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Why a Customer Relationship Management System Important for your business.

Why a Customer Relationship Management System Important for your business.

In this competitive day and age, a customer relationship management system(CRM) will keep you ahead of the competition by ensuring that “Customer remains King”. A CRM:

  1. Enhances Better Customer Service.
  2. Facilitates discovery of new customers.
  3. Increases customer revenues.
  4. Helps the sales team in closing deals faster.
  5. Enhances effective cross and up selling of products.
  6. Simplifies the sales and marketing processes.
  7. Makes call centers more efficient.
  8. Enhances customer loyalty.

At its core, CRM is all of the activities, strategies, and technologies that companies use to manage their interactions with their current and potential customers. A saying frequently heard and said in many businesses is “the customer is king.”

CRM helps businesses build a relationship with their customers that, in turn, creates loyalty and customer retention. Since customer loyalty and revenue are both qualities that affect a company’s revenue, CRM is a management strategy that results in increased profits for a business. At its core, a CRM tool creates a simple user interface for a collection of data that helps businesses recognize and communicate with customers in a scalable way.

Leslie Ye, the editor at Hubspot’s Sales Blog, describes a CRM in the following way: “Beyond contact info, CRMs log reps’ touchpoints with their prospects, including emails, phone calls, voicemails, and in-person meetings. Some CRMs offer the ability to track deal stages and reasons for closed-lost and closed-won deals.”

According to Gartner, CRM software totaled $26.3 billion in 2015 and predicts that that figure will continue to rise through 2018.

At its core, customer relationship management is simple. However, it can be implemented in a huge array of methods: websites, social media, telephone calls, chat, mail, email, and various marketing materials can all be integrated into a CRM solution. Due to CRM’s diversity, it doesn’t only benefit larger businesses — using and maintaining a CRM tool is the basis for a scalable sales and marketing system. Any company will benefit from maintaining a record of which conversations, purchases and marketing material can be associated with leads and customers.

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