In today’s frenzied business environment it’s very easy to fall into a habit of spending all your sales effort in closing short term leads. When this occurs it’s easy to not put the required time and effort into managing sales leads that are not ready to close. Adopting a process to develop and nurture leads is vitally important to your pipeline and ultimately your business. In addition by having an accurate way of tracking leads that are not ready to buy can reap greater return on your marketing efforts. This is one of the major reasons for using a CRM application like Microsoft Dynamics CRM.
Lead Management with MS Dynamics CRM
A lead is an unqualified business opportunity, I sometimes call them suspects. They fit a certain business criteria that makes them a good fit for your product or service. Sales representatives need to qualify or disqualify these leads. Because leads are usually not intended for long term use, most of the data about the contact and company resides in a single record. Sales reps can group these leads together in many ways by creating marketing lists. From these lists many types of marketing and sales campaigns can be launched and managed.
By tracking the activities initiated on each lead a sales rep can accurately control how often and in what way a lead is stayed contacted. Once a lead (suspect) has been qualified as a potential sale, the information collected in the lead record along with any and all activities related to the lead is pushed out to other areas within CRM such as an active sales opportunity. Throughout this process information on these leads can be reported, which helps management track the activities of sales and marketing. It also provides management with an accurate view of what is in the pipeline and when deals will close. Once a process is established in the CRM sales reps can be held accountable for ongoing follow up of the leads until they are qualified and promoted from a suspect to a solid opportunity. By using Microsoft Dynamics, a sales rep or marketing person can be sure that these longer term potential sales do not fall through the cracks as they continue to close the shorter term business opportunities. Because marketing can initiate a continual stream of information to these leads and sales reps can stay in touch as well, sales efficiency is improved and deals that once got away can be closed resulting in increased revenue.
Although Microsoft Dynamics CRM is ideal tracking leads, not every business requires the same functionality from the solution, because all companies are different and have unique needs. This is why first-time adopters of the CRM system should contact Beringer Associates to achieve a successful implementation from day one.
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