CRM i.e. Customer Relationship Management Software is software designed for fostering business relationships with its clients and customers. It basically tracks all customers’ data and keeps a record of it, helping businesses to understand their customers better. It has replaced spreadsheets, databases, and other applications for storing and tracking customers’ data. It connects all the data from sales, clients, and customers in a single place. You get all in one place. In this blog, we’ll find out what is CRM.
All sorts of communication are available here like forms, emails, messages, calls, video conferences, etc. Each member of the team can access the data in the team’s software. Every department of the organization like marketing, sales, and customer service can be connected and organize their activities together. By the use of CRM, software organizations are benefitting by having a better organization of work, better efficiency, and time management, and most importantly impressed clients and customers. CRM software is very beneficial, especially for startups who want to build relationships with their clients and customers.
What is CRM Software’s History?
What is CRM meant in the last century and now? And let’s see how it transformed so far.
- In the early 1980s databases stored on individual computers were introduced.
- In the later 1980s, it was upgraded to Contact Management Software.
- In the early 1990s first CRM software was introduced.
- In 1995 Customer relationship management term was coined and CRM software was installed on computers.
- In the late 1990s with the help of companies like Salesforce CRM applications began moving to the cloud.
Functions of CRM software
Earlier spreadsheets were used for storing information, but they have a limitation of only 100 contacts. Plus only static information like name, address, phone number, etc can be viewed. For tracking dynamic information like what emails were opened, and what pages were viewed CRM software is required. CRM software always gives an update to businesses about the activities of their customers and clients.
Advancements in CRM over spreadsheets-
- Tracking and analyzing dynamic information is also possible.
- Automatic contact updates take place no need to be done manually.
- Data can be transferred from one software to another.
- Lead scoring is done based on the rules set by a business.
- Easily create scheduled reminders.
- Segmentation and personalization of data are done automatically.
By using CRM Software it’s easy to keep all the customers’ information in one place. All the data is streamlined and free from human errors. This saves a lot of time and effort of sales representatives. They can utilize this time to build more personal connections with customers and increase customer retention as well as get new customers.
Why do we need CRM Software?
● Centralization of Data
It’s hard to function if customers’ records are in different places like excel sheets, business cards, notes, etc. First, the organization needs to assemble the data together and then start working on it. With CRM software you don’t need to go through this process the data is automatically centralized as well as analyzed and segregated.
● Communication between various departments
If there’s a lack of communication between different departments of an organization then it affects the overall performance of the organization. Through CRM software employees of an organization can keep an eye on the activities of other departments as well.
- Enhanced customer relationships
When a particular sales representative leaves the organization then he/she takes away with them or the relationships built with customers and the trust that customers had in them. But with CRM software that problem won’t exist as every aspect of the customer’s lifecycle is recorded making it easy for any employee to function with it.
● Not missing upon any deal
With CRM software not only a particular person or team will have information about a particular order or invoice, it will be accessible to all. Hence there’s a possibility of not missing any deal.
Types of CRM Software
Cloud CRM
CRM is available through Cloud platforms. These CRMs are built on servers and maintained by service providers. Since these are built on cloud platforms there’s no need for software installation the service is simply accessible through a web browser over the internet.
On-premise CRM
You can get this CRM by setting up servers in your office and installing the software on the devices of your local network. There are no automatic upgrades, customization, or maintenance. Everything has to be done manually by the IT department.
Benefits of CRM software
● Increase in sales
With CRM software it’s easy to track and identify leads who are most likely to become your customers hence you don’t waste time on people who aren’t interested at all. This saves a lot of time and increases productivity.
● Automation of many tasks
Many of the repetitive and mundane tasks are automated reducing employees’ time, effort, load, and stress and increasing productivity and efficiency.
● Better decision-making
When the data is accurate, streamlined, and free from human errors then it becomes easy to analyze the scenario and make better decisions. Also, there are detailed reports showing the team’s performance.
● Data security
CRM software provides security to the maximum level hence there’s no worry about data getting transferred to an unwanted place.
- CRM mobile application
CRM software is also available in form of mobile applications hence now for accessing CRM software only a desktop is not required. Your team members can access it anytime and anywhere.
● Customer Retention
CRM records every data of a customer’s life cycle which makes it easy for sales representatives to understand a customer better and interact with them in a personalized manner. This makes customers feel that they got attention and does not let them feel rejected. This ultimately leads to customer retention and increased sales.
Conclusion-
Maintaining a good customer relationship is the ultimate goal of every business. Getting new customers and customer retention is key to increased ROI. Business spends their maximum time and effort in making their relationships better with their customers. Customer Relationship Management Software solves this problem for businesses. It is designed for enhancing a business’s relationship with its clients and customers. It automates several repetitive and monotonous tasks and records and tracks all data related to customers. This reduces the time and workload of people and they utilize this time in finding new leads and making their relationships better with their customers and clients.
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Author Bio
I am Aashna Khanna working at Outright Store. It is the leading SugarCRM and SuiteCRM extension provider in the market to generate more leads and enhance customers’ experience. Here, you get a 3-day trial and there are some free extensions as well for both SuiteCRM and SugarCRM.
