Customer Relationship Management (CRM)
Customer Relationship Management (CRM)
Is a process in which a business or other organization administers its interactions with customers, typically using data analysis to study large amounts of information.
CRM systems compile data from a range of different communication channels, including a company’s website, telephone, email, live chat, marketing materials, analytics and more recently, social media.
Banks
It's an especially useful tool for meeting sales and marketing goals and exceeding customer expectations. CRM software is a tailored solution that helps banks implement customer-centric strategies. ... Create reports that analyze customer behavior, marketing campaign performance, and more.
Insurance
An insurance CRM is a solution that addresses the specific needs of insurance brokers and insurance providers. Organize all your leads and claims, automate assignments to the right people, and manage multiple policies in a single system with an insurance CRM.
Telecom
Customer Relationship Management (CRM) software tracks and analyzes all of the interactions one has with potential and existing clients. It centralizes, simplifies, and secures information for easy access. CRM in the telecom industry can serve as a powerful tool to increase sales and improve customer engagement.
The problems are solved by CRM
Decentralized Data
This can become a much more serious issue when you’re looking for important sales information, but have to look through dozens of various documents, charts, and spreadsheets. A CRM solution will centralize all your data and make it easier for you to find what you need, exactly when you need it.
Bad Customer Communication
CRM is a great way to improve your communication with your leads, clients, and potential customers. You can easily call, message, or email your contacts from a single location. Easily access a log of all your previous interactions with that contact, or access a customer’s existing purchase history to quickly address any of their questions or concerns.
Lacking Social Insights
CRM solutions come with a variety of features dedicated to social media management and marketing. You can schedule posts, access analytics, monitor your competitors, and much more.
Low Remote Work Productivity
With cloud-based CRM solutions, it’s much easier for employees to work from home, or access important documents while away on business trips.
Features
Contact Management
Stores contact information such as names, addresses, and social media accounts in a searchable database. Using contact management and CRM software increases productivity, elevates collaboration, and raises customer satisfaction levels. All of that adds up to faster revenue and company growth.
Lead Management
Manage the process of converting prospects into potential customers (leads) by personality, scoring, and moving leads through the sales pipeline.
Customization
Some CRM solutions let you choose which features to include in your package, and some also allow you to customize basic areas, such as with the abilities to add contact fields, choose which data to show on your dashboard and create custom reports. You can also customize with extensions, plugins and other add-ons to expand your software's capabilities.
Employee Tracking
CRM software is a great way to track employee activity and performance. CRM gives employees their own accounts where they can individually track their hours, tasks, meetings, sales numbers, goals and other items.
Document Management
Collect, upload, store, and share documents in a centralized location, making it easier for everyone involved to access information.
Workflow Automation
Automate repetitive tasks by creating workflows that trigger actions or send follow-up reminders for next actions.
Automation Tools
To scale your company’s operations as your business grows, a CRM must have the ability to automate repetitive tasks, such as scoring leads to determine those that should be prioritized, and sending out regular emails to clients.
Interaction Tracking
Add notes and track interaction history to document conversations with specific contacts.
Third-Party Integration
Connecting your CRM software to other solutions you already use can save you tons of time and money.
Detailed Analytics
Reporting is the feature that brings the results of your sales and marketing efforts all together. The more of these report types you can access, the better:
- The number of leads that come in during a certain amount of time
- The number of sales generated during a certain amount of time
- Which of your sales agents closed which leads and how many they closed in a certain amount of time.
- The number of outbound calls being made
- The effectiveness of your emails
- The stage at which your leads converted, helping you identify opportunities to close leads in a shorter time