Lead Management is a term used in general business practice to describe methodologies, systems, and practices designed to generate new potential business clientele, generally operated through a variety of marketing techniques. Lead management facilitates a business's connection between its outgoing consumer advertising and the responses to that advertising. These processes are designed for business-to-business and direct-to-consumer strategies. Lead management is in many cases a precursor to sales management and customer relationship management. This critical connectivity facilitates business profitability through the acquisition of new customers, selling to existing customers, and creating a market brand. This process has also accurately been referred to as customer acquisition management.
The general principles of lead management create an ordered structure for managing volumes of business inquiries, frequently termed leads. The process creates an architecture for organization of data, distributed across the various stages of a sales process, and across a distributed sales force. With the advent of the Internet and other information systems technologies, this process has rapidly become technology-centric, as businesses practicing lead management techniques have shifted much of the prior manual workload to automation systems, though personal interaction with lead inquiries is still vital to success.
Along with its other related business practices--marketing, brand development, advertising, and sales--the goal of an effective lead management initiative is to generate new business revenue, increase visibility, and improve the general attitudes of potential clients and the public at large for future business development.
A typical outline of a lead management process might follow the following steps:
- Business engages in a range of advertising media (Lead generation).
- Recipients of advertising respond, creating a Customer inquiry, or lead.
- Respondent's information is captured (Inquiry Capture).
- Captured information is then filtered to determine validity (Inquiry filtering)
- The filtered leads are then graded and prioritized for potential (Lead grading)
- Leads are then distributed to marketing and/or sales personnel (Lead distribution).
- Leads are contacted for prospecting (Sales contact).
- Contacted and uncontacted leads are entered into personal and automated follow-up processes (Lead nurturing).
- End result is a new business sale (Sales result).
While simple in scope, lead (or inquiry) flow process can become complex as clients, prospective clients, and sales professionals interact. Interactions and subsequent actions create a variety of potential outcomes, both productive and counter-productive to business development. This ever-increasing number of scenarios creates functional disconnects, in other words, critical opportunities to mishandle an inquiry that reduces or destroys its potential value. Appropriate management of these scenarios is the function of lead management.
Read more about Lead Management: Optimizing Lead Management
Other articles related to "lead management, leads, management":
... today has to keep track of all inquiries and sales leads that are generated ... There are numerous sources from where different leads are generated ... difficult to manage inquiry and tracking of those leads and most importantly to know the conversion from the source of various sales leads ...
... Customer acquisition management is the set of methodologies and systems to manage customer prospects and inquiries generated by a variety of marketing techniques ... between advertising and customer relationship management ... Customer acquisition management has many similarities to lead management ...
Famous quotes containing the words management and/or lead:
“No officer should be required or permitted to take part in the management of political organizations, caucuses, conventions, or election campaigns. Their right to vote and to express their views on public questions, either orally or through the press, is not denied, provided it does not interfere with the discharge of their official duties. No assessment for political purposes on officers or subordinates should be allowed.”
—Rutherford Birchard Hayes (18221893)
“Well, the wedding is over, the good folks are joined for better for worsea shocking clause that!tis preparing one to lead a long journey, and to know the path is not altogether strewed with roses.”
—Frances Burney (17521840)