So, just what do we mean when we say “CRM?”
CRM stands for “Customer Relationship Management” (or, sometimes, “Client Relationship Management”). A CRM is a system for managing a company’s interactions with their customers and potential customers. You may already know what a CRM is, or use one on a daily basis. If you are running your own business, or are involved in the running of a business, CRM is fundamental to the day-to-day management of the business and its processes. In the days before software, your Rolodex was your CRM.
Today’s CRM systems, of course, are much more complex and useful than a Rolodex. A typical Software as a Service (SaaS) CRM system manages more than customer data. It will also manage internal business workflows and tasks, keep track of historical customer interactions, and much more.
CRM systems typically handle customer interactions in three distinct phases – before the sale (Leads), during the sale (Opportunities), and after the sale (Customers or Clients).
Lead management will include managing your pipeline, keeping track of your sales team, handling lead data, and understanding your interactions with leads – what you are sending them and what they are paying attention to.
Opportunity management includes tracking every phase of the negotiation process and conversion of the opportunity into a Customer or Client. Some CRMs will also have an internal mechanism for handling contracts and invoicing.
Once the deal has been closed, Customer management ensures that you retain your Customers and are able to provide them with your best products or services. This includes account setup processes, communications management to ensure that your business is top-of-mind, opportunities to upsell, and tracking of renewal opportunities.
All phases of CRM management will involve tracking of communications you are having internally and with leads and customers. Robust reporting of lead conversion rates and sales data is also a hallmark of modern CRM systems.
 One of the first high-profile “modern” SaaS CRM systems was Salesforce. Today, there are many systems to choose from, based on the size of your business and your overall business needs. Aside from Salesforce, some of the most popular systems include:
No matter the size of your business, a good CRM system is essential to thriving in the modern business world. If you are still using a spreadsheet or even pen and paper to track your leads and clients (hello Rolodex!), you need to strongly consider moving to a modern CRM system. By using a CRM system, you will be better able to find and manage leads and convert them into customers. It will be easier to maintain your existing customers through regular communications and help provide better experiences and connections. Most importantly, you will be better able to understand what your customers want and need by utilizing analytical data.
Overall, CRM systems help you increase profit by automating processes, tracking what you are currently doing, and helping you to do it better, leading to making more sales and retaining more clients. Whether you are not currently using a CRM system and want to start, or have one and want to use it more effectively (or switch to a different one), we can help. Let’s talk!