What is Customer Relationship Management (CRM)?
CRM stands for Customer Relationship Management. Broadly, CRM is any practice, technology, or strategy designed to help businesses improve their customer relationships. In today’s marketplace, CRM most often refers to a software system that enables a company to keep track of all communication & interactions with prospects and customers.
CRM Suite Features
CRM Platform Your Whole Business Will Love
HubSpot’s CRM platform has all the tools and integrations you need for marketing, sales, content management, and customer service. Each product in the platform is powerful alone, but the real magic happens when you use them together.
Why a CRM?
Benefits of a CRM Software
Maintain Centralized Customer Database
A CRM helps your sales reps avoid spending time digging through files and records to find the information they need about prospects to follow up and close deals
Reminders to Follow-up on Prospects
A CRM tracks all of your prospect activity, which helps your reps know when they need to follow up with specific prospects.
Manage all Communications with Prospects
All communication, both internal (rep to rep) and external (rep to prospect), can be managed through a CRM. This allows reps to track all parts of the buyer’s journey.
Automate Data Entry
With a CRM, your team will never have to spend time logging emails, calls, meetings, and interactions — all of this information will be automatically collected and aggregated within the system.
Organize Contact Data
A CRM allows your team to easily keep track of every contact (and their related data), no matter their buyer’s journey stage. In fact, reps will be able to see if a contact visited your company website.
Segment Your Customers
Have you or your reps ever wanted to create a list of contacts to reach out to based on specific criteria? A CRM allows you to sort contacts by data that you’ve collected about them over time.
Create Sales Reports
A CRM allows your team to collect and organize data about prospects and deals using reporting features such as sales dashboards and reports. These allow reps to better automate and manage their pipelines, deals, and contacts.
Forecast your Sales Performance
The key to any successful sales organization is the ability to plan strategically and make informed decisions. With the CRM reports, you can pull in key metrics like monthly recurring revenue (MRR) and year-over-year (YOY) growth.
Scale your Sales Processes
As mentioned, a CRM will provide your sales team with one place where they can keep track of leads, prospects, and customers over any duration of time. A CRM also allows you to review specific activities like emails, calls, and meetings booked.
Facilitate Team Communication
Ensure effective team communication is facilitated throughout your sales team and among reps with the help of the CRM. This communication is critical to maintain a specific brand image among all reps who are interacting with prospects.
Keep Same Software as your Company Grows
As your company grows, a CRM will grow with you — that’s the beauty of this type of software. Whether it’s tracking more leads, organizing more contact information, or recording a greater number of interactions with prospects.
Make Administrative Tasks Efficient
All of your administrative tasks — such as manual data entry, hunting for email chains, recording conversations, and saving contact information — will be simplified with the implementation of a CRM.