CRM Software Flashcards
CRM
Customer Relationship Management
General benefits of CRM
Manage sales process and improving conversion and retention rates. Helps users stay on top of relationship building, lead management and lead follow up
What does the most recent CRM Market Share Report from Gartner suggest?
Market share among the biggest CRM companies is declining and a number of emerging CRM publishers are stepping up
Right-sized CRM (SMB)
They have more intimate relationships with their customers with a higher volume of interactions. Desire feature rich crm software without the bloat that adds administration and overhead.
Right-sized CRM (Enterprise)
Needs more sophisticated security models collaboration apps and platform tools.
SMB
Small and Medium Sizes businesses
Software Agility (SMB)
SMB’s need more agility that help them move swiftly to accommodate movement and change without reliance on technical or IT resources
Software Agility (Enterprise)
Needs agility that accommodates chance to territory management, revised sales plans, complex forecasting and more sophisticated data management and system integration.
UX
User Experience
CX
Customer Experience
User Experience
User experience that have reduced learning curves.
Customer Experience
Customers are more connected and informed and provide tools that connect with customers in a relevant, personalized and contextual way.
Unified Platform
CRM platforms that offer broader companies support and flexibility to incorporate third party ecosystems
TCO
Total Cost of Ownership
Total Cost of Ownership
Buyers favor inclusive pricing without gimmicks and surprises. Some even offer basic open source crm tools that get users started with the system and offer paid packages later on
Implementation Goals
Its important to start any CRM tool selection with an implementation strategy. Lack of one is the number one reason for project failure.
List of Implementation Goals
Boost Customer Satisfaction(streamlining and improving customer relations)
Increased efficiency (users can increase the efficiency of marketing campaigns, sales reps, and nurturing efforts)
Improved Customer Retention (attract the right leads, contact them at the perfect time, collaborate on a winning sales strategy)
List of CRM features
- Integration
- Marketing Automation
- Contact Management
- Reporting
- Pipeline Management
Integration
Import and export information directly from other sources like email, websites, call logs and customer service tickets. Eliminated data duplication and reduce menial tasks.
Marketing Automation
Automates marketing tasks like scheduled batch emails and lead segmenting.
Lead Segmenting
create divisions and sub divisions of contacts into smaller groups with similar characteristics.
Contact Management
Syncs customers data from websites, email and other software to populate customization fields within the database
Reporting
Allows users to view snapshots of individual activities within their business.
Pipeline Management
Offers overall view of customers life cycle. Leads are organized based on where they are in the pipeline and can nurture accordingly. Reduced missed opportunities.
