Five Stages of Lead Management
b'Lead management is one of the top marketing keywords that is searched on Google every day, which is a clear indication of the huge and growing amount of interest in the topic. Are we clear on what lead management means? Basically, lead management is an organized way of generating, distributing and managing contacts with potential prospects, and engaging with those prospects to identify or generate an opportunity for a sales team to pursue. Lead management is one of the most important business functions, bridging both marketing and sales, through a combination of people, process and automation.\\nJust like a fish out of water, a lead has a specific and limited lifetime. Once a lead has appeared, it needs to be nurtured, managed and closed systematically. A typical lead management system will allow an organization to manage five critical phases of the lead life cycle, as follows:\\n\\n\\n \\tLead Generation - Content marketing has displaced the old model of telemarketing to generate leads. Today\\u2019s marketers know that buyers search online and, by the time they contact a vendor, they have a very clear idea about what they are looking for. This is the precise point where the first step along the path of systematic lead management, using an integrated approach to lead generation, must be taken. Integrated tactics like social marketing, search marketing, email marketing, direct mail marketing, and online banner ads, are all critical methods of generating awareness and create a solid foundation for inbound marketing. If you combine inbound marketing with outbound telemarketing towards your installed base of existing customers and interested prospects, you can exponentially increase the effectiveness of your lead generation efforts.\\n \\tLead Distribution - With leads in the pipeline and interest from prospective buyers, the next key step in lead management is lead distribution. I can\\u2019t emphasize how essential it is to have an automated mechanism for lead scoring and distribution. Not all leads are ready for sales contact, so either they need to be nurtured further (please see Point 3, below) before being handed to an inside or outside sales rep or, in the case of channel-based organization, must be distributed to the right channel partner. This is where a rule-based lead distribution engine comes in. Any state-of-the-art channel marketing automation platform should be able to distribute a set of leads to a group of partners based on various criteria, such as partner type, partner location, partner competencies, or interested buyers\\u2019 segment, e.g., SMB, mid market, enterprise, vertical or geography.\\n \\tLead Nurturing - Another critical component of lead management is lead nurturing and scoring. A marketing automation platform should be able to automatically create a multi-touch engagement with a potential buyer based on their purchase behavior. A prospective buyer\\u2019s online persona should be scored in a systematic way, and appropriate sales people (whether internal captive or external partner-based sales reps) should be alerted when a lead is ready for contact. This systematic approach towards lead nurturing is critical to drive sales efficiency, increase closure rate and build the reputation of an organization as a responsive provider in their marketplace.\\n \\tLead to Opportunity Creation\\u2013 Once a marketing-qualified lead has been converted to a sales-qualified lead, the next big step is to develop the opportunity. This is the moment for exact deployment and fit analysis. This is a critical sales step, and also an essential part of the\\xa0lead management process. \\xa0Most existing CRM systems provide an effective way of tracking and managing opportunities, but they aren\\u2019t designed with the channel in mind. If you are selling through the channel, make sure that you use a\\xa0Partner Relationship Management\\xa0platform that can drive opportunity creation and management through the channel in a dynamic and distributed fashion.'