Wednesday, 26 December 2012

Lead management system: How CRM can help you generate higher sales?

You may get some good leads but will they be of any use, if you fail to convert them! It is vital to ensure that you do not lose the race after doing all the hard work. The market today is highly competitive. Your potential clients can be easily stolen by your rivals, if you fail to follow the right steps. One wrong move and your business may get doomed. For the survival of the business, it is crucial to ensure high ROI. That is only possible if you know how to take care of your leads so as to ensure actual conversion. The lead management system, in this respect, can be of great help.

There are some special software programs and tools available in the market. One of them is the CRM which is a great tool to monitor & manage all your leads. Through its assistance, you can keep a track of all the activities and make regular updates. These, eventually, help to affect higher sales. Most businessmen lose their leads since they are unable to manage & update them efficiently. The software is a fail-proof solution for all these people. 

One of the chief strategies for effective lead management system is to put them in different slots. It is very important to separate the chaff from the grain i.e. to extract high-quality leads from the poor-quality ones. By putting them in different slots, you can manage them much more smartly. For instance, those who have shown higher enthusiasm and are more likely to buy your products can be termed as ‘hot’ while the moderately enthusiastic ones can be classified as ‘warm’ and the less enthusiastic leads can be labeled as ‘cold.’ This classification helps you to narrow down your immediate goals and also gives you an idea as to how to approach an individual client. 

For instance, the client marked as ‘hot’ can be approached immediately and advance talks can be made with him. On the other hand, the ‘cold’ ones have to be cajoled and oiled so as to provoke their interest. They may not be too eager to buy your product possibly out of ignorance of your quality or because of a prejudice in favor of your rival company. So, you can make strategies accordingly to take care of them.

CRM also helps you to allocate your time tactically and effectively. If time is short, then it would be much more prudent to invest them in the ‘hot’ and ‘warm’ leads than wasting them over the ‘cold’ ones. The strategy can work wonders for the sales department which can, thereafter, channelize most of its resources towards ensuring conversion of the ‘hot’ leads. 

For a profit-oriented lead management system, you also need to chalk out an essential feedback channel. If the queries or doubts of your leads go unanswered or neglected, then they will be deviated to other rival companies and will lose faith on your company. With the aid of friendly tools like CRM, you can address this situation so that no such undesirable eventuality occurs.


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