In the Lead management software, lead source is typically used to identify the enquiry received from which source. As we know digital marketing is playing an important role, every company’s marketing department is trying to reach customers, to have their interest in the product or service purchase. Through the Lead Management System, leads are identified with one of the metrics – lead source, wherein a field is provided to mention the source you received the lead.
Lead tracking is a vital aspect of the sales process. You need to recognize which lead sources are best and give you more and more revenue. So your organization can take further steps to make this process more strong. When you track lead source, it allows you to calculate ROI of your marketing efforts. You can identify which marketing campaigns are beneficial and give you useful leads. You can better understand that, which sources are giving big deals and are it worth to spend money on it.
Essential Marketing Metrics
The marketing metrics are used by marketing teams, to check effectiveness of running campaigns over different channels. The marketing metrics are measurable and able to track the digital marketing performance, how is the SEO progressing, how is the growth of the social media.
You may get information from the inquiry, which sources the lead came to you. This lead source information is to be recorded every time into the lead as this is one of the important metrics. Companies are able to know how the customer came to know about your product or service. This will help to determine where the salesperson needs to put his efforts. Main aim of lead sources is to help organisations to improve lead generation campaigns through the lead management app. It is the finest way to monitor the performance of the lead sources.
What are the sources of lead generation?
- SEO – SEO stands for Search Engine Optimization, this kind of practice is done to increase the number of visitors and quality visitors traffic to your website through an organic way of search engine results.
- Social Media – Social media marketing or commonly known as SMM, which is one of the internet marketing, involved in creating and sharing the contents over social media networks – FB, Twitter, Instagram, LinkedIn, Pinterest. This is helping to create the brand of the company and market the products to the right audiences. .
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- E-mail campaigns – Email marketing is usually done for sending a commercial message to a bunch of audience or people by using the email. While broadcasting the emails – it is always concentrated on the potential or existing clients for the awareness. This action involves advertisements of the new launch of products or services and requests for new business opportunity availability. Email marketing is a very much effective tool and one of the best digital marketing strategies for sending emails.
- Online Advertisements – Online advertising is one of the effective advertisements rather than TV advertising. Online advertisement can be done country, state, region or pincode wise to reach a mass and targeted audiences. TV audiences are general and broadcasted to all at the same time. Online advertisement can also be said as online marketing. Commonly spoken as advertising over the internet, digital way or web advertising.
- Referrals – This is also commonly known as word of mouth. Referral marketing is company products or services getting promoted, through the existing customers to well known friends or relatives of his network. These kinds of referrals are fast influenced for the new businesses.
- Website – World Wide Web is the commonly known website, which is the collection of multiple web pages and the contents defined as per the company’s nature of business and products or services provided. Here most of the enquirer will try to visit company websites to know about the company and its establishment. Before approaching the company, customers want to know the products and compare with other companies products and services.
Efficiency of campaign
In digital advertisement, when we look for the campaign efficiency, the campaign is reaching the right targeted audience, place, right message being displayed. When all these aspects are playing successfully, then your campaign efficiency will be seen through the leads generated from those campaigns.
Stop struggling to know from where you have got the leads. Lead Management Software helps you to track lead sources to remove this worry. You can make your life easier by automating marketing programs – campaigns running and one can also track the results of those campaigns.
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Role of Leads
Leads play an important role in every organisation. With the help of this lead management software you can prioritize genuine leads. You can distribute the leads between the sales people according to their abilities. You can completely track the lead cycle from lead generation till closure. Search filters are also available to quickly search the leads. It saves a lot of time and efforts of the organisation.
Benefits of Lead Management Software
- Measures the ROI – ROI is a measure, how successful your lead generation efforts are happening. The leads are the prospective enquiries that the marketing team are working on various Digital marketing efforts. The Lead ROI is possible when your leads get converted into sales.
- Complete visibility to the status of leads – The lead status is a field where a source mentioning is useful for the Sales & Marketing team members. Leads are nurtured well and where the salesperson is using to provide the lead status to specify, what stage is the lead. This status of a record is providing the update to the reporting manager and salesperson.
- Shortened the sales cycle – Shortening of the Sales Cycle, by understanding the requirement and timeline of the customer or prospect on closure. Looping the Manager for the next call, detailing the case to the manager and then mapping out the whole process in advance, will help in shortening the sales cycle of the lead prospect. This is the process of managing a sales team by using best sales lead management software.
- Track the quality of leads – Lead quality means allowing managers and sales person, identify the prospects who are willing to procure the solution or not. There are various points to be checked for tracking the quality of your leads, right product is addressed, pricing part, product demonstrated and useful for the customer.
- Saves a lot of time – In the CRM, it will help to do the lead management, follow ups, quote preparation, splitting of your pending payment recovery, lot more things. Everything managed in one solution and collaborating with teammates on one platform. CRM implementation will save a lot of time.
- Sharper insights – Keeping a close eye on high-quality leads is a must: Lead Management software will allow you to do just that with advanced tracking capabilities. Follow along on the customer journey and get an unequaled perspective into the decision-making process. This data will not only help you to convert the leads that you are tracking but will also provide a blueprint for how to create a better customer journey for future leads.
- Efficient lead tracking – Keeping track of your leads can be a struggle in and of itself. Few things are as frustrating as losing a quality lead in the stumble. It might also be challenging to differentiate between leads that are more or less likely to convert. In this case, lead tracking from a Lead Management Solution will become extensively valuable. By closely tracking your leads, you will be able to optimize the experience for those leads which are closer to conversion making better use of your time and money.
- Real-time reporting – When leads are coming in rapidly through a campaign, knowing what is driving your leads is crucial to getting the most out of your investment. For instant updates, real-time reporting is a vital resource that lets you make changes on the fly depending on lead generation analytics. Knowing how numerous publishers are performing will let you quickly double down on successful channels and scale down less effective components.
Why is tracking necessary?
If you are tracking sales leads correctly then it will be a revenue generating opportunity for you. You can easily identify the customer’s interest and can work on it to fulfill his/ her requirements. With the help of a lead tracker you can separate important leads and general leads. Lead tracking software helps you to track, which leads should be followed and which should not. Each and every detail of leads will be at the fingertips of your sales team. It keeps you focused and organized on the sales process. You need the right solutions to meet your company’s needs. One can easily measure the ROI in a click. Sales managers can make smart decisions and can discuss sales lead reports in meetings. Tracking can help you to get details of each and every step of leads. In a click you can convert
Along with sales and marketing, branding, advertising the lead management to be made effective and through the process, generate new business leads and revenue, increasing the visibility digitally and improving or generating potential enquiries for better business growth.
Lead management system you will always need to track your lucrative lead sources. SalesBabu CRM will help you to streamline the lead management and also the entire sales cycle process.