What Lead Management Aims to Do in Marketing By Art Gib Lead management is somewhat of a ubiquitous term. There is no one set of management rules for any business because each business has their own terms, product, services etc. You can set up some basic structure on what it does and what the intended mission for a lead management campaign. One thing that lead management does is formulate and monitor the process that first brings in hopeful buyers or investors. Basically it's the process of converting the interested inquirer into a paying customer. It involves first the generation of the lead to bring the hopeful customer in, which is done by various advertising techniques, whether it is a billboard on a freeway or a banner ad on our favorite blog for example. Lead acquisition is probably the most important part of the lead management campaign. This is where the most money on advertising is spent, just to lure people and companies to investigate in what the company does. Knowing the target of whom and what you are marketing to is in direct relationship to the money spent advertising. For instance, shot-gunning a message into cyberspace is much more expensive that picking and choosing sites that are in the same realm as your service and setting up affiliate links for their advertising banner pages. Getting interested parties is relatively easy given the money poured into advertising. However, the bulk of those who are looking into the goods or service are those who are "kicking tires," people who may or may not care too much about what is being sold. The hardest part is finding those who are in more need of what you sell. That is where market analyzing software comes in handy. Tracking a Mortgage Lead Management Marketing Process For the most part lead management software is essential for a market like the mortgage industry. In this instance the brief will look at how a mortgage business can manage leads with online management software. A business that is using an online lead management software can store, sort and send emails and reminders to keep salespeople on the ball converting interested parties into paying customers. Mortgage salespeople can use the software about potential buyers that stores important information like their spending loan amount, what geographic location they are looking for, when they are available to be contacted. For instance, with mortgage lead management software, when the lead closes the salesperson can easily convert the data to loan origination software or other software to store and further develop the customer relationship.
The basic thrust of this lead management is to take the leads, distribute them to the sales force appropriately, track those leads, analyze the effectiveness of the sales, and ultimately convert the prospect to a full paid customer.