WHat is CRM?
World-wide spending by businesses is expected to reach 114.4 Billion USD by 2027, labelling CRM as the fastest growing application software. A Customer Relationship Management (CRM) is a technology to improve business relationships to grow your business by nurturing all your company’s interactions with customers and leads by finding new customers, winning their business, and keeping them happy by organizing their information in a such a way that helps grow your business faster. A CRM system helps your company update customers with latest news they would be interested to know to automatically boost revenues. The CRM will interact with your organization's people, on an individual level; whether they are customers, service users, colleagues or suppliers to provide them services based on where they are at in the customer life cycle (Click Here to Download your Free Customer Life Cycle Workbook). This is because a CRM tool lets you store customer and prospect contact information, record service issues, automate marketing campaigns and identify sales opportunities, all on the same application. Your team will be able to utilize this information and interact accordingly. It becomes even easier for your teams to collaborate and increase productivity because they can access all the relevant data about what your clients have purchased and when, what they paid, what they would be interested in, when is their next appointment and much more.
When you run your business without a CRM, this can cost you a lot of wasted money. It is because the more you spend time on administration the less time money and effort you will have for everything else.
Consider an active sales team, who are out on the road or on phones, meeting prospects jotting massive information about your leads on laptops, paper pieces, etc. If all of this information does not get stored it will be forever lost. Prioritizing customers will become more of guesswork rather than based on logic and facts. If an experienced sales person moves on, you will have no way to access this data about your clients for ever.
But it's not just risking all your leads that is the problem if you do not use CRM. Handling your customer service is a big issue here. To follow up on a flood of information across different platforms— including phone, email, or social media. Being committed to asking the right questions, following up on orders, or contacting you about a problem. If you do not have a single platform to manage all of these interactions this may lead to a slow or unsatisfactory response. A CRM will also help you in analyzing and making sense of your contacts' information and whether they are getting the attention they need. It is easy for managers to lose track of what their teams are up to if they can not follow up on their progress with leads or clients. Click here to know more about CRM options you can deploy.
CRM is suitable for business of all sizes and will drive business growth; in-fact, it is specifically beneficial to small businesses, where teams need to manage a ton of tasks with limited resources. If you are planning for business to last, you need to adopt a customer-centered strategy supported by the right technology. You can use your customer relation management system to gather information from their public social media activity — such as their likes and dislikes or what do they like/ dislike about competitors.
When you market your product and services through a CRM solution you can optimize campaigns with a data-driven approach, to better understand who is in the sales pipeline. This will help make planning and forecasting simpler and more accurate for your teams. It will help you or your team to manage communication across multiple channels without losing track, and allows sales, service, and marketing a complete view of the customer to inform their activities. The ability to coordinate smoothly between these three functions, and their teams manage client requirements is an invaluable asset for any business and leverages the communication experience.
When you run your business without a CRM, this can cost you a lot of wasted money. It is because the more you spend time on administration the less time money and effort you will have for everything else.
Consider an active sales team, who are out on the road or on phones, meeting prospects jotting massive information about your leads on laptops, paper pieces, etc. If all of this information does not get stored it will be forever lost. Prioritizing customers will become more of guesswork rather than based on logic and facts. If an experienced sales person moves on, you will have no way to access this data about your clients for ever.
But it's not just risking all your leads that is the problem if you do not use CRM. Handling your customer service is a big issue here. To follow up on a flood of information across different platforms— including phone, email, or social media. Being committed to asking the right questions, following up on orders, or contacting you about a problem. If you do not have a single platform to manage all of these interactions this may lead to a slow or unsatisfactory response. A CRM will also help you in analyzing and making sense of your contacts' information and whether they are getting the attention they need. It is easy for managers to lose track of what their teams are up to if they can not follow up on their progress with leads or clients. Click here to know more about CRM options you can deploy.
CRM is suitable for business of all sizes and will drive business growth; in-fact, it is specifically beneficial to small businesses, where teams need to manage a ton of tasks with limited resources. If you are planning for business to last, you need to adopt a customer-centered strategy supported by the right technology. You can use your customer relation management system to gather information from their public social media activity — such as their likes and dislikes or what do they like/ dislike about competitors.
When you market your product and services through a CRM solution you can optimize campaigns with a data-driven approach, to better understand who is in the sales pipeline. This will help make planning and forecasting simpler and more accurate for your teams. It will help you or your team to manage communication across multiple channels without losing track, and allows sales, service, and marketing a complete view of the customer to inform their activities. The ability to coordinate smoothly between these three functions, and their teams manage client requirements is an invaluable asset for any business and leverages the communication experience.
