What Is CRM?
CRM stands for customer relations management. CRM tools are software systems which help companies to find leads, convert them and maintain a relationship with these customers so they become loyal, long term customers with a strong relationship with the company.
CRM ensures that leads are followed up, that customers are checked on every so often to maintain a good relationship with the company of which they are a client. It’s an invaluable tool.for keeping track of customers, maintaining a relationship with them and ensuring that no customer falls off the radar or feels neglected enough to engage another company’s services.
What Are Lead Management Tools?
Lead management tools are software programmes used particularly by the sales staff of a company. These tools are used to reach out to prospective leads. Once engaged, the aim is to convert these leads into paying customers. Lead management software is developed especially for the purpose of converting leads.
It is easy for sales staff to use and apply. Once the lead is approached and shows interest, the sales staff can pass the management of the company’s relationship with the newly converted lead to the company management.
The sales staff will continue to identify new leads, while the company passes the management of the new customer relationship to some especially designated staff.
The Pros and Cons of CRM and Lead Management Tools
Both sets of tools are excellent in their own way. But they serve very different functions. It is generally thought that CRM tools are all a company needs. Most CRM systems are rather large and many sales people find them cumbersome. They are usually designed with large companies in mind.
So they can be unsuitable for start-ups and smaller companies. Most sales staff prefer not to use them. For the sales staff, identifying leads and establishing an initial relationship is what they’re all about.
Solution – Start With LM and Grow Into CRM
For a small company, the most sensible thing to do is probably to try lead management software. Identifying and reaching out to leads isn’t easy. It’s a skilled job for which a particular talent is required. Endless patience and lots of waiting is involved.
But as the company grows, it will move from tracking its CRM activity on spreadsheets to a fully fledged CRM system. The lead management system can be linked to the CRM. You can ready more about this here. (https://blog.youdontneedacrm.com/difference-lead-management-software-crm/)
