How CRM works and How CRM can help SMB Business to grow?

What is CRM? CRM stands for Customer Relationship Management – Basically, CRM helps your business to track your sales. This is a database or a list of your customers with their respective information. If you are having difficulty in understanding CRM you can visit this site. It has lost of information that can help you to fully understand what CRM is. 

How CRM works?

I’ve worked as an assistant IT staff in a lending company before, back then we are using a CRM software to track the sales of the company. I will describe to you the details that I had observed and learned.

First of all, my former company offline marketing strategies like banners and fliers have a business website – they have a dedicated team to do the marketing, paid ads and SEO to the website.

Because of high walk in inquiries and high number of visitors to the website, the company was overflowed with enormous number of prospects and leads.

List of walk-in inquiries and inquiries from the contact form of the company website will be on the desk of sales manager every morning. The sales manager task is to delegate and divide the leads to the sales team. 

He used CRM to assign the leads to person that is included in the sales team.

The sales team will have to log in to the CRM software to be able to view the leads that will assigned to them and contact each of the loan applicant. In the conversation, the sales team will create a new CRM database and fill up the forms as the loan applicants dictated the information. After the form is all filled up. The form will be automatically transferred to the verification team.

The verification manager will assign and divide the loan applicants accounts to his team. Each of the team will contact the 5 references that was provided by the loan applicant during the sales process. After which, the loan will be granted to the loan applicant.

Basically, CRM was helping my former company to track the last loan of the applicant, his/her requirements, his/her sales person, the person who verifies his/her account.

How CRM can help your business?

For example, A certain customer named “Alicia” call in your office and following up for her loan application. In a traditional way of storing customer information, you’ll open excel files and look for the name of your customer, unfortunately you’ll have to look in for 5 or more excel files to only to find out that the name is not existing. In the modern way of storing your customer information or status,  you can use CRM or Customer Relationship Management. CRM can help your business by easily locating the customer information or tracking where your customer stacks.