What is a CRM and why does my company need it?

We all know that having to control loads of data isn’t an easy task, on the contrary even, we need to be organized, quick and analytical thinkers, focused and so on. And if that information needs to be readily available to several people and be passed down from one employee to another, then things can get even more tiresome. So basically nobody would complain if you were to offer them a support system. That’s where the CRM comes in.

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What is a CRM and why does your company need it?

Customer relationship management software are tools to organize your contact info and manage your relationship with current and prospective customers, clients, and other contacts. You can consider address books obsolete and indulge in what the “R” from the CRM has to offer you and your business, which is the relationship component.

What is a CRM software, actually?

Let’s break this subject down and get a clear idea on what a CRM is, how it works and what it does to help you company.

Efficient sales teams work hard in order obtain all the possible information about their leads and customers. So when salespeople have to retrace their relationships with customers, or even if they need a quick update on a lead, they have to do multiple searches through several sources so that they can put every piece of the client puzzle together. And given that we live in a fast paced and time sensitive world, this approach isn’t sustainable at all if you’re looking for performance.

Enter … the CRM.

The CRM software brings together all the sales and customer service tools and techniques but also the philosophy of placing the client at the centre of the company and its concerns.

The aim is to efficiently explore the market and to retain customers by offering them a higher quality of service that is specifically adapted to their needs.

The goal of a CRM is also to assist sales, customer service and happiness specialist, marketing and administrational staff to become more efficient in their day-to-day work.

CRM vs Excel spreadsheets

The shortest definition and explanation to understand a CRM would be:

  • it helps sales people in their daily jobs
  • it centralizes all data in one place (emails, phone calls, all sorts of activities etc.)
  • it helps to share information and data between sales, customer services and marketing
  • it includes all of the interactions that your teams have had with prospects and clients
  • it lets you know when it’s time to make your follow-up calls or emails
  • it does the sales forecasting for you through various reports
  • it offers you some performance metrics that help you analyze the sales activities and get insights on several sales trends
  • it streamlines the sales process, from the lead acquisition phase to the sales conclusion (closed or lost) and it even takes things a little further to help you in your customer support efforts

In short, the CRM system is actually the tool that’s going to make the difference between winning a deal and losing it.

At its core, the Customer Relationship Manager software does just what it says it does: helps you build lasting relationships with your customers, by acting as a gateway to increased sales productivity, healthier pipelines and better coordination between company teams.

But what does a CRM actually do compared to Excel?

Each of the data fields can be updated, tweaked and customized as you go to fit your needs.

With an Excel spreadsheet, you might be able to track:

  • Name
  • Email
  • Phone number
  • Website
  • Address
  • Type of customer
  • Date purchased
  • And maybe some info on what you’ve been talking to the prospect/client

With a CRM, you can track all that plus:

  • Company size
  • Multiple contacts within a company
  • Contact title
  • Detailed notes history
  • Follow up and to-do activities based on notes and customer requests
  • Current sales pipeline stage
  • Detailed reporting
  • And more!

Only have a customer name and email address? That's going to be just about enough to use the CRM as a simple contact management system. A good CRM lets you add activities that you've planned or completed, like follow-ups with new prospects and then track data on what kinds of replies you either have or haven’t worked so far.

And this is how you integrate an awesome strategic task manager into your company workflow. You’ll be able to develop a meaningful, data-driven sales strategy. Moreso, by adding industry information and company size and you can segment customers by channel.

Benefits of using a CRM software instead of an Excel spreadsheet

  • better client relationships
  • increased team collaboration
  • improved ability to cross and up-sell
  • improved efficiency in offering client support
  • greater staff motivation and satisfaction
  • increased profitability and revenue
  • better client retention
  • lower costs

How hard is it to implement a CRM software in the company?

As you’ve probably heard, the negative side of implementing a CRM system isn’t the actual instalation but the user adoption rate. It’s the actual rate of people using the apps in their day to day activities.

We, at Nexus Electronics, have always considered that user adoption is critical. Even from the get-go, it’s a constant topic of conversation and we’re always analyzing how to make the user experience better.

For this purpose, we offer detailed trainings on the apps for every new client that chooses to work with us and we constantly ask for feedback from our users.

In conclusion, while setting up a CRM isn’t a difficult task, a successful implementation takes effort. Make sure you choose a CRM company that will work with your business to focus on the processes and users to ensure you are receiving value based enhancements.