There was a time when CRM was termed to be a failure in terms of generating revenue for the business and was treated as a liability for the company. But, CRM system has evolved over the decades. And presently, the Customer Relationship Management Software has become the buzzword in the market. From bug enterprises to small businesses and startups are making use of the CRM system.
What is Customer Relationship Management?
Customer Relationship Management is an approach in order to manage the company’s interaction with the current customer. It is one such management process in which the companies can maintain a good relationship and stay connected to the customers. In turn it also improves the profitability of the company.
What is Customer Relationship Management Software?
A CRM software is a business tool which comes with certain automated features that not just maintains a good relationship with your customers but also helps you to manage your business activities efficiently.
It helps you to store business and customer data in a single platform. It helps you to keep track of sales activities, customer interactions, marketing campaigns and prepare automated reports etc.
How does CRM work?
CRM solutions include the functionalities which will allow the users to track the customers and interactions of the company through various available channels. These channels include all the contact forms, phone calls, emails, and still more.
CRM software will provide the sales and marketing teams with a collection of tools to manage the complete marketing and sales funnel, ranging from the lead qualification to opportunity management, forecasting, and deal closure. It will enable the customer service teams to manage the requests of the customers and automate the service operations by following predefined processes for customer care excellence.
CRM systems are packed with all the tracking features which record numerous customer interactions online. In addition, CRM also automates the routine processes and provides the managers with the tools which permit tracking and measuring the performance and productivity of the company. For instance, CRM software will remind you of the tasks that you simply must complete at a given time. You can make it perform pre-scheduled activities such as sending the emails and initiating the phone calls. Everything that is through the CRM is recorded, providing you adequate time to form better action plans to shut the potential sales. Some of the CRMs will also offer analytics capabilities that allow the users to track the efficiency of varied marketing efforts to generate the leads and the conversions.
What are the building blocks of CRM system?
- Customer experience
- Organisation Collaboration
- Information and insight
Industry overview of CRM system
The most common question asked in the business industry is – who can use CRM application or Services? There is a huge variety in the industries that has a specific use of the CRM software. The industries that CRM helps to connect with their customers seamlessly are –
- Manufacturing industry
- Service industry
- FMCG industry
- Retail industry
- Travelling industry
- Educational organisations or institutions
Why CRM system?
In a recent research it was stated that customers do not flip because of the change in the prices of the product once they have been a usual customer, but they flip to other products when they get a poor customer service. Thus, maintaining a good customer service becomes very important to retain your customers. When you make efforts to reach their expectations they will surely be satisfied and the chances of flipping to other products becomes less.
Technologies have their own impact on us, these days. We all have updated and upgraded ourselves. Most of us use smartphones for our daily works, which has in turn made our work much easier and faster. Even with your smartphone you can manage your business activities from any corner of the world.
Here are the reasons why a CRM system can proved beneficial for the business?
- CRM system provides explicit customer history
- CRM system helps in the analyzation of data
- CRM eliminates manual entries
- CRM reduces extra costs
- CRM provides an overview about the customer preferences
- CRM helps to prioritize workflow and saves time eventually
- CRM helps to acquire new customers
- CRM satisfies the human resources
- CRM improves brand image
- CRM helps to maintain a good relationship with customer
To know more, read the blog – Why CRM Software?
Thus, implementing a CRM system for your business can turn out to be effective for the business as it helps in managing the entire business process from sales to customer service with the help of its automated features.
Features of CRM System
1. Sales Force Automation
Sales Force Automation Software’s prime motto is to streamline interaction of organization executives with their customers. The major benefits of using a Sales Force Automation software are –
- The Sales Force Automation software streamlines sales force as the sales rep can store each and every customer data on a single platform.
- The use of Sales CRM helps in increasing the sales productivity of the sales reps. You may be sales rep at the office, in the field or you just work inside the email inbox, the sales CRM helps you to complete your sales tasks smoothly and thus improves productivity.
- The Sales pipeline forecast helps you to get an overlook on the future expectations or say predictions regarding the expected closure or follow-ups.
