What is CRM? In this guide, not only you will know the answer but you’re probably going to use what you learn here to make your business more efficient and more profitable because operating a business has its challenges every day. So, let’s get started.
You know that you have to make decisions that affect your employees. There are certain tasks in a running a company. Whether you’re deciding what kind of coffee to buy for the office, how much you need spend on recruiting or which software is best for managing your sales pipeline. You wear a lot of hats and we’re sure that on top of all of that, managing your customer relationships is one of your major priorities.
If you don’t know what CRM stands for or why you might need it? Don’t worry because you’re not alone. But in this guide, not only will you know exactly what CRM is but you’ll probably be scheming up a few different ways that how using a CRM system will dramatically improve your business and boost your profits. So, let’s get to it.
The acronym CRM stands for customer relationship management but that’s pretty general. You may not understand anything from this definition.
What does customer relationship management actually mean for business? Why is it necessary to have a customer relationship management system? CRM in its simplest form is a way to manage leads, managing the portfolio of people interested in your business and your existing customers in the most efficient way possible to extract the most value or say money. Specifically, it refers to the system that a company uses to analyze customer interactions and measure data throughout the customer lifecycle.
The Goal Of CRM System
The goal of CRM is to improve business relationships with customers through retention and acquisition. When you’re able to effectively manage your leads and your customers, you build a loyal customer base who become your advocate and customers have a better experience with your company. Whether you’re a small business looking for a place to store information and want it to be accessible across multiple devices or you’ve a larger business and wanting to manage customer interactions and focus on improving customer satisfaction, you’ll want a CRM software. Many businesses initially try to solve these issues by using spreadsheets, emails and other old traditional ways of management. It’s never too early to start using a CRM system because it simply makes everything much easier. So now let’s look at five ways which benefited you and your company by using the CRM.
#1 Better Data Organization:
You’ll have much better data organization. Just import your list of leads, contacts and customers into your CRM and start tracking sales and engagement with leads and customers.
#2 Enhanced Communication:
You’ll have enhanced communication make it easy for your sales team to follow up with outstanding proposals by scheduling automatic reminders and creating a set of email templates.
#3 Shared Information:
You can easily share information by giving your sales team access to the same resources through selective data sharing. For example, a CRM in the real estate space can provide agents with real time information to help them close deals quickly.
#4 Catch All Leads:
Just create web to lead forms and embed them into your contact pages on your website. The information that is captured will automatically be pushed to your CRM and assign it to the appropriate salesperson which allows for a quick follow-up so you don’t lose sales.
#5 Know Your Numbers:
You can schedule weekly emailed reports. So, each of your sales team members know how close they are to achieving their monthly quarterly and annual goals.
In fact, in a recent survey of users who have a CRM system, 67% of them said using a CRM system helped them better follow up on opportunities and leads. 56% of them said it improved customer relationships because all customer interactions are accessible in one place. Just think of a CRM as a tool you need to manage business relationships, practices and processes. After all, it’s not a tactic, it’s a strategy. It helps you manage more than just your business context but also your vendor relationships, internal sales activities with marketing teams.
An effective CRM helps you gain insight into your business sales performance. So, you can adjust your strategies based on trends. You’ll also help your sales team stay on task by setting up something called automatic workflow rules which are basically automated actions and messages that are triggered by certain events. This ensures interactions with potential customers.
It saves your time from having to repeat the same steps over and over again. As you can imagine there are certainly a lot of benefits to implementing a CRM system in your business.
Problems That Having A CRM Will Solve
Let’s take a look at some very common problems that having a CRM can help you to solve.
Feel like you’re swimming in information and can’t keep track of it.
- You’re losing business because leads are falling through the cracks.
- You have no idea if your marketing dollars are helping or hurting your business.
- You waste time try to find emails from a customer.
- You’re missing appointments and not following through on all of your tasks.
- You have no idea if your business is growing or how it’s growing.
- Your customers have to repeat themselves every time they call your business.
- Each person on your sales team has a different sales process.
- You lost a hot lead or list of leads when an employee left your company.
- There’s no consistency and email messaging sent to your leads.
- You have no idea if your Google AdWords campaigns are profitable because most sales closed offline.
- Your sales team has no way of prioritizing their task list. You don’t have any way of collaborating as a team.
As you can see a good CRM lends itself to solving several different problems that rear their ugly heads in every business.
In Conclusion To Customer Management System
Now that you’re an expert on what CRM is, how it helps and why businesses should use it. Start thinking about ways in which it can help your business. I’m sure you’ve already got a few ideas brewing in that brain of yours.
Many companies gets their own custom CRM system developed according to their needs. Major companies have a model they like to use with CRM. Now you’re well on your way to doing just that. Good luck and feel free to visit us at Greenice where you can learn more about CRM and sign up for free.
We hope you now have an idea about managing businesses. If you are still facing any problem, please let us know in the comment section below. Have a great day ahead. Thanks.