What is CRM?
What is CRM and CRM Meaning. It is one of the fastest growing software solutions that become an indispensable part at any businesses this is an undebatable fact and shall not come as a surprise taking into account its ease of use, good reputation and high level of security.
In brief, CRM is a software developed to organize and manage the relations with customers, its work method is collecting information and storing it on servers, protecting them by different security mechanisms, it is customized according to each business needs that obtain the exclusive right to access its own data, this article will discuss what is CRM and its necessity in businesses, in a very simple manner.
Firstly, CRM meaning goes for the phrase of Customer Relationship Management, simply it is a software solution that includes a comprehensive set of applications that combine all the business processes, data, and information in one coherent unit, it includes all your deals, customers’ full data in one interface, in other words, it is a huge mine of information in one place, hence it is considered one of the most incredible management solutions that increase the value of your business gradually.
Regardless of the size of the company, accomplishing the success in a business is not an easy task and CRM has proved that it is capable of handling any tasks relevant to the relations with customers considering that processes of assembling and analyzing data, providing customer services, assuring customer satisfaction and tracking the whole process, must go altogether at one time, therefore it is highly required to have a reliable solution that performs all these strides simultaneously, achieve consistency and facilitate the process of making decisions, for these reasons the most reputable businesses adopted it.
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The Importance of CRM
According to statistics, it was concluded that within the first five years of establishing a company 65% of them adopt CRM to run their work, this makes us wonder what is CRM major benefit, and why this high percentage of businesses choose it?
Majority of businesses believe that CRM is their valuable asset taking into account its endless functions that can be fulfilled including; controlling all deals with customers from one screen, preparing reports accurately, measuring the customers’ behavior, recognize their needs and track their interactions, integrating with the most beneficial applications to ensure that the whole interactions within work environment go smoothly, achieving customer’s satisfaction.
In addition, it is worth to note that this huge data on CRM is considered a basic to figure out more useful actions to be implemented as making accurate, decisive decisions, offering trusted reports to salesmen so they can correctly predict the volume of sales and profits in a specific period, furthermore it gives the advantage of monitoring the businesses their KPI which enable them to make corrections when it is necessary.
Regarding what is CRM security issue, it is settled that data security is one of the top priorities of any business, thus CRM system developed exceptional security tools and measures that ensure data access control, monitor users’ actions and provide customized versions of the system authorized by the businesses’ members only.
When it comes to figures we can say that the average ROI for CRM is $8 per every 1$ spent; also statistics showed that 74% of the businesses using the system confirmed that it improved the process of accessing the customers’ data. Moreover, it is proved that 47% of CRM users emphasize that the system has a notable influence concerning increasing customer satisfaction and loyalty.
Utilizing CRM in Marketing
Traditionally it is common that CRM is used for marketing purposes as it can give a wide-range of benefits within the whole business or organization
When we come to the fact that about 8 out of 10 customers agree to pay more in order to obtain a better purchasing experience, CRM can handle this task and preventing your business from losing more customers as it shall offer them a high-level of service, and helps businesses to follow-up their sales conversions and check the potential consumers, hence enhancing the productivity of companies to the maximum level.
What’s more, there is mobile-based CRM which is very beneficial to your salesmen, it allows them to access the data quickly and to achieve your business’s sales targets, figures reported that 65% salesmen who use mobile CRM have achieved their sales targets compared to 22% who don’t use it, also the same percent could uplift their productivity by 26%.
Now, it is perfectly clear that running businesses without using this valuable system make the mission so difficult, as the pressing demands of the modern business require exceptional solutions to be fulfilled, it is no longer an option to adopt it.
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