Customer relationship management means optimizing client interactions to increase sales. In short, CRM is focusing on the client so they become loyal to your brand, purchase your product, and stick with you for the long term.
When most people speak about a CRM, they mean a software solution that supports this process. A CRM is a single tool that your company uses for client interactions throughout the sales cycle. It's essential for marketing automation, contact management, marketing customization, and real-time customer support.
A CRM system is a central repository for customer data. But often it only does part of the job. CRM software doesn't include valuable functionality like segmentation, sales trend identification, and forecast metrics—but Baremetrics does. Learn more with a Baremetrics free trial today.
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Definition of a CRM
A CRM solution is the hub of customer information for your company. It is a complete record of customer interactions with the brand. It contains essential details like contact information, history of phone calls to and from the company, email correspondence, and sometimes even the customer's public social media posts.
At every stage of the sales process, your salespeople can access customer information through the CRM platform. That streamlines workflow and lets your team know at a glance who your customers are—and how best to meet those customer's needs. Best of all, every member of your team is up-to-date on each customer, since all information about sales activities is in one place.
Who Uses a CRM?
Businesses of all sizes use customer relationship management software. Each of your company's departments benefit from CRM features. Here are just a few examples:
Marketing teams use CRM tools to automate marketing campaigns, like direct email marketing, manual correspondence for outreach, and follow-up after changes in customer behavior;
Sales reps use CRM platforms to manage client relations during all stages of the sales cycle. The CRM is also a way to spot new sales opportunities. CRM tools help agents get new leads into the sales pipeline—and even support lead management and lead scoring.
Customer support teams use CRM tools to monitor customer satisfaction. With an in-depth record of each customer's interaction with the company, it's easier to assess and improve the customer experience. This leads to greater retention long-term revenue growth.
Business development teams use a CRM software solution to streamline business processes. CRM tools show the stage of each customer in the sales cycle—allowing a startup or established company to gather data about success rates for sales initiatives, marketing campaigns, and capacity to spot and exploit new leads.
Non profit organizations also use CRMs to make sure their organization is running smoothly, though the tools may be customized to better suit their needs.
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Why Use a CRM?
Customer relationship management systems are ideal for sales teams, marketers, and indeed anyone working in a large or small business. It's the information you need to support current sales activities and to identify potential customers. It also solves many issues businesses of all kinds—from SaaS providers to e-commerce B2C startups—commonly face. Here are a few examples:
CRM data provides a single source of information. No matter who in your company a customer speaks with, the information will be the same. This can reduce confusion between team members and departments. It can also reduce client frustration and improve the customer experience.
CRM tools cut down on labor, by reducing data entry and cutting down on the number of "check-in" calls between sales team members to update on the status of files.
Sales CRM tools can help sales team members spend less time researching client information, and mobile CRM means they can do so on the go—even on the way to meet with the client.
A CRM is one of those indispensable management tools that makes everything easier on everyone, contributing to growth and an elevated customer experience.
How Baremetrics Can Help
CRM tools are how you get to know the people your business relies on for sales. Baremetrics gives you even deeper insights. Using your subscription, trial, and sales data, Baremetrics helps you analyze your business information to improve all areas of your operations. You can use Baremetrics to:
- Optimize pricing
- Analyze new customer behavior after free trials
- Sales and subscription forecasting
- Customer segmentation
- Rich customer profiles by real time data
This is information that goes beyond your simple sales spreadsheet. It provides a visualization of trends and insights that help you grow your company.
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