Data such as lead profile, sales response, value of closed sale, etc. can be collected, analyzed, and used to support business decisions. Business intelligence can be extracted from lead management software, in which case it can be considered a tool for both sales and marketing operations of any company.
A customized lead management system goes above and beyond what a CRM can accomplish on its own. Based on the specific operations of a business, lead workflows are streamlined so that response time is optimal. Also, lead sorting and data collection tasks are kept at a minimum.
Types of Lead Management Systems
There are two types of lead management systems: 1) Rule-based and 2) AI-based. Both can act as stand-alone programs and can be integrated into a CRM system network. Through direct integration, lead management software enhances what CRM tools attempt to do.
1. Rule-Based Lead Management System
Rule-based is used to assign sales leads based on a set of rules that have been clearly defined. This will include things such as availability, territory, customer deal size, workload, product, or niche expertise. The benefit of the rule-based lead management system is the simplicity and conciseness of the lead workflows once logic is applied. However, any sales and marketing manager is aware that change is constant. Lead workflow rules may be required to be updated based on future strategies and economic conditions.
2. Artificial Intelligence (AI) Lead Management System
An AI-based management system also distributes sales leads to the best sales rep, but with the added benefit of continuously improving over time. With the ability to extract insights, the lead management system can use historical data for behavioural prediction to better determine which sales representative is most likely to respond and close the sale successfully.
Systems for Partner Lead Management
Partner lead management differs from inside sales management as partners are not full-time employees, and thus are not under the control and direction of the selling company.
Instead, as an indirect salesforce, partners can be influenced by the supplying company. One way a company can achieve this is by conveniently providing partners with sales opportunities.
AI Partner Lead Management Software
Distributing leads can be streamlined using partner lead management software. These platforms capture and direct leads to the sales reps and partners that are the most qualified to deal with them, instantly.
This type of software is helpful for businesses with a distributed sales force, which communicate lead data to partners. It is purpose-built for lead management and ideal for partners and value-added resellers. The partner lead management platforms funnel potential leads to sales partners by looking at their expertise, competency, location, and other important features.
Managing leads for sales reps and partners is critical for all company owners and department leaders. Help your brand stand out with effective response to potential clients with our leading AI-based lead management platform that can also enhance your CRM software.
Companies that use partner lead management software also has access to its data via its dashboard analytics to assess sales teams and partner performance as well as marketing campaign strategies. They make data-backed strategic business decisions to continuously improve their lead workflow operations.
To equip their sales teams with the best chance of closing sales successfully, the automotive industry implements effective partner lead management strategies.