What is CRM and What is it For?

Posted by Esteban Cordero on Jul 15, 2019 9:42:38 AM
Esteban Cordero

Que-es-un-CRM-y-para-que-sirve-1

A Customer Relationship Management (CRM) system helps companies comprehensively manage customer relationships and customer data, usually guided by 3 major business processes:

  • Marketing Process,
  • Sales Process,
  • Customer Service Process.

Salesforce What is Customer Relationship Management Process

Image: Salesforce customer journey for CRM process 

These systems must be integrated with all of the company’s commercial channels that have some kind of relationship with its customers. These channels are usually call centers, retail stores, social networks, e-commerce, website, email, and others.

A CRM serves as a backup for information where companies can store customer data, lead data, track customer interactions, and share this information with the sales team. Additionally, it manages relationships with B2C and B2B customers and suppliers or business partners, helping the company understand its customers’ preferences, the phases in which they are in the purchasing process and associating the right content for each stage of the customer experience.

With a CRM system in place, every question, service request, preference, and contact detail of each customer is instantly available, which helps you personalize every new interaction. In addition to tracking every phone call, email sent, sustained meeting, and proposal delivered, CRM systems can also be used to add notes, schedule customer meetings, and assign follow-up tasks. This ensures that opportunities to close deals or increase customer accounts are not lost.

By better understanding customers, cross-selling and up-selling opportunities also become clearer, giving organizations a better chance to win new business from existing customers.

 

Why Have a CRM System?

A CRM helps companies automate business processes, integrate the different processes and systems of the company, and have a better control of their business team and of the company’s relationship with each individual customer. It also helps increase sales through strategies that help companies prospect, segment and close new opportunities. A CRM is designed to help companies understand Customer Lifetime Value (CLV), and it will allow you to understand a customer's retention value over time by tracking each customer’s history with your brand. 

 

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How Can a CRM System Help Your Business?

A CRM helps ensure accuracy and efficiency.

CRMs help you turn customer data into useful information to optimize conversions. It helps everyone in an enterprise easily update records and gain access to the latest information.

 

Sales and revenue

A sales CRM system can help you increase sales and revenue with built-in tools for sales force automation, lead management, cross-selling, e-commerce, and more. It increases your sales channel’s visibility and gives sales reps access to key information, anytime, anywhere.

 

Customer information

CRM Data clearly displays detailed customer information and allows you to run real-time customer analytics, so you can identify and leverage new sales opportunities, manage marketing campaigns highly effective and surprise customers with personalized service.

 

Market Target

Whether your marketing efforts are targeted through strategies in your e-commerce, email, social media or other channels, the functions of a CRM software will lead you to the right people with the right message at the right time. It is a highly efficient way to know your customers and deliver highly targeted marketing on the channel of your choice.

 

Customer Experience Management

A CRM helps increase customer´s satisfaction and loyalty by automating all business processes and improving the response and understanding of our customers. From the CRM you can also give the sales team a comprehensive 360​​°view of customers and provide automatic recommendations for optimal problem solving.

 

Commercial Service Agreements

A CRM allows a company to share information between teams, departments, and internal and external stakeholders. With control of the data, service agreements can be signed, creating a compromise between the marketing team and the sales team. The marketing team is committed to generating Leads while the sales team is committed to closing a percentage of those Leads. These service levels create a collaborative link in the sales department.

Having been introduced to the wonders of a CRM, do you want to implement it for your business? Know more about CRM, Contact Us. 

 

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Topics: customer relationship management

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