What is CRM and Its Features

What is CRM?

CRM means Customer Relationship Management. It helps an MNC company or organization to maintain relationships or interactions with Present and future customers. It helps to increase the profits.

Basic Features of CRM?

  • Contact Management
  • Customer Service / Support
  • Interaction Tracking
  • Lead Management
  • Sales Pipeline Management
  • Reporting / Analytics

Contact Management: Contact Management refers how to companies store and manage the contact information of clients, partners, and other stakeholders

Customer Service / Support: At the time of purchase, customers are also looking for better customer service. If any problem with the product customer directly calls the company technician or company will provide CRM to solve the issues. Customer raise a case that is routed to the technical team in the company. So information technology will solve that case and get customer feedback.

 Interaction Tracking: This is the process of gathering the information of customer interactions with the business. It does not only track the customers who bought a product or a service but also keeps tracking with their mobile phones of future prospects and how they interact with the organizations.

Lead Management: In lead management first we arrange campaigning about the product. In campaign we collect information about people who attend the campaign or visit the Company site. That people we call them as Prospect or we treat them as Opportunity in CRM. 

 Sales Pipeline Management: If Your sales stagnating. You are looking to improve sales performance by sales pipeline. To improve sales pipeline by reviewing the entire sales process from Sales admin to Follow-up.

 Reporting / Analytics: We create a Reports based on requirement of the top management. Reports will create by giving filter condition or criteria. Reports will generate Daily, Weekly, Monthly, Quarterly, Half-Yearly and Yearly.

Advanced Features of CRM?

  • Email Integration
  • Document Management
  • Workflow Automation
  • Forecasting

  Email Integration: Tying together of systems, tools and software for the process around Email marketing called Email Integration. They allow marketers to unite Email service providers with CRM for personalized, efficient and relevant messages.

 Document Management: Document Management system is used to track, manage and store the documents and reduce the paper(converting paper documents into digital documents).

 Workflow Automation: workflow automation options allow businesses to run manual tasks, activities, and processes through a centralized system with less human involvement.

 Forecasting: Forecasting is the predictions of the future business based on past and present business data. Forecasting is useful to avoid business uncertainty in the future by examining the past and present data of the business.

 

Popular CRM Providers 

  • SIEBEL
  • MICROSOFT DYNAMICS
  • ZOHO CRM
  • HUBSPOT
  • ZENDESK
  • SUGAR CRM
  • NETSUITE
  • SALESFORCE

 

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