How Does Lead Information System Improve Sales Management Process

Do you have too many leads sitting on your table or in an infinitely long excel sheet?

Are they staring back at you as you rack your brain on how to hit them up before they go cold?

We aren’t going to lie — you’ve got a serious problem on your hands, especially if you consider two sales stats:

1. A mind-blowing 50% of sales prospects aren’t good fits for your company, which means 50% of your limited time is wasted if you don’t have a proven scoring method.
2. 35% to 50% of sales go to the salesperson that acts first and beats their competitors to the right prospect.

No wonder they say literally, “get it while it's hot.”

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But don’t panic just yet; there’s a solution to your problems, and it’s perfectly within reach (and budget) for 99% of salespeople.

It’s called a lead information system.

Not surprised? Well, what else were we going to say? A genie in a bottle? 🧞😜

Jokes aside, stick with us for about 25 minutes, and you’ll learn:

1. What a lead information system is
2. What salespeople use it for
3. Its five mains business benefits
4. How to find the perfect sales lead tracking software
5. The top 5 lead information systems on the market
6. Five handy FAQs

Interested?

Cool beans. Let’s get grilling started then (sorry, that GIF made us hungry).

What is a Lead Information System?

Since we only met a few minutes ago and we don’t know that much about each other, we think it’s a good idea to take it slow and start basic with a definition of the concept.

A lead information system is pretty much any piece of software that manages prospects, leads, and the sales pipeline in a systematic and organized manner.

It helps salespeople:

1. Keep on top of their ballooning pile of leads
2. Score and qualify leads in a data-driven way
3. Generate more sales and bonus checks come month-end

Alright, now onto the more important stuff.

What Is a Lead Information System Used For? And Why Does It Matter?

Companies use sales CRMs and other types of lead information systems for a wealth of different applications, including:

1. Scoring and qualifying leads
2. Managing workload and assigning prospects to the right salespeople
3. Nurturing leads as they progress through the sales funnel
4. Update prospect files so future support agents know everything about the client
5. Closing deals
6. Keeping in touch with current and past customers

All that sounds fine and dandy, but why does it matter to you?

Simple.

Leads are the lifeline of your company and the most significant challenge sales and marketing professionals face.

It’s hard and labor-intensive to generate them.

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And it’s even harder to engage with them and convert them into paying customers.

Just think that, on average, a mere 3.9% of leads turn into sales.

Ouch.

And in a nutshell, that’s why you need the help of a friendly digital assistant, a.k.a. a lead information system.

Particularly if you work in the cut-throat and time-sensitive world of insurance sales.

Lead Information System vs. Sales Leads Tracking Software vs. Online Lead Management System: What’s the Difference?

Repeat after us:

Lead information system, sales leads tracking software, online lead management system, lead tracking system.

Confused, right?

Don’t worry, so were we for a while.

These terms are so similar that it takes an IT expert to unravel the nuances and a psychology expert to explain why certain people and companies prefer one over the others.

And honestly:

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But at the end of the day, the vast majority of people using these terms refer to exactly the same thing:

A software tool that helps salespeople better organize and manage their leads and sales pipeline, with the ultimate goal of improving conversion rates and selling more.

Different companies make different platforms, add different functionality, and name them differently. But don’t sweat it — we’ll get around to this later on in this article.

However, in the meantime, there’s another term we need to bring up as it’ll pop up dozens of times as you do your research:

Sales CRM.

Mark this term into your long-term memory as it’s by far the best type of lead information around.

Why?

Because these tools are packed with a wealth of features that give you control over pretty much everything lead-related with a single set of login credentials and one monthly bill.

What kind of features are we talking about?

Here’s a teaser:

• A way to organize and sort through your contacts and leads in seconds
• One or more sales pipelines
• Sales and marketing automation
• Email and SMS communication (including drip campaigns)
• Integrated VoIP softphone
• Local ID phone numbers
• A mobile app
• Advanced analytics

And here’s an infographic from our “industry mate,” Salesmate, just in case you’re more of a visual learner:

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Sales CRMs are simply the way to go when it comes to getting a new lead information system.

But we’ll do more than just say it; we’ll prove it by deep diving into the benefits of implementing such a platform.

The Five Main Benefits of a Lead Information System

We’ve been talking for quite a while now, so let’s give the power to the people and offer you two ways to absorb the key knowledge in this section:

1. A quick summary table of the benefits — it’ll take less than one minute to read it.
2. A more detailed discussion of the five benefits — it’ll take about six/seven minutes.

It’s up to you.

Summary Table

Are you feeling like this right now?

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Yea? Then go ahead and skip forward to the next section, “How To Choose a Lead Information System for Your Firm.”

Not quite there? Then we suggest you read more about these five benefits; we might still be able to twist your arm a little and bring you over to the light side of the force (pun, intended).

Better Sales Pipeline Management

A sales CRM offers you superior sales pipeline management thanks to a visual dashboard that looks something along these lines:

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This real-time overview of your opportunities makes it a piece of cake to quickly see how your team’s workload is looking and plan for every eventuality.

