Understanding of CRM
In short, customer relationship management is CRM. Customer relationship management is just like a tool, software, technique, or strategy. It helps the businesses to establish and manage customer data. With the growth of the company, there is a need to use the benefits of CRM software for better results.
Customer relationship management is not just about interacting with customers. CRM is a multi-faceted marketing and sales software. Because these tools help in building customer support and it also manages contacts. They also focus on closing sales deals by using collaboration tools. Customer relationship management deals with potential deals and also nurtures the leads. It also maintains a dynamic storage capacity. CRM also uses smart and creative solutions for integrations with other third-party apps. This software also stores the reference data along with customer history.
Top 10 Key Benefits of CRM
There are many benefits of CRM software. But here we are going to discuss the top 10 key advantages of using CRM software.
Customer Contact Management
CRM provides a 360 angle view of the customers. The more you learn about your consumers, the more the success rates of businesses grow. CRM software offers effective tools for contact management. This also records the history of customers, purchases, emails, cases, and finally gives a closure of each interaction. 74% of companies say that CRM software increases access to consumer data. Customer Relationship Management gives a simple way to obtain consumer data. These solutions allow the staff for data syncing and giving recent information to the customers. Almost 46% of sales managers say those customer interactions are crucial for the success of any business. There is no wonder saying that CRM is a customer-centric service.
CRM helps the company with every sales cycle phase. It also schedules the appointments of the company, employees, and meetings. The software also has reminders for follow-up projects and activities. It also registers all the details of customer information and tracks every message transmission. CRM also performs functions like email writings, producing proposals, and quote formulation. Creating accurate and true forecasts is also one of the features of CRM. 65% of companies are achieving sales quotas by using mobile CRM.
Qualifying the Leads
This is one of the best aspects of CRM software. It is responsible for making visitors into leads. First of all, this examines the visitor like their interest and ability. The second step is obtaining the visitors and training them. Lastly, depending on the skills the leads are formed by this software. All this procedure is done by CRM tools using a pipeline system. The companies that use CRM software saw an increase in lead conversion rate by 300%.
One of the best options given by CRM is tracking options. This means it can track all the history of interactions between the company and its clients. CRM manages and submits reports. Among the CRM software features, the tracking feature request rate by companies is 88%. It helps in keeping track of leads, customers, suppliers, partners, and many more. The company can also use this to secure vital information, preferences, documents, invoices, etc.
Boosts the Profit and Revenue
CRM software gives a profit of $8.71 for every single dollar that is spent by the business firm. Many people dream of this feature. CRM increases the total revenue of the company. CRM software increases the company’s efficiency by 78%. This helps in giving a high ROI which in turn gives healthy profits. A report shows that CRM software increases revenue by 41% per sales representative.
CRM software also offers document management. The software starts with collecting the papers, grouping them into documents. Finally, it stocks all the reports and documents in the storage. Reports on daily, weekly, bi-weekly, monthly, and also yearly projects are also kept in control by the software. It also registers the funnel stage process, team member’s data, project status, and troubleshoot issues. CRM makes it flexible for real-time employees to access the data at the same time.
Customer relationship management software helps in lessening the project budget. In simple words, CRM reduces or removes the extra costs of the task or project. A report shows that by using CRM 40% of labour cost is reduced. CRM also helps in giving the most out of every single buck that is spent by the organization. A study reveals that 50% of businesses saw an increase in their company’s productivity by using mobile CRM.
CRM software uses automation tools for repetitive work. All these automation methods help the company and staff by saving them time and energy. CRM provides these automation solutions for sales, marketing, and customer service support.
To avoid situations like reaching out to a lead that is already done by another team and to save time. It is vital to have CRM software in your workplace. With the help of CRM, you can see the work done by the other teams. You can also communicate with the other internal departments. It also provides a single platform where the team members need to update their work and reports. This also reduces the chances of work overlapping and also clears chaos. For marketing and customer service teams, this is extremely beneficial.
