customer relationship management, salesforce

Should every college student learn a CRM?

Who should learn a CRM?

Not every student. But any student that could end up working in business with a sales function (just about all of them).  Anyone in a customer facing business role, or a support function of the client works in a CRM. Enterprise companies and savvy SMB’s manage sales funnels in a CRM. Enterprise’s often staff full-time CRM developers.

A few popular CRM’s are: Salesforce, Microsoft Dynamics, SugarCRM, and many others

What is CRM?

Customer relationship management (CRM) is not just the application of technology, but is a strategy to learn more about customers’ needs and behaviors in order to develop stronger relationships with them.

Why does CRM matter?

Centralize customer data, remote access, field sales, remote workers, distributed workforce,

A CRM provides a 360 degree view of all customer data, sales funnel activity, sales to date, and inactive

How does CRM work?

Essentially, CRM works by collecting leads or consumer information, analyzing the collected information to understand customer or market requirements, and adjusting marketing campaigns accordingly to increase sales.

CRM also serves customer service and support divisions– by making business interactions more efficient and improving customer satisfaction as a consequence.

From Good to GREAT: CRM mastery for business growth

Mastering the reporting capabilities of a CRM gives 360 degree insight into the sales funnel, account base, and opportunity transparency of your sales team. This flattens the organization eliminating fluffy management roles. Applying more resources to selling activities, business growth, and employee development.

*As a manager or business owner, the last thing you want is to lose income by targeting the wrong customer segment, an indication for slender margins down the road. Client administration programs can provide you valuable intelligence about long-term sales trends, helping you adjust the existing corporate sales strategy and results tactics. For example, a five-year analysis of your janitorial services company’s sales data shows that income from car manufacturers is in decline, while revenue derived from the higher education sector is on the rise. Based on these results, you may decide to target universities and colleges more aggressively and gradually pull back from the auto sector.

  • Sales and Marketing Strategy
  • Client management – get more visibility into your client base, deploy tactics needed for long-term profitability, and formulate plans that propel your team into target markets.
  • Profitability Tracking: Funnel management and speedy bookkeeping system and more accurate financial reporting
  • Regulatory Compliance: An effective client policy enables small business owners to automate some business processes that were previously manual. This is a winning approach in the long-term, especially when it helps you comply with federal and state laws and industry standards. For example, you may not need to hire a team of compliance analysts to perform regulatory checks if you apply the correct settings to a CRM tool. You can instruct the tool to flag a high-risk client or generate the relevant documentation based on the client’s risk score.

 

Supporting Articles:

Importance of Customer Relationship Management (CRM)

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