The True Cost of Lead Management Software
Despite the benefits of using a strong CRM system, the high cost of most lead management software can deter private medical practices and other small businesses. However, this may prove to be an expensive mistake. When considering the most appropriate method of tracking both online and offline leads, it’s important to weigh up the true cost of using software, not simply look at the purchase price.
Calculating the True Cost
By “true cost,” we mean the financial cost of lead management software itself, combined with the increased revenue generated by efficiently managing those leads. Some of the figures you may wish to investigate include the time saved by moving on from manual entry, the level of lead conversion when compared to the same period prior to switching to lead management software, and the increase in productivity when accurate software is used.
It’s also important to consider the percentage of leads that are capitalized upon within 48 hours using lead management software, compared to when leads were being manually tracked. As leads are more likely to be converted to sales when initial contact is followed up promptly, this is a significant factor to take into account.
The savings introduced by utilizing lead management software are a combination of overhead costs reduced by more efficient working, increased sales revenue and, as such, improved ROI.
In short: True Cost = Price – Savings. When used correctly, lead management software can result in a negative cost, effectively saving you money overall.