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» 10 Key CRM Functionalities to Consider

March 27th, 2013

I recently did a joint presentation with another CRM consultant, and part of the presentation was sharing the Top 10 CRM Functional Areas.  So I wanted to share those with you too.

  1. Lead Management- tracking leads generated for the business, including who the sales rep is, what products/services it’s for, timing, status, etc.
  2. Pipeline or Opportunity Management – Once a lead is qualified, and you know what work you will be performing/products you’re selling to the prospect, you can track this information as an Opportunity.  All of your opportunities in various stages can be used to create a pipeline of future closed/potential business for you.
  3. Account Management – Tracking all companies/organizations you work with.  These can be prospects, clients/customers, referral sources, or general business connections.
  4. Contact Management – All people you do business with.  Again, these can be prospects, clients/customers, referral sources, or general business connections.
  5. Sales Activity Tracking – These are the tasks you need to do/complete in order to move a sale forward.
  6. Quotation and Proposal Management – Some CRM systems allow for you to produce quotes/proposals listing out the line items of each product/service, and capturing information about other specifics of the possible deal.  These can then be sent to the prospect right from the CRM system.
  7. Marketing Campaign Management – This area of CRM allows you to track your success rate for all marketing-related activities of the company.  How many leads/opportunities did you get out of that advertising campaign?  Which marketing efforts proved more successful (# leads or $) in a given period of time?  This can all be tracked in a CRM system!
  8. Customer Service – If you need to track cases, tickets, issues, etc. for your company, the Customer Service area of CRM can be your best friend.  It allows you to tie a Customer Service (or Case) record to a given Account and ensure that it gets handled in a timely fashion (through reminders/alerts).
  9. Customer Collaboration Tools – Many CRM systems have ways to allow customers and employees to interact with one another through various mediums.  This can be through a customer portal that allows a customer to create a Case in the system; live chat through the company’s website; and other collaboration vehicles.  These are becoming more and more common, especially in service-based organizations.
  10. Sales Territory Management – If you have multiple sales reps across multiple territories across a region, country, or globally, then you will really appreciate the sales territory management aspect of CRM systems.  It allows leads to be created and automatically assigned to the appropriate sales rep.  It also allows leads/accounts to be reassigned from one rep to another without updating each individual record.

There are many more features and functionality that come with most CRM applications today, but these are ones we find more common and necessary for majority of companies.

We’d like to hear from you – what functionality do you find most beneficial in your organization, whether you are currently using a CRM system or are thinking about using one?  Leave a comment to contribute to the discussion.

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Posted in CRM General, CRM Systems |

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