What is CRM?

How it works and who should use it

CRM stands for Customer Relationship Management. A CRM is a software that helps businesses in tracking customer interactions and storing customer data in a single central location. 

CRM software aids businesses keep track of client data more effectively, resulting in improved organization, efficiency, and time management.

Your customer base is the most important asset for your business! As you grow, you’ll need a place for your sales team to access customer information and manage relationships. CRM systems give businesses the tools to manage and improve client relationships and create a profitable sales strategy.

With a CRM software, your sales team will be able to manage customer interactions, sales force automation, customer satisfaction, and any information more effectively, thanks to a complete record of individuals and companies (contact management). CRM platforms can help managers track team members’ sales activities and sales reps save time on data collection. CRM tools can accelerate your business operations both in  sales and marketing, and increase customer loyalty!

How CRM works

A CRM system helps businesses keep track of customer relationships. Small businesses may use excel spreadsheets or mailboxes for this purpose, but a CRM system can help when businesses get too large to manage customer relationships effectively.

With Excel you keep track of information horizontally:

  • E-mail
  • Phone
  • Website
  • Street address
  • Customer type

With a CRM:

  • More contacts within a company
  • Contact history
  • Sales pipeline
  • Reporting
  • and much more!

Each of these fields can be updated, optimized and customized to suit your needs.

So, if you have 100 or more contacts, you can start using a CRM like Onpipeline. It’s easy to add tasks, such as a follow-up with new leads, and tracking what kind of responses have (or haven’t) worked so far.

Running a business without CRM

The more time spent on administrative tasks, the less time available for other tasks. A sales team that is active and generating data can create a lot of work. Sales reps are often out of the office meeting with customers and prospects, and they can gather valuable information. However, this information is often not stored in a central location, making it difficult to access and use.

CRM is important not just for sales, but for all aspects of a business. Without CRM, details can be easily lost, meetings may not be followed up on promptly, and it can be difficult to prioritize customers.

Customers may be contacting you on a variety of channels asking questions, following up on orders, or contacting you about a problem, resulting in a slow or unsatisfactory response.

Even if you do successfully collect data, it can be difficult to make sense of it and extract intelligence. This can lead to managers not having visibility into what their teams are doing, which can result in a lack of accountability.

What are the Benefits of a CRM?

A CRM helps your sales team, your marketing department and anyone who comes into contact with customers.

1. Customer Service

A CRM helps your sales team, your marketing team and anyone who comes into contact with customers by managing all your leads and collecting important contact information.

2. Increase in sales

Streamlining the sales cycle, building a sales pipeline, managing the stage of sales (stage of the pipeline), and analyzing all sales data in a single location could result in higher profits.

3. Analysis

CRM software can help you break down data into smaller, more manageable pieces so that you can better understand it.

4. Productivity and efficiency

A CRM tool can help you avoid missed opportunities and improve your business processes by providing a sales pipeline.

5. Centralized database

A centralized database with all your contact information can be easily accessed by anyone in your company. CRM software also provides insights, allowing you to improve marketing campaigns.

6. Communications

A CRM system can help manage the process of lead nurturing by sending alerts to employees when they should contact a prospect and tracking every interaction.

7. Customer segmentation

A CRM lets you organize your contacts according to your own criteria, making it easy to find and contact the ones you want.

Why choose a Cloud-based CRM?

The cloud is a way to store and process digital information using internet-based software. This means that you can access a cloud-based CRM application from anywhere in the world with an internet connection.

The same information to anyone from anywhere

A cloud-based CRM solution allows users to work together by accessing the same – constantly updated – information without the need for expensive internal software and hardware maintenance. CRM systems that are cloud-based, such as Onpipeline, allow users to have the same information no matter where they are. This means that sales teams can check data, update it immediately after a meeting, or work from any location. The same information is available to anyone who needs it.

Cloud-based CRM systems offer many benefits, including freedom from the need to install software on a large number of devices. Moving data, software, and services into a secure online environment can help organizations worldwide improve their CRM systems.

Low costs

CRM can be easily implemented and doesn’t require special installation or hardware. This keeps IT costs low and eliminates the need to manage updates and versions. Cloud-based CRM systems are usually priced based on the number of users and the features needed. 

This can be more affordable and flexible than other options, allowing you to add more users as your business grows. Onpipeline is also flexible in terms of functionality, so you only pay for features that you need.

The return on investment of companies that invest in a CRM is at least 6 times higher than the money they spend to maintain the CRM application. It is always a cost-effective solution that improves customer relationships, customer experiences and customer service.

What is a Sales Pipeline?

A Sales Pipeline is a set of stages that a prospect moves through in a CRM system. Prospects are moved to the next sales pipeline stage after completing certain tasks. A Sales Pipeline is similar to a sales process, and refers to the actions that sales reps take for every Lead, such as calling to qualify them or sending proposals.

Sales Pipeline vs. Funnel

The Sales Pipeline is often confused with the sales funnel, but it is technically speaking a part of the funnel. A CRM tool with pipeline management can have a positive impact on performance by helping to define the sales process, identify losses, and simplify the conversion process.

Why salespeople need a CRM 

Sales CRM is a tool that doesn’t just solve problems like qualifying and following leads or prioritizing activities. In fact, it can handle a lot more.

1. Secure storage

CRM software helps salespeople securely store leads, sales opportunities, current deals and sales pipeline data in a central database.

2. Plan your time

CRM helps sales reps optimize their daily activities and prioritize their prospects to make sure that no customer is forgotten and that all prospects are contacted on time. This subsequently leads to more deals being closed.

3. Activity reports

CRM helps you prepare reports in a simple manner, and it only takes a few clicks to alert others that no transactions are currently active.

4. Stay up to date

CRM offers shared calendars, email and phone integration, social media messaging, keeping team members up to date. CRM also increases communication between salespeople and sales management.

5. Show up in time

By saving all customer communications, CRM helps salespeople get when customers should be contacted.

6. Rationalize your sales actions

CRM helps simplify the sales process, which means closing more deals in the sales pipeline and achieving goals.

7. Know what your customers really want

Salespeople should use the CRM to analyze customer needs and anticipate problems in order to increase customer satisfaction and loyalty. This will also lead to higher profit margins.

8. Save money

CRM systems may not be cheap, but they can save you time and money in the long run!

Do you need a CRM? 

Any company that wishes to maintain a customer relationship must have reports on their leads and customers, understand their sales team’s efficiency, and have customers interact with various departments within the organization.

Onpipeline is cloud-based CRM software. It means that users can access all of its features without having to install any hardware or software on their computer. The customer can be up and running in hours! With Onpipeline CRM software, you can manage accounts, contacts, leads, opportunities, and forecasts.

A sales pipeline is a series of stages that a prospect goes through. Once certain tasks are completed, the prospect moves on to the next stage. This is similar to a sales process, which refers to the actions sales reps take for each lead (e.g. qualifying them with a phone call, sending proposals, etc.).

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Onpipeline™ is a cloud-based CRM software that helps companies improve customer relationships. Our CRM systems help sales teams manage contacts, deals, activities, automations, and the entire sales process from anywhere. Should you have any questions about features, pricing or anything else, please contact us.

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