What is sales lead tracking?

Tracking your sales leads is crucial when following up a lead and closing a sale. But there is so much more to know about sales lead tracking and how it can help you and your sales team.

Explaining sales lead tracking

Sales lead tracking is the process of determining the source and status of leads in the sales process. It involves monitoring where leads are in the sales funnel and knowing what action to take to move a lead to the next stage and eventually convert a lead into a sale.

For instance, a lead could be in the ‘interest phase’, where a potential customer has shown interest in a product or service that you’re offering. Or they could be in the ‘decision phase’ where they are about to reach a final decision to purchase that offering.

Why is it important?

Sales lead tracking is vital to call and contact centre teams whose job it is to follow up leads. It can help them determine which leads are:

• Hot and have the potential to become a sale
• Weak and shouldn’t be a priority
• Going cold, so action should be taken quickly

Without a lead tracking strategy, it’s difficult to understand the status of a lead and forecast sales. As well as determining where leads are in the sales funnel, by using one you can know things like:

• Which leads are strongest and weakest
• Where leads have come from and when
• How leads might prefer to be contacted

With this information your staff can do their jobs more efficiently, which helps to improve team productivity. They can also follow up leads in the most effective way to increase conversion and boost sales.

Benefits of using sales lead tracking tools

Using tools and software to track your sales leads has many benefits, including:

Organisation

Having access to the right information about your leads and the stage they’re at in the sales process can help your team to provide good customer service and expedite time spent on closing deals.

Efficiency

When your staff have the right information they need to help them follow up a lead successfully and close a sale, they are able to work more efficiently. Meanwhile, management have clear visibility on key information such as the status of a lead, how long it’s been in the pipeline, and who in the team is working on what.

Customisation

Salespeople can have a complete picture of each potential customer and become more aware of their needs, such as what they might be thinking or feeling. This can help them provide a more tailored service when following up each lead.

Teamwork

When each member of a sales team has access to the same information about leads, they are on the same page when following them up. This means it’s easier for staff to collaborate and pick up conversations with leads at different stages.