What is a Customer Relationship Management System?

No matter the industry, maintaining a strong relationship with your customers is likely a critical aspect of your overall game plan. When it comes to real estate, this becomes even more important, specifically when it comes to repeat business, reputation and image, and future referrals.

In the last few years, customer relationship management (CRM) has become a powerful buzz phrase encompassing a number of different things - all of which work together to create a strategy or practice which helps to achieve this relationship maintenance, and a customer relationship management system has become the ideal way to do this.

Still a bit green behind the ears when it comes to the role of a CRM system? We are bringing you back to basics this week - answering the question “what is a customer relationship management system?”

As mentioned, customer relationship management refers to the strategies and processes used to build and strengthen these networks and connections by managing, recording and evaluating customer interactions. When done effectively, this can help to boost sales, encourage repeat business and increase customer bases.

Ok, but what is a CRM system? It is simple. A CRM system works by consolidating customer information, updating and recording customer interactions, automating workflow tasks like calendars and alerts, and giving you the ability to more efficiently and effectively keep track of what is happening with each customer.

Benefits of a CRM:

• Marketing: because all contact info is recorded, sending out newest housing trend reports or market numbers is made easy, thus giving you the chance to reach out to current and past prospects easily. Also, automated workflows allow for birthday emails or other personalized alerts to remind customers that they are important to you, and to keep in touch.

•  Sales interaction management: since customer interactions are recorded, a CRM will help to prevent and avoid duplicate emails, letters, etc. Reaching out too often will often cause customers to become annoyed or overwhelmed, rather than appreciated - it is a delicate balance - one that can be met with the right CRM system.

•  Networking and connecting: not only does a CRM give you the ability to connect with customers, it should also give you the ability to connect with others in your industry. As a real estate professional, this is great for things like promoting listings and finding out more information in real time.

Customer relationship management, no matter the industry, is crucial. As a real estate sales professional it is even more so. With easy-to-use CRM features, coupled with real estate specific additions, keeping everything in line is simple.

For more information about adding a CRM system to your workflow strategy, call ViMO today at 1 855 999 8466 (VIMO).