Equal parts strategy and technology CRM is about using data to gain insight into customers and boost sales. Its success is contingent upon the business establishing and implementing a solid plan to use CRM tools.
CRM is an application that allows businesses to store data on prospects and customers, keep track of interactions, automate campaigns, and generate reports. It allows businesses to communicate and connect with their customers and prospects via a variety channels, including text messages, email, and other social media platforms.
CRM isn’t just for sales. It can be used in any department within a company. For instance, the billing and finance departments can use CRM to track commissions, review contracts, and compare sales projections to actual revenue. Marketing departments to be open with your clients about your goals can also make use of it to track trends that can help them better target customers.
Each time a sales staff interacts with a client, meets a new lead, or follows up with an existing lead, they generate an influx of data. This data was traditionally stored on analogue media, such as notebooks and laptops or in the heads of team members. CRM systems allow data to be collected and stored in a central place that can be instantly shared with all company representatives regardless of the method they choose to use.
The most advanced CRMs currently incorporate AI and machine learning, which analyze data and provide actionable information for every chance. The company can then improve their customer experience and boost engagement to increase loyalty and retention.
