What is CRM?

CRM stands for customer relationship services, it is a technology to manage company’s interaction with current and potential buyers, its goal is to improve relationships and enhance your business. CRM makes sure that company is in continuous contact with its potential customers to improve profitability.

To fulfill all customer needs, managing different customers simultaneously can be a bit difficult, that is why businesses need CRM software, it simply manages customer data.

Role of CRM in Small Business:

The role of CRM in small business is to store and manage all data for every kind of contact from leads to business partners.

It might sound like a spreadsheet but it's not. A spreadsheet can track up-to 100 contacts, it can’t compete with CRM in tracking much complex, dynamic data. CRM can easily check which email a contact has opened ,which page they have visited on your website or what was their last purchase date.

As soon as any of your leads and customers take any action your CRM will automatically get updated , meanwhile in the case of spreadsheets you have to add everything manually.

CRM leads scoring feature can easily detect which lead is interested or not, all you need to do is you need to set few rules according to your business, points are added to a lead record for important actions as your lead takes any actions , so it becomes easy for your sales team to figure out to focus on which lead, without CRM lead scoring feature is not possible.

Advantage of using CRM:

• ● Customer service and retention
• ● Increased sales
• ● Analytics
• ● Higher production
• ● Cultivating new leads
• ● Better marketing
• ● Increased profitability

Disadvantage of using CRM:

• ● CRM is not able to handle backend operations like production, warehousing, shipping, engineering or finances.
• ● If any lead is finalized outside the CRM system , it will not count it, resulting in lowering its effectiveness.

Applicationof CRM in small Business:

• ● Tracking customer and contact management
• ● Collecting data for marketing
• ● Improving interactions and communications
• ● Streamlining internal sales process
• ● Planning your operations