CRM stands for customer relationship management; it offers a way of tracking and managing interactions with prospects, leads and customers as they move through every stage of a company's sales cycle.
While ERP can let you focus on running your business, CRM tools help you focus on customers. CRM software helps businesses improve customer relationships by organizing and automating communications and activities across all customer-facing departments including sales, marketing and customer service.
CRM software provides a level of automation that enables businesses to run smoothly and efficiently. And because every customer interaction is stored in a single place, you and your team can nurture these relationships at every stage.
As a manager, you can also gain insight into how your sales and marketing campaigns are performing, helping you make better informed business decisions.
CRM software works by collecting an organization’s customer data, i.e. any interaction with existing or potential customers, and archiving them in a centralized environment, accessible across the organization.
This set-up allows users to track and reference past customer interactions in order to more effectively move prospects along their journey through automated outreach, sales campaigns and targeted marketing.
A CRM system enables employees to spend less time searching for customer data and more time developing and fostering connections. The centralized framework optimizes workflow, allowing business people to communicate both internally and with customers, maintaining a positive, personal experience at every point.
Besides helping business people create a better customer experience, the uniformity and depth of information provided by CRM software helps managers evaluate progress and devise effective strategies moving forward.