Anatomy Of A Hosted Web Based CRM Software

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Times are tough. Running a business in these times could mean doom for a lot of companies.According to statistics, 7 out of ten companies rarely make it to the first five years.Not when you have a competitive tool at your fingertips. CRM Software could be the answer.

Still, a business is a business and the owner has to keep it running. By whatever means, YOU – as the business owner or manager make that choice. It’s your choice whether you want to do it the simple way or the hard way. Managing a business could be simplified and yet effective, a sad truth most people in business have yet to realize. Just like a human being, a company also consists of various departments or systems. And in order for it to achieve optimum level, the different systems, with its distinct functions, should be at all times in harmony with the rest of the systems. A single department rules the rest of the systems – the Brain. The Brain, being responsible for storing all necessary data/information for processing, is working tirelessly – processing data and keeping itself updated by the minute in order to complement each other’s needs. In-coordination between the systems, failure and ultimately death, would be inevitable without the brain. In any company setting, one of the vital components of running a business is data management.

An overall poor performance level results from in-coordinated, poorly managed storing of data. In a way, a CRM software functions just like the brain – processing, storage and automate responses to attain optimum results and efficiency of the system as a whole. Intuitive technology, I’m sure you would agree.

So what is a CRM? CRM is acronym for Customer Relationship Management. To put it simply, it is a tool in the form of a software that is being used to manage customer data both for accounting and management purposes. So you now probably think that with thousands and millions like a crm software, MYOB and a whole lot more abound in the market, but what makes this CRM software stand out from the rest? Take a look.

For starters, this CRM tool is accessible anytime, anywhere provided you’re connected to the Internet, which is why it’s called hosted, web-based. These 3 components makes this hosted web-based CRM software an excellent tool in business management. They are:

1. Cooperative or Operational Management – All customer’s interaction with you are being recorded. For example, an existing customer calls in. FCR or First Call Resolution is often achieved by the person assisting the client since all pertinent information is available on the customer’s database. Availability and handy access to customer information plays a big role in answering customers’ needs on first call. Waiting on line or call-transfer to other departments would be a thing of the past. This in turn, equates to a happy and satisfied customer.

2. Sales Management -This means that every customer is accurately profiled according to his inquiries, purchases, demographical data, what kind of products the individual has purchased in the past and even the customer’s personality. Up-selling, Cross-selling and advocating newer services to existing and prospective customers is made possible by a CRM tool. Such tool proves to be extremely helpful for the sales department in the aspects of marketing. What this equates to? Revenue.

3. Campaign Management-Means that a company is able to target individuals basing on their location therefore making the marketing and promotions campaign a lot easier. A higher percentage of successful sales results from a well-planned marketing strategy.

The old adage, “People don’t plan to fail, they fail to plan” certainly holds true when it comes to small business success. The failure rate for new businesses seems to be around 70% to 80% in the first year and only about half of those who survive the first year will remain in business the next five years. This is why a hosted web based CRM software is essential for a company’s survival. Now who wants to be part of that 70% to 80% who failed?