CRM systems – what are they? What do they do? And what are the benefits?

When running a business no matter what the size or industry we often get asked about CRM (customer relationship management) systems. What do we use? And how do we use it? What are the benefits of using one? And, most vital to any profitable business, how much will it cost me?

Business professionals love to use acronyms, they use them for everything, SWOT’s, PEST’s, and KPI’s, but let’s be honest, unless you are a common user of a CRM system, have used one in the past, or just love to find out all about acronyms, most people don’t know what CRM stands for.

Let’s find out…

CRM stands for Customer Relationship Management. However, it is also referred to as a contact management system, a sales management system, and an agent productivity system. These different named references are used depending on the use. For example, at Openbrolly, and in our products we provide a CRM system with every purchase. However, we call it a contacts database. We call it this for a number of reasons but the main being:

“We believe a CRM system should be more inclusive to your business, it’s not just about your customers, it’s about whomever you class as a contact to the business” 

So, what does a CRM system do?

CRM systems allow you to create, store and manage vital business data and contact information (including; email addresses, phone numbers, and social media profiles) of your customers or contacts. Many systems provide the ability for manual entries and automation in order to save you time, storing them as individual records and capturing interactions with the business to provide you with a complete 360° data set for you to get a better understanding and improve your relationships.

Why is a CRM system so important?

CRM systems allow you to strengthen relationships with customers, service users, colleagues, partners, and suppliers in order to monitor enquiries, acquisitions, and retention – storing all the information in one place to provide you with a complete audit trail.

Okay, so what are the benefits?

1. Cross-team collaboration and heightened productivity
2. Manage enquiries and key stakeholders
3. Have all the vital information in one place
4. Streamline customer and contacts interactions to build and nurture relationships
5. Improve the customer journey and lifecycle
6. Structure better marketing efforts by sending bulk communications
7. Increase brand awareness whilst saving time and money
8. Grow profitability and generate inward investment
9. Enriched products and services
10. Faster deployment

As mentioned, with the purchase of an Openbrolly product you will receive a contacts database AKA CRM system which can help you with all of the above and more. If you’d like to find out more about our products please visit our website here.

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