Online Marketing Strategies

What is Lead Management System in Marketing.

2024-06-27 | 145 Print Friendly Version of this pagePrint Get a PDF version of this webpagePDF

What is Lead Management System in Marketing? The Process and Facts.

Lead management is a process that is systematically created or designed to aid a marketer track prospective clients or leads and nurturing them with the sole goal of converting them into customers or end users, ie paying customers of a product or service.

If we are to take a definition from Wikipedia: Lead management is a set of methodologies, systems, and practices designed to generate new potential business clientele, generally operated through a variety of marketing campaigns or

Now that we have clarity of what lead management is we can now dive into the process of lead management systems for marketing.

Recommended Read: How To Generate Quality Leads For Your Business

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Most leads must have initially passed through the sales funnel stages of 1.) > Acquisition 2.) > Activation 3.) > Retention 4.) > Referral 5.) > Revenue with the last stage being the goal of a lead manager.

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Remarkably when it comes to the lead management process itself, we have different categories of leads, and they need to be treated in these stages as described in the image above, this process of lead identifying is called lead scoring.

One of the mistakes most marketers seem to do a lot is stage 3 of the lead management process, when a lead or prospect is classified as not interested in buying right now, they are subsequently forgotten and down the line are never solicited for other upsell or retargeting with remarketing strategies.

Recommended Read: What Is Remarketing: 8 Types Of Remarketing To Consider

This is why from experience I will significantly encourage digital marketers to either work their online marketing campaign around a team of sales marketers in order to be able to measure performance in terms of marketing performance with respect to leads cost acquisition ie the cost to actually get a lead that converts to sales, which is different from lead conversion cost.

Recommended Read: Difference Between Cost Per Lead and Cost Per Acquisition

The infographic below showcases a case study report about lead management survey and usage by different business models, you can read through to see the key factors that are lagging in the lead management system process and use that to your advantage in other to fine-tune your current lead management process in marketing, and if you don't have any lead management system or process in place you might want to start having a rethink about creating one.

You can decide to use automated crms for lead management or do it via excel sheets, as long as you update the process regularly and can be able to segment them for future sales pitches and marketing, it is fine.

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authors image profile

Olatunji Adetunji

I am a seo web analyst and have a love for anything online marketing. Have been able to perform researches using the built up internet marketing tool; seo web analyst as a case study and will be using the web marketing tool (platform).

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