What is a CRM software system?

What is a CRM software system?

CRM stands for “Customer Relationship Management” and is a software system that assists business owners easily with tracking all communications and nurturing relationships with their leads and customers. A CRM restores the multitude of spreadsheets, databases, and apps that many businesses patch together to track client information. The result: organization, efficiency, better time supervision, and impressed clients.

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Client management platforms like CRMs connect all the data from your sales guides and customers, all in one niche. A CRM consolidates all communications forms to fills, calls, emails, text messages, meetings, documents, quotes, purchases, and tasks associated with each lead and customer. Your whole team can access those details at the right time–to close a sale or deliver outstanding assistance.

What Does a CRM System Do?

Contact management is the core task of any customer information system comprising CRM software. The objective of a CRM is to store and manage all data for every kind of contact, from leads to company partners.

What a CRM Doesn’t Do

CRMs aren’t developed to assist with backend operations like production, warehousing, shipping, engineering, or finance.

And of course, CRM tools can’t govern what they can’t see. So if people work with leads or deals outside the network, that lowers its effectiveness for the whole team.

Some CRM software is employed for data management only. However, an all-in-one CRM system like Keep also offers significant features like sales and marketing automation, landing pages, quotes, and invoicing to assist entrepreneurs to manage their whole businesses more efficiently.

Examples of How a CRM Platform Works

A good CRM doesn’t stop at obtaining information; it helps you harness all of that data to:

  • Get personal at scale, sending the right messages at the favorable times to leads and clients
  • Stress sales teams on the hottest prospects
  • Shorten the sales process
  • Monitor, analyze, and improve outcomes 

Here’s an example of a personalized email that an adviser might send to a lead, utilizing data captured in their CRM.

A CRM absorbs as much data as possible on leads before guiding them—or enabling you to guide them—through a planned journey toward purchase.

For example

Suppose a real estate agent is glancing to grow his contact list by giving a free educational course on home-buying basics. He runs a Facebook ad campaign, linking to a course registration page with issues regarding the desired location, property type, price range, and timing.

Each lead’s reactions will generate different automated follow-up communications from the realtor.

A lead gazing to buy a home within two months in the realtor’s service area would be tagged as a “hot lead” and enter a fast-track communication cycle.

A lead in the realtor’s area whose investment timeframe is six months out would be tagged as “long-term nurture” and receive a series of emails offering home-buying resources, designed to keep the realtor top-of-mind until the lead is ready to purchase. The CRM could also establish a follow-up task to contact the lead via phone four months later.

Leads whose target investment location is outside of the realtor’s area will be tagged as such and will only receive communications related to the lesson.

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