Digital Marketing Analytics, General, Tool Reviews
Customer Relationship Management: Is Your Business CRM Ready?
Mar 14 2023
CRM stands for Customer Relationship Management. It’s a platform or system used by a company to manage all of its interactions and its relationship with a customer. Small to large businesses all use CRMs to optimize their processes, so is your business ready CRM?
A CRM is as a single source of information for a customer. For example, in Boot Camp Digital CRM, we can see all the information about a customer or prospect in one place. Email history, sales calls, products purchased, customer service, and all information we have on the person are tracked in a single system. Furthermore, this type of system allows us to effectively manage and improve the relationships we have with a customer or prospect.
Additionally, CRM information can also be used for targeted advertising. By connecting CRM data to an advertising platform like Facebook or Google, businesses can send targeted ads to people in their CRM system.
Historically, B2B businesses used CRMs as a way to track and store information on customers and prospects in a single place. Presently, they are used by many businesses to track customer and prospect records and as a single data source.
While this may seem like something only relevant for big companies or sales teams, CRMs can also be valuable to small and medium businesses.
One of the largest factors in determining a CRM is cost. CRM systems can cost as little as $100 a month to tens of thousands (or more) per month. This all depends on how you use them and how many contacts you have. Notably, Salesforce is the most popular enterprise CRM, and there are many popular small and medium business systems. See our list below.
CRMs have two major benefits: Efficiency (saving time with everything in one place) and Effectiveness (dealing with customers more effectively by having all their information in one place).
CRMs typically perform a variety of tasks:
Today, CRM systems interact with other systems and tools that provide even more functionality. For example, billing, surveys, accounting, and even marketing services connect to CRMs.
This is an excerpt of Krista Neher’s best-selling book, “Digital Marketing That Actually Works”. You can find this and more books at Boot Camp Digital
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