What is Campaign and Lead Management Software ?
Campaign and Lead Management Software is vital aspect in helping businesses track and optimize the entire sales process. The word lead management refers to the process of managing and tracking prospective customers. Customer and lead management software also refers to contact management or customer acquisition management. Campaign and Lead Management Software is often linked to customer relationship management (CRM). In understanding Campaign and Lead Management Software, one has to understand the following terms; prospect – It refers to the person in your target market and demographic. Lead- It refers to the person who wants to learn more about solutions you offer still in your target demographic and market. Customer- It refers to the person who has purchased your solution. Campaign and Lead Management Software is an effective platform to the sales team. It is because it creates a pool of interested clients and then filtering out to the unqualified leads.
Campaign and Lead Management Software deals with the full history of a person’s experiences and interactions, therefore it provides you with an excellent platform for analyzing exactly the conversion of a person to a prospect, a lead and finally a client. Campaign and Lead Management Software is the foundation of successful sales operations. It means that for a successful customer relationship management and sales team an effective lead is required. Campaign and Lead Management Software concept comprises the first process in the sales cycle creating approved opportunities, and completely satisfying customers. Campaign and Lead Management Software provides a way for management of leads that assists enterprises to understand which move are capable of bringing in the perfect leads. With this, an enterprise can optimize its sales plans to be both efficient and effective. Campaign and Lead Management Software automates the sales processes. By automating sales processes it means demos, calls, meetings, and even revenues are looked at and make sure they are not falling through the cracks.
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What are the Features of Campaign and Lead Management Software
Campaign and Lead Management Software provides the following features; automated integrated marketing, smart routing, scheduling and tracking lead activities, analyzing and reporting, maximized security, lead scoring and real-time lead prioritization, lead automation, lead assignment, lead nurturing, lead segmentation, pipeline management and lead activities planning.
- Automated integrated marketing: It provides you with an excellent platform for tracking the performance of your strategies and identifying what is working and what is not.
- Smart routing: It enables you assign and route tasks to your sales staff and notify them instantly, therefore keeping tasks assigned to all your team members equally and increase the productivity time.
- Scheduling and tracking lead activities: It provides your sales team with an excellent platform for tracking their activities on the mobile app itself as well as scheduling of email communication for their contacts and ask for notifications and reminders regarding meetings and follow ups.
- Analyzing and reporting: It enables you analyze and track your entire business processes at ease and generate reports starting from conversion statistics to determination of marketing investment and ROI.
- Lead automation: It provides a system that can capture and forward leads to the CRM inbox from where automatic distribution and assignment takes place.
- Lead activities planning: It enables planning of leads which is vital in order to convert them into sales as well as following up calls and visits, therefore generating activity updates and analyzing your automatic sales reports.
- Lead capture: It provides you with an excellent platform of generating more data from people who are interested in the services and products you offer through use of lead forms placed at prominent positions in your website.
- Lead storage and distribution: It provides a database in which leads can be distributed and evaluated to the targeted employee within the enterprise based on your preferred method.
- Nurturing of leads: It provides tools that look into the status of leads and automatically proceeds with the process of following up with and delivering relevant content and following up to these leads, therefore maintains and strengthens the interaction until the lead is ready to purchase a product or service from the organization.
- Segmentation of leads: It enables you sort leads into various categories based on criteria like professional qualification, geography, industry or even job role, therefore targeting potential leads more effectively as the perfect service or product is sent to the right set of potential buyers.
- Pipeline management: It provides you with an excellent platform for tracking the status of potential leads or customers, therefore helping you understand the sales process as well as manage and assess of all sales opportunities throughout the sales cycle.
- Lead scoring: It refers to grading leads based on certain attributes that are most likely to lead to a sale by filtering leads according to demographic, job title, online behavior, and other variables.
What are the Key Performance Indicators (KPI's) of Campaign and Lead Management Software
The key performance indicators of Campaign and Lead Management Software are; revenue of sales, customer to lead ratio, organic traffic, value of customer, cost per lead, ROI based on inbound marketing, traffic to lead ratio (new contact rate), conversion rates of landing pages, conversion rates of social media traffic, mobile traffic, and conversion rates.
- Mobile traffic, conversion rates, and leads: It enables you know how your website is effectively optimized for mobile by paying attention to popular mobile devices, mobile devices’ bounce rates, number of lead conversions from mobile traffic, and mobile devices.
