Lead Mismanagement Can Cost You – Learn How To Avoid It!

Success of a business relies on its ability to generate, procure, and nurture the leads! Better lead management increases your chances of converting MQL to SQL (Marketing qualified lead to Sales qualified lead).

The process requires a prominent lead management tool, and the most important aspect is to avoid lead mismanagement. Sales funnel tracking is an essential part of any lead conversion. Read more to learn some useful techniques.

Although there may be some variations, most  efficient lead management process comprises of four key elements:

  • Lead generation
  • Lead tracking
  • Lead processing
  • Lead nurturing

For the above-mentioned list, a well-designed lead repository tool is something that every organization should explore and invest in! Lead management mistakes create havoc for both marketing and sales team and hits the top line projections and bottom line efficiencies. To avoid lead mismanagement, LeadTalks has a list of know-hows that will improve the way you manage, store and score your leads.

A mismanaged lead handling process

What happens after the lead is received? What process does your company follow to enter the initial contact?

A lack of coherence in the lead management process increases confusion among the sales personnel and your organization may lose a potential customer. It is critical to save data and initial conversation in a central repository system like LeadTalks. Assigning the lead to different members in the team during the sales cycle should be well-defined and with the right context.  Otherwise, it may result in challenges like lack of focus, rework, and unnecessary follow-ups that would make a prospect look at other solutions.

No lead prioritization and scoring

The costliest lead management mistake companies make is failing to prioritize the secured leads and score them. Lead scoring is a supplementary lead nurturing technique built to help marketer rank leads within the marketing funnel. It prioritizes high ranking leads and allows businesses to better understand prospects’ place in the buying cycle. Your keen understanding of potential client needs and where they stand in the sales process helps in lead scoring. It allows organizations to decide on the most strategic way to deal with the opportunity. With a heuristic lead scoring approach, LeadTalks saves significant time for the sales personnel and helps them improve closure rate.

Lack of meeting notes

Have you seen CRM updates like “Lunch for Scott” or “Met with Lucie”? You are not alone. Sales personnel care about their time and sometimes Lead Management tools make it difficult for them to input context specific notes in a quick & easy way. They would love to use a Mobile App to input voice note before they jump into their next call or rush to another appointment. Generic notes help neither the salesperson nor the managers and only results in appending Bad Data to CRM. Whereas, context-specific notes directly helps to increase lead conversions and also improve the quality of the solution as customer needs are well documented.

Not updating upsell opportunities

Upsell is a critical component of the revenue stream for any organization.  Opportunities come from all directions, particularly existing customers. It is very important to have a tool that can capture, document and leverage this critical data point. Products like LeadTalks helps you gather customer testimonials (including video) during your visit. This leverages your existing relationships which are of paramount importance and LeadTalks CRM acts the linchpin to enable that vision. Having the lead database which is accessible for all the levels of roles in the organization is vital. This provides transparency, control, and ease of work.

Wrap Up

Aforementioned are the costliest lead management mistakes which you can’t afford to make. Plan and invest in a sensible lead management tool that eases up the process.