What is Prospect Management

What is Prospect Management? When mining the business landscape for those crucial leads, it’s essential that everyone from sales reps to upper management be familiar with prospect tracking. Prospect tracking is an automated method of maintaining files on prospective customers. It offers the sales-oriented organization a way to track prospects by territory, grade, type of business, contact name, as well as other criteria. Prospect tracking also provides a “tickler” file for future contact dates and notes. These options can be used for common administrative tasks such as generating mailing labels and personalized letters. Prospect tracking will enable your sales team to approach new prospects in an organized and proactive way, letting them to achieve your company’s sales objectives easily and costeffectively. Prospect tracking is a powerful and useful tool both for commercial prospecting (also called contact management, teleprospecting, lead management, lead tracking, or sales lead management) and for maintaining excellent relationships with existing customers through targeted and timely follow-up. A well-designed prospect tracking system gives you access to every piece of information related to your prospects and customers at the click of your mouse. Not only can you manage prospect and customer contact information with prospect tracking, you can also manage correspondence such as letters, emails, instant messages, tasks, and appointments. Prospect tracking also lets you:  Never lose another valuable sales lead or prospect  Amalgamate the lead flow pipeline – from initial contact to finished sale  Improve the response time to prospect and customer queries  Increase your sales force’s lead conversion rates  Increase the value of your company’s marketing budget  Standardize lead qualification metrics  Create separate tracking processes for different target groups  Identify records via hierarchy key words  Personalize your database fields  Perform powerful database functions such as search, sort, import, export, statistics function, mail merge and bulk email