What is CRM

what is crm

Almost everyone today has heard of the term CRM atleast once , if not we are going to know more about it.
For starters – CRM stands for Customer Relationship Management.In a few minutes not only will you know the answer but you’re probably going to use what you learn here to make your business more efficient and more profitable.

Let’s face it operating a business has its challenges every day you have to make several decisions that affect your business,employees,vendors,customers.Its whether you’re deciding what brand of tea bags to buy for the office or how much you spend on recruiting or which software is best for managing your sales pipeline.

We know you have to do a lot of multi-tasking and we’re sure that on top of all of that managing your customer relationships is one of your major priorities.If you don’t know what CRM stands for or what you might need it for ,don’t worry because you’re not alone but in just a few minutes not only will you know exactly what CRM is.You’ll probably be scheming up a few different ways that using a CRM system will dramatically improve your business and boost your profits. So let’s get to it shall we the acronym CRM stands for customer relationship management but that’s pretty general isn’t it? but what does customer relationship management actually mean for business and why is it necessary to have a customer relationship management system in place ?

Let’s deep dive a little bit more on CRM -in a simple explanation its a form or a way to manage leads,opportunities- people interested in your business and your existing customers in the most efficient way possible to extract the most value and buy value .More specifically it refers to the system a company uses to analyze customer interactions and measure data throughout the customer life-cycle the goal of CRM is to improve business relationships with customers through retention and acquisition – So we are talking about money and relationships. When you are able to effectively manage and work on your leads , customers- more leads end up being happy and paying customers you build a loyal customer base who become your advocate and customers have a better experience with your company whether you’re a small business or a larger business wanting to manage customer interactions and focus on improving customer satisfaction.

Initially many businesses try to solve these issues by using spreadsheets ,emails and other more hectic and manuall means before realizing that it’s never too early to start using a CRM system because it simply makes everything much easier and organized.

So now let’s look at five ways you and your company can benefit by using the CRM –

  • you have much better data organization just import your list of leads contacts and customers into your CRM and start tracking sales and engagement with leads and customers
  • you have enhanced communication make it easy for your sales team to follow up with outstanding proposals by scheduling automatic reminders and creating a set of email templates
  • you can easily share information by giving your sales team access to the same resources through selective data sharing number
  • you will capture all leads -just create lead forms and embed them into your contact us pages on your website the information that is captured will automatically be pushed to your CRM and assign it to the appropriate salesperson which allows for a quick follow-up so you don’t lose sales and finally number
  • finally you’ll know your numbers- you can schedule weekly reports so each of your sales team members know how close they are to achieving their monthly /quarterly and annual targets,  in a recent survey of users who have a CRM system in place a majority admitted using a CRM system helped them better follow up on opportunities and leads and more than 50 % said it improved customer relationships because all customer interactions are available in one place for reference.

Let us think a CRM as a tool that you need to manage business relationships practices and processes it’s not a tactic it’s a strategy it helps you manage more than just your business context but also your vendor relationships internal sales activities and marketing teams . An effective CRM helps you gain insights of your business sales performance so you can adjust your strategies based on trends and demands .Not only this , you will also help the sales team to stay highly alert and active by setting up something called automatic workflow rules which are basically automated actions and messages that are triggered by certain events this ensures interactions with potential customers .No need to fall through the cracks and it saves your time from having to repeat the same steps over and over again .

As you can see,certainly there are a lot of benefits to implementing a CRM system in your business. let’s take a look at some very common problems that having a CRM can help you solve you feel like you’re swimming in information and can’t keep track of it you’re losing business because leads are falling through the cracks you have no idea if your marketing budget are helping or hurting your business .You waste too much time to find and lookup email trails from a customer, you miss appointments and not follow through on all of your tasks ,you have no idea -if your business is growing or how it’s growing .Your customers have to constantly repeat themselves every time they call your business phones because each person on your sales team has a different sales process .You loose track a hot lead or list of leads when an employee leaves your company.There’s no structure and consistency on emails fired to your leads. you have no idea if your email campaigns/marketing campaigns are profitable because most sales closed offline .Your sales team has no way of prioritizing their task list since  they don’t have a way of collaborating as a team and many many more scenarios- we can keep going.

Now you’re an expert on what customer relationship management is all about – you know a good CRM is very efficient to solve several different problems that pops their crooked heads in day to day businesses . How does it help and really why all Businesses should use it – start thinking about ways in which it can help your business. We are sure you’ve already got a few ideas brewing in ,we here at BITS can help you choose and implement a model to use with CRM and close more deals – win new customers in less time .

Leave a Reply

Your email address will not be published.