Customer relationship management (or CRM for short) is a notion that has become quite popular in recent years. However, many people in the business world aren’t quite sure of what CRM means and what it can bring to their companies.
Want to know more about customer relationship management? Here is the Alpha57 guide to CRM.
What is customer relationship management?
CRM is an ensemble of processes and/or technologies which help companies monitor customer interactions and therefore understand their clients in order to improve their business. While at its humble beginnings CRM consisted of Excel charts or personal lists, nowadays it mostly refers to a specially designed software that a company can purchase or even use for free. If a company chooses to explore the CRM and its possibilities, it can make necessary changes and boost its sales. So, is this software worth being taken into consideration?
Yes, CRM can be a valuable business tool, just ask team Alpha57. Firstly, this software will help you find new ways to deliver better products to your clients. Secondly, it will make communication with your customers better and more natural because it utilizes more individualized.
What are the characteristics of a great CRM? An efficient CRM will allow you to:
- Create a database of information about your current and even potential clients
- Transfer information directly to multiple divisions of your company and keep them up to date
- Keep the information safe
- Offer high-quality interaction with customers.
What are the advantages of customer relationship management?
One of the greatest advantages of a CRM is that it can provide relevant information to multiple teams within your company. Often, within a company, sales and support are handled by separate teams, which can cause issues in communication. With a good software, this becomes a non-issue as all teams can access the database and receive updated information. This will certainly provide your clients with better support solutions, which will ultimately make them more satisfied.
There are 3 types of CRM software:
With cloud-based system (also known as SaaS or On-demand service), data is stored externally with the employees having continuous access to information whenever they have an internet connection. Cloud-based systems have two main advantages: they are easy to use and are cost-effective, which is why numerous small companies opt for them. Their main disadvantage is the security risks that come with data being stored outside of the company.
Classic software solutions
If you are concerned with the security of your database, you can opt for softwares that you can purchase and install on the computers within your company. These softwares seem more costly at first, but they offer higher levels of security as all data is stored locally.
Open source programs
If you wish to be cost-effective, but aren’t satisfied with the cloud-based systems, you can always choose open source software. These softwares are usually free, but need some further development. If you have the possibility of building on these basic versions, you can end up with a quite useful CRM.
As you know by now, CRM can be a valuable tool of your company’s growth. If you want to create quality marketing, you need to avoid sending bland promotional emails to all your clients because modern customers won’t respond to this outdated marketing tool. Instead, invest in a good CRM, your business will appreciate it!