualifying potential customers, reporting, and improving content.