What's a CRM and Why is it Important for your Business?
This is nothing new. These methods can be as simple as tracking your progress on a notepad, an excel worksheet, a Word document, or even a logbook. Any technique or tool used to optimize a company's internal (productivity, team meetings, task assignments) and external (sales, meetings with clients, conversion rates, target behavior) operations can be seen as a management system.
The way to manage on a corporate level has seen many changes throughout the years. Thanks to technology, the process went from being manually performed to becoming an automated system that, beyond simply keeping records, has grown into a tool that optimizes the relationship between a company and its customers.
Today we'll talk about Customer Relationship Management, better known as CRM.
What's a CRM? Why is its Implementation so Important?Simple: CRM can be a concept, a business strategy, or a management model, as long as its main purpose is to retain customers and cement their loyalty. This definition paved the way for the creation of the CRM software and the automatization of the initial model in a program capable of managing and analyzing all the tasks related to your customers.
A CRM's main feature is the capacity to increase sales for a company through the analysis of all the steps/decisions made by the user while interacting with the company. This interaction can come from the company's website, its products/services, its social media profiles, and any other element created to obtain more customers.
A 2018 study by CSO Insights showed that 48% of sales teams have used a CRM system to improve their operations. The advantages of a CRM as a storage platform and the integrated management of the relationship built with customers are some of the traits that make this possible. A CRM system gives you the ability to record all the important information in one single place, along with increased productivity and the solution to many issues taking place among employees.
Advantages of Implementing a CRM System for your Company
- Your Customers' Information Is Stored in One Single Place
It's worth emphasizing a CRM's main purpose: to save you from wasting time while monitoring your clients' activity. You will count on a platform that automatically records any interaction you've had with them, including phone calls, meetings, inquiries, sales, emails, etc.
- You Get Data and Numbers
Whether it's showing your worker's productivity levels or describing activities connected to your customers, a CRM software helps you manage and track all your operations, often in real time. For example, if you own a business and connect your brand to a CRM system, you will see the interactions taking place between your company and your potential customer. The software is capable of keeping records of each instance of a contact, including the exact moment when a user becomes a customer or purchases your product/service. All these numbers and data help you understand the behavior of your target audience, and their results can help you either develop a better strategy or maintain your current performance if you get a positive outcome.
- A More Effective Organizational Structure
By keeping all the customers' information in one single place, a company's inner team can enter the platform to look for data as they track customers. There's no time wasted in having to contact a co-worker to look for specific information. The CRM software also has the possibility to appoint tasks and reminders among members of the team in charge of its management.
- CRM Helps your Segmentation Efforts
CRM software lets you create different lists comprising customers who share certain needs or qualities. This way you can optimize your target segmentation and send more personalized messages to each of these users.
- Customer Loyalty
Last but definitely not least, a CRM system focuses all its features on the goal of maintaining customer loyalty. The organization, the automatization, the data, and the numbers represent resources to update a company on what the customer thinks and needs. This translates into more chances for building a stable relationship with your customer.
What are the Most Popular CRM Providers in the Market?Now that you know the power of a CRM system, we'll talk about the options currently available in the market. For those who own an online business, the most popular CRM software comes from one of these brands:
- Salesforce: This well-known CRM provider offers a variety of plans and corporate management services. When it comes to a company's sales management, their Enterprise package is the most popular choice, costing $150 per month.
- SugarCRM: The prices of the plans offered by this CRM service range from $40 to $150 a month, depending on the features you need in your software.
- Zoho: Unlike the other providers, Zoho offers three plans, the first of them being free. However, in order to have optimal management, you need one of the advanced plans ranging from $12 to $25 per month.
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