What is CRM? 

Definition of CRM and Benefits

A beginner’s guide to customer relationship management

What is Customer Relationship Management (CRM)?

In a nutshell, CRM means managing relationships with customers. A CRM Software refers to tools and technologies used to manage interactions with customers. CRM platforms are systems that connect the data from leads and customers in one place. 

For any business the most important asset is its customer base! As your business grows it becomes necessary to have a place where people involved in sales can access and manage information. 

In short, a CRM solution improves relationships with clients by providing businesses with tools to develop a successful sales strategy.

With a CRM software will capture customers interactions with your business, and highlight the information needed to have better conversations with your customers, thanks to a complete record of individuals and companies.

For this reason, managers with a CRM platform can access information about the progress of team members and Sales reps benefit from reduced time in collecting data about their clients and the opportunity to spend more time selling.

The best CRM applications can accelerate important business operations in marketing and sales, and increase customer loyalty!

How does a CRM work?

Contact management is the basic function of any crm system.

Small businesses use excel spreadsheets and mailboxes to keep track of these types of relationships. But at some point you are no longer able to follow relationships well.

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 50 or more contacts you can already start using a CRM Software like Onpipeline. Do you only have a customer name and an email address? It is enough to use a CRM.

A good CRM platform allows you to add tasks that you have planned or completed, such as follow-up with new prospects, and then track data on what types of responses have (or haven’t) worked so far.

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

CRM manages all your leads and collects important contact information. For this reason, it ensures that your employees have everything they need to know about the customer at their fingertips.

2. Increase in sales

Streamlining the sales process, building a sales pipeline, and analyzing all sales data in one place potentially increases sales.

3. Analysis

CRM software has built-in analytics capabilities to contextualize data, breaking it down into usable elements and easily understandable metrics.

4. Productivity and efficiency

A CRM tool can ensure that no opportunity escapes. Additionally, CRM software can show you a sales pipeline to help you improve your business processes.

5. Centralized database

A centralized database with all your contact information, easily accessible to anyone in your company.

6. Communications

Lead nurturing can be tricky. A CRM system helps manage the process, sending your employees alerts when they should contact the prospect, tracking every interaction.

7. Customer segmentation

A CRM segments your contact lists based on your criteria, making it easy to find the ones you want to contact at any given time.

Why choose a Cloud-based CRM?

The cloud is basically the use of software on the internet to store and process digital information. In other words, a cloud-based CRM application can access this information from anywhere in the world via an Internet connection.

A cloud-based CRM allows users to work together by accessing the same – constantly updated – information without the need for expensive internal software and hardware maintenance.

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, an essential factor for business success.

What is a Sales Pipeline?

In CRM a Sales Pipeline is the set of stages that a prospect moves through. Once some tasks have been completed (the stage has been completed) the prospect is moved to the next stage.

A Sales Pipeline is similar to your sales process, it refers to the actions that your sales reps make for every Lead (i.e. calling to qualify them, sending proposals, etc.).

Sales Pipeline vs. Funnel

The Sales Pipeline is often confused with the sales funnel. It’s not a big mistake, but technically speaking the Pipeline is a part of the Funnel. A Funnel is about Leads the Pipeline about Deals.

A CRM tool with a Pipeline Management has a positive impact on performance. It is not just a customer database, it helps define the sales process, identify losses and simplify the conversion process to bring leads to sales.

Why salespeople need a CRM? 

A 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 helps sellers to securely and centrally store their leads, sales opportunities, current deals and sales pipeline, in a single database!

2. Plan your time

CRM helps sales reps optimize daily activities and prioritize to make sure customers aren’t forgotten and prospects are contacted on time. In fact, CRM allows salespeople to have more time for customers, which consequently leads to more deals closed.

3. Activity reports

CRM helps you prepare reports easily. The process is automated and it only takes a few clicks to inform others which sales are currently in progress.

4. Stay up to date

CRM offers shared calendars and email integration, 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

All customer data is stored in the CRM and this helps salespeople analyze customer needs and anticipate their problems. All of this increases customer satisfaction and ensures loyalty, as well as higher profit margins.

8. Save money

While CRM systems aren’t all cheap, they actually help you save!
The time and cost of correcting these errors can be much higher.

Who should use a CRM?

The short answer is “any company that wants to effectively maintain a relationship with customers”. Do you need to maintain information on your leads and customers? Are customers interacting with different people in your company? Do you need a better understanding of your sales team productivity?

If you answered yes to at least one of the above questions you could benefit from a CRM platform.

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, forecasts, etc. All with high quality standards and highly competitive prices.

Onpipeline™ is a cloud-based CRM that helps companies improve customer relationships and never miss business opportunities. Sales teams can easily setup and 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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