Did you know that following up with leads within just 5 minutes can skyrocket your chances of conversion by up to 9 times? Lead distribution software is every business’s secret weapon to increase the likelihood of conversions.
Сompanies often struggle to define how inbound leads are assigned to their marketing and sales reps, and such issues tend to complicate and disrupt the process even more.
The sales success rate depends on the accuracy of the lead qualification process, and no business wishes to take potential customers through the entire sales process in vain. But mastering the best practices and coming up with effective lead distribution strategies is only half the battle.
So is there a silver lining in all the commotion? How can you streamline the process and prevent losing out on sales?
Source: Friends
Ensuring a simple and transparent lead distribution process can be challenging and involve many lead assignment rules and routing options. However, lead distribution solutions have all it takes to deal with declined leads and wield substantial control over your revenue.
This article will examine the value of the lead management process and the role of lead distribution systems in driving business growth.
Let’s start with the obvious question. What does the lead management process entail?
It’s all about identifying, managing, and converting prospective customers into returning and paying ones. Lead management solutions — we’re talking lead distribution and tracking in particular — allow businesses to bring in new high-quality leads, manage them efficiently, and then generate income by converting them into loyal customers.
Let’s dive into the nitty-gritty of the process as we go through each stage and examine how lead distribution software facilitates it.
It is traditionally divided into five stages. Here’s a short description of each step to help you understand the process better:
Lead capture is when leads enter the company database for the first time. With the growing variety of lead sources, including social media, websites, offline events, email campaigns, and PPC efforts, businesses often generate inbound leads in substantial numbers.
Here is a list of mediums marketers typically use to capture leads successfully:
The increasing number of lead sources is one of the reasons for brands to automate their lead capture process rather than keep and manage inbound leads in an Excel spreadsheet.
With marketing automation tools like lead distribution and tracking, businesses can leverage built-in lead capture features. Such features allow for capturing leads from every source and passing them on to the appropriate sales professionals for follow-up.
This stage entails determining the lead sources and the type of leads, i.e., inbound or outbound. Businesses can use this lead data to plan and enhance their future steps in the conversion process.
Most commonly, a lead management and distribution system tracks a lead’s behavior and website engagements after they are captured. Then, it passes (or distributes) the leads to the company’s sales professionals with the most relevant experience.
Strategic lead distribution can improve conversion rates and sales. For instance, businesses can distribute leads based on their geographic location, interest in a specific product, or account size. In some cases, sales reps can be assigned to the same area. That implies using a particular rotation method and lead assignment rules to ensure a fair lead distribution.
In this stage, sales professionals communicate with the inbound leads assigned to them. The communication process entails getting a good sense of whether the leads are worth following up with during the initial call. When qualifying a lead as a sales opportunity, sales reps typically use a list of features provided by their managers to eliminate the guesswork.
This process is called lead scoring. It implies that inbound leads get specific scores on a scale from one to ten based on numerous criteria, including demographics, engagement, buying history, behavior patterns, interest, etc. Qualified leads with high scores are considered sales-ready and typically have the highest priority.
Even the most sophisticated lead generation process doesn’t always result in an abundance of high-quality leads.
In other words, most inbound leads will not score well or make a purchase immediately. Although leads might lose interest in your offerings, you should consider them as prospective buyers.
Developing and implementing lead nurturing strategies can help businesses keep leads in the pipeline, keep them interested, update them on current offerings, and engage with them until they finally convert.
Businesses use lead distribution systems to connect consumers with the brands and products they are looking for. The process generally starts with a company using particular marketing channels and ads to direct consumers to specific offers. These prospective consumers, also known as leads, are then assigned to sales reps who can best assist them.
Lead distribution system allows utilizing various distribution logic. Here’s an example of a lead distribution logic used by a company offering financial services:
Source: The Definitive Guide To Call Tracking Software: How It Works & Its Impact
It’s not uncommon for lead generation companies to use distribution and lead distribution software to connect prospects to optimal buyers successfully. Businesses equipped with automatic lead distribution leverage sophisticated algorithms that match reps, buyers, sellers, and leads by using the information captured during the lead and call tracking processes.
For instance, Phonexa’s LMS Sync – lead management and distribution solution – offers a unique filtering feature that enables buyers to receive the most relevant leads while reducing lead response time. Besides, it allows lead distributors and generators to direct leads to the correct destination without delay.
Take a test drive and explore how Phonexa’s lead distribution works.
Lead management is the process of capturing lead data from multiple sources and using it to guide communications between sales reps and prospective customers. It entails capturing, tracking, validating, nurturing, and forwarding leads to sales professionals.
Lead distribution is inextricably linked to lead management. It allows for capturing inbound leads and directing them to specific destinations or lead buyers. On top of that, it enables lead sellers to monetize declined leads and get connected to more interested parties.
