No business- regardless of its size – can afford to neglect customer relationship management. At its core, it is a system of record-keeping that ensures nothing goes in one ear and out the other. It can be anything from a spreadsheet of contacts, a tailor-made system, or a simple database.
However you approach CRM, if done efficiently, you can increase your sales, skyrocket customer retention, improve profit margins, and even slow down sales and marketing costs.
Be honest, how many times have your customers’ details gone missing? Or has a unique opportunity to get in touch with a client come and gone unobserved? Have some of your best clients choose another service, and you don’t know why?
Whatever business you are in and however small your company, customer relationship management will help you tackle these challenges more efficiently.
#1 Customer analysis and segmentation
Think about the groups of people in life – friends, family, coworkers, coaches, educators, and more.
Chances are you don’t communicate with each of them in the same way. For instance, you most likely chat with your friends and family in a different way than you do with your colleagues. Perhaps you have different expectations of and practices of interacting with each of these groups as well.
The same goes for your clients. Within your organization’s vase of clients, there are inevitably multiple groups of people.
Those who constitute these groups from various places have quite unique traits, pain points, needs, and expectations for your business in terms of support, communication, and more.
The gist to a successful relationship with your customers is understanding their chosen styles of communication and different needs. Therefore, knowing your clients and their needs is a starting place to get more leads, increase conversion rates, and improve customer satisfaction. And that’s where CRM software intervenes – allowing you to keep your customer data in one place, categorize it, manage it, and segment your audience.
In this way, you will better identify your customer needs and their preference, track calls and purchasing histories, improve targeting, sort out rejection reasons, and even more. What’s more, is that you will also be able to separate your customers in different groups and define each group’s life-time value.
#2 Data Storage and organization
Far too often, businesses face challenges with data stored in different places and data access that can include both the time-consuming data search process and lack of data access permissions.
CRM software is an ideal solution for storing valuable information in one place and providing easy and quick data access. Now that you have different tasks and cards or user statuses, a CRM system allows you to easily organize and visualize your data.
This data can be any type of information as everything hinges on your business-specific and processes. Typically, here we refer to data as contacts, user name, date of the first reference, purchasing dates, client name and cost, job position, rejection reason, level of wages, contract reference, credit history, and more.
Having everything within your reach, it means your manager will get the ability to pay more time and attention to more valuable tasks. Consequently, your organization’s productivity will dramatically increase.
#3 Reduced Manual Process
Storing records in Microsoft Office or Google spreadsheet, manual data input, long data search, manual checking statuses, and lack of instant notifications … sounds too tiring. If so, you should ponder on the benefits of CRM system integration.
The use of CRM software will allow your team to minimize such a manual process. Instead, your employees will get the chance to focus on other, more significant tasks. Simultaneously, the level of control over activities and data will be increased, and the level of customer service is enhanced thanks to work and notifications automation.
# 4 Lead tracking and management
It goes without saying that sales are somehow lower when there is a clear lack of an effective lead generation system. A CRM solution is irreplaceable when it comes to lead tracking and management.
Why? Because it provides you with a 360-degree view of each client from the moment of the first implementation to the end of service. You can also use a tracking system or a lead scoring to estimate each lead’s potential and set up notifications on when to email or call.
#5 Activity tracking and management
How can I make sure my employees work well, and my customer service is quality? A CRM system can answer these questions.
The advantages are that you will get the ability to track and monitor your specialists, track tasks and their completion, view different schedules, and trace communication with clients. Thanks to the CRM software, your business will maintain the same quality way easier, bringing you more satisfied customers.
We have covered some of the most common problems a business can face and how CRM software helps in solving them. To put it simply, there are so much more to this software than meets the eye.
Although a CRM is, in simple terms, a mere customer database, however, it can solve more than what people know. Coming up in an organization with structured customer data, reduced manual process, and improved activity management, CRM system integration can solve a wide range of industrial problems and challenges.
As a business owner, you should ponder on CRM application development if your company employs 10+ specialists, provides some services, has a marketing team, or receives multiple requests every single day. With a CRM solution in place, your team and managers will be able to focus their attention and time on more valuable tasks than endless data input, manual audience segmentation, checking user base, and more.
As you can see, there are a myriad of advantages to using CRM software. It will improve your business’s efficiency regardless of its size and at the same time take many of the non-essentials and time-consuming challenges and manual tasks off your manager and team’s shoulders.