What is lead management? Definition, strategies and processes in B2B marketing
Generating interest, acquiring new customers, expanding existing customers, modern lead management requires a targeted strategy in order to generate more leads and develop them until they are ready for sales. The implementation of lead management, marketing automation, buyer persona and content marketing is important for companies. But what is lead management anyway?
Definition of lead management
The term lead management includes all processes and measures that are defined and implemented for the strategic generation of interest among target group and the conversion of them to customers. These processes can affect sales, marketing and IT across departments. A successful lead management strategy not only increases the number of leads, the company's internal resources can also be used more efficiently. A modern lead management makes use of technical tools that enable the automation of the processes and make the results measurable. The aim should be to bring together all data sources from sales and marketing and thus to obtain an overall picture of the customer in real time, among other things to identify sales potential (keyword cross-sales).
Why lead management?
With successful lead management you can:
Generate more leads
Turn prospects into real customers
Develop interested prospects until they are ready to buy
To make your marketing activities more transparent and to make a measurable contribution to the company's success
Modern lead management
Historically, the form of lead generation has changed significantly. In the past, outbound activities, especially cold calling, with classic offline channels such as mail, advertisements or TV and cinema advertising were increasingly used, but with the transition to the digital age, these have become increasingly unimportant because they have become less effective. These forms of acquisition were often perceived as annoying and involved a high level of wastage. The target group could not be persuaded to make a purchase decision at the right time or in the right places.
With the possibilities of a modern lead management strategy and the predominant use of online media, prospects can be picked up where they are with the use of technical aids and converted to customers through the use of targeted marketing strategies . Successful lead management is roughly composed of the following elements:
Processes coordinated with one another, which serve to generate a interest among target group and accompany them through to the purchase. These require structured approaches in marketing and sales.
Tailored content is indispensable, because: Only B2B companies that really have something to say are considered. When communicating with prospects, relevant information must be conveyed. A call-to-action, which should not be missing in any communication, is essential.
Modern tools facilitate customer acquisition. Suitable software provides valuable assistance. It supports the process implementation, planning and implementation of campaigns.
For the development of B2B leads, the idea of the sales funnel has been established, with which the procurement process is represented in several stages. At each stage, content leading to the goal must have a positive influence on the buyers decision.
Which companies benefit from competent lead management?
As already stated above, lead management is primarily about the efficient acquisition of prospects, who are to become the best possible customers in a timely manner. The methods are therefore particularly suitable for companies that want to grow faster than their competitors or are active in industries with growth potential. Suppose you are marketing products or services in the B2B area that require a lot of explanation and require more time to make decisions from potential buyers. Here, strategically designed lead management makes a valuable contribution to sales and marketing. The number of new leads generated each month is generally decisive for the decision to implement your own system. Experts consider an in-house lead management system to be a worthwhile investment as soon as your database contains around 5,000 leads . But smaller companies also benefit from a systematic approach to interested parties.
From outbound marketing to inbound marketing
Lead management in the B2B area leads to contacts on various levels. Here, too, many decisions are influenced by the Internet. Many potential customers have already obtained information about the company offering before contact has even been made. This takes place, for example, on the company's own website, social media channels or rating portals. It is all the more important as a company to be easy to find on the Internet and to provide attractive content. This is the only way to get prospects to take a closer look at your offer and perceive you as an expert.
This strategy, which is closely linked to content marketing, changes the approach, away from outbound marketing and towards inbound marketing. The potential customer finds their way to the company through appealing content themselves, instead of being contacted directly by the company first. Just as important as in outbound marketing is the definition of the target group and the targeted preparation of the content. Various online channels and forms are available to promote the generation and qualification of leads quickly. This can be, among other things:
Informative and advanced landing pages
Search engine marketing