What is CRM: A complete Guide to Understand

CRM helps businesses develop, acquire, and retain customers. CRM stands for Customer Relationship Management, it ensures good term relationships with customers to drive growth and profits. CRM made its debut in this highly competitive space just a few years ago, now, it has evolved to be this monstrous tool that businesses can not do without.

Customers are an indispensable part of business, without them, there is no scope of development, growth, or even existence of any business. Today, enterprises use software and tools to connect with customers, answer their queries, and asking them to come back.

What is CRM?

CRM builds a long-term relationship between customers and potential customers by managing the interaction between the two parties.

Designed to serve the departments of Sales, Marketing, and Services, it gathers customers’ data in one place and uses the centralized data to improve customer experience, satisfaction, retention, and services.

Managing customer relationships is not its only forte, CRM also focuses on the company’s relationship with team members, vendors, partners, colleagues, service users, and collaborators.

How does CRM works?

CRM gathers information from all platforms and manages it in one place. It pulls in customer data from social media, websites, email, voice calls, and other sources. CRM also records overall purchase history, personal info, and even purchasing behavior patterns to collaborate with businesses to close more deals.

Types of CRM System

Two main types of CRM system are

  • On-Premise
  • Cloud-Based

For on-premise CRM, a business has to purchase the license whereas, for the software-as-a-service (SaaS), cloud, or on-demand CRM, it records data on the vendor’s server.

Benefits

Here are some of the benefits of CRM.

  • Quality Customer Service – Customers leave if there is always a delayed response or they have to go to several platforms to have their issues heard. CRM practices quick fruitful responses for improved customer loyalty.
  • Increase Profits – Seal more deals by replying to customer’s queries on time, automating tasks, developing sales pipelines, and analyzing sales.
  • Retain Customers – It helps retain customers with its useful features like sentiment analysis, automated ticketing, customer support, and customer service automation.
  • Analysis – Analyze sales data, finance data, and marketing data in CRM metric to lay out or amend policies for Customer acquisition, retention, and data management.

Is CRM free?

In a perfect world, it would have been free. However, software so useful can not be free. It has a free version but it only unlocks limited features. A business has to pay to get access to high-powered features.

Mobile CRM

If not all, the Mobile CRM provides the most functions that a web app provides. For the on-the-move agile workforce, it allows to access or input data even when the individual is not in the office.

Small Business CRM

Many CRM software facilitates small businesses like Nimble, NoCRM.io, Zoho, Insightly, Freshsales, Zendesk Sunshine, Capsule, Copper, and Pipedrive. Among the lot, Pipedrive is the most trusted CRM by the businesses, ask a Pipedrive Consultant now about all the necessary details.

In brief, CRM is all about providing the service that customers remember all their lives for all the right reasons. Up your sales, save time and money with CRM.

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Christophe Rude

Christophe Rude

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