Large quantities of data are created by every company each and every day. So many potentially valuable things are learnt every time you have a telephonic conversation with your customer, when you go out and meet a new sales prospect, or when you follow up on a potentially promising lead.
It is okay that so much large amount of data is created and so many things are learnt, but where are they stored, where does this data go? Perhaps into some writing pads or some folder cabinet or maybe even just in the head. In which case, the details are liable to be lost or forgotten as a result of which the telephonic conversations and the corresponding meetings are not likely to be followed up and the choice of making the right direction to focus on will probably become a matter of wild guesswork rather than a severe and exact exercise based on facts.
And the worst part of it is if the concerned staff member is out of service then all the information accumulated by that person also walks away with him!
By a favourable fortune, there is a solution to this problem and the solution is CRM systems. So what are CRM systems? CRM is a shortened form of Customer Relationship Management. This Customer Relationship Management (CRM), what it does is that by taking your customer data and turning it into usable, action-oriented awareness, it literally transforms your business
A CRM system can be mentioned as a system which accommodates you in managing your business relationships with the customers through which the growth in business becomes possible.
It is not only the customers that the CRM reaches but reaches much beyond customers permitting you to spotlight on your organization’s relationships with all kinds of people like your suppliers, your colleagues and all the users of your products and services and all your customers, present, potential and prospective.
The mode in which CRM system does this at the most basic level is by providing a central place where you can store the customers and prospects contact information and by making it possible for you to share it with your colleagues.
When all data and information is stored in a central place then tracking the history of all the interactions had with your customers, all the phone calls you made, emails sent, details of meetings conducted, presentations given forth, enquiries that were received, all these become a cake walk it is the tracking that is the most important thing and which is made possible by the CRM systems.
When you have a CRM system in your office, every conversation you had with your customer, every request that you faced with your customer, every little detail about every contact and every customer of yours, every recall of factual information is at your command and disposal.
As a result, the understanding with your customer gets better and better giving you wonderful opportunities to cross sell and up sell your products and services and go up the ladder of success.