How To Keep Track Of Business Leads

A ‘lead’ is anyone who has shown an active interest in your product or service. Turning consumers into leads is half the battle. However, you won’t make any money unless you progress things to the next stage - which is turning leads into sales.

For some businesses, this can be a lengthy process. For example, in real estate, there are often many stages between booking a property viewing for a buyer and watching them sign the property deed. Keeping track of where a single lead is in the process can often be challenging enough. So how do you keep track of multiple leads who are all at different stages of the process (and potentially all interested in different products)?

This post offers a few tips to help you keep track of multiple leads so that no-one slips through the net.

Track leads early and automate alerts

Various software tools can allow you to track leads in the early stages. Alert notifications can then be automatically sent to your devices when these leads perform a certain action such as putting a product in their cart on your website, replying to a social media post or opening a link in a sales email. This allows you to respond early if necessary. For example, if someone has asked you a question on social media, you want to be able to respond fast while they are still interested. These alert notifications can be triggered at all stages of the sales process. 

 Keep a spreadsheet

Spreadsheets are one of the most popular and traditional ways of keeping track of leads. Here you can make a list of all your leads and what stage of the process they are at. You can also list what actions you have taken so far and on what date you have taken these actions.

Use CRM software

CRM software is a more advanced alternative to a spreadsheet. You can more easily transfer data from other places and use this software to centralise all this information. CRM software can also be used to set up alerts and even automate replies when suitable (you can even set up chatbots). There are many different types of CRM out there designed for different sized businesses and different industries. Online guides can help you compare relevant CRMs such as this guide to the best CRM for digital agencies. 

Assign lead statuses

It’s important to know exactly which stage of the process each lead is at. One simple way to do this is to assign lead statuses. This could include labels like ‘prospective’ (has shown interest), ‘nurturing’ (is currently in conversation) ‘in progress’ (in the process of buying) and ‘no longer interested’ (has abandoned the sale). You can then quickly skim each lead to remind you of where they all are in the process. 

Schedule follow-ups

Sometimes an immediate follow-up to a lead may not be appropriate. For example, if you have sent a client a quote, you may want to leave it 2 to 4 days to follow it up. Schedule these follow-ups and set reminders - either by writing them in a diary or setting up reminder alert messages. CRM software may be able to help you with this.