what is CRM

1. Why CRM is Important? What are the benefits of CRM? CRM is a term that was initially defined and designed to improve customer service. Today, though, it relates to an entire business strategy. CRM software acts as a single repository to bring your sales, marketing, and customer support activities together, and streamline your process, policy, and people in one platform. Why CRM is important? For many businesses, their CRM isn’t just important –it’s essential! To maximize the benefit, you need to build your CRM into your business strategy. A CRM will create structure and organization for your company that will foster increased efficiency, productivity and profitability. Although, originally designed for sales teams, the benefits of using a CRM across your whole organization can be immeasurable. However, it’s become increasingly important for marketers and for customer service teams managing post-sales communications. A CRM system gives greater insight of how your business is performing, using the actual sales data to take the guesswork out of business decisions. It provides a complete overview of your customers and their activity, letting you create a truly customer centric focus that will shape your customer experience strategy. What are the benefits of CRM? Having worked hard to collect information about a prospect or customer, sales people can end up with their information held across multiple sources, from sticky notes to call logs. Using a CRM helps brings it all together in a centralized hub. A CRM will facilitate team collaboration and create efficiency. So there’s no duplication of effort, lost messages or forgotten call backs. This leads to more timely communication, enhanced relationships and, essentially, more sales. The workflow automation looks after much of the manual processes of selling so there’s less data input and admin. You can also use automation to prioritize your leads, bringing together your data insights from across your business activity. A good CRM will also help you manage your teams, control your data security and support your compliance with data privacy regulations. Enhances contact management

2. Improves customer retention and satisfaction Advances sales management Increases efficiency and productivity Creates organization and team collaboration Facilitates accuracy of reporting and sales forecasting Heightens data insight for marketing and product development Increases lead to sales metrics Boots business growth CRM Features List