Streamline your crm lead to opportunity process for Legal Services

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what is crm the obvious answer to this question is customer relationship management but this short answer is not enough to understand what the crm is all about we cannot ignore the importance of customer relationship management in any organization it helps any organization to increase the revenue it's not only important to track the leads but also converting those leads into business the goal of any crm is customer acquisition customer relationship and customer retention if you are unable to maintain a good relationship with the customer it becomes a business challenge with crm you can have all the customers information up to date which means that you can have a central repository of all the customers their contact information which will help your team from marketing or sales to have access to a centralized up-to-date information of all the customers everyone is contributing to a central system where you have up-to-date information of the customer automated communication is one of the aspects of customer relationship management crm also helps you to track all the communication any of your sales or marketing team had with the customer so what is the dry memory and what memory some of the contact information might be in your excel sheets you might be having address book in your email system be it an outlook or any other email system a phone book in your phone where you are maintaining the customer's information so you will have the customer information in your spreadsheets or documents or emails visiting cards phone book whatsapp what is wet memory you know some of the customers location you might be having a meeting call where you had a commitment with your customer verbally that you will be visiting him or you might have told the customer that you'll be sending the product information soon but if you don't note it you will forget with the passage of time we can rely on our own memory for a limited period of time we will not be able to remember what commitment we had with our customer until we recorded something so what are the challenges here in dry memory and wetman you are definitely communicating with the customers but your team members or your colleagues will not be aware of the communication that you had with the customer and imagine if one of your team members is on leave or one of the team members leaves you crm will help you to organize all the data which is in the form of dry memory and wet memory lead management is one of the important aspect of crm system then the resources are shared contact information or the communication that we had with the customer this is shared across your team it could be a sales team or marketing team who are directly interacting with the customer accounts finance even iit team can have access to those information because of that you will have an efficient communication with the customer not only your marketing team can send automated email to your customer but crm system can also send the occasional messages to the customer wishing them the birthdays and wishing them the special events and in traditional way you must be following up with your team about the progress of their leads but through crm system you can follow up the progress of the leads or opportunities so how crm system helps you to organize the data instead of having scattered information you can have the customer's information maintained in a central repository central location means single source of truth for all your customers if you want to get the up-to-date contact information of your customers and communication this becomes a central repository for all your customers all the leads of your business are collected in cr which will help you to create new contacts within the crm system and once these contacts are converted into opportunity then from these contacts you get the organization details and the customer's information gets up to date once the lead is generated a relevant team member may automatically get access to that particular lead crm is capable of sending the automated email responses to the customer these could be your canned responses or pre-formatted emails which will have very good impression to the customer and will create a better business impact greetings and reminders can be automatically sent to the customer which will engage them with your business crm helps you to know your team better when the specific lead is assigned to the sales team or a team member follow-up becomes very easy in crm system team will also have better coordination when the crm is in place from the marketing campaign to the lead generation crm will help you core business processes are taken care by all the erp systems one opportunities are definitely there sometimes you need to understand the reason of the lost opportunities that can be possible through crm system so all your marketing activities can be automated using crm system data integrity is one of the major benefits of crm system you will have 360 degree view of the customer all the customers information and customer communication can be seen in crm your sales team will be having access to one single system so they don't need to maintain separate systems excel sheets or any other documents they can rely on one single repository of the customers where they will be able to communicate with the customer from the same system and have the customer information in the same system crm system is said to be a sales force automation system system can trigger various actions based on workflows various crm systems are capable to be integrated with erp systems any software system that you use they follow the same basic concepts the process in crm system starts with lead anyone who has interest in your business is elite outcome of a marketing activity it could be a digital marketing activity through search engine optimization you have optimized your business to let the people know what the products and services you're offering if anyone is searching for that specific product or service they might reach to your landing page the moment you get that interest of anyone in your business that becomes a lead it could be a digital marketing campaign through social media for example if you have a specific product to promote and that product is being promoted to your social media platform and through landing page you get the customer's contact lead could be an outcome of any marketing activity it could be a traditional marketing or digital marketing even sales funnel software can help you to generate the lead you might be having an existing website where you have listed all your products and services and through search engine optimization the website might be appearing in any of the search engines once the people will be searching products and services they might reach your business an outcome of the marketing campaign will be elite any event outside your business where you might be introducing your products and services to the people you might have some personal references or your colleagues might be having some personal references and those personal references might show interest in your business so there could be n number of leads that might be generated by the business so you will capture all these leads into your crm funnel and once the two-way communication will start this becomes a contact and the moment you will be exchanging the price details and product details these leads are converted into opportunities opportunity will definitely have the value assigned to it at this stage you might have submitted commercial proposals or quotations not all the opportunities will be won here lost opportunities will be filtered out and these will be marked as lost and those opportunities where customers has confirmed the order you will create a sales order and the contact that was created becomes a customer and improved communication will help you to retain the customer and these customers will become the loyal customer and loyal customer will not only give value to your business but will also help you through their mouth referrals to attract more customers so this cycle will continue again now you have understood what the crm is all about what are the benefits let us now talk about what are the crm software available there are n number of commercial software which are available i will be mainly talking about open source software here those which i have tried and tested and which are best in class right now v tiger is one of the best open source suite crm if you want to have a comprehensive erp system you can have erp next and erp next crm system is also very powerful odoo is also offering open source crm system and finally sugar cra you can see installation videos demo and complete tutorial of all these crms i have provided the link in the description below so see you in next video take care and goodbye you