Customer Relationship Management (CRM) can be defined as an organized approach to develop, manage, and maintain beneficial relationships with customers. CRM is all about tracking and monitoring every interaction and communication that we have with our customers and their customers.
Basically, CRM provides an organization with a centralized hub, ensuring simplicity, security, and scalable customer interactions. All customers must be registered in the CRM tool’s database with some fields to identify their uniqueness so that the organization can connect with them when required. Therefore, CRM increases business profitability and customer lists and interactions.
There are several types of CRM to choose from based on customer requirements, such as operational CRM, analytical CRM, and collaborative CRM.
Features of a CRM System:
A suitable CRM helps achieve contact management, lead management, sales forecasting, real-time messaging among employees, email tracking and integration with Outlook and Gmail, file and content sharing, as well as analytics based on dashboards.
There are several well-known CRM tools such as Salesforce CRM, SAP CRM, ZOHO CRM, Oracle CRM, Microsoft Dynamics CRM, Nimble CRM, Sugar CRM, Hubspot CRM, Pipedrive CRM, CRM Creatio, etc. Additionally, we can also refer to other effective and reasonably priced CRM software:
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Benefits:
It provides better and improved customer/client relationships.
It supports improved cross-functionality and hence team collaboration.
CRM brings powerful efficiency in serving customers and brings greater employee satisfaction.
It reduces manual efforts and costs.
Limitations of NOT using a CRM tool:
Without CRM, it is challenging to manage customer contact lists in excel.
There is always a battle or movement between multiple tools.
Increased manual efforts to a significant extent.
Small scale deals are easily lost track of.
Less access to data and lesser customer satisfaction.
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