In general, knowing that companies have unique business wants, it is wise they steer clear of going for a one-size-fits-all, “perfect” CRM software solution. However, it would be hard to pinpoint such a software solution even among branded software solutions.
All in all, the practicable thing to undertake should be to write down the various vital factors which need investigation. Like key features, packages, technical skill levels of the users, company size, etc. Next, you should perform the product research to a full extent.
As an example, you can browse through some of the best tools to review articles (like Bitrix24).
And even scrutinize each of the applications in your shortlist more closely. For sure, such comprehensive product research ascertains you avoid unsuitable software solutions.
Be that as it may, make sure you subscribe to the system that delivers all the benefits your business requires.
What is CRM?
When people talk about CRM, they are usually referring to a Customer Relationship Management System (like Salesforce). Whereby, it’s a tool that is used for contact management, sales management, productivity, and more.
On the other hand, the goal of a CRM system is simple. Whereas, it allows you to improve business relationships.
1. CRM as Technology
This is a technology product, often in the cloud, that teams use to record, report and analyze interactions between the company and users.
This is also called a CRM system or solution.
2. CRM as a Strategy
This is a business’ philosophy about how relationships with customers and potential customers should be managed
3. CRM as a Process
Think of this as a system a business adopts to nurture and manage those relationships.
Why is Customer Relationship Management important?
In the first place, a credible Customer Relationship Management enables a business to deepen its relationships with customers. As well as, the service users, colleagues, partners, and suppliers.
Bearing in mind, forging good relationships and keeping track of prospects and customers is crucial for customer acquisition and retention. After all, which is at the heart of a CRM’s function.
Meaning, you can see everything in one place. Through a simple, customizable dashboard that can tell you a customer’s previous history with you. Not forgetting, the status of their orders, any outstanding customer service issues, and more.
In fact, Gartner predicts that by 2021, CRM technology will be the single largest revenue area of spending on enterprise software.
So, if your business is going to last, you know that you need a strategy for the future. For forward-thinking businesses, CRM is the framework for that strategy.
a. Understanding Sales Pipeline
In addition, sales managers can access reliable information about the progress of individual team members in achieving their sales targets.
And, for example, see how well individual sales teams, products, and campaigns are performing too.
Sales reps benefit from reduced admin, a deeper understanding of their clients, and the opportunity to spend more time selling and less time inputting data.
b. Simplified Trends Forecasting
It’s also possible to include information from customers’ public social media activity. And obviously, their likes and dislikes, and their sentiment about specific brands and businesses.
c. Tracking Conversation Channels
As an example, a customer might raise an issue in one channel – say, Twitter or Facebook – but then switch to email, phone or live chat to resolve it in private.
Therefore, without a common platform for customer interactions, communications can be missed or lost in the flood of information. Leading to an unsatisfactory response to a valued customer.
d. Better Relationship Management
By tracking meetings with suppliers and partners, record requests made, add useful notes, schedule follow-ups and stay on top of expected next steps.
Reporting enables businesses to compare the efficiency of suppliers and so manage their entire supply chain more effectively.
e. Tracking Employee Performance
Is CRM Software Useful?
Of course, Yes! A Customer Relationship Management Platform or Software (like Bitrix24) records your customer contact information.
Such as email, telephone, website social media profile, and more. Additionally, it can also automatically pull in other information. Like recent news about the company’s activity. And eventually, it can even store additional details. Such as a client’s personal preferences on communications.
Uniquely, the Customer Relationship Management System organizes this information to give you a complete record of individuals and companies. So that you can better understand your relationship over time.
On the other hand, Customer Relationship Management Software improves customer relationship management too. By creating a 360° view of the customer. Or even, capturing their interactions with the business. And by surfacing the information needed to have better conversations with customers.
Below are more benefits of a CRM system;