Equal parts strategy and technology, CRM is about using data to gain insight into customers and increase sales. Its success is contingent upon the company establishing and implementing a clear plan to use CRM tools.
CRM is a tool that allows companies to store data about prospects and customers, keep track of interactions, automate campaigns, and create reports. It lets companies communicate and interact with customers and prospects via a variety of channels such as text messages, email, and other social media platforms.
CRM isn’t only for sales. It can be utilized in any department within the company. For example the billing department can make use of CRM to track sales commissions, look over contracts and compare projections to actual revenues. Marketing departments can use it to identify patterns and opportunities to better target potential customers.
Sales teams create a tsunami of data each time they talk to the customer, talk to a new prospect or follow up on leads. The data was stored on analog media, such as notebooks and laptops or in the heads of team members. CRM systems allow data to be collected and stored in a central place that is instantly shared with all employees of the company, no matter what channel they are using.
And the most advanced CRMs are https://naukri-online-ads.com/business-advertising-boosts-sales-and-maintains-customer-relationship/ now integrated with AI and machine learning to interpret that data and provide actionable insights for each opportunity. The company can then improve their customer experience and increase engagement to increase loyalty and retention.