WHAT IS CRM? THE ULTIMATE CRM GUIDE 2020

WHAT IS CRM? THE ULTIMATE CRM GUIDE 2020

WHAT IS CRM? THE ULTIMATE CRM GUIDE 2020

Youprobably have heard about CRM. If not, don't worry; you are not the only one.22% of salespeople have no idea about CRM tools. And, 40% still use manualmethods like spreadsheets and email programs, for customer data storage.Considering that CRM applications can help boost sales by up to 29%, it's vitalto know how to use this technology to nurture buyers down your sales funnel andcontinue the relationship once the deal is closed.

Checkout our guide on customer relationship management to know what CRM is, why CRMis important for business, how to select the best CRM software and also how tomake the most of your CRM software?

Introduction

CRM orCustomer Relationship Management is a practice used by organizations tomaintain interactions with their potential customers. CRM software helpsbusinesses to record their customer contact information including name, contactnumbers, emails and also addresses. Moreover, this software also keeps track ofcustomers' activities like purchase preference, time and duration of theirstore visit, returns and more. CRM systems assist companies to stay connectedto their customers, streamline the sales, marketing, and support processes, toenhance productivity and profitability.

Findingthe Perfect and Best CRM platform

What is the best CRM? It is not possible to name any software.  CRM software is divided into three capability categories: operational, analytical and the last one is collaborative. However, every CRM should hold these capabilities, different companies lean more towards a specific one according to their needs.

Operational CRM: Operational CRMs are mainly involvedin supporting the management of the daily activities of the company. Likeinstead of reps having to manually make customer records, the CRM insertscustomer contact data into the platform. This kind of software works perfectlyfor companies with short sales cycles as these CRMs are very efficient.

Analytical CRMs: As the name suggests, Analytical CRMNsorganize and manage large quantities of data to gain insights on the customerexperience. For example, analyze your past buying behaviour within your CRM toknow what promotion activities to roll out for certain customer segments. Ananalytical CRM is perfect for companies going through tough competition andmultiple customer data points.

Collaborative CRMs: Collaborative CRMs are used to connectcommunication and data in the different departments of the company mainly,sales, market, and support departments. This integration brings a seamlesscustomer experience. Like when the support team can see the conversations thatsales reps are having with customers, they can provide better service thatmatches the reps' messaging. Collaborative is a perfect choice for companies tomanage pools of data across different departments.

Besides,there are many more factors that go into selecting a CRM. Do you wish to createyour own or use a tool that is already created? What are the goals of your CRM?How much you are okay to spend on the software? What is the best CRM tool thatyou need?  All of these are major considerations as the costs of selectingthe wrong CRM are high.

What Does A CRM System Do?

What does CRM software actually do and what is it used for? Here's a simplified list:

Createsa Customer-Centric Focus

  • Assists you find every customer, contact and communicationquickly
  • Enhances post-sales service and support
  • Increases customer loyalty and retention

BoostSales and Profit

  • Categorises and prioritises leads
  • Tracks your leads from end to end
  • Automates the entire sales process
  • Maintain your tasks and appointments

Createsa Centralised Hub with Everything in One Place

  • Bring total visibility that ends the major issue ofduplication
  • Enhances the collaboration in team
  • Facilitates remote work forces
  • Streamlines the processes by integrating the other systemsused in the company

ProvidesInsight and Reporting

  • Provide accurate, detailed reports and forecasts
  • Present complete customer activity insight
  • Manage marketing ROI

The Advantages of Using a CRM

It becomes easy to provide a positive buying experience when you have an idea about your prospect. Watching at a single glance every blog post, email, and eBook they have opened and or read along with key details like their company's size, location and vertical, provides you a major leg up. You can easily personalize your messaging and provide more value from the start.

Increased Collaboration

Asales manager can instantly check how and when his salespeople are reaching outto and following up with buyers. The account executive can easily fill him inon an opportunity his sales development has prospected and qualified for him.Employees in the sales team can learn about each other's best practices andpinch-hit for each whenever someone is not present. Overall, a CRM boost repcollaboration and efficiency.

 Better Insights

If youare wondering how your salespeople are doing. Here, CRM can provide youhigh-level as well as on-the-group picture of rep performance, team-wide andindividual conversion rates by deal stage, average deal size, deal velocity andthat is just scratching the surface. Imagine what you can do with thisdata-backed understanding of what's working and what needs improvement.

Higher Productivity

Canyou believe you can automate your task with a CRM? CRM software automates taskslike call and activity logging, reporting, deal creation, and many more. Theless time reps are spending on administrative work, the better the number ofhours they have to get before prospects. Your revenue will go upproportionally.

ImportantFeatures to Look Out in a CRM

The features you need depend on your business. There are various levels of features from the basic to those all the bells and whistles. Cost is the major key factor but it is also worth considering which features you actually require.

Basic CRM Sales Features

Abasic CRM covers contact management and opportunity management. It allows youto find your customers and past communications and also track your sales leads.However, there are some little extras that make major differences in how youuse the CRM. Go for that software that you can customize with your own fieldsand settings to reflect your entire sales process. Basic CRM sales features canbe the best CRM for entrepreneurs.

Reports

Manysmall business CRMs do not cover much in terms of reporting. Perfect CRMsoftware incorporates a Sales Forecast report writer and Listing Report writerfor ad-hoc activity. In case, you are not able to unlock the insights of yourCRM it will be nothing more than a contact management system.

Email Integration

Mainly,all companies want CRM with email integration. It captures your emails to andfrom your contacts automatically and gives a full history of yourcommunication. For this online market, email integration is an essential partof customer relationship management.

Automation

Inthis digital market, even small businesses need CRM with automation features.It helps in bringing efficiency and increases productivity by automating themanual processes. Your different actions in the CRM trigger workflows to finisha task as per a set of rules that you define. It might mean triggering thebilling process when a sale closes or an email reminder when a warranty dateexpires.

Marketing Integration

Go forthe CRM with integrated marketing. It will allow you to run email campaignsdirectly from your system and record your contacts' interaction back to theiraccount. With time, you will be able to build up valuable data on theirbehaviour and interest that enables you to tackle their needs in the comingdays.

Bottom Line

As afinal word, adopting modern trends or going through any transition is not apiece of cake. Yet with sound and proper planning companies can glide throughthis change smoothly and bring better result.

 As CRM is going to stay for a longer haul, notadopting it as a solution to enhance your activities in sales, marketing, datamanagement and other parts of business is not the right decision. Instead, knowyour goals, what to expect from the whole implement process, get the right CRMvendor and communicate all your concerns with the best CRM service provider.And get started. The sooner you begin,the better it will result.

Hopeyour find this article interesting and informative. If you want to add anypoint that we missed, please let us know in the comment section below.

Relevant Blogs:

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