Lead management software is used to manage the complete customer lifecycle, from capture to conversion of a lead, providing high-value and qualified opportunities to the sales team. Lead management software applications are deployed in the marketing and/or sales operations departments. Lead management software supports the process of collecting unqualified contacts and opportunities from various sources such as email responses, marketing communication databases, multichannel marketing campaigns, and offline interactions such as seminars and tradeshows, social media and web pages. Lead management software is capable of filtering and supplementing the lead information with third-party data sources, in order to form a more complete lead profile. The leads can be scored or rated, sent through a lead nurturing workflow, and then qualified or prioritized as sales opportunities and distributed to the appropriate sales team. The fundamental goal of lead management software is to deliver opportunities that have a higher chance of conversion to the sales team.
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Trends in the lead management software market indicate a shift toward the lead management functionality being integrated as a part of a larger customer relationship management (CRM) system and other marketing automation projects. Many companies are now trying to improve the collaboration between their marketing and sales departments. SaaS and cloud-based solutions are preferred over the more traditional on-premises-based applications by enterprises due to the lower costs and better flexibility. Lead management software is being increasingly adopted by small and mid-sized companies that have smaller sales and marketing teams. Further, incorporation of conversational artificial intelligence technology within lead management software (such as chatbots) allows marketers to customize and automate more of the lead-nurturing and lead-enrichment process, in turn reducing the cost of a sale, allowing companies to create better reach strategies, and enables sales teams to focus on the most qualified leads.The introduction of chatbots for customer interaction would drive the lead management software market growth in the near future.
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The lead management software market can be segmented on the basis of type of deployment, industry, size of industry, application, and region. Based on deployment, the lead management software market can be divided into cloud-based and on-premise. In terms of industry, the market can be divided into food & beverages, health, wellness, fitness, hospitality, insurance, marketing & advertising, pharmaceuticals, and retail. In terms of size of industry, the market can be divided into small and medium enterprises (SMEs) and large enterprises. Further, based on application, the lead management software market can be classified into contact management, integrated email marketing, bid management, real-time tracking dashboards, billing & invoicing, sales stage tracking, social media integration, landing page management, task management (assign leads and follow-up), and calendar integration. Based on region, the lead management software market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is anticipated to grow in the lead management software market due to an uptake in the mortgage market in this region. Asia Pacific and European regions would account for a significant share in the market due to an increase in IT enabled service (ITeS) providers, which is propelling the demand for lead management software.
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