It’s a problem when leads are scarce. But the situation can also be quickly reversed, overwhelming you with high lead volume. Most highly appealing products and services are known to receive a large amount of interrupted inquiries. This is applicable for organizations such as Real Estate, Hedge Funds, Insurance etc.
With increasing volume of leads, there also comes increasing competition. And when the majority portion of high volume leads are casual inquiries or illegitimate contact, following false inquiries could cost you true leads. In these circumstances, your competitor could reach your leads faster than you, driving a better conversion ratio.
When you face a deluge of inquiries, you need to selectively filter and proceed with a limited set of leads. In practicality, the clock starts ticking from the moment you receive your inquiry. If you don’t respond to an inquiry early enough, your competitor would respond and could potentially convert in a matter of days if not weeks.
You need to practically have a farmer’s approach towards cultivating your leads; you need to decide which leads are worthy of further preservation and processing, with eliminating false calls at the earliest. One needs to shift and select leads to make maximum impact.
Here, one cannot take and process every lead on its face value. You need to understand, validate and manage leads through a single window.
Rather than take liberal leaps of intuition for managing each client, the CRM allows you to follow consistent steps for managing each client. This may include Pre-Processing and Post-Processing for each lead.
Pre-Processing of Lead
This is the first step for an incoming lead. The request gets registered on your dashboard, but you are yet to follow through with consequent steps to process those leads.
These are important steps to decide on the future of a lead.
Streamlining Leads: –
Here, all leads are getting simultaneously streamlined on a unified dashboard. You can prioritize and segment each lead based on its chances of conversion. This lets you review and compare each request, allowing you to select only relevant requests.
Reviewing Budget Constraint: –
As lengthy processing channels are chiefly applicable for high investment purchases, reviewing customer budget ensures that your lead is eligible to be considered as a prospect.
Sharing Opinion and Activities: –
Sharing of opinion is a major step in proceeding with individual leads. Once you are able to obtain answers to all the questions, you will be able to share opinions on all important questions.
After choosing the primary prospects, you can start reviewing and managing leads in their final stages of conversion. Among these, you need to select and reject some leads to manage the rest.
While the initial sales engagement, you have selected leads that could be possibly worthy of your attention. This allows you to shift your entire lead volume and collected leads that are worthy of conversion. This lets you manage only a selected number of leads.
Manage Tasks and Conversations:-
When a lead raises a new enquiry, the time-window before passing over stands in between 25-45 minutes. When mulled through the bulk of emails and conversations, the speed of response could get slower. With accurate task management and task overview, you can simulate to decrease the prescribed time window.
Allocate Meetings and Cut-down Client List:-
Even if they are prospects, a long unwinding list is an instant damper for confidence. With having an overview of prospect list, you can cut-down on non-intended client list, with limiting the number of meetings.