CRM – Customer Relationship Management
Customer relationship management (CRM) software is comprised of both business management and automation of the front-office divisions of an organisation. CRM software is essentially meant to address the needs of Marketing, Sales and Distribution, and Customer Service and Support divisions within an organisation and to allow the three to share data on prospects, customers, partners, competitors and employees. The purpose of CRM software is to manage the customer through the entire lifecycle, from prospect to qualified opportunity to order.
CRM software automates many of the needs of Marketing, Sales and Support users, such as Telephony, or the ability to conduct phone calls and manage call data, and tools to capture, share and manage automated alerts on lead data as it passes through the sales pipeline. CRM software provides a standard framework for pushing leads through a sales pipeline and managing it amongst many stakeholders in real time in order to provide better customer relations and grow revenues by creating more sales, and losing fewer customers.
Understanding CRM
CRM is more than just software or a set of processes – it’s a business culture solidly focused on winning and keeping the right customers. A good CRM solution builds value for your business by opening up vital communication channels and creating a common client-focused knowledgebase to better serve your clients. CRM is about understanding the buying habits and preferences of your customers and prospects.
By effectively integrating your marketing, sales and customer service functions, a good CRM system makes it easier for everyone inside your company to work together and share critical information. An effective CRM system empowers your customers and prospects to do business with you – the way they choose! Imagine connecting your customers to your employees and business partners across any department, through any process and via any communication device – phone, fax, email, or the Internet. CRM can contribute many benefits to your organisation including:
New sales opportunities
A good CRM system will classify your prospects and help identify your best customers. With detailed information on your customers, you can accurately project and respond to their buying needs throughout the sales cycle. A good CRM system can help you automate routine sales tasks allowing you to spend more time focusing on strategic sales issues.
Improved customer service
The right CRM system allows your team to take a proactive approach to customer service. With up-to-date and complete customer information at their fingertips, your employees can resolve customer issues more quickly and successfully, creating more selling opportunities.
Better decision making
CRM systems provide a single view of the customer across all touch points and channels, as well as delivering comprehensive reports of customer behaviours, marketing campaign results and sales activity. Each of these elements are necessary for smart decision making and long-term strategic planning.
Greater efficiency
With an integrated CRM system, you can gain immediate access to your organisation’s critical customer information. A good CRM solution also increases internal efficiencies by automating work-flow processes, reducing human error, decreasing process time and providing consistency throughout the entire organisation.
Provide value-added services that are difficult for competitors to duplicate
Improve your product development and service delivery processes
Increase your staff’s awareness of customer needs
Reduce customer frustration by not asking the same questions over and over.
Build and strengthen customer relationships to keep them coming back
