Introduction to CRM (Customer Relationship Management)
You want to make new customer or manage existing Customers, Customer Relationship Management (CRM) is the solution.
So..What is CRM?
CRM stands for ‘Customer Relationship Management’. Every business depends on Customer Engagement. It helps to focus on organisation’s relationships with various stakeholders like customer, supplier, users, sales reps etc. CRM is the practice which is used to manage the overall lifecycle of customer engagement, providing values to the customer and make WIN-WIN situation.
Suppose you meet with any new person and he/she gives you his/her visiting card. The visiting card you received can give you the opportunity to make the relationship stronger which may result to add a new logo in your client list.
How, is it possible?
Ok, you have visiting card, you have name and contact details of the person. So, That’s your LEAD. What is lead now? Lead is the person/entity who may be interested in your product or services. Just look at the Visiting card, you will find – Name, Email, Company and contact number. That is very much sufficient to create a Lead record in your CRM software.
You won the first battle, you started with zero, now you have at least a lead who can be interested in your business. Without wasting any time, send the handshake email and tell him/her, how much you value the first meeting. CRM software helps in interacting the customer. You can send email, call text from your CRM to your lead and explain about your business/offerings. If you find that customer is interested in your product or services, you will qualify the lead and take as an opportunity. In CRM term, you will convert the lead. Once, you convert the lead, you will have Account, Opportunity and Contact records in your CRM system.
You will keep exchanging the thoughts, resolve customer queries, understand customer requirement and provide valuable suggestion before going for the formal quote. All these activities can be recorded and tracked in CRM software like Salesforce.com.
CRM is not just for Sales. It enables lot of other capabilities like Service, Marketing, Quote-To-Cash etc. It also provides platform for data Analytics.
Sales Activities :
Campaign > Qualify Leads > Convert Lead and Create Opportunities and Customers > Engage Customer and track opportunity
Marketing Activities :
Run Campaign > Generate Leads > Hand Over to Sales
Configuration of Product (Virtual Assembling) > Pricing > Generate Quote and Manage Order.
Analytics is very important feature of any good CRM. It helps organization to understand the current and past performance, Pipeline and forecasting.
There are many CRM system available in the Market like Salesforce, Sugar, Zoho.
Wish you the best and Happy Reading!
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