Communications and Analytics

The central hub of the lead management software process once the prior architectures are in place is communication. Effective lead management principles require intensive and accurate high-level communication, both internally within organizations, and externally to the lead inquiries. For any insurance crm software, accurate communication is most important tool of any insurance software.

Communications functions should include intelligent sourcing of inquiry information, and provide appropriate vehicles for overt contacting methods such as phone, email, or other communication forms. In addition to overt communication methods, technologies now also now provide marketing systems the ability to do extensive lead nurturing activities through automation systems, which often include opt-in email listings, automated telephone dialing systems, or hard copy mailing lists to increase visibility, touch on customer need, and increase brand visibility. In many cases, especially where inquiries may not be ready to work with businesses immediately, it is crucial to maintain ongoing nurturing communications that cultivate a lead into future sales, and effective lead management practices include these methods. We can take example of blinds company who are selling vertical blinds and roman shades product online, for them ongoing communication with the clients and their manufacturing department is most important.

Analytics
The analytics architecture is the last, and once the other architectures are in place, the most critical piece of an effective lead management system. This portion of the architecture allows for the dynamic review and analysis of lead actions, marketing channels, and sales performance.
For many organizations this information can be vital in assisting management teams make decisions that improve production, return on investment, and the overall performance and cost benefits of their marketing and sales strategies.

Ref: wikipedia

Marketing & Sales Process Operations

Once the lead information is collected and distributed, it is then transferred to a marketing and/or sales management department, who will continue to implement lead management practices in pursuit of completion of a sale. Established lead management practices should provide the needed connectivity and accountability between those two operational units, and when managed properly, enhances the effectiveness of both operations.

The architectural relationship is much akin to the order carousel in a short order diner. This carousel is the communication and accountability between the waiter and the cook. Without this simple coordination orders would be lost, prepared incorrectly, or prepared in random order missing the expectations of the customer.

For management teams with a solid foundation in lead management principles, the process should create increased efficiency and accountability between marketing and sales activities. As stated previously, the increasing technological foundation of lead and sales management practices provides a number of "closed loop" data circuits, tracking the overall effectiveness of everything from lead generation, to prioritization, to distribution, to final disposition, and then back again to re-calibrate the process.

For marketing, this portion of the architecture primarily manages the analytics of the lead generation, distribution, and disposition. For sales, the architecture provides a fast, accurate
method of distribution, in addition to improved management and accountability processes for sales activity.

Ref: Wikipedia

Lead Acquisition and Distribution

Lead acquisition is the first, and possibly the most critical potential disconnect in the lead management process. With billions being spent on advertising expenditures, in many cases the value of those expenditures is reduced because relevant information from responses is not collected or distributed. The value of this process is tightly linked to a variety of consumer response theories that highlight the relevance and responsiveness of the customer experience as being key ingredients in turning potential customers into actual customers. Once acquired, the speed, accuracy, and relevance of response can greatly influence a potential consumer's decision to buy, or not buy a product or service. I talked with the owner of blinds company who are selling vertical blinds, roman shades and faux wood blinds online. He says that lead management and lead management tools are most important part of their marketing budget.

One extremely relevant example of this process is the use of the Internet, online marketing, and Web analytics for high-level lead generation. A consumer generally uses the Internet and makes Internet inquiries for products and services out of a desire for convenience and efficiency of their time. Consequently, they expect a timely, relevant response to inquiries made. An alternative to the time consuming research involved in cultivating a good lead, unique resources such as Sales-Fax News have taken this burden upon themselves to find and report on leads for advertising sales.

Ref: wikipedia

Optimizing Lead Management

As larger vendors work with partner organizations such as distributors (see distribution (business)), resellers, brokers and other channel partners, those vendors often distribute leads to their respective partners to provide a local contact to those prospects and also 'feed' partners with new business opportunities. Today there are two major methods for distributing sales leads to partners: Push or Pull.

PUSH The push method sends leads to specific partners assuming that those partners will follow up and work on those leads. The challenge with 'push' is the fact that often the local sales people may not be able to react immediately for various reasons: not available, busy, on vacation... Many large vendors report disappointment when asked about their lead follow-up rate through partners after the leads where pushed out to those partners.

Pull The pull method was invented and patented by a German Engineer, Axel Schultze, who was frustrated with the lead follow up results of the push method and decided to let the available and motivated sales people 'pull' leads from an online available system. Patent was granted by the US Patent Office in May 2006. The pull method became widely accepted in the high tech industry where thousands of resellers from companies including Avaya, Nortel, Juniper and others distributed leads that way. The PULL Method became superior over the PUSH method, and lead closure rates grew on average by 300% as white papers from BlueRoads indicate.

Ref: Wikipedia