Back to Blog 3 Critical Lead Tracking Functions You Need in a Staffing CRM by Bullhorn on July 20th, 2017 Turning initial sales leads into substantial revenue doesn’t have to be an impossible task. Recruitment CRM software can make the conversion process easier than you may think. Today, many sales teams utilize their CRM system as a comprehensive way to organize contacts and prospects. What many forget, however, is that a CRM also manages relationships. The right CRM software will help you track, manage, and nurture leads at every stage of the sales process. Capturing leads is just a preliminary step in building your sales pipeline. To convert your incoming leads into actual revenue, you will need to track them from start to finish. This is where your CRM’s lead tracking system comes into play. If implementing a CRM with lead tracking software is at the top of your priority list, then you are in the right place. Choosing the best CRM system to manage your leads and prospects is a significant step in this process. Look for these three critical lead tracking functions to maximize revenue and optimize your sales efficiency this year. 1. Lead Scoring The right CRM can help you determine the quality of each incoming lead through an integrated lead scoring system. In essence, lead scoring within your CRM automatically measures and qualifies leads depending on their level of interest and engagement. Lead scoring leverages a fixed formula to rank leads in order of sales readiness, allowing you to separate real prospects from dubieties. Lead scoring software can also prioritize contacts according to the most up-to-date contact information so that your sales team can focus its time on engaging the most active, qualified leads. Overall, this will lessen the time your team invests in leads that are not very far down the purchase funnel and reduce your CPL. 2. Lead Management Lead management CRM software allows you to track marketing campaigns and prospects at every stage of the sales pipeline. An efficient CRM will measure the average time it takes to move a prospect through the pipeline, from initial inquiry all the way to closing a deal. With the right software in place, you can track each lead’s touch-points and keep in contact with your prospects at every stage of the sales cycle. Maintaining contact and nurturing your relationships with prospects is the key to better conversion rates, and faster lead response times are vital. A recent Marketo article revealed that a 5-minute lead response time makes you four times more likely to qualify a lead than a 10-minute response time, and 21 times more likely to convert a lead than after a 30-minute wait. A mobile CRM can help you and your team manage leads anytime and anywhere, whether you’re in the office or on the go. With this immediacy and mobility in place, you can be agile when receiving and responding to reminders to contact your sales leads throughout their path, helping you to close deals quickly. 3. Customer Intelligence and Lead Tracking Analytics A CRM with lead analytics can provide insights into the health of your sales pipeline and any recurring trends within your sales funnel. By tracking leads from start to finish, a lead management CRM helps you see where your prospects are dropping off and can further determine which activities are leading to funnel churn. Company stakeholders can analyze what is working, anticipate what deals will be closing, and improve the sales pipeline before any revenue is lost. A CRM should help you track leads from the initial capture to a signed contract. By helping you understand the entire lead nurturing process – from origin to quality to behavior – the right CRM system can increase your team’s efficiency, boost revenue and enhance your primary customer relationships.