Well, this is a very simple question but the answer to this question can be very descriptive with lot of open ends because business development activity varies from industry to industry and country to country..
A Complete Business Development CRM System should be one which covers and track all activities of Marketing & Brand Building team, Sales team, Efforts of sales team members, Expenses of Sales personnel and derive Employee Profitability Index and above all, it must have a very deep drill down visualization of the data layer in the form of high-end Analytical Dashboards, for quick and correct decisions that is Business Intelligence.
If we go one step ahead, the system must also tell me what actions should be taken if the current business scenario changes to a set of pre-assumed & historical scenarios & parameters. This will help the management team with alerts and corrective mechanisms and that’s a small part of Artificial Intelligence.
A fantastic CRM Solution should not only take care of new suspects & prospects and help sales team towards a proper smooth process for business deal and closure, but it should also take care of the processes to nurture and care existing customers and accounts.
One of the imperative reasons to use a centralized CRM system is to keep a repository of all Documents, Tasks, Actions and Communications of each prospect & client against every sales person, across the geography. So that if any sales person moves on, there should be no issue of training and hand holding of a new person in place. Historical communication with parties generally go away with the sales person, but if they are properly recorded in the CRM then the sales personnel shift with not hamper a lot to the business.
CRM must be on cloud to access it from any location and must be responsive to access it 100% from any device connected to internet. This makes the whole team highly efficient and mobile just because the dependency of a particular machine and location is no more.
Now if you have a thought towards the price and affordability factor, then many of us will have a different thought, but if you are actually a rational business person then Pay As You Go Model is most suitable to all organizations because it saves lot of your CapEx and OpEx cost. Just you have to drill down slightly to understand the solution provider’s hosting infrastructure. If they are with some of the reputed names like AWS, Google Cloud, Azure, etc. coming in top 20 globally, then rest assured that your data is more secure than even in your office premises. This gives you 100% free of mind.
Here you just need to focus on your core business and expand further to make it huge.
artificial intelligence definition
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