What is a CRM system? What features does it have?

CRM is a customer relationship management system. It is customer-oriented and uses information technology as a means to realize informatization, automation and integrated management and control of marketing, customers, sales, products and services, helping enterprises to manage customers in a unified way, meet individual needs, support customers. relationships and prevent customer churn, simplify the sales process, increase sales efficiency, etc. A CRM system is not only a kind of management thought, but also a kind of management technology.

Functions of CRM system

CRM-system includes many functions. It includes many interactions between companies, merchants, marketing teams, and customers. The CRM system supports these interactions primarily by acting as a data management system. While capabilities of software vendors can vary greatly, most CRM programs have a core set of features ranging from tracking leads to monitoring customer service delivery. This product includes following features:

1. Client management

Manage entire life cycle of client files. This feature allows users to view and maintain customer information anytime, anywhere. When information changes, it will be notified in time; customers can be transferred with a single click to facilitate transfer of sales. Protect sales data with a full authorization mechanism, one-click appointments, and avoid customer loss caused by employee layoffs.

2. Visit Management

This function will regularly remind customers to visit and make work plans for users, as well as send schedule reminders in a timely manner, which can help salespeople organize work efficiently.

3. Business Opportunity Management

Visualize sales opportunities as a funnel to help management predict performance. It can visually display business opportunity dynamics and predict sales results to help team manage them intelligently.

4. Contract Management

This function will perform full contract management and maintain status of contracts in real time. Real-time synchronization of part changes to realize long-term dynamic contract management.

5. Data Management

The dashboard of this function can generate a summary report and you can see transaction trend at a glance. Users can check future situation of business opportunities at any time, and can also create charts and view sales transaction trends.

6. Open sea swimming pool

Due to customer's high seas pool automatic recovery mechanism, if seller fails to contact buyer in time, it will be automatically returned to high seas pool and other sales will follow. Improve uneven distribution of new and old sales resources, thereby improving efficiency of customer tracking and conversion rate of business opportunities.

CRM system cost:

1. Reduce labor costs

There is no need for sales team to spend too much time collating data; for management team management is more direct and efficient.

2. Reduce customer development costs

Portraits of target customers are determined by market. Sales and development customers have effective channels and accurate customer profiles, which greatly reduces customer development costs.

3. Reduced Order Fulfillment

Fulfillment of contract orders is streamlined and each link is automatically promoted without manual completion, reducing errors, shortening order cycle and lowering cost of order.

4. Reducing Bad Debts

The contract book is clear at a glance, receivables situation is automatically reminded, customer's credit is more objective and reasonable, and reduction of bad debts also increases income.

Different companies treat CRM functions differently. Consider unique sales force and sales process of your business when choosing CRM software. The above includes almost all important functions that enterprises use to achieve effective results. According to needs of enterprise, CRM software can be considered as a tool for customer management or sales promotion, or as an assistant for several management tasks. However, right CRM can go a long way in building good customer relationships, increasing sales, and even protecting you from competitors.