Lead Response Management is a quickly growing field in the sales industry. It encompasses various others fields within the sales industry and, when properly put into action, it has the capacity to improve sales at a phenomenal rate. In reality, all sales teams want to use lead response management, whether they know it or not. Lead nurturing, management, drip marketing, and cold calling are all elements of Lead Response Management.
Most sales teams use a couple of elements of LRM, but they don’t quite grasp the whole picture. There is a good reason for this. LRM is not easy, it takes a lot of work! Even with the right tools and sales model it is a daunting task. Once you do incorporate LRM into your sales model and ultimately your entire business model, the results are incredible.
LRM software provides the user with a suite of varied options for managing their leads and contacts. The software can provide dialer capabilities (inbound and outbound), varied emailing capabilities (including mass emailing and automated emailing), voice broadcast, direct mail functionality, reporting tools, and the list goes on.
Ultimately, the idea behind Lead Response Management is the concept that the whole is greater than the sum of the parts. LRM is the practice of the various methods used in lead generation, qualification, and conversion all together. There are many tools out on the market to help improve sales. Some of these tools are stand alone solutions while others are made for integration, or in conjuction with, those which are stand alone. An example of this would be a dialer which is used to call the lead housed in your CRM. To this, LRM philosophy would reply, “Instead of picking or choosing one sales tool that improves sales, why not use all in concert to get a much greater result?”
Of course not everyone is a good match for LRM since their business model only employs one or two tools of a complete LRM suite, but you don’t know unless you try. Insidesales is the market leader in Lead Response Management and they continue to expand and redefine the field. If you are interested in learning more go to Insidesales.com. This series which I have begun, however, is dedicated to LRM philosophy and how it can help improve sales and strengthen your sales model in a way that can achieve the results you’ve always wanted.
Tags: Dialer, Drip, Lead, Lead Management, Management, Marketing, Nurture, Nurturing, Response
September 23, 2008 at 8:04 pm
Great article. This is something that almost all companies need to address. A response audit was done on over 100 companies and the average response times for both emails and phone calls was terrible. Most leads were not getting contact within the first 30 minutes when they should be getting a contact within the first 5 minutes. Studies show that web leads contacted within 5 minutes have a contact rate of 85%.