What is CRM?
Customer Relationship Management is the acronym for CRM. It’s a technology used to manage communication with customers and potential customers. A CRM platform helps organisations develop customer relationships and establish processes so they can boost sales, increase profitability and improve customer service.
How do we define Customer Relationship Management (CRM)?
CRM by its very name is a tool for managing relationships with your customers. The CRM refers to methodologies, software and Internet effectiveness that enable companies to manage and maintain their relationships with current and potential customers. Companies often use CRM system applications to organize, automate and synchronize and boot sales, marketing, customer service, and technical support. These applications are available through software-as-a-service (SaaS) in today’s world to technology. It helps you boost your profitability.
CRM systems provide companies with the customer data that they need so they can provide products or services that their customers want, provide better customer service, up-sell and cross-sell effectively, retain current customers, close more deals and better understand who their customers (loyal) are. More commonly, CRM refers to a system which helps with contact management, sales management, workflow processes, productivity and more.
CRM is a guide to control company’s day to day interaction with existing and potential customers. It provides us to use data analysis about customers’ history with a company to maintain business relationships with customers, particularly concentrating on customer retention and smoothly driving sales growth. CRM system compiles data from multiple communication channels, that includes company’s website, voice calls, email, chat, marketing materials, and social media.
CRM system empowers you to concentrate on your organisation’s relationships with individual person – whether those are service users, customers, suppliers or colleagues. CRM system is not just for sales purpose. Some sizable achievement in productivity can come from moving beyond CRM as a marketing and sales tool and embedding it in your company – from human resources (HR) to customer services and supply-chain management system.
Why is CRM important for your business
Every business owner know they need a strategy for the future, if their business is growing. As an entrepreneur you’ll already have targets relating to business objectives, sales and profitability. But getting updated, reliable information on your progress towards your goals can be tricky. How do you capture and translate the various streams of data falling in from sales reps, customer service teams, marketers and social media monitoring into fruitful business information?
Using a CRM software solution can give you a crystal clear overview of your customers. You can view everything in one place — user friendly configurable dashboard that can tell you a customer’s previous history with you, their order status, any outstanding customer service issues, and more.
Marketers can use online CRM platform to better understand the pipeline of sales or prospective work coming in, making forecasting simpler, correct and more accurate. You’ll have clear visibility of every lead or opportunity, showing you the clear path from enquiries to sales.You can even choose to include information from customer’s public social media activity about their likes and dislikes and what they are sharing and saying about you.
And though it’s traditionally been used as a marketing and sales tool, customer service teams are seeing great benefits from online CRM systems. Now a day’s customer might raise a concern in a single channel – say, Facebook – and then switch to email or telephone to resolve it in private. A CRM platform empowers you to manage the enquiry across multiple channels without losing track.
CRM system enables businesses to build long-term relationships with their prospects and customers by making personalized, meaningful interactions. This promotes businesses not only increase profitability but improve customer retention.
Life Without CRM
More administration, less selling.
A flood of data is generated by an active sales team. They can be meeting prospects, out on the road talking to customers and finding out important information. But all this information gets stored in laptops, handwritten notes, or inside the brain of your salespeople.
Above all this, your customers may be contacting you on different platforms – email, phone, and social media. Asking questions, following up on an order or complaining. Lack of a common platform for customer interactions, communications can be lost or missed in the bulk of information – leading to an unsatisfactory response to your customer. This will make your customer unhappy and may affect your business growth.
Details may get lost, meetings are not followed up on time and customers prioritisation can be a matter of guesswork rather than a rigorous activity based on fact. And this all can be compounded if a key sales rep moves on.
Even Though if you do successfully collect all this data, you’re faced with the challenge of making sense of it. It can be difficult to extract intelligence. Reports can be tough to create and waste precious selling time. Managers may lose sight of what their team is doing, which means that they can’t offer the right support on time – while a lack of oversight can also result in a lack of accountability from the team.
CRM & the Cloud Computing Revolution
The most significant development in CRM platform has been the move to cloud computing. With the move to cloud computing, now there is no need to install software on hundreds or thousands of desktop PCs and mobile devices. Organisations around the globe have discovered the benefits of moving data, software and services into a secure online environment.
Work from anywhere anytime
Cloud-based CRM systems, such as SalesBabu CRM, mean every user has the same information, all the time. Your sales force out on the move can access data, update it instantly after a meeting or work from any location. The same data is available to anyone who needs it, from the sales team to the customer service representatives.
CRM is quick and easy to implement. A cloud-based CRM system doesn’t need special installation and there’s no hardware set up, keeping IT costs low and removing the headache of update schedules and version control.
Normally, cloud-based CRM software are priced on the number of users who access the system and the kinds of features you need. In terms of capital outlay this can be very cost-effective, and is also extremely flexible – enabling you to scale up and add more people as your business grows. Cloud-CRM platforms such as SalesBabu CRM are flexible in terms of functionality, too – you’re not paying for any features that are not useful to you.
Online (Cloud-Based) CRM offers:
- Faster deployment
- Automatic software updates
- Cost-effectiveness and scalability
- The ability to work from any location, on any device
- Increased collaboration
What is a CRM Setup?
