CRM stands for Customer Relationship Management. It is a software solution that helps a company or organisation to maintain its relationship with its customers. You can use CRM to track potentials leads, create reports, schedule appointments, add notes, etc. in one place. It is not just useful for sales but can also improve workflow in different fields such as education, marketing, etc.
Features of CRM
A CRM can have different features based on which field it’s made for. The following are some of the general features of a CRM:
Better customer relations
No matter what kind of organisation you are, customer relations are very important. A CRM can make them better by collecting data from different sources such as phone calls, messages, email, etc. and present them in one place. This makes it easier for you to identify potential leads and focus more on them. Also, answering customer queries becomes simpler. Overall, communication between company and its clients will improve in general. This will further lead to higher revenue.
Reduced data entry
Instead of referring to your mobile or sticky notes for different reminders and critical points, you can access them all from one place. CRM will store all your data with regards to prospective leads and notes concerning them in one place. It is an excellent tool for managing your contacts in one place.
Built-in communication facilities
A CRM has built in tools to call/message/mail your clients directly from it. It can integrate with your email and send your mails directly in the CRM. This way you can focus more on how to respond to them instead of gathering relevant emails from different email ids. You can integrate CRM software with other applications such as marketing spreadsheets, live chat software, etc.
Simple and Cost Effective
Choose a CRM which has an easy to use interface. It should not have a steep learning curve. There are many different CRMs available at different price ranges. Choose one which is most affordable and appropriate for you.
The data stored in a CRM is more useful if you can generate analysis reports based on it. For example, who closed more deals, how many leads converted to clients; compare customer satisfaction over the months, which sources generated the most leads, etc. Generating MIS reports can help you with that.
A company has to follow up on inquiry, send offers, regular subscription mails, etc. By setting up regular intervals in CRM, these tasks will be done automatically.
Cloud based CRM can be adapted to use in cell phones. Any sales or marketing representative can update the status in CRM immediately after their meetings. Everyone gets updated information at the same time.
Types of CRM
There are mainly 2 types of CRM software available:
1) Desktop Solution
2) Cloud based Solution
If you have good IT support and can afford to maintain data centres, then you should go for a desktop solution. However, a simpler solution would be cloud based. It has a lot of benefits.
1) You don’t have to maintain the servers. The company providing the services will do that for you.
2) If you have limited IT support, then this is a better solution for you.
3) Automatic updates and easier maintenance.
4) You can access your software from anywhere as long as you have an internet connection.
As of 2018, 87% of businesses use cloud based CRM.
Advantages of CRM
1) Sales team can comprehend their sales pipeline better.
2) Marketing teams can use CRM to make effective strategies.
3) Customer service department can track customer queries easily across different channels.
4) Human Resources department can use CRM to speed up recruitment process and track employee performance.
Who should use CRM?
The aim of any business is to increase their revenue. A CRM can be used by any organisation, large or small. Start-ups can use CRMs to keep their business organised. This will help them make effective business strategies. An enterprise can benefit from it by gathering all their data in one place and create reports from it. It will keep their goals in order and result in better deals.
In 2017, overall use of CRM software increased to 74% with 91% of businesses with 11 employees or more using this software. 74% businesses state their customer data access has improved thanks to using CRM. CRM software will keep your company more organised and effective. Various CRM soft wares are available at affordable prices for all kinds of businesses. Investing in one will benefit your company.
Vedansh Infoway has developed a CRM for education institutions. It is helpful for different institutions such as schools, colleges and training institutes. For more information, visit here.