- Large and small enterprises have lead management processes and can benefit from lead management automation (LMA). The challenge is choosing the right size for the right lead channels for the organization, and making sure that those efforts are integrated with the rest of the CRM software in order to maintain a 360 degree view of customers and prospects. Marketing, sales, and IT will save time and money with an LMA platform.
- Further, many organizations make the mistake of believing that LMA, marketing automation (MA), and email marketing are the same thing, or thinking that their CRM platform can manage the same functionality. Organizations are challenged to decide whether they should opt for an LMA solution, a more robust marketing automation solution, or outsource the process altogether.
- LMA is an area of technology that allows the business to function autonomously from IT, freeing IT resources. However, it is a mistake for organizations to implement a solution in a vacuum. Implementation requires IT involvement to integrate the LMA solution for data prospecting, reporting, and data integration with the CRM suite.
Our Advice
Critical Insight
- LMA facilitates closed loop sales and marketing, enabling users to find qualified leads and convert them into customers faster. Managing the sales lifecycle is absolutely essential for B2B business and profitability.
- LMA and email marketing are not the same! The focus of LMA is nurturing prospects across multiple channels (e.g. Web, email, social, etc). Most B2B is done through email, but don't limit yourself to just email, use social and Web to maximize prospects!
- Ensure LMA success by integrating the solution with the organization’s CRM suite. Take time prior to implementation to de-duplicate data, and ensure data quality for the best results.
Impact and Result
- Understand the benefits and metric improvements of using an LMA platform. You will see an increase in qualified leads, revenue per sale, lead conversion rates, repeat customers, and up-sell and cross-sell opportunities. Costs per lead, time to execute campaigns, lost leads, and client churn will all decrease.
- Save time and money by using Info-Tech’s Vendor Landscape to compare and contrast the major LMA vendors, and then create a shortlist of the most appropriate vendors.
- Use Info-Tech’s LMA RFP Template, RFP Scoring Tool, and Demo Script to gather vendor and product information, objectively score the responses, and conduct vendor demonstrations to select the right product; and follow best practices for implementing the selected platform.