- Social media traffic and conversion rates: It enables you know the vital impact of social media on your marketing strategies that comprises of the percentage associated with traffic of social media channels, magnitude of lead conversions generated through each social media platforms, and magnitude of conversions on customers generated through social media.
- Organic conversion and traffic: It enables concentrate on inbound marketing by ensuring people find your website by themselves, therefore minimizing the effort you required for the cost of luring them to your site.
- Landing page conversion rates: It enables you ensure that your landing page generates leads no matter how much traffic it gets.
- Lead to customer ratio: It enables you calculate the lead conversion rate of qualified sales and lead conversion rate of accepted sales, therefore enabling you to know the number of leads your sales staff can convert to customers.
- Traffic to lead ratio: It enables you understand where traffic in your website is generated from, it can be direct or referrals.
- Inbound marketing ROI: It enables you set planning strategies and budgets that will make you see a return on your investment.
- Customer value: It enables you measure customer value, therefore helping you to be in touch with leads, reduce expected churn, expanding customer’s lifetime value, and keeping customers happy.
- Cost per lead: It enables you calculate the costs of getting a client either through inbound marketing or outbound marketing.
- Sales revenue: It enables you know the amount revenue achieved by inbound type of marketing process brought to your organization.
What are the Benefits of Campaign and Lead Management Software
Campaign and Lead Management Software provides the following benefits; disposition, importing leads, follow up, document generation and delivery, cross-sell, email templates, streamlined lead lifecycle, improved lead prioritization, organize your prospects, obtain more information from your leads and customer data capture.
- Customer data capture: It helps you in capturing a prospect’s complete history of interactions with the company and analyzing this data to understand how a prospect was converted to a customer.
- Improved lead prioritization: It helps you in increasing the efficiency and speed of conversions by identifying the leads that are most likely to lead to a sale by using system for evaluation of sales leads, and marketing staff.
- Streamlined lead cycle: It helps in automating the lead’s lifecycle and once they are captured, it prevents the leads from being assumed and making sure they are quickly followed up increasing the conversion rate.
- Importing leads: It helps you import leads through several methods that includes a new lead entry form, Web Post or through Excel spreadsheet.
- Disposition: It helps you assign pre-defined statuses that directly link to where they are in the sales life-cycle.
- Follow-up: It helps you to easily set call-backs and tasks by use of reminders as it is a vital step for a sales representative.
- Cross-sell: It provides you reps with an excellent platform for allowing them to transfer prospects through pre-defined industries from cross-sell opportunities.
- Document generation and delivery: It provides an excellent platform for assigning, generating, and delivering documents specific to the service or product being offered.
- Email templates: It helps you to easily set up pre-defined html email templates, therefore enabling sales to send emails based on status and also communicate directly from the system.
- Reports: It provides you with an excellent platform for viewing sales reports that measure sales performance and tracking of lead vendors and marketing campaign results.
- Obtain more information from your leads: It helps you fast-forward the conversion process along with the ability to better market to each lead with the help of more detailed data.
- Organize prospects: It helps you to easily identify the leads that are ready to be pursued with a serious proposition, therefore converting them into customers.
What are the Latest trends in Campaign and Lead Management Software
The latest trends in Campaign and Lead Management Software are; crowdsourcing, mobility, flexibility, centralized data, and cloud-based.
- Cloud-based: It means it will be cost-efficient in gathering customer data.
- Centralized data: The main aim of this is understanding customers through extensive data collection and analysis.
- Mobility: It will enable customers access data on the go rather than being bound to their PC.
- Flexibility: It will allow businesses to customize the software to meet their needs.
- Crowdsourcing: It will enable businesses tap their current customers for solutions, fresh ideas, and expectations that can be useful to employees in providing innovative and interactive relationship that grows a number customers expected.
How to choose the right Campaign and Lead Management Software
The several Campaign and Lead Management Software present in the market can be overwhelming when it comes in purchasing one. The following are what to consider when picking and purchasing Campaign and Lead Management Software;
- Purpose of implementing lead management software: It should either be for increasing sales, increasing number of yields, and analytics.
- Mold to your business: The Campaign and Lead Management Software should be flexible enough to adapt to your existing business process
- Capture leads from all your major leads: Its main objective should be capturing leads automatically.