Customer Relationship Management (CRM)
Management of the customer relationship (CRM) is an approach to business that emphasizes maintaining good relations with customers. It believes that keeping these relationships boosts the growth of your business and increases profitability. There are two key components of this strategy based on customer service:
1. A uniform face for the client
2. Offering a seamless customer experience
CRM software can assist in the synchronization of customer communications between business divisions. Marketing, sales and customer service will connect to the same platform. It serves as a database for customer accounts and contacts all through the lifecycle of the customer. With CRM software, businesses can monitor and automate, analyse, and improve customer interactions. In essence CRM is a record of contact details and history of interactions for each contact.
Different departments could be using the CRM within a single organization. This includes sales, marketing, customer success, service or sales as well as other departments as well.
In general the context of customer relationship management technology, it includes the following types of capabilities: Customer Data Management
CRM software organizes and collects information about customers. This includes contact details and interactions with email or phone, as well as web chat and social media.
Sales Acceleration and Enablement
CRM software can simplify and automate duties related to sales. This allows sales reps to complete their jobs better, and improves sales cycle efficiency through automation routine tasks. This could include:
- Quotes are created by creating quotes
- Processing orders
- Updated contact information
- Sending emails
- Sales forecasting
- Evaluation of the performance of employees
Being the source for automation of sales force features CRM systems are among the most well-established forms in selling speed technology. They are also regarded as an instrument for selling enablement.
A lot of CRM software packages contain marketing automation capabilities. Others integrate with specific marketing automation software. A few of the features to look out for are:
- Email marketing
- Lead management
- Qualification and lead scoring
- Landing page creation
- Web-based forms
- Marketing analytics
Customer Service & Support
The CRM software that is sold typically has customer support features. Some are also integrated with standalone software for customer supportSupport features for customers could include:
- Knowledge bases
- Ticketing systems
- Live chat
- Portals for Customer Support
Additional Features & Considerations
Certain CRM software programs provide project management as well as social media management capabilities. Other factors to consider when looking at CRM software are:
- Deployment type (on-premise vs. hosted)
- Options for customizing
- Mobile access
- Privacy and security
- Integration ease
Benefits of Using a CRM System
CRM systems have a myriad of advantages both for small and large enterprises. If properly implemented CRM has the potential to:
- A single place to store customer information
- Increase visibility into the marketing, sales and customer service processes
- Improve customer communications
- Reduce sales cycles
- Enhance customer retention
- Help businesses understand and meet the requirements of customers
- Improve customer satisfaction
- Automate tasks
- Enhance operational efficiency
- Employees can concentrate on interactions with customers
Marketing CRM Software
CRMs tend to be focused on sales. However, there are advantages to marketing too. Marketers typically store prospects in CRM systems and frequently assist with the management of databases.
The integration of CRM systems into Marketing Automation, CMS and eCommerce platforms will help increase the effectiveness of marketing campaigns. The information in your CRM can help marketers tailor their messages by these tools to appropriate individuals. The messages can be recorded within the CRM. Marketers also can use CRM software to monitor marketing objectives, such as leads engaged in the process and leads sent to sales. A shared database will help to align marketing and sales activities and also.
Multi Functional marketing software usually includes CRM and marketing automation capabilities. They typically also include SEO, content management as well as social marketing and eCommerce capabilities. These tools are designed for small businesses seeking simple features. Larger corporations tend to prefer an integrated approach that combines their CRM, marketing automation, and other tools.
CRM System Comparison
Here are two important things to take into consideration when looking at different CRM software applications:
1. Do you require a CRM system that was specifically designed for a particular department or industry? Some CRMs are developed with a specific usage situation in mind, for instance, pipedrive is specifically designed for sales. There is also a variety of CRM software that has been developed specifically to be used in the financial service sector.
2. Do you need an easy-to-use and cost-effective CRM system or a more complete solution that allows more customization and has advanced capabilities? There are CRM solutions that cover both ends of the range, as well as products that lie in between. Advanced solutions could have a longer implementation time as well as a more steep education curve and might require a dedicated administrator. However light CRM systems might require less time to set up and get up and running, however they might not offer the same range of features that are available.