CRM stands for Customer Relationship Management. As the name simply focus on Customer Relationship, it means improving interaction and business with your customers, by set of integrated data driven software solutions.
Imagine if two Sales Executives are aggressively pursing same potential customer, without knowledge to each other, which will result in customer getting annoyed and company losing out on potential prospect.
This damage to the revenue can be monitored and controlled if there is an integrated centralized automated CRM system, where one can easily track customer interactions and leads made by other colleagues.
CRM helps in tracking sales leads, marketing, creating pipelines and delivering actions. Especially for small firms, its very helpful as it yields below benefits:
When any company launches multi channel campaigns via email, events etc the targeted audiences can be matched based on LinkedIn interactions and that can be converted into leads.
This also helps in automating and regulating better brand reputation and tracking multiple leads for.
- Sales and after service
As customers are targeted and connected through multi channels, they shall also be assured of real time service availability. In this AI bots are handy to get in touch with customer complaints and direct them to the required solution providing.
Apart from bots, hiring an executive to monitor survey feedback, customer forums etc. and personally getting in touch with them, shall improve the customer focus.
- Project management
CRM also helps in visualizing and planning for cost and revenue using insightful dashboards to anticipate and forecast project profitability.
By this the focus is directed towards deliverable actions to increase profitability.