Do you have one friend who seems on top of their game at all times? They remember every birthday, bring reusable bags to the grocery store, and mail handwritten thank you notes. They're organized and confident, and it seems like no detail escapes them.
Your friend probably doesn't have super powers. Instead, they've discovered a system that helps them manage life's many details.
In business, some companies seem like your uber-organized friend. These companies build deeper customer relationships, cultivate brand loyalty, and experience steady growth.
How do these successful companies manage it all? The answer is simple: Lead management software. Read on to learn how you can reap the many benefits of lead management software, too.
What Is Lead Management Software?
Lead management software is a tool that helps companies manage complex customer relationships. You may also encounter the synonymous term "CRM software." (The acronym is short for "customer relationship management.")
Customer relationships are at the heart of any business' success. But as your company grows, managing these relationships becomes more challenging. For one thing, the sheer volume of customers can become difficult to manage. Customers want personalized experiences, whether they've been with you for five years or five days.
Additionally, collaboration gets trickier as your company grows. Imagine if two employees email the same prospect, unbeknownst to one another. Despite their good intentions, they might offer conflicting pricing, or burden the customer with too many requests.
Enter lead management software, or CRM. You can think of this tool as a real-time hub of information. It powers collaboration by recording all customer interactions. That means you can avoid double-emailing by simply checking a customer's record. Problem solved!
With time, lead management software generates detailed customer records. Customers will feel cared for, and your staff will be able to meet their needs.
Before choosing your lead management software, look for these features:
- Sophisticated inbound marketing
- In-depth insights into team activity
- Data-driven reports that drive improvement
Let's take a closer look.
Lead Management Software Feature #1: Inbound Marketing Support
Because lead management software manages your contacts, it's often paired with inbound marketing. Inbound marketing is an alternative to digital marketing tactics such as banner ads or pop ups. These types of ads are often viewed as spammy and can annoy customers.
Instead, inbound marketing strives to provide value in exchange for contact information. Companies often offer blog posts, newsletters or white papers through inbound marketing. Then, you can use customers' contact information to build authentic relationships. Many customers find inbound marketing to be more thoughtful and less intrusive.
To maximize inbound marketing results, you should aim for a multichannel approach. Common inbound marketing channels include:
- Email marketing
- Social media platforms
- Landing pages on your website
- SEO-optimized blog posts
Lead management software doesn't just capture these inbound leads. It also maintains a record of where leads are coming from. This can help you measure success and refine your approach over time.
Finally, if inbound marketing sparks a conversation, your lead management software can sync all messages into one communication hub. No matter where a conversation originates, you'll be able to keep it going over time.
Lead Management Software Feature #2: Insight Into Sales and Marketing Activities
We've already touched on the fact that lead management software aids collaboration. But what does that look like in practice?
With lead management software, your entire team can access the same database in real time. That means no more trading spreadsheets that are out of date within minutes.
While this is convenient for daily operations, it's even more powerful for long term planning. Lead management software clears away confusion and uncertainty. You can view your sales and marketing teams' performance at a glance.
With lead management software, your team will operate like a well-oiled machine.
Lead Management Software Feature #3: Access to Data-Driven Reports
One of lead management software's greatest benefits is that it unlocks the power of customer data. Your lead management software should be able to generate reports about a broad range of activities.
Companies often use lead management software to generate reports such as:
- Win rates at different stages of the buyer's journey
- Performance statistics for individual employees or teams
- Revenue generated by specific campaigns
Instead of poring over spreadsheets, you can access this information with just a few clicks. With time, this data will help you solidify your strengths and shore up any areas of weakness.
Lead management software also gives you greater control over your contacts. When you can track details about your customers, it's easy to segment your audience. For example, if you want to reach customers who live in a certain location, you can instantly generate a list.
Best of all, cloud-based lead management software can generate reports any time, from any device.
Want to see how simple lead management software can be? Download our free eGuide to learn more today!