Lead Management - A Modern Breakthrough In Business

“The only way of finding the limits of the possible is by going beyond them into the impossible”. This famous quote by Arthur C. Clarke proved to be true in its real sense and entirety. The reason is so simple. Man continues to evolve in his way of thinking towards the road of progress and development. Everything seems to be possible no matter what are the circumstances he meets along the way. These challenges can be transformed into something creative which will foster not only one’s personal growth, but most importantly, it will serve as a catalyst in a global scale. In our business sector for example, there were many theories and concepts that had been formulated to better the lives of the majority especially the underprivileged in a society. In other words, it is not just a matter of doing business and earning profits, but giving it an opportunity to make itself a world class commercial activity. In the world of Marketing and Sales, there is one approach that seems to be effective in terms of generating revenues for companies. It is called as “ Lead Management.” What does this mean? Lead Management is a term used to denote business methodologies, practices, systems geared towards income generation through new business clientele using different marketing techniques. It is a process which facilitates a business connection between its outgoing customers advertising, and their responses to the advertising itself. In addition, this concept is more of a business to business in nature, with a direct contact to its potential customers. Thus, this is a foundation of sales management, likewise, in customer relationship management. Other businessmen define this as “customer acquisition management.” Furthermore lead management is the originator of “trade management and customer relationship. This approach is divided into two components : Business to Business {B2B) or Direct to Customers. It is a process of converting and qualifying leads into customers. Lead Management has five major stages: 1. Capture New Leads – the procedure in getting leads quickly. This can be done through a website, a referral or marketing list. 2. Lead Distribution – this stage in particular employs sales agents to do the job. 3. Track / Disposition – the process which involves sending emails, calling possible clients by phone after the leads were received. 4. Convert / Nurture – It is not adequate to just have the leads be converted .but a businessman must learn how to make follow - ups with utmost diligence, It is a necessity to do this in order to establish a “ regular touch point” with prospects that are willing to buy. 5. Analysis of Results- this is the most essential among the five stages because it is a tool that gauges the effectiveness of the marketing and sales strategies that were previously employed to achieve a desired goal. The general principles of lead management create an ordered and systematic structure to be able to handle and manage volumes of business inquiries Therefore, it results in data organization, well-distribution of sales across its whole stages, going to a distributed sales force. A number of companies had tried this approach in their own businesses concluding therefore,that lead management is doable in any business venture provided that steps must be followed systematically in consonance with the right people nevertheless, combined with the proper work ethics of honesty, sincerity, creativity and perseverance To name a few we have the following : - American School of Aviation - Intel Network Systems - Apartment stores both Moving and Relocation - Internet websites Lead Management strategies have proven to be a herald in the business industry due to its positive impact to the global economic growth. Smart growth towards economic performance refers to a set of planning goals and policies which focuses on limiting outward expansion Also, smart growth made it possible for the government to save money through two different ways. First, saving by means of economies of scale. In this scheme, the marginal cost of serving additional population decreases as residents cluster in a given region. Second, the savings were generated through economies of geographic growth wherein the number of marginal cost of serving an additional person decreases as the individual locates closer to another infrastructure. To summarize, lead management is a strategy that must be adopted and tried by newly established companies of today in order to attract more customers in a much easier way notwithstanding the economic downturn in our midst. Lead Management must be further improved to benefit not only the economy as a whole but also, the ones who are responsible in making it-survive -. The human workforce.