What Is CRM?

What is CRM?

CRM is an acronym that stands for Customer Relationship Management. It’s a software solution that helps to improve your business faster and manage many of the following business process:

  • Customer Data
  • Customer Interaction
  • Access business information
  • Sale automation
  • Leads Tracking
  • Marketing Automation
  • Clients & Contact Management
  • Customer Support
  • Employees Management
  • Customers are the strength of any business. Without customers, the business will fail. However, the success of a business depends on the relationship you have cultivated with your customers. It depends on how well you know each other. It depends on trust and loyalty. That’s why Customer Relationship Management (CRM) is very important.

    While a CRM is traditionally used by sales, marketing and customer support team can benefit a great deal from it too.
    What is CRM Software?

    CRM Software that was initially developed to improve customer service. It relates to an entire business strategy. CRM software to bring your sales, marketing, and customer support activities together, and streamline your process, policy, and people everyting in one platform.

    Why Businesses choose CRM software?

    CRM is the largest software market in the world. Enhancing customer relationships, increase sales and revenue, improving customer retention and automate communication and tasks.

  • Enhanced Customer Relationship
  • Lesser Data Entry
  • Better Communication
  • Healthier Pipeline
  • Higher Revenue
  • More Collaboration
  • Who can use CRM Software?

    Customer Relationship Management systems can be easily customized to meet the specific needs of any business type and size. Start-ups, large industries, and verticals like Healthcare, Real-Estate, insurance, Hospitality, Media, Restaurants, Tours & Travels, Banking, Tax and non-profits all use a customer relationship management software for increasing their sales, marketing, and customer support services.

    B2B:

    From managing an account’s contact information to staying up to date with business deals, payments, and reports, B2B companies do best with a sales CRM in place. It helps them create a common platform to keep their partners, vendors, and other stakeholders of their business in sync with each other.

    B2C:

    B2C companies have shorter customer life cycles, and they typically require a solution that is more direct and less time-consuming. A multi-channel CRM tool with features like lead management, sending out instant surveys, marketing automation, etc. helps B2Cs reach out to their customers more easily.

    SMBs

    Today you’re a small business, but you won’t remain so forever. You cannot afford to spend like an enterprise does on CRM software; at the same time, your size shouldn’t prevent you from enjoying CRM’s benefits. You can set yourself up for sustainable growth with a small business CRM which provides extensive features at affordable prices.

    Enterprises

    In business you’re always looking to close deals; when you’re an enterprise business you want to close big. This means more sales teams, a wider casting net, and more opportunities. A CRM system is indispensable for any enterprise that wants to bring order, clarity, and a sense of purpose to its sales process.

    How CRM Can Help Your Business?

    Automates Data Entry, Repetitive & Time Intensive Tasks. Drives Sales Team Intelligently Through Sales Process.

  • Get 360 degree view of your business.
  • Track sales & Marketing opportunities
  • Quickly See Your Next Best Action.
  • Increase Your Lead Conversion Rate.
  • Take Your Business with you Everywhere, on your mobile.
  • Features of CRM Software

    Various CRM solutions will have different sets of features, but they usually include these six major applications to help companies manage customer relationships. The following are standard in this type of software:

    Contact management. This module is used to record customer data. This includes their contact details, past transactions, calls, emails, etc. The software can aggregate all these information and show companies some patterns and trends for insights.

    Lead management. Companies need to engage prospects properly to convince them to make the purchase. Lead management helps marketers trace all communication efforts and related activities with prospects to see how the leads are progressing. The goal of lead management is to win the deal at the end.

    Campaign management. This module helps companies run email marketing or advertising campaigns. It is connected to the contact management module to target the right recipients of the campaign. It also links to the lead management module, where new leads generated by the campaign are entered. More importantly, this module can help rate the success of a campaign.

    Social media management – This module links to social media networks like Facebook, Twitter, and Pinterest so companies can manage their social pages from a single dashboard. Instead of opening separate pages to check for posts, the module notifies the manager of the latest posts from the company’s different accounts.

    Automation – This automates predictable marketing tasks of the company. Such modules include administrative processes like entering information in the customer database or scheduling email blasts. Companies can set the software to run specific tasks so they’re free to do other important things. Likewise, automation can speed up the delivery of services. For example, a campaign that promises to send a free e-book can be automated once the parameters are met. Automation can also speed up customer service, especially in resolving FAQs.

    Reporting and dashboards – This module generates reports based on data gathered in the other modules. Reports give companies insights on market trends or customer buying behavior and a summary of how the business is performing. On the other hand, dashboards let managers get an overview of reports without having to dig into files.