If you’re a decision-maker in your very own business, you’ve probably heard the term, CRM echoing about a lot, but maybe – and you’re not alone here – you’re not quite sure what is the big deal.
CRM is a big business and if those who peddle it are to be believed, is an indispensable tool for business in the sales and service industries.
But what does a CRM exactly do and do you really need one?
What is a CRM ?
A CRM or Customer Relationship Management for the uninitiated is simply a program or a piece of software which does pretty much that it says on the tin; helps manage your relationships with your customers.
Seemingly, an elephant never forgets so doesn’t a CRM. That is because a CRM stores all of your customer details in an organized, user-friendly database that everyone has an access to. But a CRM is a lot more than just a glorified Rolodex.
How CRM Skyrocket your Business Growth ?
CRM can perform a wide array of tasks; if it appears anywhere in a customer’s lifecycle, it will have a function. From building brand awareness and marketing, to finding and warming up leads, to mange customer purchases, CRM is a one-step shop for everything one needs to generate and manage your customers.
Each customer recorded in your CRM tells a story about how you acquired them, what, when, where and how they purchase from you or interact with your company and from that story, you learn about how to keep them coming back.
From basic contact detail and transactions to previous interactions and even social media activity, a CRM gives you a record of every interaction your company makes with a customer, letting nothing slip through the cracks.
Not only does CRM give you a centralized, organized place to store all of your data, it also gives a full picture of all your consumer’s journey with your company, which means you can see exactly where in the customer’s life cycle they are present currently.
For businesses with a global customer base like Phoenix NAP Global IT Services, that centralization may be a life saver.
Who Uses CRM ?
The biggest user of CRM software are naturally those organization with a customer base. A CRM is a sales team’s greatest asset, authorizing access to all the data needed to generate lead and close deals, while ensuring that customer experience remains positive as much as possible. But, primary sales- centric CRM is also incredibly useful for marketing and customer service purposes.
That said, a CRM can be utilized by many different department and business types; if there is a relationship to manage, no matter with whom, a CRM can help (Relationship management systems that are not especially customer-focused are often referred o as XRMs, with the X standing in for any number of group of people such as employees, suppliers or partners.)
Is it for your business?
Using Enterprise CRM software brings a great number of benefits to your business. Having a complete picture of your consumer, their buying habits and their communication with your company is essential to build and maintain a positive, lucrative relationship with people at the core of your success.
Storing all that data in one place also helps your sales team. With a centralized history of every interaction your company made with a consumer, time need not be wasted to find when a customer last contacted, ordered or whether their query has been resolved.
CRM also helps foster cohesion and productivity at workplace. With everyone working form the same solution, your team may get access to everything they need to put a great job and stay up to the speed without stepping on each other’s toes.
Picture the scene
Imagine you have a large sales team with several of them working the same patch and Thomas and Henry have been prospecting for new clients in a small town nearby. Both of them keep notes on their respective computers of who they’ve contacted but both of them don’t have a centralized database of their interaction with potential customers.
Although they have weekly meetings to go through potential new leads, its not uncommon that they occasionally forget to note down a phone call they’ve made. One day, Thomas calls a business to inform them about a service his company offers but unknown to him, Henry already contacted them earlier that week. The potential customer got irritated at the repeated sales calls and makes a mental note not to deal with that company in future.
With a CRM, every customer and potential lead has a dedicated record and a detailed history of every interaction. Thomas saw that Henry has already been in touch with this business and that the customer has requested a callback in a few months when they’ve worked out their budget. The CRM has also added a reminder to Henry’s calendar about the call and pulls through information about all his previous conversations with the company so he’s up to date next time he speaks to them.
Better Organization, Better Service
Consumer expectation is high and turning a customer into an advocate is the best and most cost-effective way to generate new leads. CRM enables you to provide better service to your customers; even with the best will in the world, a sales or customer service operative is only as good as the tool they have at their disposal and more information they have access to, better and more personalized service can be.
CRM is also scalable, meaning you won’t need to shell out for a new solution as your business grows. Think of your business as your child and your CRM software as a magical pair of shoes which always fit, no matter how big Junior gets…..
The Final Takeaway
Let’s conclude our discussion by stating that having a centralized platform makes your tracking and reporting a lot simpler. Without a CRM in place, you may have to search co-worker’s files, sit through emails, spreadsheet and handwritten notes just to get an idea of a customer’s history.
