Equal parts strategy and technology, CRM is about using data to better understand customers and boost sales. Its success depends on the business creating and implementing a clear plan for the use of CRM tools.
CRM is a tool for software that allows businesses to store customer and prospect data to track interactions and automate marketing campaigns and create reports. It lets businesses communicate and connect with their customers and prospects through a variety, including text messages, email, and other social media platforms.
Although many think of CRM as a sales tool, the reality is that it can be utilized by any department in the business. For example the finance and billing departments can use CRM to track commissions, review contracts, and reconcile sales forecasts with actual revenue. Marketing departments can also utilize it to spot patterns to better target customers.
Sales teams produce a plethora of information each time they talk to the customer, talk to the new prospect, or follow up on a lead. Traditionally, this data went into analogue or unconnected media such as laptops and notebooks or remained in team members’ heads. CRM systems allow this data to be collected in a systematic manner and stored in a central location that can be instantly shared with all the company’s representatives, regardless of which channel they are using to communicate.
The most advanced CRMs currently incorporate AI and machine learning, which analyze data and provide actionable information on every opportunity. That way, the business can optimize their customer experience, increase engagement, and increase loyalty and retention.
Be the First to Comment!
You must be logged in to post a comment.
You must be logged in to post a comment.