Why CRM is Important for a Business

By Martech Outlook | Wednesday, April 07, 2021

Why CRM is Important for a Business  A customer relationship management system provides companies with predictive and prescriptive insights to optimize sales initiatives.

FREMONT, CA: Customer relationship management (CRM), as people know it today, emerged during the 1990s. CRM software was one of the first to provide features like contact management, database marketing, and sales force automation.

CRM software has become more complex in recent years, allowing different teams to collaborate and offering predictive and prescriptive insights to boost sales efforts. It also aids companies in integrating their offline and online marketing, customer support, and sales activities.

Most of the customers still want the same core CRM features that were first automated. It indicates that one of the main functions of CRM software is to handle leads and contacts to simplify sales processes.

Top 10 Customer Relationship Management Solution Companies in Europe - 2021With the various platforms available to reach out to consumers today, marketing features are also gaining momentum. As companies use data to understand consumer behavior and forecast sales volumes, the demand for reporting and analytics is growing.

Key CRM software functions

Lead management

The first step in the sales process is to generate leads. CRM software collects information about leads from various sources, such as online forms, phone calls, social media sites, and emails. Lead management functionality ensures that no leads are missed, and that leads are correctly scored and trained.

It also keeps track of how leads advance through the sales cycle and helps in selecting marketing campaigns to nurture them.

Contact management

Contact management includes incorporating customer information, like name, phone number, address, and social media handle, into a searchable database. It also keeps track of and saves customer interactions in the contact database, allowing for the development of a detailed client profile.

Contact management saves salespeople time and money by removing the need to remember customer information or scan various databases for them.

Email

When it comes to B2B communication, email is the most common option. Sending mass emails, tracking email exchanges with clients, planning drip email promotions, and sending automatic emails to clients for events like birthdays or anniversaries are all possible with email management.

Buyers desire the ability to incorporate the CRM framework with an existing email program like Outlook or Gmail.

See Also: Top CRM Solution Companies

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