As a brand manager; you channelise all your marketing efforts in gaining visibility among competition. Post garnering viewers interest; the next priority is to convert that interest into a lead. But often evaporation of such interest or lead loss are few challenges that is put across your discussion table by outsourced outbound partners.
We believe that there are new ways to discover, create or qualify potential interest before converting them as sales for your brand. Your marketing efforts attract eyeballs in big volumes and the growth that online as a medium is experiencing; only adds to measurable pool of prospective customer. But often do we come across in Telesales campaigns; that such tools of measurement are effectively used only till acquiring a lead, and the immediate next focus is generating sales based on law of averages instead of a strategic approach towards each lead.
Akil (Co-founder & CEO – Altius) mentioned during a conversation that, ‘Consider the investment that you have made in acquiring these lead; they are equal, so why not extend your strategies to your tele sales partner and garner better results from the money that you have already spent.’ We as a business often ask these questions to our clients that, at what pace, in which style and by which medium are these prospective customers reverted? The benefits of Omni Communication were quoted in our last blog.
If your team is questioning the prominence of a Lead Management System? Imran (Head – Contact Center Operations – Altius) would want to ask them a question on their Cohort Performance; which he refers as, ‘A method of nurturing leads throughout its gestation period and then deriving campaign performance’. He adds that, ‘Though the performance would follow the law of diminishing returns, but a Project Manager should be able to conclude on the apt threshold for optimum performance through A/B testing.’
Our Lead Management System deployed across domains offers an organized method of classifying and scoring leads as they are captured. They can also be organized in multiple ways; by geography, media channel, behavioural traits, engagement period and more. “In absence of a lead management system, it can be challenging to coordinate distribution of leads or maintain an appropriate follow up schedule.”, concludes Akil.
We have witnessed that the industry terms of LMS & CRM are used interchangeably; but both technologies serve different purpose and cater at different levels of customer acquisition process. To put some light on this; a CRM system is utilised post a customer is onboarded and a LMS facilities in onboarding a lead and converting such leads into a customer. Every brand manager needs to distinguish between what they need now and what can be used in near future. When comes to lead acquisition; LMS is what brand manager needs rightnow to capture leads, address it and convert.
This blog was written with excerpts from Akil Mahimwala; who is a successful technologist and has consulted and implemented technology advancements for more than 50 contact center, PSUs and Corporates over the last two decades.