What is CRM life cycle in Salesforce?

Refer this link
https://www.deskera.com/blog/what-is-a-crm-cycle/

The development of the company takes a lot. Strength, perseverance, hard work. All this is very important, another important aspect is the good management of the company. This can be facilitated by good CRM software. In our company We have implemented Firmao and I can honestly recommend it. It has a lot of useful features to facilitate the conduct of business

Hello Mansi,The CRM cycle basically consists of four stages – Marketing, Sales, Product, and Support.•Marketing Stage – In this stage of CRM cycle, the basic focus is to identify customers by running various marketing campaigns (such as emails, blogs, advertisements, and more), create the database for Account (pertaining to Organization) and Contacts (pertaining to individuals), and finally generate leads by analyzing the gathered customer data.•Sales Stage –In the Sales stage, basic focus remains on leads. They are the individuals who have expressed some kind of interest in your product offering. ‘Leads’ are further categorized into Open, Contacted, Qualified and Un-qualified. Deskera CRM offers a functionality to convert ‘leads’ into ‘opportunity’ for carrying out further sales activities.•Product Stage – In this stage of CRM cycle, the basic focus is on delivery of product. Deskera CRM offers Product Management functionality that captures details about the product price, vendor, and description, among others.•Support Stage – During Support Stage, the primary focus remains on resolving customer issues and providing customer support. In CRM terminology, this function is known as Case Management. (To visit our previous blog on Case Management, please click here).Hope this helps you.Thanks.

CRM life cycle basically consists of 4 cycles
1. Marketing Stage
2. Sales Stage
3. Product Stage
4. Support Stage

In Salesforce, the CRM (Customer Relationship Management) lifecycle refers to the various stages and processes involved in managing and nurturing customer relationships using Salesforce's CRM platform. The CRM lifecycle typically includes the following stages:
1. Lead Generation: The CRM lifecycle begins with lead generation, where potential customers are identified and captured as leads. Leads can be acquired through various channels such as marketing campaigns, website inquiries, trade shows, or referrals.
2. Lead Qualification: Once leads are captured, the next stage involves qualifying and assessing the leads to determine their potential as viable prospects. This process typically involves evaluating lead information, conducting follow-up communication, and gathering additional data to determine their fit and interest in the product or service.
3. Opportunity Management: After qualifying a lead as a potential prospect, it can be converted into an opportunity. Opportunities represent potential sales deals or business engagements. They contain details about the potential customer, deal size, expected close date, and other relevant information.
4. Sales Process: The sales process involves managing and tracking the progress of opportunities through various stages, from initial engagement to closing the deal. This typically includes activities such as prospecting, presenting proposals, negotiating, and handling objections. Salesforce provides tools to track and manage the sales process, such as opportunity stages, sales pipelines, and forecasting.
5. Account Management: Once a sale is successfully closed, the customer account is created or updated in Salesforce. Account management involves maintaining a comprehensive record of customer interactions, managing customer information, and providing ongoing support and service. This stage focuses on building and nurturing long-term relationships with customers.
6. Customer Support and Service: Salesforce's CRM platform also supports customer support and service activities. It enables organizations to track customer inquiries, issues, and support requests, ensuring timely resolution and customer satisfaction. This may involve managing cases, tracking service-level agreements (SLAs), and providing self-service options for customers.
7. Upselling and Cross-selling: The CRM lifecycle includes identifying opportunities to upsell or cross-sell products or services to existing customers. Salesforce allows organizations to analyze customer data, identify potential upsell or cross-sell opportunities, and target relevant offers or promotions based on customer preferences and buying patterns.
8. Customer Retention and Loyalty: Customer retention and loyalty are crucial aspects of the CRM lifecycle. Salesforce helps organizations track customer satisfaction, gather feedback, and proactively address any issues or concerns. By leveraging customer data and insights, businesses can develop targeted retention strategies, personalized marketing campaigns, and loyalty programs to strengthen customer relationships.
Throughout the CRM lifecycle, Salesforce's CRM platform provides features and tools for managing customer data, tracking interactions, automating processes, and gaining insights to improve customer engagement and drive business growth. The lifecycle focuses on building and maintaining strong customer relationships by effectively managing leads, opportunities, accounts, and customer support interactions.
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