Posted by Indusa Admin on August 22, 2017 12:02 pm
Sales is extremely competitive, so timing can be everything. A prospect you’ve deemed as a “bad lead” is very likely to choose a competitor over you – sometimes in a matter of a few seconds – and that’s the worst thing that can happen to your business. So how do you engage prospects in such a way that they eventually choose your products and services? One sure shot way to do this is to efficiently qualify your pipeline – lead qualification can help you devote more time (and appropriate effort) in interacting with qualified prospects, and improve your revenue prediction.
How are you currently managing your leads? Are you sending all of them directly to your sales team (and ending up disqualifying a large percentage)? Or are you waiting for them to contact you when they are ready to make a purchase?
Clearly, lead management software and CRM are not the same; but with Gartner predicting the CRM market to reach $36.5 billion in 2017, it’s not surprising that CRM vendors are now embedding lead management into their products to further streamline the process. A robust CRM system with lead management capabilities enables you to keep all your leads, from all imaginable sources, in one place while tracking their activities and interests all along the way.
8 Ways to Drive Qualified Leads with a CRM System
Empower your sales and marketing teams to work together on the leads, and never miss out on any interaction or touch-point. Let’s look at eight ways you can drive qualified leads with a CRM system:
1. Understand Your Prospects:
While you have the easy option of nurturing all your leads the same way (using the same program or campaign), the question is – should you? No matter what form of marketing, whether offline or digital, the more targeted and personalized you are with your messaging, the more successful your lead qualification process will be. With a CRM tool, you can clearly define your target – identify your buyer groups, understand their concerns, get insight into the purchasing process and see how your product or service can solve their challenges.
2. Track and Manage Prospects:
One of the most important aspects for any customer facing employee is an easy lead assignment process. With a good CRM tool, you can set up automatic lead scoring and routing, and assign leads to a specific user or team. Effectively capture all activities on a lead, track their progress, and post status on an external API. Set the probability of winning for each potential deal, mention the deal stage, and view all your potential sales at once – see where they are in the pipeline and focus your energy to the ones that need most attention. Have emails, recorded calls, and sales notes automatically sent to sales staff, and reduce the amount of time spent preparing for follow up. With all the necessary information at your fingertips, revive cold leads, alter your pitch to new prospects, and personalize each follow up.
3. Automate Campaigns:
If you have many leads coming in each day (far too many to make personal phone calls), a CRM system’s automated marketing campaign feature can be a blessing. If a prospect has been looking for a particular set of services, you could send them an email, offering just what they need. With marketing automation, you can choose from a host of different ways to nurture leads – create a marketing list – from a single email, to monthly newsletters, or weekly offers – enter prospects into the list and choose the appropriate means of communication to start their customer journey.
4. Automate Workflows:
While automated marketing campaigns enable you to send personalized and targeted content to your prospects, automated workflows can be leveraged for automatic lead qualification and assignments process, enabling you to take the next best step. Streamline repetitive, manual, and paper-based processes and reduce time and effort spent in administrative tasks. Automatically assign work when a certain event occurs and enable automatic creation of Account, Contact & Opportunity on lead qualification.
5. Make it Personal:
Automating campaigns saves you the time and costs of qualifying leads, but unless they are targeted and personal, you stand the risk of losing them (and your brand value in turn). A CRM system lets you create activities for each campaign and assign them to different team members. With built-in advanced predictive capabilities, you can send your prospects and leads down different paths depending on their engagement – personalize your communication and build long-standing relationships.
6. Gain Intelligence:
While you can choose to spend thousands of dollars on new leads and customer analytics, with a CRM system you can get the intelligence and insight you need to qualify, and nurture your leads, and convert them into customers. Find prospects, leverage relevant news and discover professional connections. Gain intelligence across your all your customer touch points, track customer activity across all channels, and find the right opportunities to engage with them. Get insight into their behaviors and preferences, and plan your campaigns accordingly.
7. Achieve High Conversion:
The goal of any marketer is to close as many deals as possible, as quickly as possible. If you can provide a solution for any of your prospects’ needs within budget and schedule, you’re set for qualifying them and converting them into opportunities. A CRM software’s rich activity timeline shows you how your campaigns are doing, and allows you to track responses across a variety of factors. Access the most up-to-date information, measure how well your sales team is performing and identify your most successful lead source through reports and dashboards. Drive your efforts in the right direction, and ensure a high conversion rate.
8. Drive Revenue:
Lead nurturing is not just sending an email to a prospect once, but a series of planned and targeted communication with the intent of moving a prospect ahead in the sales cycle and encouraging them to complete a sale. Enjoy seamless integration with your email application, establish good communication, and align sales and marketing with a shared goal of producing high quality leads – leads that result in higher conversion rates, and ultimately higher revenue.
The Secret to Improved Marketing
Whether you are a small marketing firm, or a multi-national corporation spread across geographies, if you want to open up the possibilities for substantial ROI, you need to find a way to align your sales, marketing, customer service, and accounting teams. Leveraging a CRM software helps you to understand and track your prospects, automate your campaigns and workflows, personalize them, gain insight into your prospects, achieve high conversions, and eventually drive revenue. Align your customer teams to work towards a common goal (revenue), and grow faster as a business. After all, it’s not about having the right opportunities. It’s about handling the opportunities right.
How can CRM software benefit your lead management capabilities? Visit Indusa to learn more.
About the Author – Payal Vyas
Payal Vyas is a Senior Project Manager for Microsoft Dynamics CRM practice at Indusa. She is specialized in Microsoft technologies and ensures smooth execution of CRM projects from its kick off to release.
Contributing Author: Malavika Nityanandam