- The evaluation of your sales rep’s efforts can be done easily with the help of Target vs. Achievement analysis feature in the sales CRM. It gives a complete analysis of the completed achievements against the assigned targets.
- The Sales CRM helps you to manage contacts, purchase history and preferences of your clients, customers in a single database.
- The Sales Force Automation software can be accessed from anywhere, at anytime with the availability of internet connection. Thus, it provides Real time information and updates to the users of the system.
Read our blog – Sales Force Automation Software | Cloud Based CRM Software
2. Sales Tracking
A Sales Tracking software helps you maintain effective sales forecasting and capabilities that automate, streamline, synchronize all the sales activities. The major benefits of using a sales tracking software are –
- The sales tracking system helps you to track all the leads and also provides complete information of the leads on a single platform.
- The sales tracking software also records the entire conversation carried out during the process of a lead getting converted into a sale.
- The sales tracking software makes follow-up management easier and smoother.
- It also helps you to manage all products, product specifications and other details.
- The sales tracking also offers visibility of sales process.
3. Lead Tracking
Lead tracking is a process of documenting and classifying prospective customers based on individual actions and sales reps touches. The major benefits of lead tracking software are –
- The automated system ensures there are no leaks in the sales process. Thus, the lead tracker helps you track the right prospects at the right time.
- The lead management software has efficient tools that helps to filter the quality leads.
- The lead tracker also comes with the added advantage of predicting the closure of a particular lead.
- The lead tracker tracker helps in tracking the activities of the prospects. Thus, you can prioritize your leads based on the interests and needs.
- Lastly, the lead tracking system eliminates more time consumption of the sales reps as well as the marketing reps.
Read our blog – CRM and Lead Management
4. Sales Forecasting
Sales forecasting software facilitates uniform information capturing and data retrieval pertaining to help decision makers to review sales trends for developing strategic and tactical plans for business. The benefits of Sales Forecasting software are –
- The sales forecasting software calculates various perspectives like lead source, number of leads, number of leads responded, number of leads closed which is shown in diagrammatic manner.
- The sales forecasting also helps you to plan the sales process and make it much better.
5. Market Automation
A market automation system is a software platform and technology designed for marketing reps to efficiently carry out marketing activities through various sources like email, websites, social media etc. The major benefits of Market Automation software are-
- The primary task of the market automation software is to generate leads via lead producing sources like emails, tele-calling and SMS etc.
- The market automation software provides email and SMS campaigns and helps you to reach the right customers at the right time.
Read our blog – Marketing Automation Software| The Best Emerging Sales Tool | SalesBabu CRM
6. CRM Analytics
CRM Analytics are presentation of requisite data in the form of graphical charts, metric analytics and MIS reports etc. They save your time and provide you with accurate information. The major benefits of CRM Analytics are –
- The CRM analytics offers user home dashboard which lets the user to get opt information required to start their job with to-do list, customer conversations etc.
- The CRM analytics provides automated MIS and reports which eliminates the time spent on preparation of reports. They are one of the most accurate forms of information which also eliminates the possibility of manual entries.
Which is one of the best CRM System?
CRM industry is a vast industry where there are multiple options in the market and it is quite difficult to judge which online CRM will fit in your business processes. Customers always believe on a proven track record and trusted infrastructure.
SalesBabu Cloud based CRM Solutions is more advantageous because of its ability to manage and access data from anywhere you are located, data encryption algorithms security model, reduce the computer hardware dependency, and it get fits to all industry verticals easily. The final word about the use of cloud based CRM software to grow business is to enhance the business activities, save money and time, be aware of the complexities faced by the customers and stay ahead of the competitors in the game. The cloud CRM application can be used in your smartphones with a single click and you can be more productive throughout. If you are still not using a cloud based CRM, then visit our website https://www.salesbabu.com/ at SalesBabuCRM Solutions and request for a free demo. You can also have a look at our emerging trends at SalesBabu Online CRM.