Written by
Aron Vaughan, Staff Writer
Read more by Aron →
Reviewed by
Corey Noles, Managing Editor
Read more Sales content →
Written by
Aron Vaughan, Staff Writer
Read more by Aron →
Reviewed by
Corey Noles, Managing Editor
Read more Sales content →
What is lead management software?
Lead management is the process of tracking and managing prospective customers, called leads. It combines a set of methods and practices for gathering, qualifying, and pursuing leads who come through outbound and inbound channels.
According to a recent Intelligistart study, companies with mature lead generation and management practices achieved better sales productivity and higher revenue growth. Mature companies achieved 133% greater revenue versus their plan than average companies, and 174% more than the least mature company.
Lead management software is critical for sales success because it supports increased complexity as a company scales; managing 200 leads is a lot different than managing 2,000 or 20,000 leads, let alone even more. Once some of those sales leads turn into customers, businesses must continue to nurture those relationships to ensure lasting customer success. That’s why lead management software and customer relationship management are so closely intertwined.
Effective lead management is considered the backbone of a successful sales operation and a critical first step in the sales cycle. As such, our experts curated a list of the top lead management software in 2024:
- LeadSquared: Best for automating sales and marketing workflows
- Leadfeeder: Best for converting website visitors into leads
- LeanData: Best for lead routing in complex sales processes
- Salesforce: Best for comprehensive CRM and lead management
- HubSpot: Best for integrated lead nurturing
- Zoho CRM: Best for affordable CRM and lead scoring
Our picks for the best standalone lead management software
LeadSquared: Best for automating sales and marketing workflows
Pros
Cons
Our Rating: 4/5
LeadSquared is a marketing automation and lead management software that helps businesses capture, track, and nurture leads from various channels such as web forms, chatbots, emails, and social media.
The software is designed to cater to the diverse needs of various business sizes and industries, making it a well-rounded choice for organizations looking to optimize their sales and marketing strategies.
A key feature of LeadSquared is its exceptional lead management capability, which allows businesses to effectively track, nurture, and convert leads. It also offers powerful marketing automation tools for executing targeted campaigns and tracking their performance. Sales acceleration is another focal point, with features like automated lead scoring and advanced sales analytics aimed at hastening the sales cycle.
Customization and integration are also prominent aspects of LeadSquared, offering seamless compatibility with various third-party applications. This adaptability is complemented by a user-friendly mobile app, ensuring accessibility and convenience for users on the move.
Leadfeeder: Best for converting website visitors into leads
Pros
Cons
Our Rating: 3.9/5
Leadfeeder is a digital lead generation tool designed to enhance B2B lead generation and sales processes by tracking and identifying anonymous website visitors. Distinguished from traditional CRM platforms, its core strength lies in converting website traffic into actionable sales leads. Leadfeeder excels in revealing which companies visit your site and what their interests are, even if they don’t fill out a contact form. This functionality allows businesses to proactively engage with potential leads that would otherwise remain unnoticed.
The software integrates seamlessly with popular CRM systems and email marketing tools, enabling a more cohesive sales and marketing approach. This integration facilitates the efficient transfer of lead information, ensuring that sales teams can follow up effectively. Leadfeeder’s user-friendly interface and straightforward setup process make it accessible to users of varying technical expertise.
Ideal for small to medium-sized businesses, especially in the B2B sector, Leadfeeder is particularly beneficial for marketing and sales teams looking to harness their website’s potential as a lead generation tool. While it doesn’t provide the extensive CRM functionalities of platforms like Zoho CRM or the advanced lead management features of LeadSquared, its specialized focus on website visitor tracking offers unique value.
Leadfeeder’s approach represents a shift towards more proactive, data-driven sales strategies, leveraging web analytics to uncover potential business opportunities hidden in website traffic.
LeanData: Best for lead routing in complex sales processes
Pros
Cons
Our Rating: 3.8/5
LeanData is a lead routing and management software that helps users manage leads across different channels and campaigns. It automates the lead routing process and ensures leads are assigned to the right salesperson. It also provides real-time insights into lead activity and engagement.
A Salesforce-native platform, it has established itself as a vital tool in the B2B sales and marketing landscape. It’s designed to streamline and optimize the complex processes involved in sales, marketing, and revenue generation. The platform excels in integrating various aspects of the sales and marketing funnel, from lead generation and management to aligning sales strategies and operations.
The software offers a range of features that assist in lead organization, such as duplicate removal, automatic lead assignment, and efficient conversion tracking. These features are particularly beneficial for sales and marketing teams in managing leads and improving the efficiency of their sales processes. One of LeanData’s key strengths is its ability to automate workflows, a feature that has been praised for its ease of use and effectiveness in managing sales territories and customer relationships.
LeanData’s integration capabilities are extensive, connecting seamlessly with popular CRM platforms and marketing automation tools. This integration is designed to facilitate better communication between systems and streamline various operations, ultimately aiming to boost sales and revenue growth.
Top CRM software for lead management
Salesforce: Best for comprehensive CRM and lead management
Pros
Cons
Our Rating: 4/5
One of the key features of Salesforce is lead capture, which allows businesses to capture leads from multiple sources, such as web forms, social media, and email campaigns.
Salesforce also offers lead scoring and nurturing capabilities, allowing you to prioritize leads based on their engagement and automate lead nurturing campaigns to move them through the sales funnel. Additionally, Salesforce allows you to route leads to the right sales reps based on predefined rules and criteria, ensuring that they are handled by the appropriate team members.
