How a Lead Management Tool Like a CRM Can Save You Time and Money

By Erika Sommer, Content Writer at PipelineDeals

Saving time and money while simultaneously growing your business is one heck of an achievement. How is this even possible? Through implementing lead management tools like a Customer Relationship Management (CRM) software into your sales practices.

A CRM is a platform that assists you with virtually every aspect of the sales journey. From lead capture to the closing of a deal, it will help keep your sales pipeline in check.

But how can it help you save time and money? Well, it’s all about efficiency. Here are some ways a CRM platform can increase productivity and efficiency within your company, which in turn leads to a return on your investment.

Visibility into Pipeline

A key component of a CRM is its ability to give you access into the inner workings of your sales pipeline. If you can’t see what’s happening on the front lines, how can you make executive decisions that will affect your company?

Unlocking the gate to every aspect of your sales process will indefinitely increase efficiency. Here are a few ways a CRM can do this for you:  

Reporting and Analytics

At the heart of a CRM is its reporting features. With reporting and analytics tools, you’ll be able to gain valuable insight into all stages of your pipeline. You can view how many deals were lost or won, as well as how long it takes for each deal to close.

From there, you’ll be able to gather valuable insight on how your sales team is performing, who the top performers on the team are, as well as what needs to be improved.

And from a top of the funnel perspective, you’ll gain valuable information into how your marketing channels are performing, and what needs to be nurtured.

Examples of reporting features across various CRMs include dashboard reports, sales and graphic reports, as well as deal stage tracking. But no two CRMs are identical—which means you can pick and choose based on the one that best fits your needs.

Lead Tracking

Gaining knowledge about where your leads are funneling in from will help you make better forecasts into the performance of your marketing channels. You’ll be able to determine which campaigns are working, which aren’t, and how to modify them to increase traffic.

Organization  

Organization is another key feature of a CRM. Organization leads to efficiency, which leads to a swifter sales process, and an increased ROI. Here are a few ways a CRM can help keep you organized:

Contact management

A CRM will allow you to house all prospect, lead, and client information in one centralized location. This could include anything from email, to phone numbers, to company information. You’ll also be able to store all recorded communication you’ve had with a prospect or company throughout the sales process.

For example, if you’re talking to multiple points of contact when trying to close a deal, you’ll want to keep track of everyone attached to that deal, as well as a log of all the communication you’ve had with them.

In fact, according to Hannah Steffensen at GPS Trackit, an industry-leading telematics SaaS provider, “When salespeople can reference a record of previous interactions, they don’t have to waste time trying to gauge a customer’s knowledge and needs … It preserves the history of conversation with the customer, effectively minimizing communication gaps.”

A contact management CRM allows you to keep track of all contacts across an account, as well as all interactions your team has had with them. This will indefinitely keep you more organized.

Prioritize Tasks

Most CRM’s also give you the ability to assign out tasks and duties to different members of your sales team, as well as manage them within the sales pipeline.

For example, if you’re the admin of the CRM, you’ll be able to assign out tasks to sales members based on performance, expertise, etc.

You’ll also be able to log activity as you complete it, so your entire team or company can see the pipeline workflow, what’s being worked on, as well as what needs to be completed.

Productivity

The third piece of the puzzle is productivity. Not only will a lead management system save you time and money through visibility and organization, but it will also make you more productive. This in turn helps to close deals faster and get the job done.

There are many ways a CRM can increase productivity, but the most important are listed below: 

Automations

In the world of the modern CRM, you’ll be able to automate mundane tasks that cost your sales and marketing teams countless hours. Most CRM software’s automation features can automatically assign tasks to team members, update deal stages in the sales pipeline, send automated emails, send notifications to team members when tasks are completed or deals are won—and the list goes on and on.

Having a system that automatically completes tasks for you reduces repetition among team members performing the same tasks. It also frees up time for you to speak with leads and prospects, allowing you to focus on closing deals.  

Integrations

There’s one final component to the productivity puzzle—integrations. Nowadays, most CRM’s give you the ability to integrate third party apps with the platform.

For example, with PipelineDeals, you can integrate Google Apps, Mailchimp, Microsoft Outlook and Excel, Zapier, Quickbooks, and many more platforms with our CRM. With integrations, there’s no doubt that having multiple applications in one centralized location will save you time and result in a sweet return on your investment.

So, if you’re curious how a lead management system like a CRM can save you time and money, sign up a free trial with us today. You have nothing to lose.