‘Customer relationship management’ or ‘CRM’ for short, refers to the technology and processes that your business uses to manage its contacts and relationships, both internal and external. These contacts might include email subscribers, sales leads, sales opportunities, customers and employees.
There are many different purposes to using CRM, including:
- Organizing and tracking relevant information for lead acquisition
- Nurturing leads
- Closing deals
- Retaining customers
- Building relationships
- Increasing sales
- Creating a personalized customer service
- Making the overall sales process more efficient
The best way to utilize CRM technology is to implement it as a company-wide strategic function. From proper preparation for a sales pitch to the customization of follow-ups and sales analysis, CRM can enhance the selling process and give every salesperson the tools and insight to sell more effectively.
Each company will use CRM technology differently, and what works for one may not work for another.
Effective training in all relevant aspects of CRM is imperative. Without this knowledge, you’re missing out on prime opportunities to reach the right leads and push them through your sales funnel with greater efficiency.
Which elements of CRM do you feel most confident with, and are there any areas of CRM technology or strategy that you’d like to learn more about?