As explained in Wikipedia, Lead Management is a term used in general business practice to describe methodologies, system and practices designed to generate new potential business clientele, generally operated through a variety of marketing techniques.
It's a process or a practice to be executed on enquiries or suspects to filter them as prospects and work on them continuously till they become your customers. Customerism and business relationships will be built later only if the suspect buys your product / services. Hence managing your leads is the crucial first step of your sales & post-sales cycle. An effective lead management initiative is the one which can bring business even from dead opportunities.
Once a lead is captured, exercise to convert it into the deal starts. The first step of conversion starts which is to find out and categorize if its really a prospect. Further, various activities will be performed (offline and online) for the completion of a sale. At the center of these activities is 'communication' with your lead and within your organization whether its been performed via phone, email, visit, chat or anyother lead nurturing tool. If these commications are recorded well, ongoing nuturing communications will happen confidently, accurate, without any confusions and hence cultivating a lead into future sale. All this can happen with an effective lead management system which let these practices to be executed.
'Leadomatic' can help you work on leads by recording all activities, scheduling next action and keeping your sales team updated.