Lead-to-Account Matching and Routing Software
What is Lead-to-Account Matching and Routing Software?
Lead-to-account matching and routing software automates the matching of leads to the correct account and then routes the lead to the appropriate sales representative for follow-up. CRM (Customer Relationship Management) software includes basic matching and routing capabilities.
Matching and routing software products are available that integrate with the user’s CRM, providing additional features and support for complex workflows. Some CRM vendors offer the flexibility to build your matching and routing solution within their products.
Lead-to-account matching software uses algorithms, data dictionaries, machine learning, and natural language processing to determine whether the lead is a good match for an existing account and if so, identifies the best match.
Lead routing software filters and prioritizes leads as part of the routing process. Automated lead routing rules can be customized by a variety of criteria:
sales rep availability
territory (geographical location)
The lead can be routed to a sales representative, account owner, customer success manager, round-robin sales team, or anyone else deemed appropriate. The lead can be automatically reassigned if not followed up within a designated time frame. Some routing software can be integrated with cloud-calling solutions that provide the ability to call the leads from the routing software.
Fully automated lead-to-account matching and routing software improves accuracy and reduces lead follow-up time, ultimately enhancing revenue flow. This software is essential for businesses with a high volume of leads. It is used in revenue operations by sales development representatives and account executives.
Lead-to-Account Matching and Routing Software Features
Common features across lead-to-account matching and routing software include:
Lead-to-account Matching and Routing Engines
Realtime Sales Rep Assignments and Notification
Custom Matching and Routing Rules Based on Account and Lead Characteristics
Drag/Drop Tools to Build Complex Lead Matching and Routing
Data Management - Identifies and Removes Duplicate Leads and Accounts
Lead Matching and Routing Audit Trail
Analytics – Lead Distribution and Response Times, Sales Rep Performance
Workflow Management integration
Lead-to-Account Matching and Routing Software Comparison
Consider the following when implementing lead-to-account matching and routing software:
Implementation Options: Depending upon your current CRM system, there are three ways to take advantage of lead-to-account matching and routing software; utilize the features already present in your CRM, build more robust matching and routing software into your current CRM, or purchase a product that will integrate into your CRM. If you will be deploying a new CRM, investigate its matching and routing features to ensure they meet or have the flexibility to meet your requirements in this area.
Entry-level pricing starts at around $25 a month per user, with a minimum number of licenses required to be purchased. Company-wide licensing starts at $500 a month depending upon the number of users and the range of features included.
Some vendors base pricing on the number of contacts supported, for example, 10,000 contacts for $1,000 a month. Others base pricing on the number of users, for example, 100 users for $2,259 a month. Free trials are sometimes available.
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Frequently Asked Questions
Benefits of using lead-to-account matching and routing software include:
- Enhanced Revenue Flow: Automated matching helps expedite lead follow-up. Improved response times increase conversions while avoiding mistakes, lost leads, and missed opportunities.
- Improved Customer Experience and Engagement: Correct lead-to-account matching provides sales reps with a complete account history. This eliminates duplicate calls and avoids the awkwardness and inefficiency of ‘cold-calling’ existing customers.
- Increased Productivity and Efficiency: Reduced manual intervention frees up resources for more productive activities. Eliminating duplicate leads facilitates following up on a larger number of leads and defined targeting results in more effective lead routing.
- Improved Performance: Analytics and intelligence support data-driven performance improvement initiatives.