CRMs, Customer Relation Management software are designed to assist businesses with various administrative tasks, statutorily; they help to build a worthwhile relationship with customers. CRM in modern days has revolutionalised Customer Relation Management, making various strategies easy to employ to accrue high profitability and drive growth in businesses through maintenance of quality Customer Relation. The mechanism with which CRM software works involves synchronization among departments and units in a business also acts as a log of record for accounts and contacts through which it performs in largely automatic format tasks including marketing automation, customer service, and support.
Reportedly, CRM software is currently gaining ground across and becoming more widely accepted; it became the largest software market in 2017 and is projected to hit a record $35billion by 2023. CRM software can either be cloud-based or localized to the user’s computer server.
CRM software puts its users at great advantages in various ways and helps to breach the gap between small businesses and larger/ well-established ones, just like other technologies. Areas where users of CRM enjoy that great edge include but not limited to:
- Unitary and reliable database for customers
- Customer communication efficiency and maximum optimization
- Ability to establish and maintain long-term customer relationship and winning customer loyalty
- Easy identification of customers with special needs and peculiarities
- Automation of tasks
- Comprehensive insight into business performance.
CLASSICAL CRM FEATURES
Different types of CRM software exist, with various having uniqueness usually tailored towards the unique function it is expected to serve. However, certain features are usually found across almost all CRM software. These features are:
A typical CRM is generically expected to perform the task of storing contact information; including names, addresses, email addresses, social media accounts, and allow for easy accessibility through the ease of search and browsing of the database.
CRMs are programmed with features that allow for converting hopefuls into potential clients and nurturing to the eventual sale. Making use of this feature of CRMs will help in predicting accuracy and effectively tracking and managing leads, generating and analyzing special reports through customer queries, discussions, etc.
CRM is known to allow integration with email such as Gmail, Yahoo, Outlook, etc. This feature helps to create a unified platform for sending and receiving email communication and implementation of e-mail marketing strategy. CRM makes personalized email-marketing possible, so marketing efforts are structured to suit the need of each customer translating into more accurate lead targeting. The marketing automation that characterized this feature makes a marketing campaign that is flexible, less time-consuming, and highly integrated dataset.
DOCUMENT AND PROPOSAL MANAGEMENT
With CRMs, official documents can easily be shared in a centralized manner, with everyone involved allowed to access the document. The document can equally be created, commented on, worked with, or shared with workers and clients via CRMs. Another interesting thing about the feature is the workflow automation it provides, making it possible to track the document by proofing updates on opening, signing, correction, etc on the document. As CRM software land ease to its users in the cause of document sharing, it does the replica in proposal management, providing templates for quotes and proposals with the allowance of sharing with ease.
BEST CHOICE OF CRM
Several brands of CRM software currently exist and are available in the market, the choice of which is to be used or adopted will be better determined by several factors which include:
While some CRM software is free, and some offer some free features for free with other features only accessible by subscribing for premium plans. For paid and premium CRM prices can be as low as $12/month and can equally be as high as $250 or more to enjoy advanced features. While free CRM software may serve the need of small businesses and startups or larger ones with a low budget, larger companies or businesses requiring more sophisticated services may result in premium services. More so, free CRMs are characterized by their less integration, lack of email-tracking feature, etc.
PURPOSES OR USE OF CRM
The primary role or purpose of using CRMs is also factored in deciding which choice to go for, while some CRMs like Salesforce, Hubspot, etc, are good suit a wide range of businesses across various industries, some CRMs are specialized for specific businesses. Examples include Top Producer CRM, Propertybase, Zillow, BoomTown which are specially made for the real estate business. As well, Brightpearl, Suitesuccess, Malplewave are examples of CRM made specifically for Retail Management.
The needed feature a business outlet or an organization needs in a CRM informed by the particular problem it is willing to solve will affect the choice of CRM to go for. A firm with an existing strategy or policy will surely seek CRM that best suit its strategy and will effectively integrate with its system
Also Read: How to start an e-commerce business in 2023