A CRM platform helps companies target different audiences, set hits and alerts based on an individual lead or customer activity, work proactively with contacts, and maintain relationships. Best of all, the CRM system can be used across departments to ensure all customer-facing teams are empowered with the right data to create amazing customer experiences.
The concept of customer relationship management (CRM)
Customer Relationship Management (CRM) is a single software platform that allows companies to manage and monitor customer relationships with existing and potential customers. With a good CRM, your business can save money, resources, and time, but if you find the right CRM for your business needs, you will save a lot.
How does CRM software work?
CRM software allows companies to track customer interactions, store data securely, share information with colleagues, and manage and acquire leads.
If you struggle to keep track of your customer information or have an ever-growing database, you can benefit from CRM software. No matter the size of your business, automating your processes will inevitably save you money and time.
Top Benefits of Corporate Customer Relationships (CRM)
1. Maintain a central database
CRMs allow the entire sales organization to keep all potential information - over any period of time - in a central database. This allows for quick access between the team as well as the ability to easily manage all information via a common location. CRMs help reps avoid spending time searching through files and records to find the information they need about prospects to pursue and close deals.
2. Manage all communications and interactions with potential clients
All communication, internal (rep to rep) and external (rep to lead), can be managed through CRM. This allows representatives to track all parts of the buyer's journey, including every interaction, email, phone call, and more.
For example, a customer relationship management (CRM) system will help a rep determine if and when they need to communicate again with a potential customer. This will also help your reps remember whether or not they actually sent a potential customer the resources they requested.
3. Collaboration simplified
Your CRM acts as a record of your conversations, interactions, needs, notes, and contact information. And if it's cloud-based, it's always up-to-date, and your teammates can easily see its logs to make decisions.
In addition, some CRM platforms have built-in collaboration tools that allow multiple people to work on a single file at once or follow the progress of a document, such as a sales quote.
Anyone with access to your CRM can work together through this shared record. For example, when a salesperson is talking to a customer and learning more about them, they can fill in certain fields in that person's record or make notes on their file. This helps ensure that the rest of the team is working to the latest detail and to the best of their abilities.
4. Automate data entry
With CRM, your team will never have to spend time logging emails, calls, meetings, and interactions - all of this information will be automatically collected and aggregated within the system.
In addition, CRM allows representatives to update all deals depending on what stage they are in - and then, the system will automatically handle the rest (such as weighting, summing and visualization), making this process as efficient as possible for everyone involved.
5. Follow up with potential clients
The CRM tracks all of your potential activity, helping your representatives know when they need to follow up with specific prospects. When reps are reminded of specific follow-ups, they are able to schedule their call at a time when their support would be most helpful to a prospect. This way, reps increase their chances of converting more of these leads into customers.
6. Organizing contact information
CRM allows your team to easily track every contact (and the data on them), no matter what stage of the buyer's journey they are. In fact, reps will be able to tell if the contact has visited your company's website, downloaded content from the site, or has already spoken with another member of your sales team.