At the Junction of Customer Relationship Management and Lead Generation – Part One
Leads make the business world go round.
Leads infuse fresh blood and enthusiasm into a business and get all involved excited.
CRM is an integral aspect of digital marketing,
and online commerce platforms for small businesses offer integrated analytics.
This is an opportunity to synchronize this data with legacy data already available in the existing CRM
and put in place a robust leads and sales management system.
Smart use of CRM will allow you to generate
and manage leads to generate a steady stream of revenue by taking care of the sales pipeline.
In fact, the sales pipeline is at the heart of the entire process.
It allows you to stay organized, give precedence to leads, and then track how the leads are faring.
It is vital that the sales pipeline is full, especially at the top so that the pipeline keeps moving forward.
The sales pipeline has to mirror the sales cycle; otherwise,
you may be forced to put even good leads in cold storage and wait till the time is right to act on them.
However, the lead may no longer be that great a choice when you approach it again.
The concept behind creating a sales pipeline is simple to understand
and holds just as much value for a small business as it does for an MNC.
Information used to qualify prospects includes the chances of closing a sale,
the time taken to convert a lead into a sale, costs involved in converting a lead into a sale.
Lead generation works smoothly when you categorize the leads to make follow-up easier.
With a process in place, you can utilize your CRM to automate much of the work.
Knowledge of the kind of information they seek will make it easier for you to supply the information,
very often on autopilot.
Lead nurturing requires both,
the sharing of standard information and personal touches that you impart to your communication.
Personalizing communication can take time and can be executed only if you have the necessary information on hand.
However, with the information at your disposal,
you can create bespoke messages to move the recipient further up the sales chain.
The entire effort is directed towards getting ahead of competitors who are not on the lead generation bandwagon.
A robust CRM system will allow you to place all the information about the leads in one digital location.
In the next article, we shall see how to select the right lead management system.
Until Next Time