Published on April 22nd, 2020 | by Sumit Bhowal0
What Is a CRM System and How Can I Benefit from CRM Software?
Technology has become a way of life these days and the implementation of it in your business has become an extremely important necessity. Most companies rely on a suite of software and platforms to perform their daily tasks and streamline their processes. One of the most commonly used applications is that of a CRM system which marries various business critical functions. CRM stands for Customer Relationship Management, but it has grown well beyond the management of client interactions and relationships in a centralized platform it was originally developed for.
Features of a CRM system
Understanding how a CRM system can be beneficial to your business begins with familiarising yourself with its key features:
- Managing Contacts – The base of any business is its customers and potential customer. Using a CRM system allows you to keep all contact details and history of communication with a client in one place.
- Managing Leads – Lead management is an essential tool for a sales and marketing team in order to track all activities and targets. Each stage of the sales process is outlined and tracked from prospecting to conversion.
- Forecasting – Reports help your sales team visualize and track progress accurately, giving them better insight into forecasting their future sales. These reports also provide a tangible means of evaluating KPI’s for all levels of management.
- Messaging – CRM software includes a messaging function which allows for real-time communication between co-workers to minimize issues related to sales opportunities.
- Email Integration – CRM software can sync multiple email platforms allowing for a unified view of all communication. Using a single platform increases efficiency due to this unified viewing and single login.
- File Sharing – A central point of contact for all content and documents for users to upload and share through a single dashboard.
- Analytics – All information stored in the system are compiled and compressed using analytical algorithms and presented via the user dashboard.
These fundamental functions may be further improved than indicated, depending on your provider of choice. For example, there are CRM systems which allow for enhanced automation and alerts of selected processes.
Why should a CRM system matter to your business?
If your business is to succeed in the modern day, it is necessary to invest in enterprise software which improves efficiency and the way you deal with your clients. Keeping track of these clients and communications is where CRM software becomes a necessity, especially when your company begins to expand and tracking individual goals and targets becomes that much more important. With a CRM system in place you get real-time, reliable data regarding your progress that makes sense and valuable analytics specific to your various sales channels, especially online and social media.
We always talk about putting our customers first, but with a CRM system you start to understand your clients likes and needs that much better, enabling you to present the client with a better product or service and address issues in any aspect of the operation. Regardless of what stage a sale may be in, you will be able to view all interactions with the client and although most features are to the benefit of sales and marketing, customer service departments can also benefit from the data produced on this platform.
In conclusion, running a business without the use of technology these days is asking for trouble. Whether you are a small, medium or large enterprise, you need to consider the value and role these software solutions such as a CRM system can play on promoting effective and efficient businesses processes. If you are not yet using any platforms, start today and watch your business grow from strength to strength.