What is CRM?
Customer relationship management (CRM) is the process of managing interactions with existing as well as past and potential customers. A CRM platform allow companies to improve business relationships with customers.
Top 5 benefits of CRM platform;
- Act as a Centralized database
- Track all engagements with the prospects
- Never miss a follow-up
- Sales Forecasting
1.Act as a Centralized database
CRM acts a centralized database for your sales team to update all prospect information at one place. It can be accessed by anyone from the sales team from any part of the world via a shared location. CRM helps the sales team in finding the information they need about prospects to follow up and close deals.
2.Track all engagements with the prospects
All engagement both internal and external can be tracked through a CRM. This allows sales reps to track all parts of the buyer’s journey, including every communication, email, phone call, in person meeting and more.
CRM reminds the sales team to do follow up with the prospects on time.
CRM provides reporting features such as sales dashboard and reports. These features allow sales team to better automate and manage their pipelines, deals and contacts. Sales reps can evaluate their personal performance and keep track of their objectives and can do the necessary work to reach their sales goals.
Sales Managers can use sales dashboard and reports to monitor every sales rep’s personal performance and they can also see the sales pipelines and deals closed.
4. Never miss a follow-up
By using an CRM, you will never miss a follow up with your prospects. CRM tracks all of your prospect activity which helps sales rep know when they need to follow up with specific prospect. CRM reminds the sales team to do follow up with the prospects on time. This will help the sales reps increase the chance of closing more deals.
CRM allow sales managers to forecast their sales by using the sales dashboard and reports. Since every activity of the prospect is tracked, it allows the sales heads to create sales projections for the upcoming months by informed decision.