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What is a CRM? 

Customer Relationship Management (CRM) is a platform for handling all the business interactions with already established and potential customers.. CRM systems distribute customer data through various networks and at all points of communication between the customer and the company, including the company's website, telephone service, online chat, direct mail, marketing materials and social media.

The goal is simple: Improve business relationships by understanding your customers and its needs altogether. A CRM system helps businesses remain connected to consumers, streamlines operations and increases productivity.

A CRM solution helps you enhance your organisation’s relationships with every individual — including customers, partners, colleagues, or suppliers — throughout the organisation’s lifecycle with them. It also includes acquiring new customers, winning their business, and providing support and additional services throughout the pre-sales and post sales process.  

How does CRM help your business? 

  • MAKE IMPROVEMENTS TO YOUR BOTTOM LINE: Including a CRM platform in businesses has been proven to produce real results – which includes direct improvements to the bottom line.
    CRM applications have a proven track record of increasing:
  1. Lead generation b 30%
  2. Sales by up to 30%
  3. Sales productivity by 35%
  4. Customer satisfaction by up to 35%
  5. Faster decision making by up tp 38%
  6. Revenue increase by up to 25%
  •  IDENTIFY AND CATEGORISE LEADS: A CRM system can help you easily and rapidly find and add new leads and categorize them precisely. Hence by focusing on the right leads, sales can prioritize opportunities to close deals, and marketing can find leads that need to be nurtured further to make them a high quality lead. With full, reliable, centrally-controlled customer information and opportunities will concentrate salespeople and marketers on the right customers.

  • REFERRALS INCREASE FROM EXISTING CUSTOMERS: By knowing your clients better, cross-selling and upselling opportunities becomes easier — It actually gives you an opportunity to obtain new business from current customers. You will also keep the clients happy with better quality and greater visibility. Happy consumers are likely to become consumers over and over and over again — according to some reports up to 33% more. 

  • Provide BETTER CUSTOMER SUPPORT: It is important today to provide quick, personalised support to your customers at any time of the day.
    A CRM system can play a major role in providing excellent service that customers nowadays are looking for. Your agents can quickly check the history of the customer in the CRM, and can access the record of every interaction the customer has had earlier and can give the right answers to the customers quicker.

Who requires a CRM?

A CRM system gives everyone in the organisation right from the sales and marketing, customer service, product team or any other line of business — a better way to manage the external interactions and analyse the data to drive the product/service towards success.

A CRM device lets you store client and prospect contact data, distinguish sales areas, record customer discussions, and sort out advertising efforts, all at one area. This makes every client data accessible to anybody in your association to drive business development.

How does a CRM help in customer retention?

CRM is also useful for customer service, with solutions ranging from self-help sites to complete call centers that allow customers to support themselves (allowing agents to concentrate on the difficult cases). It can also be used by your customer service and support representatives to produce service tickets and keep track of all interaction your customers have with your service and support department.

And, when the entire system is integrated, account managers and any other department in this regard should be aware of the issues that customers face so that everyone can be a service provider in such peak hours.

In turn, insight into problems relating to customer care can be exchanged, so that agents can help consumers even more quickly. This kind of integrated service not only reduces query resolutions times, but makes agents happier since they have the ability to do more for customers, increase customer engagement and referrals, and bring an overall boost to customer satisfaction.

CRM for B2B 

The management of B2B partnerships is considered more complicated than B2C. Maybe it's because the buying cycles take longer, or the company is more contact-based and has a smaller audience. Or maybe the explanation for this lies in more people participating in purchasing decisions. The sales here are logical, not emotionally motivated.

So, there's no win without a strong strategy to get leads. And a great tool. B2B CRM strategy (customer relationship management) is the aim of an organization to use CRM tools to increase sales and enhance customer satisfaction. It is both a competitive management technique and an efficient data-collecting tool – just what smooth cooperation requires.

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