Future of Marketing – Magic Quadrant for CRM Lead Management
The demand for marketing lead management applications has been growing since the year of 2017. Customer have been insisting to focus on increased lead organization and scoring procedure. Sellers are reverting on this requirement by delivering multichannel lead management flexibility and concentrating on AI for scoring and converting leads.
But what is CRM Lead Management?
CRM lead management is the procedure of acquiring leads, following their movements and activities, converting them into qualified leads, providing them extra observation to get them ready for selling, and finally delivering them to the sales team.
- Manage the procedure of unproductive contacts and opportunities from different references.
- Creation of an entire lead profile via deduplication and augmentation of lead data mostly with third-party information.
- Convert the leads.
- Automate your leads via a nurtured lead platform.
- Qualify and focus on the sales opportunities available in the sales funnel, such as sales groups or outbound customer support teams.
Latest and upcoming technologies in lead management include:
- Support for Client journey mapping
- Customer support for inside sales
- Availability of Account-based marketing functionalities.
- Predicative analyzation and utilization of Artificial Intelligence to maximize the efficiency of lead management procedure.
Some recordings at this year’s Magic Quadrant comprised of:
- Almost 14 sellers were evaluated this year with a debutant being “Mautic.”
- For a second year in a row two big sellers have been excluded from the magic quadrant list being “Adobe and Microsoft.”
- Salesforce took a step forward in this year from being Challengers to the Leaders quadrant due to their updated product development and enhancement.
- Pegasystems also took a high leap from the Nice players to getting themselves up in the visionaries’ quadrant.
- Meanwhile HubSpot still remains in the Niche Players quadrant.
Sellers that have been Included and Excluded:
- Included – Mautic
- Excluded – Callidus Cloud (part of SAP), Sugar CRM
What is the selection criteria for Magic Quadrant?
Organization:
- Capacity to provide lead management application features.
- A requirement of almost 12 latest clients that have made deployment through its lead management functionalities in the last 12 months.
- It requires your organization to have a customer service team in at least of the following locations – North America, Latin America, EMEA, Asia/Pacific.
- A significant seller business success; a recommended client implementation record.
- A network of implementation partners who can deliver innovative augmentation like special integration services, third-party functionality and consultation.
Technology:
Multichannel management
The capacity to implement a unique technique over various channels or stages, therefore boosting chances to interact with potential clients. Sellers should focus on three fundamental lead generation and lead management platforms via the same campaign. At least one lead management channel must be supported by the sellers.
Primary channel include:
- Email marketing
- Personalization and customization of websites
- Creation of website landing pages
- Social media websites such as Facebook, LinkedIn
- Direct mail marketing automation
- Demand services
Advanced channels include:
- E-commerce websites
- Web-based informative videos & online conferences
- Visual communicative applications
- Seminars and events
Lead process management:
The capacity to make lead management work processes to oversee and control the lead lifecycle from gathering to transformation utilizing a graphical or nongraphical scripting software.
Furthermore, the lead management framework must execute the below-mentioned activities:
- Play out different lead management procedures and work processes all the while inside a singular case of the product
- Delete cold leads from the database.
Lead Augmentation and Deduplication:
The capacity to include –
- Rewritten contact information or add absent or extra data, for example, missing email fields, to the lead from outside sources continuously.
- Coordinate and store the above data into the lead management database and connect it with the suitable lead or client data.
- Give incorporated information editing abilities to take out inadequate, excess or duplicate lead data dependent on criteria set by the end-client company.
- Augment a lead with extra security or value included material, for example, archives or PDFs, spreadsheets, recordings or online webinars, to maximize the lead score and the possibility to close. On the off chance that this part is given via integration with a third-party software or specialist organization’s product, this must be cancelled out.
Lead Nurturing:
The capacity to oversee and control the lead lifecycle from allocation to conversion, including, at the very least:
- Maintain (developing a relationship for longer-term offer)
- Execution (pitching to the customer at a suitable time later)
- Exclusion (cutting cold leads from the database)
Lead Scoring and Qualification:
The capacity to make numerous lead capability and scoring procedures utilizing business guidelines or machine learning. These can be set up on the points, for example, a campaign, item categorization, client value, lead information fields, evaluated client estimated value, opportunity esteem or occasional criteria, to make different lead capability and scoring procedures at the same time.
Lead Aggregation:
Lead input capacities need to help both online constant/close time procedures and disconnected, group contributing to information. The seller does not have to give a database, but rather an information module and the capacity to gather/source information that will be saved in the database required.
Lead management analytics:
The capacity to utilize integration software’s (e.g., APIs, XML) to exchange information within applications. These applications incorporate both source applications (e.g., third-party information suppliers, referral frameworks and sites) and execution applications (e.g., SFA, contact support and email).
How to utilize Magic Quadrant?
The relative aspect of sellers in this Magic Quadrant depends on consideration criteria and key criteria for assessing their capacity to implement and have appropriate vision. Counseling and solution implementation ventures require a mix of business, industry, innovation, and undertaking and program management expertise that must streamline with your targets, institutional and work culture, and representatives.
Key aspects revealed after Market Quadrant research survey for lead management purchase:
- 77% of customers said improved business outcomes was the main reason for lead management application purchase.
- 71% of customers said driving revenue growth and 69% customers felt supporting internal operational services were one of the reasons for lead management application purchase.
Salesforce was the most considered CRM by almost 57% of customers, followed by 38% Marketo, and 32% Oracle. - 69% of customers said product functionality and performance was one of the key factors for shortlisting their CRM software.
- 86% of customers said predictive lead conversion was one of the key components.
- 76% of customers purchased lead management software for email marketing, 53% by web-based content, 51% by campaign management, 38% by SEM, and 38% by digital marketing.
