What does CRM do?

Customer relationship management system (CRM system) refers to the strategy of obtaining more business opportunities by using customer data, transaction records and data generated by interaction with customers, which mainly involves sales, marketing and enterprise strategy formulation to a certain extent. Its goal is to establish a long-term and profitable relationship with customers. How to understand customers' needs and interests through CRM and provide better and more personalized sales and support experience is what CRM system or software should do for enterprises.

First, the value of CRM

According to the data of the research center, for every 1 dollar spent by users on the CRM system, the average return on investment is $8.765438 +0. According to an independent study by Aberdeen Group, in enterprises that manage customers and sales through CRM, more than 24% of salespeople have achieved the annual sales target. Through the correct use of CRM system, it brings transparency of management to enterprises, reduces internal friction and workload of employees, and improves business income and work efficiency of enterprises.

Remarks: The traditional customer follow-up and sales methods are no longer in line with the fast-paced operation mode of today's multi-tasking workflow. Therefore, it is very important to adopt CRM, abandon the traditional customer and sales management methods and improve the efficiency and productivity of enterprises.

What does a CRM system do?

As mentioned above, CRM is a system that runs sales tasks and processes. These include integrating CRM data from various sources in a centralized database, such as customer data, sales data and marketing activities. In most cases, CRM software integrates sales, support and marketing processes and other necessary information management modules. The core functions of CRM software include:

1, providing customers with a 360-degree viewing angle.

2. Monitor/manage sales process and transaction data

3. Automate customer-related processes

4. Allow cross-departmental collaboration

5. Monitor/manage customer tracking records.

In-depth analysis of the role of CRM software

Second, why is CRM important?

Many business management experts believe that the cost of developing new customers is five times that of maintaining existing customers. It's much easier to sell to people who have already used your product and know you. By maintaining existing customers, CRM will increase revenue channels, ensure stable income and help you find new customers better.

However, according to an article in Forbes, many companies do not participate in the interaction with customers. Even if the existing customers are satisfied with the product, the possibility of second purchase is not high. And CRM not only helps enterprises to maintain old customers, but also manages the individual needs of these customers through a 360-degree family view. Therefore, in the era when customers are highly connected and require real-time response, enterprises can use CRM to provide personalized interaction for thousands (even hundreds of thousands or more) of customers and tap the value of more existing customers.

What benefits can CRM software bring to enterprises?

Third, what are the benefits of CRM?

We have answered this question: "What does a CRM system do?" Moreover, we find that it is easier for customers to buy after using CRM system to provide personalized services to more customers. In popular CRM software tools, the goal is to meet their needs by understanding customers. By summarizing customer data and keeping customer processes synchronized, CRM can help your company achieve the following goals:

What are the important and commonly used functions of CRM software?

1, better customer insight. Even if there are tens of thousands of customers, you can see their whole picture. CRM organizes customer data and customer-related businesses, including transactions, complaints, processes and so on. In this way, you have a deeper understanding of customer interests, preferred products in your industry, frequent problems and so on. The CRM system integrates all this information, and in the process, you can analyze the data in different ways.

2. Consistent data. CRM keeps the customer development process synchronized between different departments, so the data is unified and consistent throughout the company. This enables your employees to maintain consistent communication with customers by accessing a public database showing recent customer activities, communications and status. Whether it's providing support or sales calls, your employees will see the latest customer records. This means that salespeople can take further actions faster and more conveniently. CRM saves you from repeating the same work (or worse, contradictory work).

3. Automated workflow. When you have thousands or more customers, the process of recording customer data or generating reports becomes very cumbersome. CRM system automates these time-consuming manual tasks. You can focus on core activities, such as sales, development activities or strategic planning.

4. More efficient. When the process is automated and the data is synchronized, it will provide your team with strong collaboration ability, and your department will run in one system. They can collaborate on the same CRM platform, enjoy and improve the data, and communicate more clearly. Your team will complete tasks faster, especially those involving cross-departmental cooperation.

5. Better decision. CRM allows you to discover patterns from a large amount of customer data. With this knowledge, you can make more informed decisions. Customer insight is very important, especially in strategic planning (such as product development and brand). An excellent CRM system allows you to analyze customer data in different ways and show you important customer information, so that you can better adjust your sales strategy.