Scaling sales and marketing efforts comes hand in hand with the decreasing capability of a business to manage leads manually as effectively as before. At that point, business owners realize it’s time to automate the company’s lead distribution efforts.
Here are the top four automated methods of lead distribution most brands use to manage a growing number of inbound leads:
It’s no secret that customizing lead distribution rules and automating routine tasks is essential to creating a successful lead distribution strategy. Here are four crucial steps brands take to develop and implement an effective distribution strategy:
Regardless of the size of your sales team, sales reps and marketing experts have probably used one of the lead distribution strategies listed below. While each has advantages and drawbacks, it’s crucial to understand how these approaches can help you decide which fits your company’s next growth stage.
Let’s examine in more detail the most common lead distribution strategies.
| Strategy Name
| Explanation
|
| Segment-based lead distribution | It’s not uncommon for sales reps to choose clients based on their experience and company strategy. More often than not, businesses use a segment-based approach when reps are assigned to specific areas, regions, states, or cities and, therefore, leads from those locations. The segment-based strategy is about more than just a particular territory; it can take many forms, including the industry or the company’s annual revenue. |
| Round-robin lead assignment | This strategy is common in early-stage companies because it facilitates lead distribution. Simply put, it divides inbound leads evenly among all the sales reps. Since small companies typically have up to five sales professionals, implementing this approach can jeopardize the customer experience. Why is that? As a sales team grows, it includes varying expertise, skills, and competencies, making this strategy no longer efficient. |
| Tiered lead distribution | This strategy implies assigning leads to reps based on predefined criteria to guarantee the best team performance. For instance, if a company hires new sales reps with decent ramping skills, there are two ways to deal with lead distribution. First, a company can assign them more leads so that they open up the pipeline and move leads down the sales funnel faster. Second, assign fewer leads so that they take time to grasp the intricacies of a company’s sales process. Ultimately, this strategy considers individual capabilities and skill sets to determine the reps with the most significant potential for enhancing the overall team performance. |
After figuring out which lead distribution strategy fits your business, it’s crucial to understand how to optimize and streamline your lead distribution process.
Here are five actionable tips that will help you achieve the mission:
The cooperation and transition of leads between sales and marketing departments must be smooth. Businesses can automate their lead capture process with the right marketing automation solution.
When a lead signs up for a trial, messages you on social media, or fills out a web form, you can capture their information, track their behavior, and direct them to specific sales professionals through the CRM system integrated with the lead distribution tool.
Businesses need to define the factors that impact their lead qualification process. It can be a geographic location, business size, company’s budget, issues the organization is experiencing, etc.
That will help you filter your inbound leads based on specific predetermined factors. As a result, only high-intent leads will be routed to your sales representatives.
After lead qualification and prioritization, businesses must assign them to suitable sales professionals. It means establishing specific lead distribution rules. Here are some common factors companies consider when setting lead distribution rules:
Regardless of your chosen criterion, it’s crucial to ensure that the company representatives have enough resources to engage with leads properly.
Tracking and measuring the results of the implemented lead distribution strategy is as important as evaluating the performance of every stage of your sales funnel. Here are some of the essential metrics businesses typically track:
Before utilizing a lead distribution system, brands must ensure that their lead generation, call tracking, lead management, lead distribution tools, and CRM can integrate and work seamlessly. This way, companies can reduce lead response time and ensure an efficient sales process while remaining transparent with sales and marketing teams.
Over 50% of marketers spend half their budget on lead generation efforts. It’s hardly surprising since effective lead generation allows for building a sales pipeline by capturing and stimulating the interest of prospective buyers. Besides, businesses that use lead gen to determine their ideal customer profile may rest assured that they’re on the right track to capturing more quality leads.
But how do lead generation and effective lead distribution correlate? Let’s examine in more detail how lead generation efforts can improve your company’s lead distribution system.
Many organizations invest in increasing efficiency and speeding up business processes. For that reason, it’s common for companies to purchase and implement lead distribution software that ensures better performance, speed, and integrations.
Additionally, it helps businesses concentrate on innovative lead generation methods and approaches without sacrificing lead quality.
With Phonexa’s lead distribution software, brands can facilitate the lead management and distribution processes and leverage advanced reporting, automation, call tracking, and distribution resources that make for one of the most effective lead distribution solutions available on the market.
Phonexa’s lead distribution software with ping post technology enables businesses to optimize the traffic flow, create custom ping trees, leverage predictive insight into active campaigns, and strategically route leads in real-time.
When it comes to Phonexa’s ping tree software, it enables a sophisticated lead distribution process that employs ping post technology to deliver and route leads to multiple sellers and buyers based on different filters, factors, and lead prices.
All those arrive at the lead management dashboard via LMS Sync, Phonexa’s lead management, tracking, and distribution solution. The ping tree software enables publishers and affiliate marketers to instantly distribute the same leads to a network of potential buyers for real-time bidding.
