Lead vs Prospect vs Opportunity – Why lead Management is Important?
In order to boost your returns, the marketing and sales teams need to work together. They need to identify customer interests, preferences, and needs and look for opportunities to satisfy them.
There are three important terms that you need to define: lean, prospect, and opportunities. Once you establish a perfect relationship between them, it becomes easier to deliver the most efficient solutions.
The article below can help you understand these terms and their importance for your business:
A lead includes any business or person who may become a potential client in the near future, butare not yet qualified. Leads are placed on the top of the business sales funnel. It is possible to find sales via many different channels; the list includes purchase lists, customer referrals, lead forms, inbound advertising, webinar signups, and e-book downloads as well.
Sales prospects are placed one step below the funnel. They are basically the businesses or people that are qualified irrespective of whether they show any interest in your niche or not. The prospects usually fit the target market of the business, and they also have enough money to initiate purchases.
Here is a favorable juncture that shows a great opportunity for progressing the sales event. Once your prospects decide to use your services or product and are ready to make a purchase, they are better defined as an opportunity. Businesses need to make efforts to turn these opportunities into potential sales.
Why is Lead Management Important?
The entire sales process starts from lead generation; hence sales and marketing teams need to understand the importance of lead management. Studies reveal that almost 80% of the leads generated via the marketing process get discarded, ignored, or lost. And it poses great harm to the overall revenue. That is why experts suggest using a lead management system to nurture the leads over time.
ADOHM platform has launched an advanced CRM system that can help you to organize your leads well. These software tools categorize leads into different categories based on a media channel, geography, engagement period, and behavioral traits.
Consumers need a rapid response from businesses to make purchase decisions. If you don’t have a proper lead management system, the requests may get delayed, and the annoyed customers may move to some other platform. The latest CRM software tools help to schedule automated responses during off-hours as well as during peak times.
In case if you are targeting customers from multiple territories, the lead management software can help you to organize all leads either via product line, chronologically, or geographically. The distribution process may also help to optimize the efficiency of the sales team while reducing the risk of dead ends. With the advanced software tools, it becomes easier to position all the leads in the sales pipeline on a real-time basis. It can ensure returns in the long run while establishing solid relationships with interested customers. In order to avail of all these amazing benefits, businesses need to develop a solid strategy for lead management with ADOHM software solutions.