CRM stands for Customer relationship management. It is a easy guess that it is helping software that are designed especially for the business purposes. CRM Software plays an important role in the operation of business by managing the information of the customers by building relations to the customers between a client / business owner and a customers. It maintains the record of clients, upcoming clients, leads and sales.
It records all the information of the customers in the company’s database. CRM software are customly designed for business requirements. There can be multiple options available such as information of products and services given by the company to the customers etc. In the information of the customer all the purchases since the firs visit and address, phone number , call history, and the convenient time to call is saved. But it is not limited to such information – CRM software can be used to store whatever data necessary for business operations.
Types of CRM software
There are two major types of the CRM software.
Sales force automation software:
These software helps in automation of the sale process. It track the calls of the customers, their complete information in which the address of the customer, call time duration, reason for call and the phone number etc. Such software records every sale of the customers, configure all the services and products business/company provides.
Campaign management software:
In CMS, the data of the customer is processed. It gives the complete information about the costumer and which products he has bought. Cross sales campaigns is also a great feature of campaign management software. It updates the change in the price and enhances the development of the product. It shares the information in oracle files. Additional features can be added through it to maximize the sales ratio. It is the best way for the marketing of the services and products. it can track the emails and social media profiles. All the business transactions are stored with the features like accounting, statistics and graphs that shows how many people viewed the site and so on.
Advantages of CRM Software
- CRM plays a great role in he business by managing all the aspects of the business.
- It is best for the niches like eCommerce and marketing because it stores the information of the people who visit he site.
- It manages the business transactions, keep complete record of the sales, account balance etc.
- Information stored on CRM can be retrieved from different locations at the same time.
- Time management
- It is very Cost Effective, otherwise prepare to invested on hiring the professionals in accounting to mange all the accounts, data entry and the marketers to give information about the products.
Inspite of so many benefits there are some disadvantages listed.
- Risk of losing all the data of customers. Normally doesn’t happen
- It requires time & resources to train entire staff.