Posted on December 27th, 2012, 22:18
Technological innovations over the years has given information technology a strong foothold in the enterprise and plays a major role in the operations. This has also brought in a total makeover of the marketing function of these enterprises leading to global enterprises. Further, with the growth of e-commerce, most of the enterprises head for a strong web presence demanding marketing function in a faster format. E-commerce and Internet has greatly helped enterprises in spreading the news about products and services worldwide without actually crossing the geographical boundaries.
Consumers who are interested in the products are the potential customers or leads for the enterprise. These leads form the heart and soul of every marketing strategy and the success of marketing is dependent on the efficient lead management. As defined by Wikipedia, Lead Management refers to “the general business practice that describes methodologies, systems, and practices designed to generate new potential business clientele, generally operated through a variety of marketing techniques.” The process of lead management is designed to facilitate a business's connection between its outgoing consumer advertising and the responses to that advertising and can be used for both B2B as well as B2C markets.
Similar to business practices such as marketing, brand development, advertising, and sales, an effective lead management initiative will help enterprises to generate new business revenue, increase visibility, and improve the general attitudes of potential clients and the public at large leading to future business development. In other words, lead management is a critical factor for business profitability through the acquisition of new customers, selling to existing customers as well as creating a brand and is considered a precursor to sales management and customer relationship management.
With the help of an ordered structure this process helps enterprises manage large volumes of business inquiries or leads. The process thus creates an architecture for organizing data that is distributed across the sales process and sales force. However, with the advent of technological enhancements, lead management has become techno-centric with enterprises making use of marketing automation tool for automated lead management systems.
A typical lead management process will include lead
generation by engaging business through advertising media and
recipients responding to advertisements, capturing information and filtering
the same, distributing leads to marketing personnel and lead nurturing through
personal and automated follow-up process before they actually sign u the
business sales. Leading service providers offer enterprises marketing automation software that facilitate lead nurturing through automated campaigns.
This builds on the email marketing strategies and takes the marketing to next
level thereby saving the resources while producing greater results. These
powerful lead management solutions enables lead generation through unmatched lead
insights from data mining and business intelligence leading to improved
performance, optimized cost and increased ROI.