A Customer Relationship Management (CRM) system helps manage data. It supports sales management, delivers actionable insights, integrates with social media and facilitates team communication. Cloud-based systems, specifically, offer complete mobility and access to an ecosystem of bespoke apps.
These system helps businesses keep contact details up to date, track every customer interaction, and manage accounts. It is designed to help businesses improve those relationships and also Customer Lifetime Value (CLV). This is vital because of the vast amount of such data businesses generate daily.
The issue of customer data raises a challenge which these systems exist to address. Every time someone picks up the phone and talks to a customer, goes out to meet a new sales prospect, or follows up a promising lead, they learn something new and potentially valuable. Traditionally, all this information went into analogue or unconnected media such as notebooks or laptops, or even just stayed in people’s heads.
These methods make it all too easy for details to get lost or forgotten, or for a meeting or phone conversation not to be followed up on as promised. Choosing which leads or prospects to focus on can be a matter of guesswork rather than a rigorous exercise based on fact. Worse still, if an individual holding access to key customer information were to leave, then all their knowledge could walk out of the door with them.
A customer relationship management system aims to address challenges like these. It takes data and turns it into useful, actionable insight that can transform a business. It helps everyone in a business to easily update records and to get access to the latest information. If the system is cloud-based
, they can do this wherever they are, on any connected device.