Guide to Do Lead Management that Improve Conversions

Guide to do Lead Management that Improves Conversions One of the most important challenges that B2B marketer encounter is that how to look after the lead and finally push it toward the conversion. In this article we will see how best we can manage leads and improve the rate of conversion.

Lead is basically a prospect, visitor or user who expresses interest in acquiring your product or services.

For this purpose, first we need to establish a very strong framework which can save and jot the entire information details and activity of leads. When the lead enters to your website, which pages are browsed , inventory of clicks, impressions and exposures should be saved in B2B automated software.

The company CRM and automated software must have potential and capability to save the information on various aspects like storing information of visitor’s demographics, ratio of visits on key pages, bounce rate, total landing pages, total page views, sign ups, lead information in signups like phone, email, company name and name, leads and conversions. Furthermore, cost on each activity from exposure till conversion. Therefore sales and top management will have an idea of the average cost of one conversion (client).

Source: 2017 State of Digital Marketing Report published by DemandWave

Lead Management Mechanism: Here first B2B marketer has to outline the steps to catch the leads, create their awareness and build interest to draw them toward conversion.

Develop a Scorecard: For managing leads, you need to develop scorecard where first you can rate the leads on the basis of their priority so that marketing and sales team will further chase them accordingly. Subsequently, on the basis of diverse attributes you can rank them. The B2B marketer has to evaluate and rank lead on the basis of following scales:      

Revenue generation possibility of lead for instance (A, B, C or Gold, silver, platinum etc.)

Location (which regions consist of more and less conversion rate) Industry Ratio of visits, impressions and clicks simple sign up visitors (which can be converted in leads) Other

In this way, marketer can set up a profile of every visitor and lead. Thus illustrate ideal leads and visitors for marketing and sales team. Furthermore, you can also assess how people and visitor respond to your offers and content. Digital responsiveness also includes how many visitors open your emails and click on verify link (given in the email), how many respondents replied your email, how many downloads of your content has been done. How many ask you for the demo of your services. Therefore B2B marketer has to determine how to give rating and ranking each and every sign up and lead in order to better maintain the lead management.

The more sound the lead management scorecard will be the more easy and simple for sales and marketing team to follow up the prospects.

Setting up Prospect Filtration Department: As a result of web optimization, SEO, SMM, and SEM. The B2B web brand is more likely to receive various visitors and sign ups. Here, B2B portal has to set up personnel for Inquiry filtration or prospect filtration. These personnel will follow up the sign ups and visitors thus call them, email them or chat them to identify which one of them are sales qualified leads, which one are free members looking for specific supplier or buyer, which visitors are bounced back and gone away. Hence these personnel will hand over the sales qualified lead to sales department, filter inquiries to relevant members of B2B web, handover the statistics of clicks, impressions, exposures and bounce rates to the concerned marketing team. In this way, these personnel will save time and energy cost of sales and marketing team.

Sales Qualified Lead: The prospect filtration personnel will mention the status and remarks of every lead in order to give more specific and need oriented information for sales team about every sales qualified lead. From prospect

filtration personnel when sales team received leads which are genuine and sales qualified. It will be easy and efficient to target the right people. Therefore sales team can schedule their time, energy and resources in order to chase and follow up the sales qualified leads. In this way, sales team will start emails, calling and chatting with their leads thus mentioning the status and their remarks at the end. The web B2B portal CRM must be capable that these remarks and statuses are also read and studied by the top management and concerned department to keep the track of cost and revenue incurred on every conversion and lost lead.

Marketing Research: The reasons must be noted for conversion and lost leads then shared with the marketing research department in order to identify the causes of lost leads then work out them to improve our services. On other hand, what are the reasons of success and conversions thus work out them to discover new successful methods and thus sustain best practices and avoid the harmful ones.

Establishing KPI card: For sales team, there should be a KPI (Key Performance Indicator) card needs to be established which can act as a Standard operating procedure SOP to gauge the performance of sales team that how productively the sales team is working for lead conversion. It could be like for instance, 100 introductory emails, 10 follow up emails, 17 connected calls and 15 chats per day. One of the B2B expert says for conversion operational excellence is a key to success.

Conclusion: For lead management, it is highly important to establish the efficient system and mechanism of lead measurement plus maintain extensive data and information about each visitor, prospect and lead. Once you have acquired the data then separate the qualified and unqualified lead. Afterwards, extensive and smart follow up of sales qualified lead will result into the best lead management toward productive conversions. Finally you will come to know what is working and what is not working via monitoring.

Hence you can change your course of action and process accordingly to boost success and conversions.