How does a CRM help to manage your MCA leads?March 06, 2023
With a soaring approval rate of 84%, the MCA industry is nothing short of a lead magnet for small to medium-sized businesses. As more companies seek to improve their revenue through MCA products and services, an MCA provider must know how to manage leads effectively.
However, deploying a superior tech-based solution, such as a Customer Relationship Management software (CRM), will not only cater to the rapid company expansion but also aid in maximizing your lead generation efforts while streamlining your company operations. While a CRM addresses multiple pain points in an MCA company – it can be a real game-changer in managing your leads.
In this article, we will address how a CRM plays a significant role in the MCA lead management process. (you just spent 3 paragraphs saying this.)
How can an MCA CRM Improve Your Lead Management Process?
Engage with the right leads
Well-run MCA companies receive a large number of leads every day. On average, only 10% manage to move down the funnel. Such leads accumulate every day – causing clutter in your workflow. No matter how organized this “clutter” is, separating qualified leads from the clutter
is still not very efficient. It is a monumental task, with something always getting lost in the shuffle. No matter how efficient the marketing process is, the company will undoubtedly leak marketing dollars; if it does not include a CRM to capture and manage those leads.
A CRM which can manage lead flow by correctly categorizing leads as qualified or unqualified and-scheduling them for further contact as needed on a simple-to-use dashboard is the ideal choice for mining your contacts. Once the list has been refined, you can devote time to nurturing the prospects genuinely interested in your product/service by optimizing your sales chances.
Boost ROI by utilizing the most effective marketing channels
Managing leads with a CRM makes it convenient to track their source. Once you know which platform is generating the majority of your leads, you can modify your marketing strategies and reevaluate your advertising campaigns accordingly.
Improve the buying experience
When you use an MCA CRM to manage your leads, you receive real-time data-driven updates on your prospects which helps you personalize their buying experience. For example, getting your prospects’ birthday notifications, receiving individual follow-up updates for every prospect, and so on.
Once you have your prospects’ data in place, you understand what they are looking for and how and when they prefer to engage. Adopting data-driven metrics can shorten your sales cycles and result in a faster conversion by allowing you to focus on the most pressing needs of your client and help with timely engagements. This also stretches your marketing dollars by increasing engagement, leading to more conversions with less effort.
Add Leads Directly From Your Website
With a good CRM, you no longer need to add leads manually. Your CRM can auto-capture your leads and their information directly from your website – thanks to website integrations, and keep it saved in a database and viewable on a convenient dashboard.
Avoid wasting time on multiple disparate tools
If you are using multiple tools for your day-to-day tasks – are you utilizing your time effectively? With a CRM, you can integrate multiple applications and keep your data centralized in one place.
Stop lead leakage during nurturing
When nurturing a lead; it’s important to share relevant resources to push them down the line. But it’s impossible to estimate manually, leading to lead leakage.
A competent CRM system makes it easier to identify where your leads are in the sales pipeline and track their actions. To better predict a sales approach, time of need, and so on.
How Can You Use Your MCA CRM To Warm Your Leads?
Use automated communication to keep the leads warm consistently
While spamming any leads are counter-productive; it’s important to keep some level of consistent communication with your leads. Most CRM systems allow a user to set up a drip campaign that would keep you and your company in the periphery of a potential buyer so that when a client is ready to pull the trigger, you are first on their shortlist to contact.
Know what stage of commitment your leads are by implementing an effective sales funnel and communicate accordingly
Before communicating with your leads, it’s important to know what stage of your sales funnel they are in. This allows an effective salesperson to provide appropriate information to the lead.
For example, if a lead is towards the beginning of the sales funnel, you may want to send them information about your company and its services. If the lead is towards the end of the sales funnel, direct information about the services you think may work best for them, with an offer of a discount for a period of time, may work best.
Sending resources that match your leads’ preferences will help them to engage more and keep them warm and ready to convert.
Look Out for stalled stages
As there are multiple stages in the sales funnel, it’s common for a lead to get stuck. Either hire someone or take the responsibility to constantly keep an eye on the pipeline and offer fixes to move them down the funnel.
Create Urgency for Your Prospective Buyers
Maybe your lead has moved down the funnel – but still, they haven’t yet made a purchase. The ideal solution to break the jam is to create limited-period offers – and create urgency among those prospective buyers.
With a CRM, you can build effective campaigns for your MCA business, avail better customer data, and understand how customers interact with your campaigns. Once you have all the data and know which campaign works for your prospective buyers, it’s a cakewalk to double down on what works and strike off the rest.
Boiling down, MCA CRMs aren’t there to take over workforce roles, but they make lead management a cakewalk by maximizing sales scope, streamlining workflow, and automating specific manual tasks. Now, think how much more efficient your team can be with a bit of help from a solid CRM for your MCA business!