When it comes to running a business, managing ALL the different projects and tasks can be difficult. You’ve got to send proposals. And invoices. You need to make sure client work is getting done. You’ve got your own marketing to take care of. There is onboarding and offboarding to keep track of. Not to mention, leads and referrals that you need to follow up on. The list of things to do is long and ever-growing.
But luckily, there are tools available that help streamline the process of keeping all your information together. In fact, there are so many tools out there that it can be overwhelming to try and figure out what you need. The two tools I most often recommend are a PMT (Project Management Tool) and a CRM (Customer Relationship Management System).
Of course, then, my clients want to know the difference between a PMT and a CRM and how they can help keep their business organized – all while delivering a stellar client experience. So let’s dive into what each type of tool does, and discuss why you may need one or both in order to scale and succeed.
Definition of a PMT
A project management tool (PMT) is an invaluable asset for any organization, providing users with the opportunity to manage projects and their associated tasks from anywhere with internet access. This tool allows stakeholders to collaborate more effectively and assign tasks, deadlines, and resources in a unified place. Additionally, project management tools offer features that enable you to track progress, manage schedules, and even forecast future outcomes. By using a project management tool, organizations can foster more effective communication across departments as well as ensure all aspects of the project are accounted for and completed on time and under budget.
Definition of a CRM
A customer relationship management system (CRM) is an all-encompassing solution that helps businesses monitor their interactions with current and prospective customers. It enables companies to store and analyze customer data to improve customer service, create proposals and contracts, send automated emails, and even invoices as needed. Each CRM system should be tailored to the unique needs of the business leveraging it; this includes consolidating customer accounts, tracking customer service requests, managing contacts, analyzing data points such as purchase behavior, and predicting future trends. With an effective CRM system in place, businesses will be better equipped to bring value to customers via their products or services and work toward achieving their goals.
Differences between Project Management Tools & CRMs
Project management tools and Customer Relationship Management (CRM) solutions are both commonly used in the business world. While they are both effective in their own ways, it is important to understand the differences between them. Project management tools help teams organize and track tasks associated with a project, while CRMs store customer data like contact information, proposals and contracts, and financial transactions. Both can help streamline processes when used together, but they are distinctly different solutions and should not be thought of as interchangeable. When considering which solution best fits your needs, researching features and assessing use cases will be essential for making an informed decision.
Benefits of Using a Project Management Tool
Project management tools are essential for businesses that are looking to streamline their workflow and see their projects through from start to finish. These tools can help bring greater visibility and clarity to each project, ensuring that nothing is missed or left behind. By tracking tasks, resources, timelines, deadlines, and deliverables all in one place, these tools make it easy for team members to stay on track and collaborate effectively. Because of time-saving features like automated reporting, easy access to file storage, and more efficient communication between stakeholders, businesses using project management tools can even stand to save money while regaining valuable time each day.
Benefits of Using a CRM
Using a CRM can be highly beneficial for businesses of all sizes. From small start-ups to long-standing corporations, having the ability to store all customer data in one organized place provides business owners with a wide range of advantages. A CRM allows companies to quickly access customer contact information and, more importantly, build meaningful relationships with their clients. The ability to track inquiries, create proposals, and send contracts are just a few of the benefits that come from using a CRM. Additionally, it helps save time and money by allowing businesses to focus on organizing existing data without having to spend time collecting new information.
What’s the Right PMT and/or CRM for Your Business
Selecting the right project management tool or customer relationship management (CRM) software for your business can be challenging, but it’s crucial to make the right decision. Start by determining your business’s specific needs, such as the size of your team, the type of projects you work on, and the level of collaboration required. Look for a tool that offers the essential features you need to manage your projects effectively, such as task assignment, deadline tracking, and reporting capabilities. For a CRM, consider features like lead tracking, invoicing, and automation. Additionally, think about the scalability and customization options of the tool, and whether it can integrate with other software your team uses. Don’t forget to consider the cost and ease of use for your team.
Using a project management tool or a CRM can be quite beneficial for business and agency owners. Project management tools are effective at helping with the tracking and completion of tasks, while CRMs provide a means of managing customer relationships. Ultimately, whichever solution you choose should depend on your needs. If you need assistance figuring out a PMT or CRM – or both – that is suitable for you and your team – schedule a call. I’d love to learn about your needs and discuss solutions that can help you now and as your business grows.