What is CRM and why do you need a CRM system?
Don't be surprised if you come across terms like CRM system, CRM tools or CRM software. CRM stands for Customer Relationship Management and is about creating strong customer relationships and satisfied customers. This page guides you through the CRM jungle and teaches you everything you need to know about CRM, why you should work with it and how to choose a good CRM system that suits your company.
What does CRM stand for?
CRM is short for Customer Relationship Management and is about actively working with customer relationships – often with the help of a CRM system.
A CRM system is an IT support and tool that gives you full control over your customer relationships, helps you with customer prospecting, sales and marketing strategies, and creates flexible solutions for customer support and analyses.
The purpose of CRM and a CRM system is to get satisfied customers who stay and speak well of your company. In short: CRM is a simple and profitable philosophy - which is combined with very smart technology.
In recent years, the CRM system has expanded to address even more needs like marketing, website creation, and other areas related to how you as a company interacts with customers, and vise versa.
Collect customer info
To work systematically with customer relationships requires order and tidiness. That's why it is among the first and most important goal of a CRM for many companies. A CRM system gathers all the customer information you need in one place and ensures that it becomes easy to find the right information.
Automate work
With the right CRM system, you can automate and streamline several customer-oriented processes. Instead of wasting time preparing mailing lists or scheduling reminders in the calendar, employees can focus their energy on building personal relationships with customers.
Insights and reports
View lists, statistics, forecasts, and reports in the CRM system in a flash. Get an overview of your sales statistics, lead management, or customer satisfaction using graphical dashboards. Quick insights and an overview of important metrics and KPIs enable swift action when needed.
The Main features of a CRM
Why you should use a CRM
Improved customer service and marketing
Customers who feel poorly treated are happy to talk about it to others - and the same goes for customers who are pleasantly surprised. Customer Relationship Management is about improving customer management and creating more positive experiences. CRM usually leads to really good, inexpensive, and effective marketing through fantastic reviews from your satisfied customers.
You stand out as a supplier
What happens when customers perceive products or services as equivalent regardless of the supplier? They choose the company that is "the best." When prices and products are equivalent, decisions are based on emotions. A CRM system ensures that your company is easy to deal with and delivers on its promises.
Your company owns the customer information
Do you know which customers your salesperson has been in contact with or what has been agreed upon? Can you be sure that customers won't follow the salesperson to their new job? With a CRM system, it is your company that owns the customer information instead of individual employees, and everyone has an overview of what has been said and done - when, where, and by whom.
More profitable customer journey and increased sales
It is both easier and cheaper to retain existing customers than to constantly acquire new ones. And no matter how fantastic products or services your company offers, in the end, you won't sell an ounce if your customer relationships aren't good. Customers are more than just a sales opportunity, and if you make sure to take every opportunity to nurture customers with the support of a CRM system, there is also a greater chance that you will have a more long-term, loyal, and profitable customer.
Analyze needs and act faster
It's no secret that companies benefit from knowing their customers. Yet, it's a common pitfall where too many companies lack valuable insights that drive the business forward. With a CRM system, you gather all important customer information in one place. With the help of information in the CRM tool, you can then work data-driven, through, for example, customer segmentation, to identify new customer needs and manage existing and potential customers correctly.
Frequently asked quiestions (FAQ)
What is Customer Relationship Management (CRM)?
Customer Relationship Management, also known as CRM, involves actively and systematically working to improve customer relationships and create long-term connections. This can involve setting up internal structures for how a company communicates with its customers, and to simplify this work, it is common to rely on some form of IT tool such as a CRM system.
What is a CRM system?
A CRM system, also called CRM tool or CRM software, is an IT support that gives you full control of your customer relationships - by collecting all customer communication in one place. A CRM system is also often linked with other important IT systems such as enterprise resource planning (ERP) to provide a holistic view of each customer.
What is a CRM system used for?
The applications of a CRM system are almost endless, but most commonly, it supports activities related to sales, marketing, and customer service. In sales, for example, a CRM system can streamline prospecting for new customers, track sales discussions, and provide an overview of the sales pipeline. In marketing, a CRM system is often used to manage inbound leads from the website, customer segmentation, and to execute and analyze campaigns and newsletters. Customer service and support functions often use the CRM system to manage incoming inquiries and questions from customers.
How do I choose the right CRM system?
Choosing a CRM system is not always straightforward. Therefore, it's good for you and your colleagues to evaluate different options and ask yourselves; Why are we making this investment? What is our goal with the CRM system? Who will work in the tool? What features are important for our users? What is our budget? By knowing where you are and where you want to go, you reduce the risk of getting off track and increase the likelihood of finding the right provider faster.
Can the CRM system be customized to my needs?
Of course! To get the most out of a CRM system, it's important that it is tailored to your specific company and processes. A CRM system should always be designed according to the needs of the users. Moreover, you avoid paying for unnecessary components that you neither need nor will use. For example, Upsales is a bespoke CRM, and MoxiSoft is a hybrid CRM, meaning that our CRM can be customized, but we also offer 'standard' layouts and features.
Can a CRM system be integrated with other software?
All IT systems should do what they are best at and then integrate with each other to share information that the different software can benefit from. By integrating your CRM system with other IT tools, you gain access to all information in one place, instead of searching for it in different systems. Make sure to choose a CRM system that can integrate with tools that are important for you. Here are some examples of common CRM integrations: ERP and business systems, Business Intelligence (BI), E-signing, Gmail, Outlook, and Email marketing tools.
Is a CRM system suitable for small and medium-sized enterprises (SMEs) as well?
Investing in a CRM system may seem like a significant investment and has a reputation for being only profitable for large companies. Having a tool that nurtures customer relationships and creates new business opportunities is extremely important for companies in growth phases and is just as profitable an investment for smaller companies. As previously mentioned, CRM systems have started to adapt to more use cases other than sales such as marketing. When investing in a CRM for a smaller business, it is good to opt for an "all-in-one" solution that covers all essential needs of a new company, and which does not soley focus on sales.
What does a CRM system cost?
Today, there are thousands of CRM providers on the market, and price is obviously an important factor when investing in a new CRM tool. Some are completely free, while others require an investment. But don't forget to consider other important factors, such as the return you can expect from different options and whether the CRM system can grow with your business.
Your nordic CRM-supplier
MoxiSoft grundades 2022 i Haninge kommun strax utanför Stockholm. Vårt mål har varit att erbjuda användarvänliga CRM-verktyg som gör vardagen lättare. För att hjälpa alla svenska företag att bli kundmagneter som lockar både befintliga och nya kunder, strävar vi efter att tillhandahålla de bästa och mest användarvänliga verktygen.
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