Lead management isn’t just about attracting multiple prospects into your pipeline. If your processes do not yield any tangible business results, you are simply wasting resources. Low returns signify that your methods are ineffective.
Depending on your goals, you can measure returns in various ways. It could mean higher revenues from conversions, more downloads, among others.
Regardless of your goals, your lead management efforts must bear fruit. So what can you do? This article shows you how to increase ROI on your lead management investments.
Make a Plan with Clear Business Objectives
What do you want to achieve from this process? The first step is to set clear goals for your lead management. You must also align these goals to your overall business goals.
Such direction would help you choose the best tactics along the way. It would also help you change focus from any tactic you notice is not producing the desired returns.
Optimize Landing Pages
Your landing pages are critical stepping stones towards the next level of customer journeys. So you must invest in high-converting ones.
Optimize your pages with great content that aligns with your lead generation messaging. Whereas statistically, they may not generate ALL your conversions, they point users in the right direction. With compelling text and media, they become more likely to purchase to take further steps.
You can increase ROI on lead management by transitioning to account-based marketing. Here, you focus on personalizing your efforts to specific businesses and their overall culture.
Statistically, marketing personalization increases purchase and loyalty. It builds stronger relationships with clients that other generic strategies cannot achieve. In so doing, your business can reap higher returns.
Creating consistent workflows helps your business engage effectively at every stage of the customer journey. That way, every customer receives relevant content at their level. Your business can leverage all opportunities such as remarketing, sales pitching, among others.
In so doing, such workflows ensure you never miss a lead. It also helps you remain consistent with them, which nurtures trust and increases purchase opportunities. Luckily, you can utilize automation tools to ease this process.
Increase lead management channels
You can increase ROI on lead management efforts by expanding lead generation, nurturing, and conversion channels. Using fewer channels can be cost-effective yet restrictive since you reach and nurture only a few leads at a time.
For example, different channels you can use for lead generation include:
Content marketing: Well-optimised content can attract potential leads to your pages. If the content is relevant, they could engage and move further down your pipeline. SEO is critical to driving such traffic as well.
Social media: Depending on your line of business, social media platforms can help you reach your target customers where they are. As you deliver the content they need, they could then visit your other key pages.
Digital ads: These can also be a quicker way to get eyeballs to your content or pages through tools like Google and Bing Ads.
For lead nurturing, some channels include:
Email: The most popular tool, mainly due to its effectiveness and avenues for personalization.
Social media: Social channels can also be a great way to remain in your leads' minds by regularly providing valuable content.
Remarketing/Retargeting: A great way to stay on their radar by providing relevant content nudges based on their previously expressed interest.
A variety of channels help you process as many promising leads as possible to maximize returns on investment.
Audit and Update Content: Regular content audits are essential to identify loopholes in campaigns. You can tell which tactics generate increasing ROI and which ones aren't. That way, you'll be able to adjust targets and strategies accordingly.
Updated content can help you increase the effectiveness of your campaigns and, as such, increase returns on investment in the long run.
Why should you focus on improving Lead Management?
Successful lead management could boost your business revenue. You need the right incentives and content to get the attention of your target audience. When well-nurtured, leads become more likely to become customers, which would bring increased sales and revenue.
Lead management helps you reach and deal with only the ideal audience and sales-ready leads. That way, you do not waste resources chasing the wrong crowd. Also, you can avoid spamming your contacts with irrelevant content.
Through lead management, marketing and sales teams can effectively communicate with leads. Lead management processes help them to understand customer needs and interests.
They would be able to have informed conversations that increase trust and boost conversions.
Improve productivity and maximize ROI
Lead management systems can help your marketing and sales teams to handle their tasks more efficiently. They can assign scores to prioritize the best leads. They can also easily transfer ready leads across departments for nurturing or conversion purposes—all these help increase conversion rates.
A lead management process enables you to automate your workflows. It becomes easier to map out the process and add automation features to improve efficiency and effectiveness.
For example, it provides avenues to plan for different leads behaviors and response steps.
Tracking and reporting
Lead management processes facilitate lead tracking and reporting, especially with automation tools. You can keep track of lead behavior results from all your tactics.
These gauge the effectiveness of your campaigns and thus give room for improvements along the way. They also help your teams to prioritize their activities.
Lead management becomes only an expense if you do not realize returns on your investment. The process comes with multiple benefits geared towards improving your bottom line.
Therefore, you must adopt proven strategies to help you get the best out of your lead management efforts and generate higher returns. Some best practices like those listed above can help.
A critical addition is the use of marketing automation. Such tools help tie together all your activities, making them more efficient and effective.