What is CRM software? Definition
CRM (Customer Relationship Management) refers to an IT tool that allows a company's marketing and sales forces to centralize customer and prospect information with the ultimate goal of maximizing business revenue. To achieve this goal, CRM takes advantage of a unified customer information system and features covering the following activities:
- Acquisition: identification of potential buyers (named lead) imported into the CRM
- Prospecting: transformation of leads into business opportunities, study of the needs of prospects and customers, soliciting prospects, analysis of information collected.
- Automation of sales: automation of your sales forces with the tools of piloting, assistance in the prospecting procedures.
- Marketing automation: email marketing, emailing, newsletter, reminders, orientation, stimulation, lead scoring
- Administration: management of quotations, contracts, invoices, purchase orders, management of sales representatives and commissions on sales
- Retention: customer support, customer service management, online information on technical support, setting up a call center
By improving the customer's knowledge, the company is able to address the needs or bread points of the customer in a relevant way with a commercial solution. The relevance of marketing and sales actions makes it possible to direct efforts where it is really necessary and thus to maximize conversion rates (conversion from prospect to customer) as well as retention rates (customer renewal).
6 reasons to use Customer Relationship Management (CRM) software?
CRM or CRM (Customer Relationship Management) software for the most French speaking, is an indispensable tool for all commercial enterprises for the following reasons:
- Well used, it can be more efficient than its competitors and therefore gain market share
- The general increase in customer requirements in terms of commercial approach makes it mandatory to use a tool to know its audience and address it in a relevant way
- The centralization of customer knowledge allows to engage in powerful marketing actions (email marketing, SMS for example)
- The centralization of information opens the door to collaborative uses (information sharing between employees) and better personal organization (note taking, synchronization with the agenda)
- The new regulations in terms of personal data management (RGPD) make it mandatory centralized processing of customer data with the ability to transmit these data immediately to the person concerned or destroy them at his request
- Online CRMs are the most connected tools on the market, opening endless possibilities: customer segmentation, marketing campaigns, automatic billing, business intelligence and business data analysis, corporate management, and more.
What are the main features of a CRM?
The basic features of CRM
The CRM (Customer Relation Management) features are as follows:
- Management of leads and opportunities for salespeople (telemarketing)
- Contact account management (centralization of prospects and customers data)
- Event Tracking (also called event history: outgoing email, incoming call, information, adding document, signing a contract, etc.)
- Appointment and calendar management
- Management of multichannel marketing campaigns (email marketing, SMS marketing, newsletter, voice messages)
- Dashboards, Analytics and Reporting
- CRMs are the most heterogeneous customer relationship software which explains the hyper choice in this market. They range from advanced contact manager (xRM) to commercial ERP (such as Everwin or divalto).
We find more and more CRM features and services natively in CRM tools:
- Support and customer service
- Commercial management and sales management (quote, order form, invoicing)
- Delivery and collection of documents
- Embedded and synchronized messaging with the main messaging system
- Tracking conversions according to the origins and the levers of the leads
- Connection with Customer Data Platforms (CDP) to centralize unstructured data with qualified CRM data
CRM applications will be supported in the next 5 years by BigData, Business Intelligence and the exploitation of public data on the Internet:
- Automatic proposal of products to segments of populations via marketing actions combining marketing automation and emailing.
- Correlation detection
- Listening to social networks (Social CRM as easiware)
- Automatic enrichment of contact cards
- Anticipation of seasonality
CRM: trends and future developments
The CRM market is made up of 50% CRM SaaS offers (CRM in the cloud, unlike CRM on-premise). This growth is estimated at 13.3% in 2014. Finally, the 10 largest software vendors CRM account for 60% of the market. The remaining 40% consists of around a hundred solutions like E-deal, Zoho, Efficy, Infocob. Giants on the market include Salesforce, SAP, Oracle, Microsoft Dynamics CRM, IBM, NetSuite and Sage CRM. Open Source CRMs are rarer: Vtiger or SugarCRM. French side, Simple CRM is needed with a very affordable price. Note that most solutions offer free trials or demos to test the functionality of CRM Marketing software.
With our guides on CRM or CRM, learn how to automate sales and marketing actions to serve business development and customer relationship quality (improving the customer experience, customer journey, customer experience, loyalty and customer satisfaction).
How to choose a CRM software?
The choice of CRM is complex because it depends on the current context of the company, but also on its evolution. Moreover, it impacts a lot of people in the company: Management, Marketing, Sales, Communication, Support, etc. It is therefore essential to draw up specifications in advance with all stakeholders in the CRM project.
Then we must study the necessary functional scope: prospecting, marketing campaigns management, customer support? There are hundreds of CRM software on the market that do either everything or part of the customer relationship.
Finally the price is important, because CRM is now available in return for a monthly subscription per user. This is around 30 € / month / user which, multiplied by the number of employees concerned, can represent a very significant cost.
The most popular CRMs
A few popular CRMs: Sellsy, Eudonet, Ines CRM, Salezeo, CRM Contact, Microsoft Dynamics CRM, MyFeelBack, Koban, Nelis, Salesforce CRM: Cloud Sales, Teamleader, EGGcrm, TigerPro CRM, Magic Business, Incwo, Pipedrive, Smartplace, Vtiger CRM , Zoho CRM, Sage CRM, Synolia, Everwin CXM, Oryano CRM, Simple CRM, E-Deal CRM
Complementary solutions of CRM
Reservation & Booking
Sales Force Automation
Point of Sale (POS)