What is a CRM (Customer Relationship Management) software and what does it mean?
A Customer relationship management (CRM) software is a software for managing a company’s interactions with current and future potential customers. It often involves using technology to organize, automate, and synchronize sales and marketing. It can also be used as a support tool for customer service and sometimes technical support.
FEATURES OF A CUSTOMER RELATIONSHIP MANAGMENT (CRM) SOFTWARE
Relationship, account & contact management
This is a customer-oriented feature that allows you to get control of both your accounts and business contacts.
You will get a good overview of both yours and your colleagues communication, documents, tasks, appointments leads, opportunities and closed deals related to each business contact and account.
You will also get in control of your relation status, contact information and any career change you contact might do.
This function includes that the CRM software adapts to your performance and behavior. The CRM software analyzes you pipeline and uses predictive business intelligence to proactivly know your needs.
The CRM software will let you know what it takes to reach your targets and will produce tasks automatically in order to realize salesforce automation.
Use of technology to empower the user
This feature is about using different technologies like big data and mobile technology to make “up-to-the-second” customer data available anywhere you are.
It applies big data technology in order to aggregate transaction, communication, behavior and performance information to predict your or your team’s next steps and make it easy to collaborate, and to understand your KPIs (key performance indicators).
Opportunity & pipeline management
This feature helps the sales reps. and the company to manage and understand unpredictable growth and demand and implement both relevant sales processes and a good forecasting model to integrate sales history with sales projections.
If you are more than two people or manage more than 10 business opportunities you benefit from this feature. You get control over both individual opportunities and the overall sales pipeline.
Sales process support
A good Customer relationship Management (CRM) software also include process management and sales process support. The software allows for you to create predefined processes based on how you want or is used to sell.
The CRM software will guide you through the activities you most likely need to perform to close a deal. This feature will give both the sales rep. and management control on what has been done and what remains to do to finish the opportunity.
A more modern and empowering CRM software also allow you to add as many processes as you want/need and let you choose what process to apply for each individual business opportunity.
Marketing and lead automation
A good Customer relationship management (CRM) software also support the marketing department. The CRM software allow for publishing multi step marketing campaigns over several channels.
The CRM software provide lead auomation and track and measure marketing campaigns based on how successful the campaigns are in terms of how many leads, opportunities and closed orders they generate.
The CRM software including marketing automation also helps on making it clear what channels deliver the best results.
5 REASONS WHY CRM IMPROVES YOUR SALES
Here are the top 5 reasons why you should have a CRM running in your business:
- Having extensive control of your business opportunities and customer relationships is probably the easiest way to know where and how to improve. Also, to keep customers’ hard earned trust, you will probably need a system. This will help you keep their best interest in mind when they need it the most. Having a CRM will help you get this level control.
- With the right CRM you will find it easier to more efficiently prioritize your work and to stay focused at getting results. Ideas and actions plans are hardly what is missing, often it’s the quality of the plan and lack of focus that will determine the success of business opportunities.
- Modern sales is performed in teams, where team members complement each other’s strengths and weaknesses and come out on top by collaborating. Having a CRM will improve collaboration through shorter decision processes and faster sharing of progress regarding business opportunities.
- With greater overview of this business managers’ can more easily direct their attention where it is most needed. This will reduce their need for extensive follow-up and instead utilize their talents for leading their team and growing the business.
- Apart from helping to increase sales CRMs can also help to keep costs to a minimum. Knowing what you know from having complete control of customer relationships will help you reduce costs for customer acquisition.
CEO & Founder Salesbox