No lead will ever slip through the net again and go untouched for too long.

This easily accessible data also has the pleasant effect of shortening sales cycles by up to 14%. That’s 4 days if you’re currently working on 30-day cycles!

One more thing:

A sales pipeline is pivotal for creating and sharing a company-wide sales process with your sales staff — a clearly defined set of pipeline stages (like the ones below) ensures your entire team:

1. Handles prospects in a uniform way
2. Follows established best practice
3. Collaborates on complex sales

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More Organized Data

This benefit is pretty much a given with any type of lead information system; however, nothing compares to a sales CRM.

And it’s not just us saying so; it’s the cold hard data:

74% of CRM users stated that their CRM platform gave them improved access to customer information.

You’ll literally have everything at your fingertips if you choose sales leads tracking software with an integrated mobile app.

You can finally forget about scrambling for crucial information during a sales call because all the intel you could ever want will only be a few clicks away.

Well, as long as you and your colleagues remember to keep your CRM updated.

Lead Scoring and Prioritization

One of the most important parts of your job is distinguishing high-quality leads from those that not even Joseph Samuel Girardi could sell to.

And how do you go about doing that?

You could call them up one by one and qualify each lead individually. But that would take up a lot of time, and you might not always draw the correct conclusions from a 10-minute call.

Or you could rely on the power of AI and get your sales lead tracking software to do the initial legwork for you.

Which one sounds better?

Hands down, the second one. And here’s some data on the benefits of lead scoring according to LeadX360 to back that claim up:

• 42% of companies saw measurable ROI
• 38% experienced higher conversion rates
• 31% noted increased sales productivity
• 27% saw their sales cycles shorten
• 27% mentioned better forecasting and pipeline management
• 19% enjoyed better alignment between sales and marketing teams

The Beauty of Sales and Marketing Automation

If you’re anything like the salespeople we know, you’re surely juggling too many tasks.

But don’t take it personally and blame it solely on yourself.

It’s an issue affecting all of us — research points out that nowadays, sales reps only spend circa 35% of their time actually selling.

The remaining 65% is spent on low-value-adding activities like repetitive tasks, admin, and meetings.

What can you do about it?

Turn to marketing automation and sales automation technology and free up a good chunk of your day, so you can spend more time on the things that really matter:

Building rock-solid relationships and making sales.

Just think about the results you could achieve if you upped that 35% to even 50%.

Speaking of results...

More Sales, Higher Profits, More Bonuses

If you properly implement and roll out a lead tracking system, your company can look forward to:

• Increased sales by up to 30%
• Growth in customer retention rates by up to 30%
• 24% more sales reps achieving their individual sales quotas (56% hitting their targets vs. only 45%)

These three powerful stats help to explain why research has found that sales CRMs can deliver ROIs of up to $8.71 for every dollar spent.

Awe-inspiring stuff.

If you agree, then keep scrolling as we’re about to show you:

1. How to pick a lead information system
2. The five best cloud-based solutions

First up:

How To Choose a Lead Information System for Your Firm

We know you’re dying to get to the platforms themselves.

So that’s why we’ve summarized all the tedious decision criteria in the following table to make it easier and faster to get through.

Enjoy!

Alrighty then, now you’re prepped for:

The Hunt for the Best Online Lead Management System

Ringy

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The Best Lead Management System With a Built-in CRM and Dialing/SMS Capabilities

Ringy is our company’s pride and joy.

It’s an all-in-one sales CRM that doubles as a:

• The best lead management system around
• An excellent business VoIP platform with a progressive dialer and click-to-call functionality
• Serious sales and marketing automation software
• A real-time coaching tool

What more could you possibly ask for?

How about raving user reviews and it only costing you $109 a month regardless of how many users you have?

Sorted.

And yes, working with Ringy is that easy.

Price:

$109 a month + cost of credit packages (as of November 2023)

Key features:

• Super intuitive visual sales pipeline
• Affordable for both small companies and larger ones with tons of users
• Easy-to-use automation sequences
• Cutting-edge artificial intelligence
• VoIP softphone + power dialing + smart local ID
• Free onboarding (worth up to $1000)
• Mobile apps on iOS and Android
• Insightful analytics
• Easy integrations thanks to Zapier

Pipedrive

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Excellent Sales Lead Tracking Software for SMEs With Multiple Pipelines

Pipedrive is a must-include in any ranking of the top software for sales lead tracking.

Why?

1. It’s used by nearly 100,000 companies in 179 countries.
2. It automates one million tasks every week.
3. $85B worth of closed deals has passed through this platform.

These numbers don’t lie — Pipedrive is a world-class sales CRM and lead information system that excels in the SME space.

It’s particularly suited for businesses that sell a wide range of products/services and need a different pipeline for each one.

Price:

$15 to $119 a month per user + $39 a month for the “LeadBooster” lead gen add-on + $49 a month for the “Website Visitors” tracking add-on (as of October 2021)

Key features:

• Unlimited number of sales pipelines
• Advanced lead routing
• A handy meeting booking tool
• Chatbot feature for your website
• Simple with great user experience
• Email marketing software included
• 24/7 support (chat and email)

Hubspot

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The Best Lead Management System With a Robust Free Version

Are you looking to test out a lead information system for free before you commit?

