29 Sep CRM a.k.a Customer Relationship Management (Yeah I didn’t know either)
CRM a.k.a Customer Relationship Management (Yeah I didn’t know either)
Have you found yourself hearing the acronym CRM thrown around by people you work with and had no clue what it means? You then went to go and google it, since they said ‘CRM’ with such confidence and you didn’t want to look dumb? If this sounds familiar, don’t worry you are not alone. CRM stands for Customer Relationship Management (after hearing this I was still clueless). I then went on to search for things that make a great CRM and the picture began to become clearer. Here’s what I found:
- CRM’s are an addition to a business used to improve customer satisfaction. It does this by tracking consumer behavior i.e. what did the customer click on etc… and by assisting sales agents.
- CRM’s are primarily used to increase sales. Therefore it should assist in:
- Helping sales agents manage leads
- Helping sales agents access information about leads quickly
- Helping sales agents close the sale
- In order for a CRM to be effective it should be easily accessible remotely. Therefore by phone or laptop. This helps sales agents as they can get customer information while in the field thereby reducing inefficient time by having to return to the office.
- CRM’s can provide analytical data. For example it could show a sales agent where in the consumer process they are losing the sale and therefore what they should work on to become a better sales person. Furthermore it could assist businesses in accessing where consumers are having most of their issues with the product or service. Thus allowing the business to rectify the issue and therefore improve consumer satisfaction.
- A CRM can be used to monitor a new campaign you’ve launched. Such as a special on a product. Does this special really make sense in terms of actual sales? Has the special done what you thought it would?
- CRM’s are a great tool for management to track their agents throughout the workflow process. From contacting the lead to the close. This can be a great tool for managers as they can then see where their agent is lacking and thereby assist them by training them in that area or suggesting courses they should take to improve.
Overall CRM’s seem to be a game changer. They are extremely useful if you select the right one for your business. You will be overwhelmed with choice if you do search for a CRM, so make sure to trial a few to see what you need, what you like and whether the CRM actually helps your business improve sales and customer satisfaction.