lead-management-software

Top 5 Lead Management Software in 2023

Choosing the right lead management software can be challenging, especially when there are 100s of software solutions to choose from. Although all these platforms look identical, each one is built for different types & sizes of businesses with different use cases. One platform that might work for enterprises, but might not be as useful for freelancers or small businesses, and vice versa.

Factors You Need to Consider Before Choosing a Lead Management Software

To ensure that you are choosing the right LMS for your business, consider the following factors:

1. Identify your business goals and objectives: The first thing you need to do is to understand your existing sales process step-by-step, see all the bottlenecks in your current process, and list down all your business goals and objectives you need to fulfill. This will help you determine the features and capabilities you would need in a lead management system. Also, try to find a lead management system that has a proven track record of success in businesses of a similar size and industry to yours.

2. Adaptability & User-friendliness: Choose an LMS that is easy to use & learn, and offers onboarding training & support if and when needed. Also, check if it lets you customize the features according to your existing sales process. For example, Refrens allows you to create multiple sales pipelines for different products and services, and customize things like lead stages, pipeline fields, tags, etc

3. Integration & Automation capabilities: Check if the LMS can integrate with other tools & software if required. For example, Refrens has these embedded web forms which you can embed on your website & other platforms where you get your leads. Any leads collected via these forms will automatically reflect in your LMS.

4. Scalability: See if the LMS can handle your growing business needs. Check whether it can support a large number of leads and users.

5. Reputation & Security: Make sure that you are going with an LMS which is secure, is reputed, and has a track record of success in businesses of a similar size and industry to yours. 

6. Budget: Last but not the least, consider the cost of the LMS. Understand the pricing mechanism. See if you will be charged on the basis of the number of leads you manage, the number of team members using the system, or the number of features you use. See if the pricing mechanism makes sense according to your budget and requirements.

Some popular lead management software options include Refrens, Monday.com, Salesforce, ActiveCampaign, and PipeDrive. These software solutions can help you organize and manage your leads, as well as automate and streamline your sales process. Here’s an overview of the major features provided by all these software to help you make an informed decision:

Top 5 Lead Management Software

  1. Refrens

Refrens is the all-in-one Lead Management Software that helps you,

  • Automatically capture leads from your website, social media, and other platforms
  • Customize your lead form to capture the right amount of details
  • Create multiple sales pipelines for different products and services
  • Assign the right leads to the right sales reps
  • Segment leads in different stages
  • Communicate with leads over WhatsApp and Email
  • Keep track of all the communication in one place
  • Create & manage roles, and control access
  • Auto-reminders so you never miss a follow-up
  • Customize your lead management process with custom fields, tags, and labels
  • Create quotations, send them over Email/WhatsApp, and track them
  • Convert quotations into invoices with a single click
  • Collect domestic and international payments

Best Suited For Freelancers, Agencies, and Small businesses

2. Monday.com

Major Features:

  • Gain insights and a clear overview of sales, processes, and performance through the customizable dashboard
  • Set up auto reminders, due-date notifications, and assign tasks to teammates
  • Automate your sales pipeline
  • Captured leads online through the integrated contact form
  • Collaborate with your team in a shared workspace
  • Integrations with Slack, Google Drive, and other platforms.

Best Suited For Small to Large size businesses

3. Salesforce

  • Pipeline and Forecast Management
  • Customizable reports and dashboards
  • Automatically track emails, calls, and meetings
  • Create Email Campaigns
  • Stand-alone application

Best Suited For Medium and Large size businesses

4. ActiveCampagin

  • Lead scoring to help you prioritize leads
  • Send emails automatically when a lead reaches a certain score
  • Update your contact details automatically
  • Get an overview of the entire sales pipeline and lead history

Best Suited For Small to Medium size businesses

5. Pipedrive

  • Select Metrics to customize your dashboard
  • Visualize your leads in multiple drag-and-drop pipelines
  • Create buyer personas with custom information fields
  • Track the source of a lead and analyze it
  • Get a live view of leads’ activities

Best Suited For Small to Medium size business

However, if you don’t want to spend money on an LMS, there’s nothing wrong with using good-old Excel.

How to Track and Manage Leads with Excel or Google Spreadsheets?

If you are a small business with limited resources, and can’t afford a stand-alone lead management system, Excel or Google spreadsheets can be your savior.

In this article, we will look at all the details you would need to keep track of in your spreadsheet to effectively manage your leads. 

Firstly let’s see what data you need to capture.

  1. Lead contact details
  • Company Name
  • Contact Person
  • Email Address
  • Phone
  • Mailing Address
  1. Lead Requirements
  • Requirements
  • Budget
  1. Lead Activity Tracking
  • Who created the Lead?
  • When was the lead created?
  • To Whom it is assigned?
  • When it was last contacted?
  • What are the next action steps?
  • When is the next follow-up date?
  • What is the status of the lead? (open, won, lost, not serviceable, etc)
  • Internal Notes or Comments
  1. Lead Scoring
  • You can also include formulas to score leads on certain parameters like lead status, ability or willingness to buy, demographics, etc. This scoring can help your sales team prioritize and organize leads effectively.
  1. Analysis 
  • You can also create reports, charts, or graphs to visualize & analyze the effectiveness of your lead management process.

If you are short of time, you can use our full-fledged lead management system or if just want a simple spreadsheet, you can use this free sales lead tracking and lead management template, to quickly get started.

Once you have found the software that works for your business, you need to set it up effectively to get the most out of it.

7 Steps to Effectively Set up a Lead Management Software

LMS can be a powerful tool for any business, as it allows you to capture, track, and manage potential customers efficiently. However, setting up lead management software can be challenging, especially if you are new to using these platforms.

It took me weeks to find the right system that worked for my business, and I don’t want you to make the same mistakes that I did. And that’s why I am sharing this simple step-by-step guide to effectively setting up a lead management system that helps you bring efficiency to your sales process, and convert more leads into sales.

1. Identify your business goals and objectives: The first thing you need to do is to understand your existing sales process step-by-step, see all the bottlenecks in your current process, and where you need help. This will determine the features and capabilities you would need in an ideal LMS for your business.

2. Research: Research and compare different lead management software out there. Look for the one which can replicate your existing process digitally, make it more efficient, and fits into your budget.

For example, I was getting leads from multiple platforms and had to add all this data manually to a spreadsheet. So, I needed an LMS that can automatically fetch lead data from all these platforms. And that’s one of the reasons why I went ahead with Refrens which provides web forms that can automatically capture data from anywhere to my LMS. Also, I no longer have to pay for multiple tools as I can use Refrens to create invoices and collect international payments as well.

3. Setting up: Once you get the LMS that works for you, start setting it up by-

  • Getting an onboarding demo & training if required
  • Adding your team members, and managing their access levels.
  • Importing your existing leads data 

4. Customize: Create and customize your lead management system to reflect your business processes and workflow. For example, Refrens enabled me to create multiple sales pipelines for different products and services, and customize things like lead stages, pipeline fields, tags, etc. 

5. Integrate & Automate: Integrate your LMS with other tools and platforms if required. For example, I embedded Refrens’ web forms on my website, social media, and other platforms where I was getting my leads. Any lead I collect via these forms automatically reflects in my LMS.

6. Track & Analyze: Keep frequent checks on your lead flow to monitor how leads are moving through your sales pipeline, keep track of all the communication in one place, and strategize to quickly move your leads through the sales process and improve lead conversion.

7. Review & Update: Regularly review your LMS and see if you need to make any changes to meet your business goals. Stay updated with the latest features and best practices to get the most out of your LMS.