Lead Management is a closed-loop process between marketing and sales which accelerates organic growth among new, existing or former customers through:
• Demand generation
• Lead scoring
• Lead nurturing
• Lead distribution
• Pipeline optimization of opportunities for sales conversion
Lead Management outcomes can be enhanced through the application of advanced analytical tools and technologies.
While insurance companies may have the knowledge and skills required to analyze and respond to sales data, insurers must be aware that not all agents have such abilities. Particularly for insurers with captive agents, it is important to clearly understand an agent’s skills, processes and sales strategies, and provide a structured approach to train and equip agents to achieve high performance.
First, sales leaders should establish a recurring process to work with their agents to complete sales plans and to regularly monitor actual sales. In addition, it is important to coach agents to use a structured, data-driven approach to analyze sales results, identifying the specific campaigns and activities that have the biggest impact on sales. Agents can leverage this information to refine processes and future activities and help optimize sales. This is an important part of the Accenture Lead Management Cycle.
In between coaching sessions, insurers should continually engage their agents by providing value-added information. Similar to engagement marketing with customers, insurers can reinforce the insurer-agent relationship with ongoing contact to:
• Provide regular value-added information and context for managing customers
• Focus on outcome-oriented sales to offer long-term customer value
• Better understand the changing customer landscape
• Reinforce the use and importance of data driven decision-making
• Share sales and service best practices and lessons learned