Customer Resource Management (CRM)
September 15, 2019
To help monitor the relationship with their prospective and existing customers, many companies utilize CRM software. These tools serve as a database for all of our client’s contacts (Similar to a mailing list). These contacts are most often existing or prospective customers.
In addition to storing personal details for each contact, the software also records every touchpoint a customer has. This data can then be used for reporting, forecasting, research, and targeting future sales & marketing efforts.
It is used most often as a sales tool, however at many organizations it has become an integral part of their marketing and business operations efforts.
What can a CRM track?
These tools commonly allows you to record the following types of information for a customer:
- The last time they were contacted & details of the conversation
- When the next scheduled follow up should be
- When they last visited our website
- What other contacts we have within their company
- Status of any open opportunities for new business, and details of the sales process
- Historical and projected value of that relationship based on business
- What marketing efforts has this customer received (Email, mailer, etc)
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Note: While we often work with CRM tools for our marketing efforts, the process to select and implement a platform is a large undertaking. Most often organizations work with specialized CRM consultants for this type of work.