HubSpot: Best for integrated lead nurturing
Pros
Cons
Our Rating: 4.5/5
HubSpot CRM is a comprehensive lead management solution that offers a range of features to help businesses manage their leads effectively. One of the key features of HubSpot CRM is contact and lead management, which allows businesses to manage their contacts and leads in one centralized location, providing a complete view of all interactions and activities associated with each lead.
Sales pipeline management is another important feature of HubSpot CRM, providing a visual sales pipeline that allows businesses to track their leads through each stage of the sales process, providing real-time insights into their progress and enabling them to identify potential bottlenecks and opportunities. Like the other CRMs listed here, HubSpot CRM integrates with a wide range of third-party tools and platforms.
Zoho CRM: Best for affordable CRM and lead scoring
Pros
Cons
Our Rating: 4.4/5
Zoho CRM provides lead scoring and nurturing capabilities, allowing businesses to prioritize leads based on their engagement and automate lead nurturing campaigns to move them through the sales funnel. Additionally, Zoho CRM offers real-time insights into lead activity and engagement, allowing businesses to track their progress through the sales funnel and adjust their strategy accordingly.
Find your new lead management software
What is the lead management process?
While there are several different models of the lead management process out there, most people agree that it can be broken down into five steps:
1. Lead generation or lead capture
Lead generation refers to gaining new leads through both inbound and outbound marketing techniques and collecting their contact info. Tactics can include blog posts, advertisements, white papers, social media, events, webinars, public relations (PR) campaigns, and more marketing strategies.
2. Lead tracking
Lead tracking refers to using tools to track how prospects are engaging with sales and marketing tools. For lead tracking, sales teams may look at who is clicking on web pages, opening emails, signing up for giveaways, and so on.
3. Lead qualification or lead scoring
Lead scoring involves deciding which prospects are most likely to make a purchase and rating them accordingly. Businesses use many different criteria for lead scoring, including whether or not they have the budget to buy the product or service and whether or not they have the authority to make a purchase.
4. Lead distribution
Lead distribution involves matching leads to the sales representative who is most likely to convert them. This is helpful for businesses with large sales and marketing teams who have leads across many different products, services, and/or industries with vastly different needs.
5. Lead nurturing
Lead nurturing involves building relationships with leads with the intention of eventually converting them into buyers. Lead nurturing can take many different forms, including follow-up phone calls, drip marketing campaigns, product demos, and more.
Also read: 10 Best Customer Database Software Solutions
Lead management vs. CRM software
Lead management and customer relationship management (CRM) are two separate processes, but they are closely related. Lead management focuses on the pre-conversion part of the sales and marketing process, whereas CRM considers the entire customer life cycle. Similarly, lead management tools are mostly used by sales teams, whereas CRM platforms are used by both sales and marketing departments.
Lead generation and customer relations strategies must be aligned for sales and marketing success. Not only is it six to seven times more expensive to acquire a new customer than it is to retain an old one, but a simple 5% increase in customer retention can also increase company revenue by 25–95%. If a sales strategy is focused on pursuing leads while completely neglecting post-conversion customer relationships, a lot of hard work and potential profits will be wasted.
For this reason, lead management is often included as a subset of features in a CRM software solution. For instance, Salesforce’s lead management tools are bundled into its comprehensive Sales Cloud, and HubSpot CRM includes lead management features as well. Stand-alone lead management options exist, but an integrated system will most likely be more streamlined and affordable.
Also read: Best CRM for Startups
Lead management software features
The best lead management tools are a marriage of CRM and marketing automation systems. They are built to handle leads from inquiry to sale, dripping leads down each level of the sales funnel with nurturing content or interactions until they close.
The best lead management software systems can have a myriad of functions, but they’ll usually also include all or some of the following features:
- Contact management
- Integrated email marketing
- Quote and bid management
- Real-time tracking dashboards
- Billing and invoicing
- Pipeline management
- Social media integration
- Landing page management
- Task management
- Mobile app
- Calendar integration and/or built-in scheduling
What is the importance of lead management software?
If you’ve even tried to track all of your qualified leads in a spreadsheet, then you know how frustrating and inaccurate manual lead management is. A manual lead management system can be incredibly cumbersome and, in some cases, impossible to maintain, especially for large businesses that have an overwhelming volume of incoming leads.
Manual lead management also greatly increases the chances of human error when it comes to data input. A salesperson may incorrectly capture customer contact info, assign the wrong qualifications to the wrong leads, and/or make another error that negatively impacts the lead management process.
Lead management software allows many of these processes to be automated, which not only saves time but also provides data-backed insight into areas for improvement.
Improved efficiency
For starters, lead scoring leads prevents sales reps from wasting time with unqualified leads who have a very low likelihood of ever converting into customers. Instead, they can identify the most promising leads and balance their time between converting hot leads and nurturing warm or cold ones. Lead management systems also prevent calls, demos, and meetings from falling through the cracks.
Process optimization
In addition, lead management software helps businesses understand which tactics are bringing in the best leads, so they can optimize their overall sales strategy to be more effective and efficient. Since lead management software documents a lead’s full history of interactions and experiences with a company, sales teams can analyze exactly how a person was converted from a prospect to a lead to a customer and use that knowledge to better inform future sales practices.
Easier collaboration
When properly implemented, lead management software helps sales teams operate more efficiently and boosts the bottom line. It also ensures the entire sales team has visibility into one another’s work by centralizing everything in one platform, which makes team collaboration easier as well.
Increased revenue
All of these practices help create more sales opportunities and therefore contribute to the business’s bottom line. According to Marketo, companies that excel at lead nurturing generate 50% more sales-ready leads at a 33% lower cost, which means better leads for less money and greater overall profits.
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