What is CRM and why is it important for any business? | TF
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What is CRM and why is it important for any business?

TransFunnel Consulting
TransFunnel Consulting Dec 17, 2021

Embrace technology to connect with customers

Did you know that Salesforce, Microsoft, and Oracle have some of the highest shares of the Customer Relationship Management (CRM) market? CRM statistics in 2021 also showed that 65% of businesses adopt CRM technology within the first five years of launching.

CRM, as the name suggests, means creating and maintaining customer relationships. How does it help businesses? It builds a strong emotional connection with customers and helps businesses understand their actual needs to serve them better. 

According to Grand View research, CRM is the fastest growing software market today. The study revealed that CRM was a $14 billion industry in 2010 and is expected to reach $80 billion by 2025.

CRM can be defined as a technology that manages your interaction with customers. It is a tool that helps companies to stay connected with customers and improve profitability. We all know that customer satisfaction is the most important element in any business. CRM uses data mining techniques to maintain long-lasting relationships with customers. The aim of CRM is to build customer equity; that integrates everything to know about individual customers and get a 360-degree view of their needs. 

To make life easier for salespersons, technology has introduced CRM tools to do the needful. 

Lets dig into the 5 best CRM tools:

1. HubSpot CRM

In today’s competitive market, HubSpot is one of the most effective and efficient commonly used CRM tools. It has created a great impact on its client with its unique mechanism and capabilities, which can completely turn around the dynamic of your business and marketing team. HubSpot is a flexible CRM tool that provides the best integration CRM facility free of cost, which other CRM tools do not provide. HubSpot CRM is a simple and fast tool that can be used to generate revenue and boost ROI. HubSpot offers a unique customizable deals dashboard to track the entire pipeline. Real-time visualization, analytics, company insight, email notifications and pipeline management features in the HubSpot CRM help track on-time information. It also includes a live chat box for immediate customer support. 

2. Zoho CRM

Zoho CRM is a cloud-based operational business platform that goes beyond being just a lead management tool. It has been available in the market for the past 15 years and caters to numerous types of businesses regardless of their size. Zoho CRM is an award-winning CRM tool (The Business Choice Award in 2019 and PCMag’s Editor’s Choice Award in 2020). A verified Zoho CRM professional will empower your business, pipeline management and sales as Zoho covers several business aspects like sales, marketing, human resources, business process and so much more. Under process management, sales process builders, processing rules and review processes are featured in this tool.  It has an omnichannel characteristic. Whenever someone talks about your product, browses through your website or reads an email, you will be notified. The tool also provides real-time reports and analytical components by which you can measure the performance of every sales activity. 

3. Pipedrive CRM

Built using activity-based selling methodology Pipedrive is a web-based CRM and a pipeline management CRM that helps plan sales activities and monitor all the deals taking place in the system. This CRM can be accessed anywhere, anytime using any web browser, which makes it user-friendly. Pipedrive uses a custom tool to keep track of team level targets, monitor sales data and generate sales reports. Pipedrive integrates with Google Maps, MailChimp, Trello, and Zapier. Pipedrive has a mailing system that integrates with several email service providers like Outlook and Gmail.

4. Salesforce CRM

Salesforce is a CRM in which marketing, sales and Information Technology (IT) teams can be connected on one platform irrespective of their locations. “Salesforce Customer 360” as titled by Salesforce stores powerful applications that help you to stay connected with your customers in real-time while they are establishing contact with your brand.  

Know why Salesforce CRM is the most recognised and fastest growing in this domain.

5. Freshsales CRM

Freshsales helps businesses manage their interaction with potential and existing customers. It is a cloud-based CRM and has various features like bulk emails, event track system, sales management and lead tracking. Freshsales also keeps a track of every email activity. One of the best features in this tool is that the system prioritizes email activity from leads and contacts that are awaiting response. Freshsales makes the sales process easy with unique functionalities like streamlined lead management, client interaction and marketing insights. It also can integrate phone and emails so that calls and emails can be sent directly. This makes it a perfect automation marketing tool and one of the best CRMs in the market.

To conclude, a Salesforce study undertaken in 2019 revealed that businesses that leverage CRM software witnessed an increase in sales by 29%, increase in sales productivity by 34%, and a rise in sales forecast accuracy by 42%.

At Transfunnel, we give you an apt understanding of the CRM that will work best for your business. To get in touch with us, connect here