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 common for SME managers' explanations of what a CRM is and what it is for to say that it is only useful for large volumes of work and large companies.
" My volume and structure are small and do not justify the investment".
They say.
" Yes, I understand that it is important for my business to have a CRM and it can help my company grow and optimise processes, but I am sure that 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 into any aspect in depth or generate a lasting bond, beyond the economic aspect.
What is 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 listened to?
The power of CRM solutions is important both to streamline decision making and to optimise 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 have selected some of the advantages of having a CRM tool, see 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 buy, it is you and your company that will come to their mind as the best option.
2. Facilitate the management of sales processes.
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 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 gain from customer and process tracking allows you to focus on the issues that help your assets perform and be productive.
So you don't invest resources in time-consuming tasks that act as time-stealers.
With a CRM system you can automate repetitive tasks such as creating and sending invoices, emails and administrative tasks. You spend your time on everything that benefits the company.
4. Systematises work processes
A CRM helps to implement a working method and system, and to 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 business, 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 think of CRM as just software will find that the results will fall short of their expectations.
The right approach to these solutions is based on how they exploit and interpret the information that the tool produces.
If you are not clear on what questions to ask and what answers you need to get from CRM, you can get lost in a sea of data. Like any tool, the outcome 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 centralised 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.
Analyse customer enquiries to optimise 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 turnover.
With detailed dashboards, relevant reports and valuable analyses, you have an overview 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 the testimonials converge and provide a generous ROI after the implementation of a CRM. Centralise your data and work calmly to improve customer satisfaction.
Collaborative aspects and centralisation of data enable all services in the company to improve customer insight. 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 marketing and sales tactics that make an impact and is one of the most important pieces that underpin 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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Centralisation 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 saver 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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Monitoring and customer management is pragmatic.
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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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Refined forecasting.
Conclusion: CRM benefits and functionalities
A CRM benefits companies by centralising all customer information in one place, making 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 is a waste of time.
In short, with the implementation of CRM it is possible to segment information according to the company's strategy and to apply sales stimulus actions.
CRM brings transparency to the organisation. All members of the team know what stage 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