Image showing an icon for custom relationship management software

CRM, what is it and do you need one?

In the business world, CRM stands for Customer Relationship Management and it is often used to refer to the software that make this possible. There are many companies that offer a CRM tool. Although they all originally started as desktop applications, nowadays most of them live in the cloud and are sold through the software as a service (SaaS) model, meaning that you can pay a monthly or annual fee for licenses that would allow an n number of users from your company to access and use the CRM tool.

What does a CRM do?

The primary function of a CRM is to provide a company with a data base where they can store, create, edit and look up information about their leads, opportunities, contacts, accounts and any other sales related information.

Nowadays, most CRMs also come with a lot of automation that makes the life of the users easier, while at the same time offer opportunities to nurture leads, increasing the chances of them converting into opportunities.

Some of the top benefits of having a CRM (if it is properly set up), is that you can keep all the emails, notes and documents that are relevant to a lead, opportunity, account, contact, event, and others, all in one place, making it easy to stay organized. Tasks and reminders allow you to ensure that you stay on top of things and prevent anything falling through the cracks.

Do you need to be using a CRM?

Now that you know the basics about what a CRM does, you are probably wondering,  should you be using one? It really depends. If you have your own system of staying organized and your volume of leads, opportunities and customers is very low (less than 10/month), you really don’t need one. Having said that, even the tiniest of businesses could benefit from the use of a properly configured CRM, which can not only help you stay organized and close more opportunities, but also foster the relationship with existing customers. The real question is, can you afford the fees and the time it would take to research, pick and configure a CRM?

There are dozens of CRM software tools out there and they all vary greatly in capability and cost. If you would like to learn more about CRMs and get help in picking and configuring the CRM that is right for your business, please contact us to set up a free consultation.

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