Update 6/22/2021: This post has been updated with additional information about CRM Software and its usability.
CRM or Customer Relationship Management solutions have become an essential tool for business in the present era. CRMs help organizations improve customer relationships and facilitate improvements in sales figures, and cutting down costs.
Looking for CRM Software? Check out SoftwareSuggest’s list of the best crm software solutions.
Customer Relationship Management system primarily help businesses collect and store customer information and communicate with them digitally. However, modern CRM software solutions help organizations in the acquisition, development, and retention of customers. These solutions acquire customer information from multiple channels, including personal information, purchase history, and purchasing patterns of buyers. This helps businesses learn about their customers, improve their marketing efforts, identify sales opportunities, and understand service issues.
As more and more businesses understand the value of CRMs, their popularity has been increasing steadily. In 2020, the overall usage of CRM systems and practices rose from 56 to 74%. This is because they help businesses find new buyers continuously, win their trust, offer support and offer additional services to facilitate growth and strengthen customer relationships.
How do CRMs work?
CRM software includes functionalities allowing businesses to keep track of all company interactions. These channels include social media, chat support, phone calls, emails, contact forms, and much more.
CRM software solutions offer the right insights to marketing and sales teams, offering several tools to manage the marketing and sales funnel. They are helpful in several aspects of marketing, such as demand forecasting, opportunity management, lead qualification, and deal closure. In addition, CRMs help customer service teams to automate service operations and manage customer requests smoothly.
CRM solutions help standardize the processes leading to customer excellence and track features that record customer interactions online. Additionally, they help firms automate routine processes and offer managers powerful tools that help track business productivity and growth.
CRM solutions help collate information from multiple sources, but they also offer analytics capabilities to businesses to provide regular forecasts that help firms generate leads and convert them easily. They also enable boost transparency, data sharing, and data monitoring.
How CRMs Help Maximize Profitability & Reduce Expenses
CRM software do the dual work of increasing revenue and cutting costs in the following ways:
1. Enhancing customer satisfaction
Since most of the interactions with your customers can be carried out with CRM in an organized and systematic manner, your business house will build better understanding and relations with the customers. This will, in turn enabling increased customer satisfaction and customer loyalty.
2. Building up a focused and better marketing strategy
The key features of CRM software helps you keep a centralized record of your existing customers, their requirements, and purchases. This database is accessible is a gold mine for the marketing team, which can identify their potential buyers and build up their marketing strategy accordingly. Also, this customer database system can offer, suggest and promote other products of the business house to their existing buyers based on their previous purchases.
3. Better planning and scheduling of tasks
CRM offers calendar and scheduling features that can pinpoint the desired target, plan for days ahead, and allocate tasks to team members. This will help in improving efficiency, optimizing time, and getting better results for profit maximization.
4. Mobile applications
With mobile CRM solutions, your team will have instant access to information and leads even when on their field trips. Mobile CRM applications offer various functionalities like creating, viewing, updating, and deleting records. In addition, one can send emails through the CRM and easily record communication made to leads and contacts.
5. Timely Alerts
CRM allows sending email alerts to the top management on specific actions like lead generation, lead qualification, etc. Such alerts can include a recent communication made, a new reminder created, and such. This makes marketing organized and makes sure that all reminders and instructions are sent correctly.
6. Automated Marketing
Automated Marketing is a vital feature of CRM through which you run marketing and email campaigns around time-sensitive promotions and opportunities. This feature helps you improve your marketing ROI by getting real-time information of what strategy is working and what is not, thus making improvements thereon.
7. Online Customer service
CRM solutions let you bond with your customers via their channel of choice across the web, social, chat, and mobile, with full multichannel service capabilities. Also, with an online customer support system, you can minimize service response time, improve case resolution, and increase customer self-service with a robust Knowledge Base. In addition, your customers can tap the functionality of Service Cloud to avail services anywhere, anytime, on any device.
8. Identifying leads and growing business
With CRM solutions, you can do away with time-consuming manual tracking of leads. Instead, these solutions extract all possible charges from various sources such as marketing communication, email campaigns, website visits, or outbound. This will help you identify the promising sources of leads and ensure your marketing efforts are made around the same.
9. Automated reports
CRM solutions generate a wide range of accurate and automated reports, including those related to specific sales territories, per MR, geographical regions, or demographics.
Top 5 CRM Software For Your Business
Now that we understand how beneficial CRMs are, let’s discover some of the best CRM software available today. Here are the top 5 customer relationship management solutions that businesses have loved using:
1. Freshworks CRM:
This solution offers a 360° overview of your customer base by collating and integrating customer experiences under a single roof. It helps teams boost their efficiency with automated task assignments, workflows, sales sequences, and internal contextual collaborations. Freshworks helps you create customer relationship strategies to boost conversion rates and enables you to segment customers in various categories. It uses artificial intelligence to generate leads and derive reports that help organizations optimize their sales pipeline.
Teleduce by Corefactors is an integrated marketing and sales platform that handles everything from lead generation to consumer retention. It helps firms create omnichannel campaigns that capture leads and nurtures them to conversions. In addition, Teleduce offers features like a calendar system, document storage, source tracking, task management, and social media integration to help firms grow continuously.
3. Kapture CRM:
This intelligent CRM solution helps ensure that you serve your customers better while also boosting revenues and automating operations. Kapture CRM takes care of your orders, payments, and collection while also offering modules for crisis management. It helps customers raise tickets for their concerns. Moreover, it lets you know when a customer’s issue is left unresolved. Kapture CRM unifies your field service, service center, and field service, which drastically improves your response time and boosts customer satisfaction rates organically.
This SaaS-based CRM software is created to help companies boost their sales numbers and identify sales opportunities. Moreover, it enables you to analyze and optimize your workflow for better results and provides actionable intelligence through its graphical dashboard. ezeeCRM lets you automate follow-up campaigns, outgoing calls, and user interactions that help you remain connected to buyers at all times. It also has iOS and Android mobile apps that allow you to manage your sales efforts on the move and cater to your customers better.
5. Outwork AI:
This award-winning CRM software has been praised by many for its usability and powerful sales automation features. Outwork AI improves sales teams’ performance by automating their chores and offers them actionable insights in real-time. It offers chatbots for CRM, voice, and video bots that keep track of each client conversation. Additionally, its pipeline management module and automated reporting feature help register each consumer activity and enable you to schedule your promotional efforts for maximum efficiency.