Richard, a sales manager for a well-known company, realized that his organization was generating a large number of leads, but the conversion rate was very low. What could be the reason?
The leads you get determine how much revenue you can generate for your business. And, if you find that your conversion rate is not up to par, it could be a sign that:
There are no quality leads in your sales pipeline.
You find it difficult to close all the threads.
You’re not tracking lead engagement and uae phone number data taking the appropriate actions to win deals that are about to close.
So, what is the best remedy to this problem? An effective lead management strategy is important for all businesses to achieve their sales goals. If you follow it step by step, it can help you solve your conversion challenges. Let’s see how.
Lead Management
Lead management is the process of performance marketing trends for 2024 managing all the leads in the sales cycle, handling different customer touch points and turning them into loyal customers with excellent engagement. Only a portion of the leads you generate can be closed. The point is to understand which leads are most likely to become customers and take action.
Now, you can leverage AI to automate your lead management strategy, making it more seamless and convenient.
So, what are the core steps involved in lead management?
Let us understand how to
complete these steps using AI-enabled tools or software.
How to use AI to improve your lead management process
As we have discussed previously in our Artificial Intelligence (AI) blog series, the benefits of AI in automating and streamlining business activities are immense. It helps businesses develop competent teams by improving efficiency and business sale lead productivity.
So, how can we use AI to generate, track, qualify, and route leads? Let’s understand:
Generate and track leads using AI
Traditional methods of lead generation seem difficult. Cold calling, attending trade shows, hosting meetings, etc., can take up a lot of time for sales and marketing teams to build contact lists. However, using AI in lead generation makes it very easy.
AI has the ability to capture leads in bulk from multiple sources like website, email, social media, etc. in a shorter time. Once the leads reach the representatives, it can also guide them to contact the respective prospects at the right time. Moreover, it also tracks customer sentiment by monitoring the conversations and provides insights on the quality of the calls.
AI not only helps you generate leads,
but it also provides valuable insights from the data collected. One can use this data to predict future sales or make data-driven decisions that can positively impact your business.