What are the advantages of CRM in a company?
What are the advantages of CRM? CRM manages and automates the relationship with consumers, facilitates a professional service and creates new opportunities for the development of commercial strategies (actions that increase sales).
There is still a certain lack of knowledge about the concept of CRM and the advantages of having a management software that facilitates the work processes of different departments of a company.
It is usual that in the explanations of those responsible for SMEs about what a CRM is and what it is for , it is said that it is only useful for large volumes of work and large companies.
"My volume and structure are small and don't justify the investment."
They say.
"Yes, I understand that it is important for my business to have a management CRM and it can help my company grow and optimize processes, but surely the cost of implementation time and maintenance is so high that my company cannot afford it."
Other entrepreneurs say.
Nothing could be further from the truth! We see it every day. There are companies that achieve a special connection with the customer by talking to them face to face and others that only generate a commercial transaction: they do not go deeper into any aspect or generate a lasting bond, beyond the economic.
What is a CRM?
CRM systems are powerful tools with multiple possibilities for defining marketing strategies and establishing positive interactions with customers. CRM software is a technology that can be successful only if it works within a strategy that guides its implementation. Together, human resources and technology create a team that gets results.
9 Advantages of CRM
Without customers, a company can't grow, and without good customer management, neither can it. So how do you successfully manage the relationship and provide customer service that makes them feel unique and heard?
The power of CRM solutions is important both to streamline decision making and to optimize the business process.
A customer-centric strategy gives us clear opportunities to act with certainty, as it records all interactions between the customer and our team over time. These reports are just a click away through CRM systems.
We selected some of the advantages of having a CRM tool, know 5 of the benefits of having a CRM in your company.
1. Improve conversion metrics
Because you know your customer, you can offer them the product or service they need to buy at the right time.
The CRM model can be programmed to create more personal relationships. It gives the customer the information they are looking for. This way, when they are ready to make a purchase, it will be you and your company that will come to their mind as the best option.
2. Facilitates the management of the sales process
You may have a highly qualified sales team with knowledge of each of the customers that make up your sales portfolio. But you need other departments or team members to know the information. When was the last conversation with the customer, what is the volume of the sales opportunity? What is the expected closing date of the deal?
All the information is recorded in the CRM. Now the business owner - or sales manager - can quickly measure productivity and ROI for each customer and project.
3. Task Automation
The information you get from customer and process tracking allows you to focus on the issues that help your assets' productivity and performance.
This way you don't invest resources in time-consuming tasks that act as time thieves.
With a CRM system you can automate repetitive tasks such as creating and sending invoices, emails and administrative tasks. You dedicate your time to everything that benefits the company.
4. Systematizes work processes
A CRM helps to implement a method and a work system, and measure the results. It is important for your company to move forward and stay aligned with the needs of the market and your customers.
5. Reach more potential customers and nurture current customers
Surely there are many customers who need the products and services you offer in your company, but do not know you or are not ready to buy yet.
6. It translates into customer loyalty
The CRM system allows you to properly segment your database. You offer each contact the product that suits their needs at the right time. You cross-reference data and benefit from cross-selling tactics. But does CRM always work? Companies that understand CRM only as a software will find that the results will not meet their expectations.
The right approach to these solutions is based on how they take advantage of and interpret the information that the tool provides.
If you are not clear on what questions to ask and what answers you need to get from the CRM, you can get lost in a sea of data. Like any tool, the result depends on the expert mind that uses it.
7. Facilitates access to information about customer needs.
All users of the CRM system have access to the information they need, anytime, anywhere (in the case of SaaS solutions).
In other words: the customer database is centralized and accessible to all employees, depending on the access levels you grant to each one.
8. Customer relationship analytics
You must have a broad and detailed knowledge of your customer network. Detect the undetectable and automatically reset prospects.
Analyze customer inquiries to optimize follow-up and respond accordingly.
CRM allows you to take advantage of every opportunity, plus customers are satisfied with the offer or product you provide.
9. Improve sales!
Undoubtedly the most important of all CRM benefits: increased sales.
With detailed dashboards, relevant reports and valuable analyses, you have a global view of your processes, opportunities and results. Put them in value and identify the points of dysfunction to give them a concrete response and eliminate lost sales.
A CRM is not a gadget. It is a relationship marketing toolbox that will allow you to improve your relationship with the customer in significant proportions. All testimonials converge and provide a generous ROI after the implementation of a CRM. Centralize your data and work calmly to improve customer satisfaction.
The collaborative aspects and the centralization of data enable all the company's services to improve customer knowledge. The goal is to identify and seize the best business opportunities and then retain them.
What do companies expect when they install a CRM for customer management?
A CRM system is key to developing impactful marketing and sales tactics and is one of the most important pieces that support a company's business strategy. But it goes far beyond automating actions.
A brand's ability to evolve and adapt its work processes to what its customers are asking for, at every point in the sales cycle, is a valuable skill that can make the difference between success and failure. This is where customer relationship management software has a lot to contribute.
Basic and advanced functionalities of a CRM solution.
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Customer relationship management .
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Centralization of customer data.
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Marketing automation.
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Sales force management .
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Sales process tracking .
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Sales flow.
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Contact and supplier management.
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Customer profiling.
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Experience management.
Short and long term benefits
Short term benefits:
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A time savings for everyone.
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The end of duplicate information.
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Same up-to-date information for all departments.
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Pragmatic customer monitoring and management.
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Better customer experience.
Long-term benefits:
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Increased sales.
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Increased sales productivity.
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A refinement of forecasts.
Conclusion: CRM benefits and functionalities
A CRM benefits companies by centralizing all customer information in one place, which makes management more efficient by eliminating the use of several tools (free or paid) that are not compatible with each other.
When companies cannot cross-reference data automatically, they are forced to manage it manually. This implies a waste of time.
In summary, with the implementation of CRM it is possible to segment the information according to the company's strategy and apply sales stimulus actions.
CRM brings transparency to the organization. All team members know where each management and each customer is at.
Companies can make smarter decisions: which customers bring the most profit? which ones show potential? where does the company need to articulate new actions?
In other words, if you use information, you get satisfied customers, save costs and sell better.
Article translated from Spanish