Lead management is a sales and marketing process that works in tandem with lead generation to acquire and manage leads (also known as prospects) with the goal of eventually converting them into customers.
A lead is any person who you have reason to believe might be interested in your brand and could, with the right approach, be converted into a paying customer in the future. Providing these leads with the information that they need to continue their journey through the sales funnel is the main objective of lead management.
It’s also the role of lead management to ensure that any and all available data on leads is collected and analyzed so that revenue teams can make informed decisions and focus their attention on those who are likely to convert. Having a clear overview of lead data also puts revenue teams in the best possible position to feed leads the right messaging based on their persona.
Revenue teams typically make use of CRMs and other centralized platforms to handle lead management.