CRM setup is an integration of business blueprint, software tool and processes that helps to interact with your customer seamlessly to build a long-lasting relationships between companies and their customers for continued business.
CRM for Industries is not just making sales, but finding mutual success through developing relationships, and maintaining balance between humanity and science — learning about customers through data, online social interactions, and analytics. For an example, SalesBabu CRM is taking these lofty aspirations and tailoring them to meet your sector’s biggest challenges and opportunities. SalesBabu provides remarkable customer real time experience for expanding any business operations. Click her for Free Demo.
What is Online CRM Solutions?
- Online CRM Solution is a cloud based software like SalesBabu CRM, which records and monitor each activity of a sales team.
- It can be accessed from anywhere and anytime.
- It is cost effective as no IT infrastructure is required to run the software application
- Increases efficiency and results in a quality work
- Fast and easy to use as it is cloud powered
Who can use CRM Solutions?
The precise answer is that any company that needs to maintain a good relationship with their prospects and customers can benefit from using a CRM system. Whether you are a startup, a small business, or an enterprise, in the B2B or B2C space, a CRM brings order and clarity, helps improve interactions with customers, optimize sales performance, and streamlines business processes. Here’s how different business functions can benefit from adding CRM to their company.
Marketing teams can use CRM to measure ROI (Return on Investment) on their campaigns and activities. You can automate the marketing activities. It also gives them insight into whether they are targeting their ideal customer profiles, and the right geography and industry.
Sales teams can use CRM system to get a deeper understanding of their prospects and customers, and manage their sales pipeline better. The Sales CRM also helps automate everyday tasks, track and boost sales productivity, identify industry trends, and improves sales strategy.
Customer support or Helpdesk teams can use Service CRM to help improve customer retention rates. It gives them vision into the customer’s pain and their past interactions with the business and provides the tools necessary to manage activities around customer engagement.
How CRM Works?
- It monitors and records each and every activities of a sales team. It manages every details with respect to leads input, track abandonment and close rate. Guides sales team to choose a focused approach to achieve sales target. Such as, SalesBabu CRM enables you to categorize customers with all possible criteria. Can register date wise sales, region, sales details of products to never miss an opportunity.
- Automates business needs & increase sales with advanced technology. Do not compromise on quality – Satisfy your Customers with Smart Solutions
- CRM system connects the important business operations like lead, marketing, sales activities and service activities to boost the customer experience and maintain long term relationship.
- CRM system helps a company to streamline the workflow for running a business to close the gaps between marketing, sales, and customer service departments to achieve their end goal at minimal costs.
Benefits of CRM for a Business
- CRM system provides instantaneous access to all the important information, which helps to smoothly speed up the workflow in a smart way.
- Post CRM implementation, from the day one it simplifies the workflow and makes transparency in the company related to the activities
- It Provides latest and advanced reporting tool for optimizing sales process
- Quick and Easy information sharing across the company.
- Provides features like advanced tools for better collaboration among departments and with consumers for a best output
- CRM helps to improve strategy for a optimal impact on target audience through personalized marketing campaigns.
- Automating Daily Tasks
SalesBabu CRM Empowering the growth in SME Sector and Large Enterprise
SalesBabu CRM is featured with a UNIQUE SALES Management tool to aid the business process. On our CRM platform, companies can do an efficient resource planning with optimised sales forecasting, purchase planning and production management with payables and receivables to streamline their process and be better equipped in the competitive market. We provide a highly affordable, scalable and flexible CRM solutions for the companies (SMS Sector and Large Enterprise).
Our aim and motto is to provide the the NEED-BASED resolutions to our esteemed customers’. SalesBabu CRM always focused on company’s business need and their functional barriers in business processes. We come up with the best solutions to build and grow their business, bring strong, efficient and effective internal connectivity, accountability and reliability among all business functionalities at the micro-level to achieve outstanding and first rated customer satisfaction that will boost the increase in the sales in terms of revenue.
Difference between On-Premise CRM and a Cloud-Based CRM
Companies have to decide when considering which CRM system to implement. Depending on what the business objective is, there are two CRM deployment options. While the organizations might benefit from on-premise software, they shouldn’t dismiss the advantages of cloud CRM deployment.
For on-premise CRM, a company requires to buy the license in advance. The software is then placed on the company’s servers. Then the process of installation starts which takes much more time and an involvement of IT resources. Also it is buyer’s responsibility to ensure the continuous maintenance of the on-premise system, as vendor is not responsible for its flawless operation and data security post installation of the CRM software
On other side, on-demand or Cloud CRM, SaaS (software-as-a-service), stores or saves data on the vendor’s servers on cloud. In this way, the users are given full access to the database 24*7, and most important, the vendor owns all the responsibility for the non-stop operation of the system and provides all the necessary system updates, support and availability of the servers.
The only and most important requirement for cloud system accessibility is a flawless & good speed internet connection, accompanied by an affordable monthly/annual charge. Thus, cloud CRM is very fruitful both for SMBs, who operate on limited resources, and large enterprises.