10 Main Benefits CRM Can Help Your Business With
December 25, 2020
Customer Relationship Management (CRM) is an approach that manages customer interaction; establishes and maintains a good relationship with the customers; and creates more customer engagement.
CRM solutions achieve these through technology and innovation. The top-10 benefits include:
- Deeper customer insight
- Improved Customer Relations and Customer Experience
- Efficient Data management
- Sales prediction
- Improved personalized customer interactions
- Improved Customer Opportunities
- Business risk and expense management
- Increased productivity
- Better Team collaboration
- Lasting Customer loyalty
Let us see how:
- Deeper Customer Insight: Customer data collected through different channels (ecommerce site, social media, mobile) is huge. Good CRM systems store an extensive amount of customer data and track behavioral data through customer clicks (email, websites, etc.) You can effortlessly input agency statistics, sales data, client history, and information into its centralized customer database.
- Improved Customer Interactions / Relations: A CRM insurance software easily integrates with different email programs and also connects text messaging and social media options. Therefore, you can interact with customers in a more personalized way, send messages and replies, and offer tailored solutions.
- Sales Prediction: When you have customer insight, you better understand what they require or may require in the future through data #analytics (behavior, history, and profile information.) Nurturing your customer becomes easier resulting in brand loyalty and excellent business relationships.
- Efficient Data Management: With a CRM in place, your teams can access all contact data from a centralized database. CRM systems collect customer data mostly through web forms. These are automatically added to the database removing the scope or human error.
- Increased Productivity: CRM automates a lot of manual processes: for example, you will have an automated scheduling process and data entry process. Automation frees up employee time to do more strategic tasks and to be more customer-focused.
- Improved Customer Opportunities: A great CRM Application helps you manage leads ─ track potential customers from initial contact to the sale’s closure. You can generate forecasts and reports and set notifications for birthdays and appointments.
- Business Risk and Expense Management: Cost optimization is one of the great features of CRM. Automation helps in staff-optimization; built-in marketing, sales, and customer support automation saves the cost of investment on separate systems; transforms leads, and helps closing more deals with minimal effort. This means more revenue (return on investment with CRM software is around $5 to every $1 invested.)
- Improved Customer Experience: Today’s customers are smarter and well-informed. They prefer a business with a great service; expect everyone they interact with to be on the same page (know who they last spoke with, their questions or concerns, and the next step.) With CRM, the marketing, sales, production, and delivery teams have access to any required information (product, prior transactions/communications, etc.) resulting in a great user experience.
- Better Collaboration Across Teams: Contact management and CRM software help everyone in the company to have a 360-degree view of all customers; prospect interaction, all their data, etc. All teams work with the same data from the same database. For example, marketing has a view of what sales are doing, and vice versa.
- Lasting Customer Loyalty: Customer reviews and surveys are better managed with CRM giving a clear picture of what your customers want. This along with team efficiency, you can take your product and services to the next level. The result is a cherished and long-lasting Customer relationship and loyalty.
Choose and implement the right CRM platform to manage your customer data. CRM integrated with Microsoft’s Dynamics 365 can bring quick business success.
Interested to discuss more, please feel free to contact the author at email@example.com
About Ashish Bhalla
Ashish has almost 30 years of industry experience in a wide range of business solutions primarily focusing on end-to-end customer experience management. He is the founder and CEO of Digital Business People (DBP), an omni-channel customer experience management company headquartered at Singapore with it’s development and delivery centres in India.