CRM (Customer Relationship Management)
Software that centralizes information about your prospects and customers to manage the sales relationship.
CRM stands for Customer Relationship Management. It's a tool (or strategy) that centralizes all interactions with prospects and clients: contact details, conversation history, pipeline stage, potential deal amounts, etc.
For a freelancer or small team, a simple CRM boils down to three things:
- A single place to store leads.
- A clear view of where each deal stands.
- A reminder system so you don't forget to follow up.
CRMs range from the simplest (a Kanban board with a few columns) to the most complex (Salesforce, HubSpot with hundreds of modules). The key is choosing the right level of complexity for your needs.
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Sales Pipeline
A visual representation of the stages your prospects go through before becoming customers.
Follow-up
The act of reconnecting with a prospect after an initial interaction to move the sale forward.
Lead (prospect)
A person or company that has shown interest in your product or service and could become a customer.
Closing
The final step in the sales process where a prospect becomes a customer by signing or paying.