This post will focus on lead management to increase sales conversion.
First, conversion rates for marketing qualified leads to revenue conversion are low. You might be asking: How common?
Forrester reports that top performers can convert 1.54% of qualified marketing leads into revenue. Average performers convert less than 0.75% leads to closed deals.
What is the bottom line? Increasing lead quantity or quality will benefit you if you manage your leads well.
LeanData’s 2017 survey on lead routing management and management revealed 57% that respondents needed clarification on whether their lead management workflow results in a positive customer experience. Respondents were curious to know if they were happy with how they were treated.
There is room for improvement.
In this interview with Carla Johnson and Carlos Hildalgo on Finding Inspiration to Designs Customer Experience, Johnson states that “To create better experiences, we need to understand the experiences we are trying to create, and then think differently about what we can do to design them.”
You have to think about what experience you want your customer to have so that you can optimize your lead management approach.
Optimizing your lead management is essential to increase quality and quantity and convert customers.
Lead management often needs to be improved.
The top problems B2B companies face with lead management are:
Marketing qualified leads (MQLs), not subject to approval by sales, can be sent to salespeople.
Sales leads should be sent based solely on the behavioral lead scoring and not the customer profile.
Instead of focusing on contacts and unifying leads under the correct accounts in their CRM, focus on leaders.
Lead nurturing is done through one channel, such as email. However, automated workflows are not used for specific personas.
Sales are not allowed to give leads back to marketing to re-engage to do further work or nurturing.
Customer experience has yet to be used to view lead management.
Inadequate sales and marketing collaboration regarding the approach and process
These are just a few of the many reasons it is more important than ever for your team to manage leads properly and why you should optimize your approach.
Overview of Lead Management
The process of converting sales leads into customers is called lead management. It involves several steps. It manages and tracks customer touchpoints during the buying process, from the initial contact to the close.