What is CRM software? CRM software is a system that enables you to nurture relationships with customers and prospects to drive sales or sustain long-term profitability. It also aggregates streams of customer data to surface insights that help you make better business decisions. As more customers look for products and services that understand their needs and responsive to their situations, businesses find it necessary to personalize customer interactions to stay competitive. Indeed, a Forrester study revealed that 72% of customers believe “time is the most important thing that a company can do to provide them with good service.” Even with a huge customer base, companies can keep tab of customer engagements, thanks to CRM software.
Various features of CRM software can organize contacts, manage deals and tasks, automate workflows, track leads in sales cycle, run and measure campaigns, and generate reports in one platform. CRM software also aligns the workflows and data of various departments, mainly sales, marketing, and support, and promotes collaboration among teams. How does a CRM software work will depend on how many of these features it has.
Here are the key features of a CRM software
1. Contact management. Organizes customer data in a centralized location. Contact details, demographics, customer service interactions, and other customer data are easily saved and retrieved.
2. Reporting and dashboards. CRM solutions can also generate real-time data that makes reporting more timely and accurate.
3. Lead management. Manages leads from prospecting to conversion. It lets you track sales activities, deals, and tasks and move them across sales stages. It also connects to contact management to let you view customer interactions and profiles in one window.
4. Deals and Tasks. CRM lets you add, assign, and track actionable items and feed them into the sales pipeline. Deals and tasks can be automatically populated with customer data or updated with real-time information.
5. Campaign management. Manages campaigns from start to end, including setting up target customers, automating workflows, and measuring success based on clearly defined metrics.
6. Email tracking. Tracks opened or clicked emails and usually work with popular email clients and mailers like Gmail, Outlook, and Mail Chimp. Email tracking can be a part of campaign management or sold separately.
7. Social media management. Tracks social media activity of your audience, such as, likes and dislikes, comments, mentions, and shares. It can also be a part of campaign management or sold separately.
8. Mobile version. CRM solutions have Android and iOS apps, while others have mobile responsive sites.