"Customer Relationship Management"
How CRM
Can Make Your Life Easier

What’s that you say? CR what?

Perhaps you have heard this new buzzword floating around.

But what is CRM?

It stands for "Customer Relationship Management". This is what we used to call managing your database of clients.

Because most professionals do not have a convenient and versatile way of keeping track of their contacts and clients. Or they complain that it takes too much time to maintain.

I guess they would rather spend all their time hunting for new clients rather than create a Customer Relationship Management (CRM) system that brings the clients to them.

If that’s what you want to do then more power to you. But save some money for when you burnout and need to start looking for another career.

The Power of Customer Relationship Management (CRM)

Instead, you could invest a little time now in setting up a Customer Relationship Management system for keeping track of every contact you make and save a lot of wasted time later constantly trying to scrounge up new customers and trying to find lost information.

The best list in the world for marketing is the list of people who already know and like you.  First, because the response will be better and second because it is a free list. You already know their name and address and often their situation. You don’t have to spend precious time and money advertising to find them.

This is especially true for people you could not help the first time. You should keep in contact with these people preferably monthly, but at least quarterly.

When time and circumstance change (such as new programs becoming available or their personal situation changing) you have a great opportunity to re-solicit them and provide the necessary help.

Your Customer Relationship Management system could be as basic as an index card file or as sophisticated as a state of the art CRM computer program built especially for your company.

In most cases, I would suggest something in the middle.

Basic programs for CRM are inexpensive and many are quite easy to learn.

Here is a list of some of the information you will want your Customer Relationship Management system to keep on every contact you make.

Name
Address
Phone Number
Fax Number
Work Number
Cell Number
Email Address
Source of contact
Status: Prospect, Current Client, Past Client, Contact
Price Range
Mortgage Loan Qualification
Current Home Value
Current Equity
Customer’s Goal (Move up, move down, investment, etc.)
Reason Previous Transaction Failed (If applicable)
Birthday
Marital Status
Contact Log

If they are a past client you will want to at least keep track of the following:

Date of closing
Loan Amount
Appraised Value
Equity

There are several choices in CRM Software.  Most CRM software programs have been created for sales people in general. Most will have the ability to keep the above information and give you the ability to setup the field titles for your own specific needs.

Some CRM software can even be linked to a Palm computer for downloading or uploading so that you can carry your database with you on the road (or the golf course if you want).

Most also give you the ability to sort your customer database by specific fields and print labels, envelopes or even letters that can be typed once and personalized for any number of customers through a merge command.

For instance, if you want to quickly notify all clients and/or past contacts that are first time buyers that rates have dropped making it easier to get into a home, you can do so in a matter of minutes. Or better yet, your assistant (if you have one) can do it.

The real benefit here is that by focusing on people that already know and like you, your time and money are used much more efficiently. You will get more referrals and will be able to spend less time working with uninterested, unqualified prospects.

Also, since most people tend to associate with people that share their interests and life style your past customers will tend to refer people that are much like themselves. By focusing your efforts on your ideal past customers you can greatly improve the quality of the prospects that are referred to you.  That's how Customer Relationship Management (CRM) can make your life easier.

Recommended Provider:  Infusion CRM (Free Demo Available)

Other terms you may hear: CRM, Customer Relationship Management, Sales Force Automation, Business Intelligence, eCRM, CRM Software

CRM: Customer Relationship Management
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