Relationships today, need their required time and proper management to stay intact. The same is the case with customer relations which makes CRM a prerequisite for every business.
So, the question here is;
What is CRM?
CRM stands for Customer Relationship Management, which is a set of strategies, tools, and software that assists businesses in managing their customer interactions throughout the customer lifecycle. It means managing customer relationships as a whole.
What does a CRM do?
Customer relationship management performs a wide array of tasks that fall anywhere in the customer lifecycle. From creating brand awareness and marketing to searching for leads and turning them into potential prospects, to boosting sales and offering services, focusing on support and nurturing relationships with your business, a CRM system is a one-stop shop for managing your customers and generating business.
A person may be forgetful but a Customer relationship management system never forgets. Each customer entry in your Customer relationship management system represents a story regarding each customer, how were they acquired and what did they purchase. This story helps you to learn more and develop strategies in order to keep the customer with the business for a much longer period of time.
From basic contact information and transactions to past records including social media activity, a CRM system gives you a complete insight into the customer journey making sure that nothing slips through the cracks. In short, a CRM system gives you a complete and detailed picture of the customer journey.
A CRM also comprises automation features that help get rid of tedious tasks that are repetitive in nature. Actions such as lead generation, sending automated emails and data analysis, etc. are done by the CRM system itself. This assists your team to work on tasks that require more attention. Moreover, the CRM system keeps all of your team on one page by sharing information with the entire team so no one misses out on anything.
How CRM benefits your business?
Organizations with a relatively larger customer base use a CRM system. It is a great asset for the sales team as it provides them with all the data required to generate leads and close deals along with ensuring customer quality and customer experience. It provides a detailed picture of a customer, their buying habits, and purchasing patterns along with assisting your team to communicate and deal with the customer accordingly. With a detailed history of every interaction, a CRM system cuts down time by covering multiple small tasks and keeps everyone at a good pace.
Following are some benefits that come with CRM Implementation:
Tasks Automation
CRM systems not only manage your customers instead they also automate various tasks. These offer sales and marketing automation along with customer service automation so that your team can focus more on the customer and stop worrying about these tasks.
Marketers are creative humans and the worst that can happen is to get them stuck in more mundane tasks that are repetitive. Customer relationship management automates tasks like email marketing campaigns, web marketing campaigns, scheduling social media, etc., and assists in further marketing tasks.
Moreover, CRM boosts customer service experience by aiding the customer service team in automation like chatbots, etc. This helps improve efficiency and customer service quality.
Maintain a Centralized Database
A CRM system keeps all the information stored in one place and gives access to the entire team. This cross-team access manages information easily via a shared location so anyone can use it when required. It avoids the sales representatives to dig through files and records for the information they need on a specified prospect. Thus, deals are closed with ease.
Automate the Data Entry Process
With the assistance of a Customer relationship management system, your team will never have to enter logs, emails, calls, and interactions manually. Customer relationship management will do it all for you ranging from recording interactions to closing a deal and managing a purchase. The sales representatives would only update their deals and the Customer relationship management would do the rest.
Send Reminders and Alerts
CRM records all the dates and important times and marks them up on its calendar. It tracks the prospect activity as well as notifies the sales representative about it. When the sales reps are reminded about the follow-ups, they get more insight on when to approach the prospect and convert them into a potential customer. Hence, more deals are closed and converted creating a win-win situation for all.
Customer Segmentation
Segmentation holds importance when targeting prospects. A Customer relationship management system stores every detail about a prospect which means that it assists in arranging prospects accordingly. Segmentation filters like contact location, company size, and deal stage further help the team have a clear image of where the prospect falls in the sales funnel.
Create Sales Reports
CRM helps collect and organize data regarding deals and prospects. It is done by using reporting features like a sales dashboard that determines the success rate and progress of the team.
These sales reports further assist in forecasting the sales for the future. It helps in figuring out what resources are the most profitable in generating leads and resulting in sales.
As a business, do we need a CRM?
No matter what size your business is, keeping customer data in one place will definitely put your life at ease. Let me ask, have you ever found yourself at a place where you are looking for a piece of information and unable to find it?
Well, this is the point where you should consider implementing a CRM system as it helps streamline a lot of business processes. If you want your business to grow effortlessly installing a CRM system is your best hit.
You have to spend some money in order to make more money, so, hiring a CRM consultant for your business is an option to consider. Databeys, an expert CRM consultant located in Dubai, will help you get the best out of your CRM. We will manage your customer base for you along with helping you with marketing and lead generation. Connect with us and we will contribute to your growth.