If so, you have two options.

1. Trial any one of the top platforms for a limited period.
2. Start out with the Hubspot Sales Hub. This tool gives you unlimited access to a ton of lead management software tools for 100% free.

So what’s the catch?

Only one thing — Hubspot’s paid plans get expensive very quickly, so you might need to move to a different platform when you upgrade, doubling your learning curve.

Price:

$50 to $1,200 a month (as of October 2021)

Key features:

• Free version with limited (yet powerful) functionality available
• Paid versions are best for medium to large-sized companies with longer sales cycles
• Solid automation with customizable workflows
• Powerful multi-dashboard analytics
• Live chatbots and scheduling tools
• Connects with four other Hubspot Hubs (Marketing, Service, CMS, and Operations)

Keap (Formerly Infusionsoft)

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A Fantastic Platform for Integrating World-class Automation With Advanced Sales Pipeline Management

Is your company an SME where sales and marketing come under the same roof?

If you’re nodding your head in agreement, Keap might be the lead information system for you.

It combines a world-class CRM, marketing automation, and a payment platform into a single piece of do-it-all software.

However, all this added convenience doesn’t come cheap, especially if you have large databases to upload and manage.

Keap is only truly worth it if you don’t have the time to integrate separate pieces of software, say a leading sales CRM (with a lead information system) and an online payments platform.

Price:

$79 to $499 a month per user + $30 a month per additional user + a $499 one-off payment for Expert Coaching, a.k.a. onboarding (as of October 2021)

Key features:

• All-in-one solution, perfect for entrepreneurs
• Visual pipeline management
• Email and SMS marketing
• Customizable processes and workflows
• Follow-up automations with built-in payment functionality
• Expensive onboarding

Monday.com

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Perfect for Simplifying Your Business’s Workflows and Connecting Your Team

Monday.com is a relative newcomer to the world of CRMs and lead track software.

But don’t let its young age trick you; we’re talking about a serious contender for the title of best lead information system on the market.

What makes it unique?

The incredible speed at which you can get started — its learning curve is one of the flattest we’ve ever seen.

Oh, and by the way, we should also mention that monday.com has a “free forever” plan that gives Hubspot a run for its (no) money.

Price:

$10 to $20 a month per user, minimum three users (as of October 2021)

Key features:

• Works for businesses of all sizes (from garage startups to MNEs)
• Excellent pipeline management
• Connects all of your company’s departments, and not just sales and marketing
• Customizable dashboards
• Powerful automation and reminders
• Contact form for your digital tools

Leads Tracking Software FAQs

What Is the Best Software for Lead Sales?

This is an easy question to answer.

Just pop back up to our ranking of the top five lead information software and discover everything there is to know about these five platforms:

1. Ringy
2. Pipedrive
3. Hubspot
4. Keap
5. Monday.com

P.S. The following three solutions deserve an honorable mention as they narrowly missed out on a place in the sun:

• Zoho CRM
• Freshsales (formerly Freshworks CRM)
• Agile CRM

What Is the Most Affordable Software for Sales Lead Tracking?

You have three choices if you’re looking to keep costs low:

1. Check out Hubspot’s free version, and see if it fits the task at hand.
2. Have a look at Monday.com’s free version with the same intention.
3. Get Ringy for your entire sales (and marketing and customer service) team for an ultra-low flat fee of $109 a month with unlimited users.

What Are the Benefits of a Web Based Lead Management System?

We always recommend you pick a web based lead management system (also known as a cloud-based system).

It combines the five benefits we discussed earlier in this post (jump back if you’ve missed them) with three more crucial advantages:

1. You can access your system from anywhere in the world with the internet.
2. It’s far more affordable.
3. You don’t need to take care of the maintenance and upgrades.

How Do You Best Manage Leads?

With the help of a lead information system, duh!

But let’s widen our net and share these five other ways to master the leads game:

1. Distribute leads promptly and to the most suited salesperson
2. Always record information about leads in your CRM
3. Collaborate on closing deals
4. Share best practices across your sales team
5. Use your analytics tools to spot trends, opportunities, and problem areas

Conclusion: Make Smarter Sales Decisions With a Lead Information System

It’s already time to say goodbye. But that’s no reason to get teary-eyed.

You’re off to far better places than this blog post.

You’re ready to take flight and transform your sales process into a digitally enabled ABC machine with the addition of a lead information system.

By the way, ABC stands for “always be closing” and not the alphabet.

But before you set off on your exciting journey, you should take a moment to cover two final things.

One, a quick recap of what you’ve learned today about lead information systems:

Two, a short but sweet call to action:

Don’t forget to request a commitment-free, personalized demo of Ringy to see how our all-in-one sales CRM does the job of a lead information system and much, much more.

And that’s all the selling we have time for today, so thanks for reading and good luck!