In this blog, learn how CRM systems help businesses create, manage, and maintain relationships with customers.
May 06, 2019
3 min read
May 06, 2019
3 min read
Customer relationship management (CRM), also called a CRM database, can be updated with your contacts and integrated with other third-party systems to create a CRM system. It is a technology that helps companies create, manage, and maintain relationships with customers. In other words: If a Rolodex were a Pokémon, CRM would be its final evolution. In this blog, learn everything you need to know about a CRM system.
A CRM system allows you to create a central hub for all of your customer information. It maintains a record of everything you know about a given customer, such as:
Website visits and activity
Touchpoints with your organization
Customer service complaints
How Does a CRM System Work?
Being able to access this information in real time allows you to make data-backed decisions and create the most streamlined sales process possible.
Your team will better be able to:
Map accurate customer journeys
Maximize marketing ROI
Spot at-risk accounts
Get the right information to the right people at the right time
This is critical. Bill Gates perfectly summarized the idea almost two decades ago when he said:
“The most meaningful way to differentiate your company from your competition is to do an outstanding job with information. How you gather, manage, and use information will determine whether you win or lose.”
Sure, you can try to keep all the pertinent contact information in Excel.
But if you want to do an outstanding job, you’ll need outstanding technology—and in a few years, spreadsheets will be as passe as reading books on a stone tablet.
Gartner predicts that by 2021, CRM systems will be “the largest revenue area of spending in enterprise software.”
It's true for enterprises, franchises, and small local businesses alike: If you want to build better relationships with your customers and develop a sustainable business model for storing and tracking data, you need a CRM system.
When used correctly, a it is a surefire way to optimize sales. The sales team can:
Increase efficiency and close deals faster
Identify what product(s) are selling most
Save time by automating repetitive tasks
Spot opportunities to resell and upsell
Easily access information about a customer without having to sort through an abyss of emails and spreadsheets
CRM System for Marketing
Although CRM is traditionally associated with sales, it’s a game changer for marketing and customer service teams as well. By keeping detailed records of interactions with every customer, your marketing team can:
Quickly segment customers and identify trends
Sift through information on customer behavior to identify profitable accounts and funnel them to the right salesperson
Analyze the success of a marketing campaign to better optimize future efforts
Automatically craft reports
Integrate customer information with third-party emailing software
Being able to view and analyze data provided by a CRM system ultimately allows marketers to better understand their audience andcreate tailored messaging.
CRM System for Customer Support
Customer service teams also benefit from having a CRM system in place. It allows them to verify what the marketing and sales teams have told a customer.
Having access to a customer’s most up to date information allows the team to better service them. In other words, a CRM system enables you to:
Access real-time data about a customer, including any past conversations, complaints, or tickets
Automatically update data
Solicit feedback through surveys
Track any trends in feedback or complaints
There’s a reason CRM systems have revolutionized the way companies build relationships and sell.
It has empowered countless small businesses to better manage their contacts, streamline their sales, and optimize their marketing campaigns. With all customer information at your fingertips, you can be sure that every decision you make and every strategy you implement is backed by data.
Want to learn more about revolutionizing the way you manage and communicate with your customers?Download our free eGuide CRM For Small Business: What You Need To Know now.