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What is a CRM? 

The process of managing interactions with potential as well as existing customers and at the same time managing and analyzing a company’s interactions with past, current, and potential customers is called customer relationship management (CRM). CRM makes it possible to analyze a large amount of data centrally. 

The core benefit of putting a CRM system in place is improving business relationships with customers, using data analysis. This is purely done with an eye on customer retention and driving sales growth. 

We just came across the most basic and the most fundamental benefit of the customer relationship management (CRM) system but it does not end here. 

Let’s look at the top 5 benefits of the customer relationship management (CRM) system.

Easy access to complete information in one place
With the help of a good CRM system, important information can be viewed, edited, and accessed very easily as all of it is compiled in one place. 

The central database, that is created, allows for quick cross-team access as well as the ability to conveniently manage all information.

Efficiency at work and quick delivery.
As a result of the creation of a central database, the company representatives do not have to spend their time looking at numerous files and records to find the information which they need. 

When the representatives are handed crucial information easily, it reduces their effort and they can focus on more important tasks which can lead to more quality work done in the same span of time.

Automated data collection.
Gone-by is the time when you had to hire someone to, especially, log emails, phone calls, meetings, interactions, etc. All of that work being done manually with mundane human effort has been taken care of: thanks to CRM. 

Automation, as the word suggests, is the process of making a function or a task automatic and automation has been a key factor in CRM being so helpful and full of benefits.

Enhanced insights from reporting and analysis.
When looking at reports, there are plenty of metrics that are being tracked by the CRM system on a constant basis. But CRM allows you to choose the metrics you want to analyze such that you can gain valuable insights into performance and results against key performance indicators (KPIs). 

Tracking and analyzing metrics helps businesses identify which strategies and tactics are producing desired results and which are not. This allows users to focus their attention on the tactics that are working and remove those that flop.

Higher sales conversion rates.
There is no business that does not want a high sales conversion rate. CRM is just the kind of tool that makes it possible to get a higher conversion rate than you would’ve gotten otherwise. 

CRM aligns sales and marketing. This helps the sales representatives to work upon more qualified leads and turn them into customers of the company. 

When using CRM, businesses experience increases in conversion rates as high as 300%. (5) That number alone makes a strong case for adopting CRM. 

That’s the role the CRM plays in the success of any business. Conclusively it helps you get all the information you need on one screen and be more productive.
Spend less time digging through spreadsheets and more time with the clients.
Close deals fast — whether you’re working at the office or on the road.

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