Lead tracking can help ensure that sales teams don't lose track of potential customers.
Lead tracking is the process of identifying lead sources, monitoring where they are in the marketing and sales funnel, and identifying the appropriate actions to ensure the lead moves to the next stage to close the deal. Lead tracking software documents the steps in the sales process and tracks the number of times a sales rep has interacted with a potential client. In essence, lead tracking is the process of following a prospect who has expressed interest in a product or service through the sales pipeline.
Lead tracking helps make sales teams more effective by directing their focus away from leads that have little chance of converting so they can spend their efforts on the leads that have the best chance of becoming a sale. The software also helps marketing and sales teams work together to discover qualified potential leads and close more deals.
Lead tracking vs. lead scoring
If lead tracking pertains to following prospects who have expressed interest in a product or service, lead scoring is assigning a specific value to each lead based on information gathered about them. Lead scoring helps sales and marketing teams determine and prioritize qualified leads, often as part of a CRM system or sales force automation tool. Each time a lead interacts with a brand, it is given a score. The higher the score, the higher the potential and priority of the lead.
Lead tracking software
Lead tracking software makes lead tracking easier and less challenging. It comes with features such as automated capture that collect contact information from campaign respondents, lead routing that send leads to the appropriate rep’s inbox based on predetermined characteristics and categories, scheduling and tracking that monitors all previous activities like meetings and phone calls, reporting and analysis that track acquisition rates, close ratios, conversion statistics, and other metrics.
Benefits of lead tracking
Lead tracking has numerous benefits to businesses, such as:
Boosting sales productivity and customer satisfaction by enhancing a company’s ability to maintain all accounts
Providing insights into the effectiveness of a business’s marketing strategies and determining what works and what doesn't
Creating a better user experience for customers and audiences to enhance branding
Providing information on how leads were contacted and to customize the approach for each prospect to achieve a higher conversion rate
Stay up to date on the latest developments in Internet terminology with a free newsletter from Webopedia. Join to subscribe now.
From A3 to ZZZ we list 1,559 text message and online chat abbreviations to help you translate and understand today's texting lingo. Includes Top... Read More »Huge List of Computer Certifications
Have you heard about a computer certification program but can't figure out if it's right for you? Use this handy list to help you decide. Read More »
Computer architecture provides an introduction to system design basics for most computer science students. Read More »Network Fundamentals Study Guide
Networking fundamentals teaches the building blocks of modern network design. Learn different types of networks, concepts, architecture and... Read More »The Five Generations of Computers
Learn about each of the five generations of computers and major technology developments that have led to the computing devices that we use... Read More »