What Do You Mean by Lead Management?

Updated: April 12, 2010

So, what exactly is lead management? In short, it's the PROCESS of receiving, qualifying, routing, and closing sales leads. Companies looking to develop and implement a holistic lead management practice must include the following elements to ensure a fully developed process:

  • Data: Marketing and sales data should be appropriately segmented. Data should be managed effectively to ensure integrity.
  • Lead Planning: Questions such as "How many responses, leads and qualified leads are needed from marketing in order to allow sales to meet their revenue goals?" should be asked, answered and documented.
  • Lead Qualification: A written definition of a qualified lead should be developed. And marketing and sales should come to agreement with this definition, as well as other terms used in the lead management practice.
  • Lead Routing: Process mapping to determine how qualified leads will be routed to sales and how sales will send not-ready-to-buy leads back to marketing must be developed.
  • Lead Scoring: A numerical ranking system must be developed to aid in determining the point at which leads will be sent to sales.
  • Lead Nurturing: A documented plan for all leads that don't immediately go to sales must be enacted. This included processes for what will be done at both the marketing and sales level to engage and build a relationship with prospects and customers.
  • Metrics: Determine what to measure and why it should be measured. From there, implement a plan on how to utilize these metrics for shaping future marketing and sales planning.
  • Automation: All of the above should be automated as much as possible to ensure there are no cracks in the process.
Featured Research
  • Eight Ways You Should Be Using Contact Center Reporting

    Every day, your contact center collects critical data that can be used to drive strategic improvements to your efforts in the future. But that data is meaningless if you don’t know how to access and analyze it. The key to do doing both is using reporting features. By understanding how to use reporting tools, you will gain much greater insight from the data you are collecting. more

  • Is Your Phone System Stealing Profits?

    Having the wrong phone system can dramatically cut into your profits. Despite this, many businesses just sign up for a plan or platform that seems ‘good enough’. If you haven’t carefully considered your options and the included features, there’s a very good chance that you are leaving money on the table in some way. more

  • Best Video Conferencing Features for Business

    Most businesses are currently underutilizing their video conferencing software because they aren’t aware of the different ways it can be used. Understanding the different features of video conferencing software can be critical to getting the most out of your investment. These features often vary from one option to the next as well, so it's important to do your homework before choosing a specific service. more

  • Phone System Technology Showdown

    VoIP and IP telephony are often misconstrued as being the same type of phone system, but the truth is they operate on different technology and deployment methods. This guide will explain the differences between VoIP and IP, go into the pros and cons of both VoIP and IP-PBX, and give insight into which type of phone system will benefit your business the most. more

  • 8 Ways the Cloud is Changing ERP for the Better

    What if there was a tool available that allowed for you to save up to a quarter of your operational costs? Studies have shown that Enterprise Resource Planning (ERP) solutions enable businesses to access accurate, real-time information about daily operations which allow for the reduction of operational costs of up to 23% and administrative costs of up to 22%. more