One of the traditional lead distribution methods provided by Phonexa’s tracking and lead distribution software is rules-based distribution. It helps brands find the best match between the lead and the sales rep by using specific criteria such as lead origin, interests, language, etc.
Phonexa enables businesses to take advantage of CRM integrations within their tech stack by seamlessly organizing lead data, distributing leads, adding prospective customers to the sales pipeline, and streamlining the sales process to facilitate converting leads into sales.
Integration opportunities are essential to the success of any lead distribution strategy. Therefore, companies must be able to integrate a lead selling software and distribution system with their CRM software. With Phonexa’s suite of marketing automation solutions, businesses can automate their workflows, make strategic decisions, and accelerate lead data transfers.
Lead generation and management strategies require access to structured lead data and insights. Therefore, advanced reporting is a critical feature of any lead distribution software. Phonexa offers granular analytics and an advanced reporting feature with an easy-to-use dashboard, custom reports, information on agent performance, unpaid invoices, etc.
Innovative lead management software with ping post lead distribution improves business functionality by offering such features as customer feedback capture. This feature facilitates lead assignment while allowing businesses and teams to track leads and prospects as they are pulled or qualified by sales or marketing departments.
Phonexa’s Ping Post Calls 2.0 enables performance marketers, small businesses, and enterprises to collaborate directly. With this feature, Phonexa introduced a novel approach to enhancing lead flow management and purchasing and selling ping post leads. It assists sellers and buyers with real-time bidding based only on the best call and lead data attributes and ensures that sellers maximize their profits on every lead.
Let’s look at how companies can use lead distribution software across four industries.
Source: The Tonight Show Starring Jimmy Fallon
It’s common for financial companies to use technical terminology to describe specific processes and products. That makes it challenging for prospective customers to understand the offerings. Besides, it complicates the purchasing decisions.
Since prospective clients often have many questions, they call financial advisors to clarify doubts and make educated decisions.
Here’s how financial institutions can benefit from implementing lead distribution software:
The home services and improvement industry has numerous niche offerings, including solar power solutions, remodeling, and roofing.
When home service providers get most inbound leads from performance marketing companies or a network of affiliates, the leads are distributed simultaneously to multiple contractors. In other words, the same lead can be sold to several contractors in a specific area, which means speed-to-contact is crucial.
Implementing lead distribution software can help contractors achieve the following goals:
The name of the game for insurance professionals and providers is “jockeying for position” in a highly competitive market. Therefore, it is paramount to implement tech tools and solutions to improve customer engagement, increase retention, bring in more quality insurance leads, and distribute them effectively.
Here’s how insurance carriers and agencies can make the most of lead distribution software:
Make the most of real-time reporting and discover lead data trends.
Consumers contact hotel chains and tour operators to inquire about travel packages and accommodations. Such communication usually happens via phone calls, email, or live chat.
Here’s how implementing lead distribution software can help travel and hospitality businesses achieve their sales and marketing goals:
The process of generating, capturing, qualifying, and distributing inbound leads is ongoing regardless of the industry or niche. Therefore, developing a distribution strategy and implementing lead distribution software is the surefire way to speed out the process of reaching out to leads and delivering them the best possible customer experience.
Take a test drive or schedule a consultation with one of Phonexa’s experts to discover how a single operating solution for partner and performance marketing can help your business increase lead response time, streamline sales workflow, and automate your lead distribution process.
Inbound leads are prospective clients who initiate contact with the business after an organic search, a referral, or a chance encounter with the company’s content. Inbound leads tend to have higher quality because they trust the brand and are ready to purchase.
Lead distribution software aids the lead management process by assigning inbound leads to suitable sales professionals based on predefined criteria. The criteria typically include but are not limited to the representative’s availability, geographic location of prospective clients, sales rep’s expertise, company budget, and time zone.
It means assigning inbound leads to your sales reps manually or automatically.
The round-robin method implies that every new inbound lead is assigned to a different sales professional until each sales rep has received and handled the same number of inbound leads. Then, the cycle repeats.
It ensures that each lead is assigned to a sales rep with a specific experience and skill set. In other words, it guarantees that brands will assign inbound leads to the best-suited representatives likely to close the deal. Since every prospective customer has unique goals, issues, and needs, matching them with the appropriate sales professional is crucial to delivering excellent customer experience and boosting conversion rate.
"One out of every three professionals on the planet is on LinkedIn. " – Jason…
We’ve put together this comprehensive call tracking guide to share our knowledge and help you…
Affiliate marketing on LinkedIn involves leveraging the platform's professional network to promote products or services…
While everyone is raving about the martech power of ChatGPT, another big storm is brewing…
This blog is part of our ongoing series on home services lead generation, offering strategic…
Here’s what it takes to convert a caller nowadays: the right information served at the…