What is customer relationship management?
CRM database is a computer program designed to manage a large set of data which can be requested by the departments that run operations like sales, marketing, logistics and production. Information can easily be generated by numerous users of the system so that they will be updated on the current information and status related to a specific customer. For example, if a sales person is conducting some form of business with a customer, he only needs to check the information on the database to determine whether there are any concerns relating to deliveries, shipping, pricing, etc. CRM Toronto immediately provides the information required which makes the process more efficient and effective for everyone involved. Customers are the lifeline of any business and it is very important to establish a good relationship to ensure that they are retained.
Significant characteristics of a CRM system
The primary objective of CRM Toronto is to provide a communication link in real time among all the departments of an organization that are involved in sales, marketing, promotions and logistics. CRM functions as a system to help retain current customers and develop new relationships with future customers. The system includes all contact information and details about a particular customer and “To do” lists for all the users of the system. From the database, the user can view the complete profile of quotes, orders, sales opportunities, invoices and whatever related information that can be used in a sales and marketing campaign. Reports can be produced to track sales and to monitor sales performance. Reports are particularly relevant to determine the weaknesses and strengths of a business and how much of the expected sales go to the competitors. Reports can be generated from the database in graphical format or printed form.
Cost saving advantages through CRM
The main problem faced today by many businesses is the increasing costs of sales and marketing not to mention the investment that goes to advertising and promotions. How much is the marketing costs of direct mail compared to participation in trade shows? How much is the return on investment from magazine and newspaper advertisements? Cost can easily be monitored and analyzed through CRM Toronto so that the business can obtain the information on which of the marketing programs are most effective in creating leads and conversions. Since it is possible that many campaigns have been set up, real time monitoring is easily provided through the CRM system. The system will easily provide a full insight on the true value of advertising and marketing campaigns to enable the sales team to assess what campaign is most effective.