What is CRM?

I bet you have come across, or heard the term “CRM” and you don’t know what it stands for. Or perhaps you have been handed a new project to implement CRM software in your business and you’re not exactly sure what features you need. Worry not, this blog will explain what a CRM is, and also highlight some key features we feel are important.

CRM stands for Customer Relation Management. It’s a type of software that businesses use to manage their contacts and customers. CRM’s help businesses organize all their key information in one place. This becomes more and more important as businesses grow. You see, as a business grows it’s quite logical that the number of contacts increase, as well as it’s number of customers. Some businesses experience exponential growth, and for these companies to fully exploit their opportunity they need a CRM to organize all their information in one accessible place. A CRM can be used by any business. It doesn’t matter what industry you are in – this is the beauty of CRM.

Traditionally businesses used a manual system, or spreadsheet to track all their contacts, customers, and sales information. As a business grows this becomes impractical to keep track of manually. A CRM automates this and lets you focus on the important things. A good CRM will go one step further and streamline your sales process, via a sales pipeline, which in turn makes it easier to manage. And if that’s not enough it will use analytics to help you forecast future sales in the most efficient manner possible.

Ok. I am interested. What is the best CRM software in 2019?

Well 2019 has only started, so it’s a little too early to answer that question. And to be honest there is no one best CRM solution. What do we mean I hear you say – well the best choice of CRM will depend on a combination of factors, such as the unique needs and challenges of your specific business, e.g. are you a large or small business, or are you losing an above average amount of sales to competitors due to communication issues?

That said we think if you are only getting started with CRM instead of naming one CRM as the best we can instead emphasize three key features we believe you should think about when considering a CRM:

  1. Lead Management

Converting leads to loyal customers is the goal of any sales department, and dare we say business. Lead management helps you get to know your customers more. It keeps track of all contact information and interactions between your business and the customer. It can also hold valuable company information such as preferred method of communication, and a leads role in the buying decision making process at their respective organization.

  1. Sales Pipeline

With an ever increasing amount of potential sales it can become too easy to get lost in the data. A good sales pipeline helps you to visually understand your sales process at a glance. On top of this a good sales pipeline should be editable with drag and drop features which allow you to focus on key criteria in order to get a better understanding of your data.

  1. Reports

As the amount of data increases it becomes easier and easier to miss something important. This is why reports and the analytics they are built on are so important.  The CRM you choose must be able to summarize your data, and provide clear insights with just a few clicks. Important reports include those such as Sales Forecast, Sales Conversion, Win Loss Percentage, and Profitability reports.

It doesn’t matter what industry you are in, when choosing a CRM, it is vital that it has the above features.   If after reading this, you have any questions please get in touch with the RunSensible team as we’d be happy to help you choose an innovative, and simple to use CRM that matches your needs.