Reasons a CRM is Beneficial For a Business
Posted: September 14, 2015
When the acronym CRM is mentioned, not everyone may know what it means. A CRM is an easier, more hands-on way to interact with customers, and it's an extremely valuable tool for businesses to have. Here are four reasons why your business should consider switching to a CRM.
Leslie Ye, writer for Hubspot, shares why a CRM is a beneficial tool for businesses.
In the early days of starting a business, you’ll encounter a dizzying array of acronyms -- ROI, ARPU, CAC, LTV, MoM, NPV, just to name a few. One acronym is particularly important: CRM.
Simply put, CRM -- or customer relationship management -- refers to software that tracks interactions with prospects and customers.
All CRMs store prospects’ contact information -- their name, email, and phone number, as well as any other identifying information a company chooses to track. CRMs can also group multiple contacts at a company under one account, which is helpful for sellers.
Beyond contact info, CRMs log reps’ touchpoints with their prospects, including emails, phone calls, voicemails, and in-person meetings. Some CRMs offer the ability to track deal stages and reasons for closed-lost and closed-won deals.
As anyone who's ever struggled with contact management knows, a CRM system is an invaluable tool for businesses that want to grow and scale (read: virtually every business).
Read the entire article Don't Use a CRM? Here Are 4 Reasons Why it Might be the Solution You Need on Hubspot.