What is CRM? A Comprehensive Guide to Customer Relationship Management

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CRM is post-sale software used to retain and satisfy current clients, while SFA is client acquisition software. However, CRM systems are usually an all-in-one solution, by including additional features such as SFA, integrations and marketing automation.

What is CRM?

Customer Relationship Management is a marketing strategy used to maintain and engage customers, while Client Acquisition Software helps people to find opportunities to buy from your business. Why use CRM? To better understand the use of CRM, here is an example: In 2015, there were seven leading players in the CRM market, and while only two of these systems have benefited significantly from the trend to include social media and CRM, Salesforce (49.5 percent) and Microsoft (43.1 percent) stand out in their use of social media. Also, according to the Gartner Hype Cycle for CRM 2016 report, the reason Salesforce rose so high in the Gartner Hype Cycle is that it is “rapidly growing in enterprise businesses as its cloud-based SFA solution delivers an opportunity to innovate and differentiate.

CRM Software Services
CRM Software Services

Why CRM?

CRM systems are essential tools for sales and marketing teams to stay in touch with customers. You can keep track of every interaction your customers have with your business by using the CRM. In addition, you can send personalized and relevant marketing campaigns that lead to increased sales and leads. CRM helps sales and marketing professionals keep a track of who is buying from your business, how much they’re spending, and where they’re spending it. It’s imperative for businesses to use CRM to get in touch with customers and maintain long-lasting relationships with them. Why Software? There are many companies that claim to be CRM vendors. However, very few are a qualified solution for their customers.

CRM benefits

With CRM you are able to: Expand your business relationships through an effective workflow and better collaboration Improve communication between your clients and help them keep track of their purchases Improve your marketing practices to retain clients better CRM vs SFA SCM and SFA software are often found in the same area. However, CRM and SFA are quite different. SCM software is similar to SFA, it is mostly used for the mid-end of the sales cycle (billing, collections, etc.) where SFA is usually used in the first and last few days of the sales cycle (purchase, etc.).

CRM Implementation

How to implement CRM? It is not only technically but also business-wise that one should acquire a customer relationship management system. Most companies require very less customizations and upgrades. If the CRM system is properly designed, users are able to develop a relationship with each client. Creating and maintaining a healthy relationship can help boost a company’s revenue and even decrease customer complaints. If CRM can be designed to meet all business objectives, it should be an essential part of every business. It can help your company become a more successful enterprise by taking actionable intelligence to further target and market to your target market and ensuring you can compete for a larger market share.

Conclusion

CRM is the primary tool for all businesses to attain a direct relationship with its client. The aim of CRM is to provide the business with an array of tools and features. It’s important that you know that all SFA comes with a cost, and all of them take time to plan. You need to plan for an effective marketing strategy because once you implement one, it has to be functional and effective. You also need to be careful with the approach, because a lot of companies go down the wrong road because they lack basic strategy and planning. In short, make sure you choose the right tools that fit your unique needs.

 

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