CRM possesses several integration methods. With the help of the software, you can integrate with other third-party apps. It also has email integrations that include Outlook, Yahoo, Gmail, and many more. All these interactions help in managing and segmentation of the contacts and groups. Not only with outside apps, but CRM is also the center for internal collaborations.
The Reasons For Why Businesses Should Use CRM Software.
We have seen the benefits of CRM software. So, let’s see the reasons why companies need to use CRM software.
- According to the market researchers, the market value of CRM software is estimated to reach $80 billion by 2025
- CRM software is flexible and easy to use
- It focuses on attracting fresh customers and also deals with previous customers
- They offer tools for optimizing the marketing and sales in the corporation
- This also makes the company understand the areas that need to improve
- CRM performs customer and contact segmentation
- The software also provides the company with a mixed single database platform
- It also organizes and manages the data in sequence
- They provide support using tutorials and knowledge base FAQs
- CRM also regulates and controls communication in the organization
- All the customer’s data and information is stored safely with security details
Best CRM Software for Businesses
Below are the various types of software that give the most benefits of CRM software. They are:
Their software is good for every type of company. They offer some decent solutions for IT, travel, hospitality, healthcare, software connected industries. Around the world, more than 12,000 customers use this software. It is pocket-friendly and affordable software. PeppyBiz has several objectives such as customer support, list management, and CRM email marketing. This software came to the market in 2019 and since then it is increasing the consumers at the speed of light. Some of the features are Kanban boards, mergers, calendar views, Gantt projects, and many more.
Apptivo CRM is an all-around CRM and friendly software. This is best for small and medium businesses looking for strategic features. They offer vast features with several types of custom options. It also offers 24×7 support, safety and security controls, and easy mobile applications. Apptivo also has various creative integration tools. Some of the elements are list view, navigation panels, calendars, drop-down menu, robust campaign, newsfeed, custom formula, and a few more. Their software offers a free starting plan for 30 days. You can enjoy the free version of the software by signing up.
This software has a service hub, marketing hub, sales hub, CRM email marketing, and best ticketing management. Some of the features of this software are landing pages, active templates, sales emails, blog designs, and a few more. Their CMS assists the teams and departments in creating and visualizing drafts, videos, pictures, and many more. More than 68,000 clients use their software and they are scattered around 100+ countries. As per a study, the satisfaction score of companies that use this software is 97%. HubSpot software is free for up to 1,000,0000 users and offers unlimited data storage capacity.
Pipedrive software is web-based sales CRM software. It is good for sales clubs that need powerful and simple CRM software. This software performs in Android, iPhone, iPad, web-based, SaaS platforms. Managing campaigns, tracking, email marketing, and ticketing are some of the features of Pipedrive software. They also offer several integration solutions to integrate with other outer apps. A free trial for a particular time is given to users by this software.
Zoho software is a SaaS-based software. It provides the best crm for small business and fresh startup industries. One of the significant aspects is they have remarkable AI systems. Other features are templates, reporting, drag and drop element, reporting, data analysis, and many more. Zoho software performs in various devices like Android, iPad, iPhone, web-based, and cloud-based platforms. Their software offers a free trial along with a free app version. It is in use by over 50 million customers around the world.
Streak CRM is best for small, medium, startup companies. It is also suitable for small departments that want lightweight CRM. They provide simple collaboration tools with a single-click option. This is the only CRM that integrates fully with Gmail inbox and also works with G Suite applications. Streak CRM allows you to share emails, files, and contacts. It also assists in tracking various business processes.
91% of companies with more than 11 employees use CRM software. 50% of companies with 10 or less than employees use this software. CRM software improves customer relationships by tracking lead status, streamlining work, and interacting with clients. It also deals with previous customers and present active customers. The overall usage of CRM software rose from 56% in 2018 to 74% in 2019. So, the benefits of CRM software are widespread. The final purpose of CRM is to expand the sales and growth of the company with the help of business relations.
Sara is a Content Writer at PeppyBiz. She is not only a creative writer but also paints a beautiful canvas. She makes sure that you are left with no doubt about keeping up with marketing and sales.