Using a spreadsheet or a diary to keep track of your contacts might be helpful now but if you want to keep your lead conversion and contract renewal rates high, you need to always remember their individual needs and preferences which is physically impossible.
You need an effective contact management system and this post will show you how to do this.
What is Contact Management?
Contact management is strategically organizing and nurturing relationships with potential customers (leads) and existing clients. You do this by having a centralized database for your contacts, also known as a contact management system where you store all the details like names, companies, job titles, any previous purchases, previous s+upport tickets, preferences and more.
Now, contacts aren’t only your leads. They are key people in your business so it could also be your suppliers, business partners, existing customers and more. Once you have a good contact management strategy, you can build the foundation of a solid sales pipeline.
Why Should You Prioritize Effective Contact Management
Contact management should be one of your top priorities as a B2B salesperson or business owner because you get;
- A more centralized data point
Instead of spending valuable time finding details about a client or a lead across several Excel sheets, apps or diaries, you have one central database that has every detail you need for a personalized outreach.
- Better client relationships
Good contact management allows you to have all the information you need to make every interaction with your stakeholders a personalized one. For example, when meeting a lead after a discovery call, you’re reminded of what they are looking out for and you can include that in your pitch. With existing clients, you can increase customer satisfaction and retention rates by simply using these details well.
- Increased productivity
Depending on what contact management system you use, you can even automate tasks like sending emails, setting reminders for call-backs and so much more. This gives you the time to work on other priority or demanding tasks.
- Higher sales and revenue
A happy client is a paying client. So the more your existing clients are satisfied, the more renewals you’ll get. This also applies to your leads. When they are happy with your approach, they’d be easier to convert.
- Better team collaboration
When you have a centralized contact database, teams can bahrain telemarketing list work together seamlessly to improve customer experience. For example, your sales team can better address customer pain points the support has logged in because they now know it exists.
What is a Contact Management Software?
A contact management software is an advanced digital address book that allows you to store, organize, and find information about your business contacts.
With this software, you can save important information like emails, websites, addresses, social media and notes, personalize future interactions what are the best practices for lead management? and automate tasks like setting up reminders or even sending emails.
Since B2B sales involve a series of buying decisions, with a good contact management system, you can track interactions (emails, calls, meetings) with each contact, allowing you to personalize your outreach and build stronger relationships.
The Major Difference between a CRM and a Contact Management System
Now you might be thinking, how is it different from a CRM? While a contact management system or software is similar to a CRM, they differ based on so many factors including;
- Purpose
A contact management system seeks to organize belize lists information about your business contacts. A CRM on the other hand organizes your contacts and helps you nurture relationships for either converting leads, retaining existing users or driving revenue.
- Key Features
A contact manager would include centralized storage for contact details, being able to segment and filter them, as well as other helpful features like email and notes.
A CRM has advanced features for lead scoring, qualification, sales pipelines and automation as well as other tools like marketing automation, customer support features and more. While it can store contact information, it also includes more details like lifetime revenue, analytics and reporting.
- Team owners
CRM is mostly used by sales teams to get leads through the sales funnel while a contact management system is used by different teams like sales, customer support, marketing, and even operations.