Guide to Lead Management

In the past, the cost of sales lead management technology kept the system in the hands of Fortune 500 companies or larger companies that could afford it. Today the variety of tools for tracking sales leads allows small to mid-size businesses the opportunity to use proven techniques to save money and convert prospective clients into qualified leads with the hopes of closing the sale.

The likelihood of a prospect converting to a sale diminishes as time passes between initial interest and contact from the company. Lead management helps businesses identify and analyze leads so your company quickly reaches prospects before they lose interest.

Lead management services, whether software based or Web based, should allow you to:

1. Organize sales leads to increase productivity and performance from sales reps
2. Map the sales cycle by tracking sales leads
3. Measure your marketing campaign effectiveness by generating reports
4. Offer access for multiple users

Action Steps
The best contacts and resources to help you get it done

Buy lead management software

Lead management software provides you with lead management tools for your computer. All the data remains on your server or computer, which reduces security risk. The amount of data may bog your computer down or require additional RAM to house.

I recommend: Install a multi-functional software program like LeadTrack sales lead management software that allows you to import data from multiple sources and offers remote access from an authorized PC or PDA. Request a live demo or read customer success stories.  

Use an online lead management system

Web based lead management doesn't require you to install software unless you don't have a web browser installed. With sales lead management software, you have access to the data only on the computer with the software. Web based systems may be accessed from any computer and the host for the tools provides the security measures to keep data safe.

I recommend: Find a company that offers sales lead management for organizations, not just individuals. Sales in Sync generates a lead pipeline, provides hierarchical viewing, and allows you to filter lists based on criteria such as territory.

Nurture leads with your lead management system

Once a qualified lead fails to convert to a sale, many companies abandon the lead. A good nurturing system continues to provide information to the lead at a reduced level. Continually mining cold leads converts prospects back into qualified leads with the chance for a sale.

I recommend: Use a company like Eloqua that includes nurturing programs designed to help you target disqualified leads with educational campaigns, newsletters, special events or sales.

Tips & Tactics
Helpful advice for making the most of this Guide

• Software programs may seem like a one-time cost, but require administrative supplies, upgrades and other continual costs.
• Many Web based lead management systems charge a monthly fee to host your information.
• Look for a company with flexible options for adding or removing services with no set contract.

The official source of Lead Management is the Lead Management page at Business.com