A CRM or Customer Relationship Manager is a tool worth investing in for any organization with a sales and marketing function.
Creates a central repository for all your sales and prospect data.
Having a central location to store all data relating to clients, prospects, and marketing campaigns in one place is a great way to keep your sales team organized. It also allows you monitor sales activity. Many salespeople are resistant to this, but an organization needs to know what is going on, especially, if someone in sales decides to leave.
A true CRM allows you to track marketing expenditures.
A true CRM system. What does mean that mean? A true CRM is a traditional model CRM like Salesforce.com or MS Dynamics. Inbound systems like Hubspot are not true CRM’s because Hubspot does not allow a marketing team to create campaigns and track expenditures to those campaigns. You can’t calculate ROI.
For example, in Salesforce.com you can create campaigns for events and client acquisition and retention projects that allow you to assign dollar amounts. You can then assign contacts and leads to those campaigns. It makes it easier to figure out the cost per client/acquisition and ROI to justify marketing expenditures.
Anytime you can track data on your marketing and sales programs is a good thing. In a CRM you can pull up a client and see where he went to school, the name of all his children, his favorite sports team, and his fascination with the fiber arts. You can also see every touchpoint everyone in your company has had with this client. All this data allows a company to tailor outreach. Instead of inviting this client to a cocktail party, it may be more beneficial to invite him to a charity knit-a-thon your company is sponsoring.
Track the RFP process
A CRM system allows you to track all the stages in the RFP or proposal process. It also keeps a running score of wins and losses.
Syncing your analytics
Integrating marketing automation software into your CRM system adds another layer of data and analytics because you can see who is coming into your website, how long they are staying and what they are looking at. You can also run email campaigns through your CRM system. Pardot and Marketo are two popular marketing automation platforms.
Adding a CRM for your Sales and Marketing teams is a good decision for any business interested in managing customer relationships.