CRM? What does it do and why do businesses choose to implement it?
Customer Relationship Management (CRM) is a holistic approach to
managing a business’s interactions with current and potential customers.
In principle, it uses your data to help you improve customer
relationships, streamline processes, and increase profitability. Read on
to learn who CRM is for, what it can do, and why it matters.
Who is CRM for?
Good news! CRM is meant for everyone – any company, in any industry,
that wants to increase the influence of their data on their business.
Companies large and small with various budgets and differing levels of
user involvement can implement a CRM to match their needs. It’s all
about finding the right fit. A lot of companies think CRM won’t work for
them because they’ve tried it before and it failed, but in many cases,
the real reason it didn’t work isn’t because the system is inherently
bad, ineffective, or unnecessary. It’s because they bought a CRM with
the wrong functions for what they needed, or because they didn’t train
and onboard staff the right way, or because they didn’t get a CRM that
could work with their existing software for accounting and email.
You can’t fit a square peg into a round hole, which many companies
try to do when they buy a generic CRM that isn’t tailored for their
business. Every business can benefit from CRM, but not every business is
the same, and there are a LOT of factors that go into purchasing a CRM
that can make or break whether it works for you. The best approach is to
work with a CRM consultant who can analyze your business needs and tell
you how those needs would be reflected in the CRM you are considering.
Nearly every CRM today can accommodate cloud-based or on-premises
hosting so teams can increase productivity and data visibility no matter
where they work. CRM solutions benefit every department, from customer
service, to marketing, to sales. With this technology, service teams can
manage customer requests from all channels while marketing teams can
better align customer journeys, manage campaigns, and stay in the loop
with social buzz. Mobile capabilities improve a sales team efficiency
and effectiveness with access to prospects and lead insights from
virtually anywhere. Not all CRM systems share the exact same
functionality, but all instances share a common goal of enhancing the
customer’s overall experience to drive success.
CRM has a wide spectrum of business applications to help you manage
your processes. It can organize customer data and interaction history,
automate sales and marketing campaigns, track leads, monitor contracts,
generate quotes, and support vendor relationships. CRM systems allow you
to take full control of your business relationships, data, and all
information associated with them to exceed customer expectations. You
can store customer and prospect accounts, leads, and opportunities in a
centralized location to promote data transparency and collaboration
between departments. Combined with analytic capabilities, this creates a
360-degree view of customers you’d be hard pressed to uncover
Its unique data analysis helps you monitor sales so you can forecast
consumer buying trends and behaviors with confidence. CRM technology is
designed to reveal more about your target audiences and how to best
cater to their needs. The systems are highly customizable, so you gain
actionable insights specific to your business and industry. The best
part is, CRM helps you harness the full power of data you already have
to promote faster company growth and streamline operations.
What Makes CRM Matter?
Implementing CRM means you can start building your strategy for the
future today. CRM software translates all your data streams into
relevant and up-to-date business information to formulate reports,
quotes, and deeper analysis. It provides a clear overview of customers
and keeps all your important information in one place. Without a
complete history of customer data, conversations, and metrics, you might
miss critical sales and marketing opportunities.
Once you've implemented a CRM, consider integrating
your solution with other systems to build on its benefits. For example,
social media integration allows marketing teams to effortlessly monitor
what customers are saying about the brand. Use this information to guide
marketing decisions that funnel more prospects down the sales pipeline.
If you’d like a free business analysis for CRM, or think you are ready to start an implementation, please contact us at firstname.lastname@example.org or 847.655.3434.