CRM Vs Lead Management Software Which is Better – It has been seen that most of the people get confused between CRM & lead management software. But both software is different from one another. Customer relationship management is a strategy to organize the business relationship and interaction with the potential and current customers. It uses data analysis about the customer’s history with a company to improve business relationships with customers. The basic aim of CRM is to strengthen the bonds between the client and the dealer.
Lead management software is used to manage the leads. It is the process of capturing leads, tracking activities, qualifying them and giving them constant attention to make them sales-ready. This is introduced to increase the efficiency of products/services. So in this blog, we are sharing the difference between CRM & Lead management software. And also let you know which one is best.
Key features of the lead management system
LMS offers many facilities which are important to run a business.
- Monitoring sales processes: – Sometimes people used excel sheets to make the records. At that time, it is tough to manage manually all the data of leads. Hence, LMS is used to organize the data perfectly and also this will help to save time.
- Effective lead management: – The volume of leads that come into the system is high. To avoid the messiness of data lead management system helps to filter out the quality of leads to others. Hence, managing them becomes easier.
- Personalize your customer’s interaction: – This system help in tracking the activities of leads. The system sets up the score to the lead so that you do not miss the interaction with the highest scored lead. This way, you also provide them meaning full offers and this leads to strengthening the bond.
- Save valuable time: – Lead management software runs automatically and does their work without any interruption. This helps you to manage the whole data, capturing the leads, track the activity and many more. As a result, you automatically save your time because you do not need to do all the work manually.
- Introduced the transparency: – This software is directly connected with the customers and there is no medium or third party in between them. This way no chance of fraud.
How CRM is important?
CRM is also here to serve businesses by offering the best services. Here, I would like to describe the merits of CRM.
- Better client relationships: – The client’s trust is based upon your services of the product, how these are realistic. The more you provide the better services the deeper the relation of the client. For this, you have to know about your client’s history. So, CRM has all the records of your clients who are attached to the company profile. Not only the current clients but it is also alert about the potential clients.
- Improve efficiency in serving clients: – CRM has all the data of the clients like what the client wants, what feedback is given by the client. This way, CRM connected with the clients and also provide the best services to them.
- Increase the satisfaction of staff: – Not only for customers but also for employees CRM provides the best features. CRM has full knowledge about the staff members like how empowered they are and also help them to solve the problem of the clients.
- Cost-saving: – Well, startup of the CRM is expensive but over time and with the features it outweighs the costs. With the help of this, many tasks are completed, the staff is satisfied, work is scheduled in proper management.
- Time-saving: – As all the activities are done with the support of CRM. Hence, it is a time-saving way to run a business. CRM solves the problems of clients, manages the leads, and builds the relation with costumers.
- Manage the leads as well as the customer’s relation: – This not only manages the leads but also manages the relation of clients even the lead ends.
How lead management software is differing from CRM?
It is slightly difficult to define the difference between the LMS and CRM because few features overlap.
- The main evidence is its name itself: –
- LMS is a system used to manage all leads, track actions, and gather data from all possible sources in one place. This allows the marketing and sales team to work together on leads. However, CRM also does the same work but with this CRM do more things. Both used to manage the life cycle of customers but CRM is also used to retain the customers, up-sell, cross-sell, manage the feedbacks.
- The position in the customer acquisition cycle: –
- The work of lead management software ends with the end of the lead. But the CRM does more and helps to manage the customer relationships after that also.
Which one is the best CRM or LMS?
As the lead management system just manages the leads but the CRM manages the leads and also manages the costumer’s relation by taking the feedback, manage the upsell, cross-sell and many more. This way, CRM is better than LMS. The Lead management system can be the part of CRM but CRM cannot. So both software has its own unique features and roles. It totally depends on your goals and needs.