Businesses in a long time span have generated leads through various business tactics. These techniques are a part of Customer Relationship Management that help maintain a profitable and healthy relationship between business and its customers.
But now when we talk about Customer Relationship Management, it is mainly about the CRM software that keeps a track of customer data and helps the marketing and sales teams to manage their customer relationships. This modern CRM tool also integrate strategies and technology that contribute to effective lead Generation and conversion.
What is Lead Conversion?
Lead Conversion is the process of turning leads into customers. The process involves all the marketing activities that encourage a prospect to buy the product or service and drives them towards buying it.
Where Does Lead Management Fall Short?
Businesses face a lot of challenges when it comes to converting and managing leads.
- How to approach and attract the right audience for their products and services?
- How to further convert these people into sales?
Lead conversion isn’t easy. But once you identify the challenges of converting leads, you can easily develop a strategy to improve it further. A CRM software can help streamline and optimize your sales experience. CRM software manages all interactions with your prospects and current customers. According to a research, around 46% of sales teams have reported using sales CRM software for their conversion needs.
Ways in which CRM software can improve lead conversion rates:
Data Driven Leads
It is essential to understand your customers and prospects in order to sell them your products and services. Data driven leads are leads with information that can be used to convert them into customers more effectively. Basic data like email address, phone number does not help to drive in sales.
A CRM software helps your sales team to streamline sales activities and store all the crucial data at a single source. This data may include detailed information about the lead like the company they belong to, other solutions that they use or their web behaviour. This data can help the Sales Representatives to understand the needs of their lead better and reach out to them accordingly.
Shifting cold or unqualified leads up in the sales pipeline is a mistake that a lot of sales and marketing teams end up doing. Any lead that moves up in the sales pipeline should be a potential buyer. Determining qualified leads becomes easy with accurate data.
This can be sorted within a CRM software through the scoring technique. Marketing and Sales teams can set factors that define the score of the leads. The scores could depend on factors like emails opened, downloaded files, clicks on the link etc. Based on the scores a lead a lead can be moved up or down the sales pipeline.
It is difficult to keep track of all the task like following up, demo calls, making notes on calls or updating data. CRM software structures this workflow for you and automates your business functions. This allows the Sales Reps to have timely interactions with their prospected clients without slipping any opportunity or relevant information.
You receive real time notifications to alert you about various tasks like nurturing leads through emails, scheduled calls, follow-up tasks etc. Thus, saving the time wasted on doing these tasks manually.
It is essential to keep in touch with warm leads, you can stay in touch with them through regular emails or by analysing their web behaviour. CRM software will remind you regularly about follow ups. You can also use your CRM software to analyse the web behaviour of your lead. Real time notifications keep you proactive.
The right CRM software for your business can help you attract, identify, track, nurture and convert leads into business. IntelliCRM is can be customized to suit your specific business needs. The right tool and right strategy can help enhance lead generation, lead conversion rate and will also help you to grow your business.
Get in touch with us to know more on how IntelliCRM can enhance your business functions.