Customer relationship management (CRM) software is a phrase used to describe a category of enterprise software that covers a broad set of applications and software to help businesses manage customer data and customer interaction, access business information, automate sales, marketing and customer support and also manage employee, vendor and partner relationships.

Lets take a look at the key benefits of CRM Software…

1. CRM software can increase revenues:

Quite simply, CRM software can help you sell more by improving your selling processes and open up new avenues based on the comprehensive view and customer intelligence available from CRM analytics.

2. CRM Software can reduce costs:

CRM software is a powerful tool for reducing inefficiencies that are costing your business money. For example, CRM software can reduce your customer acquisition costs in several ways, such as making your sales force more efficient, and allowing them to call on more customers with more relevant messaging.

3. CRM Software can increase margins:

One of the most powerful benefits CRM software offers is a complete view of your customers and customer relationships. That includes their needs, preferences and buying patterns. Among other things this makes it easier to upsell your customers by knowing their needs more intimately.

4. Enhanced Customer Service:

CRM software is a great tool for auditing, training and tracking information such as complaint calls, and therefore very useful in identifying a customer’s needs. Customer service representatives will have a larger scale of information to better serve a customer. They can view contracts, prior pricing, shipping information and even personal information about a customer to make it a more personable experience.

5. Improved Sales and Marketing Tactics:

CRM software helps an organization’s sales team to work more efficiently. They can monitor their pipeline and track the lead-to-sale process, review each other’s notes on customers and share product and contract information. A manager will be able to better measure productivity by having access to monitor the time the sales team spends on certain activities. This is a valuable tool because a manger can use this information in performance evaluation of employees.

6. Sales Rep Management:

If you have assembled a team of sales reps, it’s important to keep tabs on their progress and know just how effective they are at nurturing leads and closing sales. CRM software will provide a firsthand look into each team member’s sales statistics, including information like average lead contact time, task completion time and conversion rate. This way you can reward the top performers and coach individuals who need some extra help.

7. Increased Organization:

When dealing with hundreds or even thousands of customers, it’s easy to become disorganized and overwhelmed. Fortunately, the right CRM software makes it simple and intuitive to keep customer information organized and retrievable. By maintaining a contact list, it gives you quick access to a wealth of information like customer email, telephone, buying history and birthday.

8. Task Tracking:

Meeting deadlines is very important in today’s business world. By inputting information like scheduled appointments and important tasks, it takes the guesswork out of project completion. Many CRM software platforms also allow this data to be synced with a calendar to keep you informed of upcoming tasks and deadlines. This way you can juggle all of your tasks while ensuring that each customer gets the attention they need and nothing is forgotten.

9. More Selling Opportunities:

As information on customers accumulates, it’s common for more opportunities to present themselves. For example, keeping track of a particular customer’s buying patterns would make it clear what they are most interested in. By capitalizing on an existing customer base, you can get more repeat sales while keeping customers happy.

10. Improved Social Media Marketing:

Another feature that most CRM Software offers is the ability to integrate with social media networks like Facebook, LinkedIn, Twitter and Pinterest. This can have major advantages because it allows businesses to track all aspects of their social media campaign. For example, business owners can identify which networks are resulting in the most traffic, what followers are saying about their brand and the overall customer experience.

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