A CRM, i.e., customer relationship management, as the name suggests, is a system to manage relationships with customers. They are a valuable and vital asset for any company, and hence a powerful CRM tool and CRM strategy is essential for a company.
What happened earlier was that many small customer details were scattered at places like in the mind of CEO, in the mails of the salesperson, and the bills of the accountant. With the growth of a business, it is crucial to have one central place where all of the customer details are collected for use.
Your team needs to know answers to essential questions about your customers to know them well. A CRM strategy lets your team know your customer, who can be then served well.
Your prospects will be irritated when you as a company does not know them. If you think from a customer’s perspective, they have a relationship with only one company, not from individuals from different departments. Thus, it becomes necessary that everyone from your team has a context about customer’s current state, needs, and wants and can pick up the conversation from where it was left off.
A CRM strategy can solve the kind of problems listed above. Having one central place to organize the details of your customers, it’s easy for everyone to gain insight into the state of business, and status of every customer relationship.
Who should use CRM?
A brief answer to who should use CRM is any company who intend to maintain a relationship with their customers. Let us go a bit in detail; two types of companies often see benefit from a CRO strategy:
B2B companies: These companies typically need to track leads across long sales cycles via upgrade paths. Thus, they need to invest in a CRM system.
Considered-purchase B2C companies: B2C companies like a jeweller, a realtor etc. are required to keep all customer information and hence need CRM.
Apart from the above two profiles, there are many other company types which see value in CRM system.
A customer relationship system aims to solve challenges like:
● Maintaining a central list of information on customers and leads
● Efficient interaction of customers with people on your team to keep track of where the conversation was left off
● Understanding the productivity of a sales team
Thus, your business could greatly benefit from a CRM system included in your business management. CRM is vital for businesses where a customer is a priority and the most valuable asset.