5 Ways to Manage Sales Leads

Every entrepreneur wants his or her respective company to be profitable.

Businesses dedicate valuable time to generating sales leads through various marketing and advertising strategies.

But what about managing those same leads? How can an enterprise make sure that possible sales don't fall through the cracks?

Let's look at five ways companies can better manage sales leads:

1. Figure Out The Source

Sales leads have to originate from somewhere, so businesses must determine what method of generation attracted the possible customer to their landing page, according to Entrepreneur.

Was it social media, banner ads, a referral?

All are valuable ways to attract potential clients to a page, but there's so much more to learn from the behavior that followed.

Companies can track these sources to discover what marketing methods worked - and which ones failed.

Furthermore, monitoring elements, like click-through rates, will help businesses better understand where the page went wrong, whether the site had too much information to sift through or not enough to truly inform the potential customer.

2. Keep Updated Database

It's difficult to bring in business if a company's lead register is outdated. Enterprises should maintain a policy for going through their databases to sift out old or duplicate customers.

Without records that reflect the actual information of sales leads, the database will not be functional.

With the influx of leads that a sales team deals with everyday, data can quickly become unusable. Make sure employees know to update particular information, including contacts, after every client conversation they have.

Furthermore, your tracking system should keep record of the behaviors of sales leads: what pages they click on, amount of time spent on a page, etc.

This will help your company personalize its outreach in the future, hopefully turning that lead into a conversion.

3. Deliver Leads Quickly

A prospective customer can lose interest quickly if a company doesn't follow up in a timely manner.

Leads could find another business that fits their needs in the time it takes one enterprise to reach out.

It's critical that companies distribute leads efficiently; within 24 hours, if possible, according to CampaignerCRM. Make sure that the communication with a prospective consumer is personal, instead of an automatic response.

A quick reply makes a business stand out among its competition and gives potential customers the feeling that a company truly cares about their investment.

4. Define the Term

When the sales and marketing teams have differing ideas of what a qualified lead is, companies can encounter poor management of leads.

To counter this problem, businesses should define what a sales-ready lead truly is and make sure all departments understand the term as it applies to them.

This clarification will probably vary by enterprise and industry, but there are certain elements a qualified lead should contain, including demographics, source and behavioral information, according to Marketo.

Companies want to ensure they are approaching a potential customer with as much information on their side as possible.

5. Nurture Current Leads

While some customers may purchase a business's good or service on the spot, many more will wait to invest their money.

Just because a company didn't make an immediate sale doesn't mean the enterprise should forget the lead.

Instead, businesses have to nurture these leads, by creating campaigns and offers that allow for continuous interaction. These touches have the potential to turn into a conversion.

This individual marketing strategy takes research on the company's end, discovering what content interests potential clients most and draws them to a landing page.

Managing leads is a crucial practice for companies. Not paying attention to prospective buyers can lead to businesses missing out on valuable sales and possible long-term customers.

By nurturing existing leads, determining the source and keeping an updated database, among other practices, enterprises can ensure that leads don't fall through the cracks.