The rough definition of CRM is a system that helps a business or other organizations manage its synergy with customers. The first idea of customer relationship management started in the early ’70 of the last century by measuring customer satisfaction with the survey method “door-to-door” by sales agents.
In the middle of 1990, software developers started creating software for CRM that will help businesses maximize and increase interaction with their customers. In the past ten years, CRM systems have become a necessary tool for any business to connect all data in one place, meaning all sales and customer information.
Using CRM, you can have records about all communication with customers, analyze all this data and use the result to improve customer service, convert leads, and increase your sales and business.
How CRM Works
CRM tracks the complete customer life-cycle, and if you want your CRM to work properly, your sales, marketing, and customer support teams must all be included in the system. CRM collects leads, helps convert leads into customers, and collected information helps your sales teams and your customer support team to be successful.
Moreover, CRM system tools gather data about interactions between customers and your company via contact forms, search engines, emails, and social media involvements, and also from phone calls done by your salespersons.
Benefits That You Will Get From Using CRM
1. Better Customer Service
With a CRM database of your customer purchases, their behavior, and information from previous correspondence, your customer service will be ready to help on any occasion, without answering the same questions.
With the help of such as system, it will increase customer trust, your customers will feel appreciated, and the help provided will be more accurate and concrete.
2. Increased Sales
CRM will very simply help you to increase your sales. It will help you improve the overall sales process, automate repetitive tasks, build pipelines and analyze sales data. Also, it will increase your sales volume and sales productivity by saving your sales team precious time with automatization.
3. Improved Customer Retention
When your customer service support teams use CRM tools for automated problem ticketing and behavioral analysis, these automatizations will increase customer retention rates significantly.
These tools will foresee negative stir-ups, and your employees can react on time, so your customer satisfaction will not suffer. They will also trigger a response from human agents to provide more detailed help when needed.
4. Detailed Analytics
CRM analytical tools will make all data relevant to your business available and correct. So when all marketing, sales, and financial data are combined and CRM reports made, the output will be visible metrics and clear presentations (sheets, charts, reports, etc.). All of these reports will have detailed analytics included so that you will see the real picture of your business.
5. Information Database
With a CRM database, you can build an excellent knowledge base in your company. Good communication is extremely important among coworkers. Misunderstanding or lack of knowledge can lead to unprofessional results, which will need to be repaired and consume a lot of valuable time.
One efficient, complete, and useful knowledge base that all your team members will access will lead to best practice workflows. They will be more efficient and get work done faster and without errors. With all this, your customers will be more satisfied and will return.
6. Customer Segmentation
As we explained, CRM gathers all your customer and sales data in one place. If we assume that your business is a successful one, there will be a lot of data about your customers.
So, a CRM will help you segment your customer data with criteria that you have set, matching the right customers with the right products. Then, the customer contact data can be filtered by location, preferences, age, geostrategic data, etc.
7. Sales Reports and Sales Forecasting
Without correct information, you won’t provide accurate reports or forecasting for your sales. With CRM software features constructed for reporting, all sales reports can be done automatically. Employees can run reports they need anytime and have insights into aspects of their workflow when they need them. They can track their goals, check projects, and see if they are making progress.
With accurate CRM reports, the sales team will create correct forecasts for the future period. Forecasts are usually done for one month, three months, or one year. With these forecasts, you will see key trends in your field of work and set more accurate goals for future projects. All this by using automatized CRM reports tools.
Using a CRM software system, you will atomize, organize and improve your everyday work process. Repetitive tasks will be eliminated, errors will be reduced, and communication among your employees and customers will be improved.
Your entire team will benefit from this. With all benefits of using CRM, you will have satisfied customers, increased sales, and successful business.