What is CRM and Why Should Your Business Be Using It?

When it comes to CRM, are you wondering what all the buzz is about? If your business involves sales of any kind — and what business doesn't? — you owe it to yourself and your bottom line to look into putting this powerful tool to work for you and your team.

CRM stands for customer relationship management, and that's exactly what it does. It's a software technology that allows you to optimize customer interactions and analyze large amounts of information to help drive strategic decisions. Take a look at just some of the ways CRM can transform your business.

Make Predictions without a Crystal Ball

The success of any business depends largely on being able to plan with confidence, especially when it comes to predicting revenue and necessary expenditures. One of the most powerful features of CRM is its ability to analyze key metrics and create accurate sales forecasting. Knowing that the projections are based on data and not just hunches will empower you to make bold decisions and take your business to new levels of prosperity.

In addition, a CRM helps your sales team determine which of their activities are the most profitable. Should they increase email contact or focus on face-to-face interactions? Each team member might have an opinion, but your CRM lays out the data so everyone understands the why behind the what when it comes to sales tactics.

Get To Know Your Customers

Another dynamic feature of CRM is its ability to collect and organize details about your customers effortlessly. Beyond simply keeping track of your customers' contact information, your CRM allows you to see how each customer has interacted with your company and where they are in their journey towards making a purchase. Segmenting your contacts by a variety of criteria is another way your CRM gives you the inside scoop on your customers. Need to reach out to everyone located within a specific geographic area? Want to offer a special incentive for people who made a purchase last year? Whatever the characteristics of the group you want to reach, your CRM stands ready to create a distribution list that fits.

Allow Your Sales Team to Shine

The power of CRM will free your team from many of the mundane and administrative tasks that distract them from their primary mission, which is increasing sales. Logging interactions such as phone calls and meetings as well as saving contact information and email chains are automated, leaving your talented team to focus on more impactful activities.

Integrating a CRM into your sales strategy shows your team how much you value their unique skills and talents. As robust and helpful as a CRM can be in automating many routine tasks, it can never replace the human touch of a proficient sales team.

Delight Your Customer at Every Turn

The success of any business depends on providing excellent value and service. While a great product might make a short-lived splash, sustained loyalty to your company can only be achieved by consistently creating a great customer experience. Consumers today can see right through any attempt at hard-sell tactics or less-than-authentic appeals.

That's where your CRM comes in. By providing you with detailed, accurate information about who your customers are and how they respond to your interactions with them, a CRM allows you to customize your approach. Instead of spending vast amounts of time and money tossing wide nets, you can appeal to your customers in a targeted way that respects their time and interests. Also, in the event an issue does arise, anyone on the team can easily follow the trail and resolve the situation quickly.

Managing and growing your business is a top priority. In today's increasingly competitive market, you need to leverage every possible advantage to succeed. Consider adding a CRM to your sales team's toolbox. It will quickly become a behind-the-scenes treasure for your team members and customers alike.

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Lewis Robinson

Lewis Robinson is a business consultant specializing in social media marketing, CRM, and sales. He's had the opportunity to manage his own startup businesses and currently freelances as a writer and business consultant. He can be contacted at ljrobinson.crm@gmail.com.
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