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CRM software  

CRM or Customer Relationship Management is a system which aims at improving the relationship with existing customers, finding new prospective customers, and winning back former customers. This system can be brought into effect with software which helps in collecting, organizing, and managing the customer information. Implementing a CRM strategy is advantageous to both small-scale and large-scale business ventures. 

The primary purpose of CRM software is to streamline all major areas of customer interactions. This can include managing contacts, setting appointments, monitoring a marketing campaign, handling customer service, and numerous other tasks.



CRM software makes use of a dashboard, analytics and reporting tools to provide business owners with an all-encompassing vantage point of operations. By spotting patterns and identifying trends, this puts you more in control of customer engagement so your business can run more efficiently.

Following are the main benefits of using CRM.
Maximize up selling and cross selling
A CRM system allows up-selling which is the practice of giving customers premium products that fall in the same category of their purchase. The strategy also facilitates cross selling whic his the practice of offering complementary products to customers, on the basis of their previous purchases. This is done by interacting with the customers and getting an idea about their wants, needs, and patterns of purchase. The details thus obtained will be stored in a central database, which is accessible to all company executives. So, when an opportunity is spotted, the executives can promote their products to the customers, thus maximizing up-selling and cross selling.

As information on customers accumulates, it’s common for more opportunities to present themselves. For example, keeping track of a particular customer’s buying patterns would make it clear what they are most interested in.

When launching a new product that’s similar, you could make it a point to contact that customer and let them know. Consequently, this makes it possible to increase sales without having to constantly advertise to new customers.

By capitalizing on an existing customer base, you can get more repeat sales while keeping customers happy.

Task Tracking

Meeting deadlines is very important in today’s business world. By inputting information like scheduled appointments and important tasks, it takes the guesswork out of project completion. Many platforms also allow this data to be synced with a calendar to keep you informed of upcoming tasks and deadlines.

For instance, if you have a sales call scheduled with a valuable lead, CRM software would send you an email in advance so you remember to make the call.  Whenever a customer has an upcoming birthday, you or a sales rep would be notified so you promptly send out birthday wishes. Consequently, you can make customers feel more valued and build deeper relationships.

Sales Rep Management

Business owners can keep track of their staff. Being aware of which staff are on holiday or are sick at any one time can enable the business owner to divert help from other departments when it is needed. CRM software lets you track the progress of all employees and their schedules, you’ll always know which leads they’re working, how much they’re closing, and be able to make changes based on performance immediately.

Save Time
A CRM automates a lot of the usual time-devouring tasks, giving salespeople more time to do what they are actually paid to do: namely, sell to prospects. More time spent in front of potential customers (instead of shuffling paper) means more sales, which makes everyone happy.
Improved Social Media Marketing
Another feature that most platforms offer is the ability to integrate with social media networks like Facebook, LinkedIn, Twitter and Pinterest. This can have major advantages because it allows businesses to track all aspects of their social media campaign. For example, business owners can identify which networks are resulting in the most traffic, what followers are saying about their brand and the overall customer experience. As trends emerge, adjustments can be made so you get the most from your efforts and boost your brand’s presence across the Web.
Increased Organization

When dealing with hundreds or even thousands of customers, it’s easy to become disorganized and overwhelmed. Fortunately, the right CRM software makes it simple and intuitive to keep customer information organized and retrievable. By maintaining a contact list, it gives you quick access to a wealth of information like customer email, telephone, buying history and birthday.

Performing a search will provide an overview of this information so you can extract what you need without the hassle of searching through paper folders or using other outdated techniques. Since many platforms incorporate metadata, you can search via broad terms instead of highly specific ones.

This is beneficial because you can find the customer you need by entering general keywords instead of a specified term.

Look Professional

Which do you think looks better to a prospect: a salesperson who keeps all their information in a computer database and can pull up vital details immediately, or one who keeps their information on Post-It notes and has to scramble for ten minutes just to find the scheduled appointment time?

Save Money

Sure, the more impressively arrayed CRMs can cost a lot of money. But if you don't need quite that much technology working for you, it's easy to find less expensive or even free alternatives. And just think how much you'll save on Post-It notes if you're putting all that information into the computer instead.
Convenient

If the whole sales team is using the same CRM, then it's easy to share that information as needed. Most CRMs allow you to develop templates for phone scripts or frequently used emails, and the team can share these templates. Many CRMs even support mobile devices, so you can access all that information from your iPhone or enter a few quick notes right from the prospect's office.

Secure

What happens when the nightly cleaning crew accidentally throws out someone's Post-It archive? With a CRM, information is usually stored either in a central database or in the CRM provider's system. At the very least each salesperson can back up copies of their individual databases to another computer.
Faster Lead Generation

A good CRM can help immensely with lead generation. For instance, many CRMs can integrate with website and social media campaigns, sending leads from these sources directly to the appropriate salesperson. That means the sales team is spending less time cold calling and more time working warm leads, which tend to be far more fruitful. And by tracking each salesperson's activities, it can keep lead lists up to date – so that you don't have five different salespeople calling the same lead.

Better internal communication

Following a CRM strategy helps in building up better communication within the company. The sharing of customer data between different departments will enable you to work as a team. This is better than functioning as an isolated entity, as it will help in increasing the company’s profitability and enabling better service to customers.

By pulling all the data together into one place, CRMs make it easy to track performance both within and across the team. CRMs can also bring all this information together into reports that help with forecasting. Having this level of analysis available makes setting the next period's goals much easier... and makes it more likely that these goals will align with reality.
Scalability

Besides immediate needs, it’s important to consider long-term needs and take future growth into account. That’s why software that’s adequately scalable is so critical. Ideally, a platform will be Cloud-based to accommodate increased data storage and more contacts as they are acquired. It will also have the option to conveniently purchase upgrades as needed.
Otherwise, getting locked into a lengthy contract with a vendor with limited scalability can be detrimental to your efforts.

Mobile Capabilities

In the modern business world, mobile devices like smartphones and tablets have become the norm for many businesses. They make it possible to complete tasks and stay up to date on projects regardless of location. If your business uses any type of mobile technology, it’s necessary to look for CRM software that can be accessed on these devices.
This should help all team members boost their productivity and get things done on the road.
Improved customer relations

One of the prime benefits of using a CRM is obtaining better customer satisfaction. By using this strategy, all dealings involving servicing, marketing, and selling your products to your customers can be carried out in an organized and systematic way. You can also provide better services to customers through improved understanding of their issues and this in turn helps in increasing customer loyalty and decreasing customer agitation.In this way, you can also receive continuous feedback from your customers regarding your products and services. It is also possible that your customers recommend you to their acquaintances, when you provide efficient and satisfactory services.

Increase customer revenues

By using a CRM strategy for your business you will be able to increase the revenue of your company to a great extent. Using the data collected, you will be able to popularize marketing campaigns in a more effective way. With the help of CRM software, you can ensure that the product promotions reach a different and brand new set of customers, and not the ones who had already purchased your product, and thus effectively increase your customer revenue.

Optimize marketing

With the help of CRM, you will be able to understand your customer needs and behavior, thereby allowing you to identify the correct time to market your product to the customers. CRM will also give you an idea about the most profitable customer groups, and by using this information you will be able to target similar prospective groups, at the right time. In this way, you will be able to optimize your marketing resources efficiently. You can also be ensured that you don’t waste your time on less profitable customer groups.

 
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