What is a CRM?

CRM stands for customer relationship management system, is a type of software that help businesses to manage their sales process and convert more leads to customers. All modern customer relationship management systems are cloud based and highly connected with other applications through apis.

What is Lead Qualification?

Lead qualification is the process that a sales person examines if a potential client meets certain criteria , such as have the budget, authority, need and is the right time to proceed in purchase of the product or a service. Sometimes a qualified lead also called opportunity.

What is your Customer Acquition Cost?

CAC is a metric, which show how much cost us to acquire new clients. A very simple formula is to divide the total cost of our marketing campaign with number of new customers that were attracted, on pay per click providers like Adwords this term is called CPA, cost per acquition.

What is the Customer Life Time Value?

CLV a metric that helps a company to understand how much revenue will be generated by each client in a specific time span. There are many methods to do a customer lifetime value calculation, some of them are simplified and others more complex like using discount rates in future cash flows.

What is Churn Rate?

Churn Rate is pertentage of customers that a company loses in a fixed period of a time ,for example one year. Also is very important metric for subscribed based business models and useful as input in some methods of calculating customer life time value.

CRM software

There a lot of companies that offer crm systems such a salesforce , zohocrm , microsoft dynamics and many other companies.