What is CRM?
CRM stands for customer relationship management. It is a summary of strategies and technologies that help your business establish and maintain relationships with both potential customers and returning clients. It aids in contact management with an emphasis on catering to customer preferences and boosting sales productivity.
To achieve amazing customer relationships, companies use CRM software. This software collects customer data, customer interactions, records, trends, etc., and adds them to customer profiles.
This way your sales reps, contact center agents, and marketing teams, can access all the relevant information before making a contact. This not only boosts sales productivity but also helps streamline the sales process and helps your business exceed customer expectations.
Who can use CRM?
All customer-centric businesses interested in furthering customer relationships and driving sales should consider using CRM. Various departments and teams can benefit from utilizing it daily. CRM is most useful when collecting and categorizing leads, carrying out analyses, making sales calls, providing customer support, and more.
Call center software CRM integration plays an important role in every business as it provides information and data about your customers for better customer service.
Benefits of CRM
CRM is a wonderful tool that helps many businesses across the globe. These are the ways it can add value to your business.
- Improved customer relationships – When your customer service representatives have all the customer data at their fingertips, they can provide a higher level of personalized care which helps build customer loyalty, boosts retention and enhances the overall customer experience.
- Increased sales – CRM helps streamline the sales cycle, build an effective sales pipeline, and automate important tasks using artificial intelligence and other software tools.
- Better customer service – Providing excellent customer service is a much easier task when your agents have all the information they need readily available. Whether it is an order number, preferred communication channels, or personal details, your agents can store it and pull it up at any point in customer journeys.
- Convenient centralized database of customer information – There are many inherent benefits to having a centralized database anybody can access whenever needed. Besides accessible knowledge, CRM allows for better inter-departmental collaboration as all teams have access to the same, unified information.
- Better customer segmentation – With CRM, you can break down otherwise overwhelming amounts of information into categories based on predefined criteria. Customer segmentation helps you develop effective marketing campaigns, personalize sales pitches, and boost your overall business performance.
- More detailed analytics – When you have an abundance of data about your customers, you can create detailed, highly-accurate reports. Knowledge is power, so the more you can analyze and learn from this data, the better for your business.
How to choose CRM software
When choosing CRM software, we recommend carrying out thorough research.
There are some features a reliable CRM software should have, including multichannel communication, ticketing software, customer service automation options, a large number of third-party integrations, reporting, and customization.
A good example of a robust and reliable CRM software for both small businesses as well as large enterprises is LiveAgent help desk software.
Looking for better CRM solutions?
Manage your relationships straight from your help desk software. LiveAgent can integrate with the most popular CRM software and help you improve your workflow.
Watch introduction video to CRM
Explore the fundamentals of customer relationship management (CRM) in this informative video. Gain insights into the strategies and techniques used by organizations to effectively manage customer interactions and relationships. This video serves as a comprehensive resource for aspiring CRM professionals. Dive into the technicalities and best practices of CRM, and embark on a journey towards mastering this vital discipline
Topics
- CRM platforms
- Efficient data management
- Streamlining processes
Video summary
The video discusses how businesses can efficiently manage customer data using CRM (Customer Relationship Management) platforms. These platforms can streamline processes, increase productivity, and improve customer experiences, ultimately leading to increased revenue and customer retention. The video also explains what CRM is and how it works. The discussed topics include the benefits of CRM platforms, the types of businesses that can use them, cloud computing, back-end operations, and the various functions that CRM software can offer, such as data management, sales automation, analytics, and creating a single database for client information.
Frequently asked questions
What does the acronym CRM stand for?
The acronym CRM stands for customer relationship management. CRM software allows companies to collect, store, analyze, and work with customer data from one centralized database in the form of customer profiles. It is a part of business processes that aid in making customer-focused decisions.
What are the types of CRM?
There are several types of CRM. The first is operational CRM, which is used in bettering customer service. The second type is a collaborative CRM that supports interactions with suppliers and distributors. Another type is analytical CRM, which lets you analyze data and make informed decisions. The fourth type is a strategic CRM, which uses customer data and current trends to drive sales and enhance customer experience. The last type is CRM used for campaign management which allows you to develop and execute marketing and sales campaigns effectively.
Is LiveAgent a CRM?
LiveAgent has a built-in CRM software that allows you to store, analyze, and use customer data to not only improve your bottom line but also develop a loyal customer base.
Expert note
CRM stands for customer relationship management, and it can help businesses improve customer relationships, increase sales, and streamline processes through a centralized database of customer information.
First call resolution (FCR) is a critical metric in the contact center industry that measures a company's ability to resolve customer issues and inquiries during the first interaction with no escalations or follow-ups required by customer service agents. A high FCR rate results in increased customer satisfaction, efficiency, and cost savings for businesses. Challenges to improving FCR rates include defining and measuring it correctly and inefficient internal processes. Best practices for improving FCR include providing agents with accurate information, empowering them to make decisions, and providing efficient coaching and cross-training. A good FCR rate is around 70-75%, but may vary across industries depending on the complexity of the product or service.
Sales automation can increase productivity and lead nurturing efficiency, but too much can harm conversions and brand reputation. LiveAgent offers optimized sales automation features with email templates, rules, and CRM integrations to maintain personalization. LiveAgent also provides various customer service software solutions, including VoIP phone systems and help desk software for startups. Users can sign up for a free trial and receive a login message with installation details once their account is ready.
Criteo is a global technology company that offers personalized display and video advertising technology to retailers, brands, and publishers. Their technology platform uses machine-learning algorithms to drive consumer engagement and increase sales. They also provide various types of customer support, such as email and phone support, social media support, and a knowledge base. To contact Criteo, you can use their online contact form, email them at contact@criteo.com or call their customer service line at +33 1 40 40 22 90. They do not have live chat support. Criteo also offers an affiliate program and partners with VoIP companies.
LiveAgent is a call center software that offers various features and tools to improve customer service and agent productivity. The company provides customer service software, voIP phone systems, self-service software, and help desk software for startups. LiveAgent also has a support portal, data migration, system status, and request for proposal services. The company offers a free trial and has won awards and certificates. They also have partnerships and an affiliate program. LiveAgent has a blog, glossary, and webinars. Quality Unit, LLC owns LiveAgent and has terms and conditions, security policy, privacy policy, and GDPR compliance. The website deploys cookies according to their privacy and cookies policy.
