We live in a world of the global economy where it buys, sells, and communicates in countless ways. Our competitors are everywhere, and barriers to entry are low and increase the intensity of competitiveness. Commoditization (The process by which services or products become widely available, routine, and easy to obtain. It is also a process that is becoming increasingly common precisely because technological innovation, education expansion, and frequent demand for a particular product) is happening at a breathtaking pace. Happy customers inform the world about their satisfaction. Companies and business life are developing and falling through social networks like Twitter or LinkedIn.
Customer Relationship Management (CRM) is the process of tracking and analyzing all interactions that you have with customers or leads. CRM software is a tool that centralizes, simplifies, secures, and adapts our customer relationships. So what’s in it for you?
A predictive look at your business
In the context of your ERP or financial systems, you could consider CRM software as a “future view” in your revenue stream, as opposed to the “classic view” of revenue. CRM provides a next look at trends and events that will be the leading indicators of your revenue and profit.
The CEO and CFO will use a graphical overview and notice boards of CRM software to monitor these key indicators. They can look at changes in the search for new business – leads, creating opportunities, and being able to notice indicators of future problems first. This will enable a proactive approach to business management.
The sales manager will have access to the sales report creation tool. It will need to see the activities of individual sellers or teams to track down potentially problematic areas that may affect revenue, such as territory coverage, contact and call activity, lead conversion rate, and take-off conversion rate.
The marketing manager will have to monitor marketing activities and campaigns and adjust the marketing plan to the success or failure of these activities.
The Head of Customer Service will have to find out which of his people is most effective at closing cases, be alerted to cases that exceed the expected time to close these cases, and monitor for any escalation by customers.
The Product Manager must monitor Business Cases to understand any product errors, support trends, or feature requirements that may lead to product and service improvements.
Development and growth of your business
Search is not just a seller’s activity – it’s a collection of manual and automated multi-channel activities that lead to potential business or opportunity. You can use CRM to get leads from your website, email campaigns, get them from seminars, webinars, conferences, or presentations, and send these leads directly to merchants. You can instantly set the frequency of contacting potential customers to capture the customer and stay rooted in their minds.
You can use CRM software to manage a team of merchants, e.g., for cross-selling or up-selling activities. You can use CRM to identify new products or markets. With CRM, you can increase the efficiency of your “sales” by your salespeople so that you can increase your opportunity creation at the highest level.
Successful companies are increasingly focusing on “inbound” marketing, which is the use of websites and searches optimization combined with a precise curriculum to transform potential customers into existing ones. The big advantage is the connection of your website with the CRM system.
Repetition of best practice
Undoubtedly you will have some ideas on how you want to draw your customers into your offer of goods and services. You will probably want to ensure that you provide your customers with a consistent and high-quality experience with your products and contact with your employees.
CRM systems can be used to anchor your best sales practices or customer service to accompany your people through every interaction with customers. Templates can be created and used to guide your people through complex processes. Workflow automation can be used to automate activities to ensure compliance with best practices and reduce administrative management costs through the CRM system.
Doing more for less
Our customers often say that the main reason for purchasing CRM is that they believe it increases the extent of customer interest in their entire product or service portfolio. We had two customers from two completely different industries who reported and mainly identified their problem in the same way: 80% of their customers came from 20% of their well-controlled business. However, customers often do not know what they produce, offer, and do the other 80%, and logically, these companies think there is a huge opportunity for growth. Many organizations want to find effective ways of accessing the business across the entire range of their business, with marketing and CRM automation that would otherwise be too inefficient for your operational resources.
Your people’s ability to handle an increasing number of tasks, opportunities, cases, communication, and information is compromised if you don’t use the right tools. CRM software is the key to helping them master your complex world without losing competitiveness and customer.
Risk management or risk management
One customer mentioned the story of his salesman – an employee who left the company and after the arrival of a new colleague, found numerous cases of customers who were never contacted. We have seen many situations in which a sudden change of staff leads to a drop in business that was caused by unrealized goals and led to dissatisfied customers who simply went elsewhere.
When a company experiences changes in staff replacement or customer service delivery, it literally takes a few minutes and a few clicks to apply the global customization of the system to transfer tasks, events to a new employee smoothly. This allows us to transfer responsibility responsibly without leaving the rhythm.
We have another customer who turned to court when a former employee withdrew his customer list and took it with him when he left the business. CRM can help track these events and provide a basis for internal audit or IT security work, which in turn makes it easier to control sensitive information.
Customer intimacy is an act of tailoring your products, services, and even your customer processes to suit your customer’s life or business. For many companies, especially small and medium-sized enterprises, this is an effective way to compete in an increasingly crowded competitive environment, knowing that large corporations sometimes have a hard time adapting and tailoring on a large scale.
CRM captures detailed information about your customers and their behavior, enabling targeted marketing, product development, and streamlining sales activities. It allows you to create the illusion of personal contact with every customer interaction. Look at it this way: do you think your dentist remembers your birthday, or do you think they have the software that tells them? Do you think it’s a coincidence that Google ads show things that match your interests or do you think they have the software that does it for them? CRM can give customers the impression that you understand their needs and preferences – on a scalable scale. The CRM system allows us to remember these things and details for thousands of customers at any time.
So why does your business need CRM?
- You need CRM to make your business more efficient and increase your revenue per employee.
- You need CRM to create repeatable processes that are already validated.
- You need CRM because we (and competitors) are looking for a competitive advantage in a multi-channel customer environment.
- You need to capture the interest of customers who are becoming more sophisticated and ignore the old methods we used to sell and advertise on them. It would be best if you had CRM to look into your near future and predict your revenue.
- You need CRM to mitigate the risk and cost of employee turnover. It would help if you had CRM to engage in a continuous improvement cycle. It would help if you made your business survive.