Customer Relationship Management: 360˚ Customer Relationship with a CRM

Would you be able to give a definition of the meaning of CRM? It is a term that is often misused. However, it plays a key role in the business strategy of companies, regardless of the size of the organisation: from very small companies to large corporations.

In fact, according to the Provide Support study, not only 87% of 'happy' consumers are likely to return, but 71% are also more likely to forgive a mistake.

Customer relations must centralise all your company's efforts, to put the customer at the centre of your strategy and thus build a relationship based on trust.

Appvizer explains the key points of customer relations and offers some key tools.

Definition: what is (CRM) Customer Relationship Management?

The purpose of CRM is to attract and retain consumers of a company. Its mission consists of two steps

• to win leads by converting them
• meeting expectations in order to build loyalty, establishing a healthy and stable relationship

Without buyers, a company is not profitable. Establishing a relationship is essential.

It can be defined as the set of processes for managing customer relationships based on the analysis of information about them; information, which plays a fundamental role in the construction of continuous, stable and lasting relationship strategies...

Glossario marketing

What is clear to us:

• It encompasses all actions concerning customer relationship management
• It is strategic if integrated into all business functions
• It costs less to retain than to acquire so in the long run it is the winning strategy

What is remarkable about CRM is that it provides what is perhaps one of the most valuable assets to date: data. Every possible type of data: from simple contact to purchasing preferences (yes, you can even tell if you prefer to shop online when it rains). Companies therefore find themselves in the position of holding an extreme amount of information with which to understand strengths and weaknesses and become more and more precise in competing in the market.

CRM Challenges

More and more companies are focusing their strategies on the user. They are moving from a product-centred vision to a consumer-centred vision.

They are putting the human being at the centre of their strategies. Indeed, the decisions of your leads are based on facts, but also on their emotions. The human dimension must not be neglected to build a lasting relationship.

The humanisation of business relationships is a need that is especially felt in sectors where interactions are based on digital channels. We therefore seek to promote the customer experience and promote the brand in a competitive environment.

You need to drive the relationship with the consumer across all channels, with obviously a focus on everything mobile. It allows your users to benefit from a service anytime, anywhere.

Today's users not only have more needs and information, they can also switch from one service to another more quickly and easily. The example of ISPs (Internet Service Providers) or telephone operators is significant. If dissatisfied, they can terminate their contract with a few clicks and conclude a new one with a competitor.

In the current context in which the GDPR encourages consumer freedom, be careful!

To avoid being in a difficult situation, it is important to increase loyalty actions.

How to implement a CRM system

Given the constant influx of data, corporate strategy can constantly evolve by adapting to the stimuli it continues to receive. It is, therefore, a matter of being able to take advantage of a lean approach and continue to improve in order to become more and more accurate.

A model that greatly describes the implementation of a CRM system is the Deming wheel, which is the basis of lean management theory, and which is developed in 4 stages:

source Wikipedia

1. Plan: plan based on current data
2. Do: put the plan into practice
3. Check: check the results
4. Act: take action

It is a circular model whereby the results of one phase for a campaign or project will influence the next phase.The idea is that the company learns from itself continuously.

The principles of customer relations

Customer relationship management (CRM) is based on three fundamental principles. Let us look at them together in detail.

Listening to the consumer

You sell something because the customer exists, or rather because his needs exist. By actively listening to him

1. you will show him your interest
2. you will be able to accurately identify his needs
3. you will better prepare your sales proposal
4. you will sell better
5. establish a solid and lasting relationship between your customer and the company.

The relational strategy

To implement this strategy, you must go through the qualification of your potential customers and then segment your contact base. This allows you to customise your approach according to the profile of each customer.

Secondly, the frequency of relations with a particular customer is induced by the segmentation of your database: it is not necessary to spend time with each customer, each relationship requires different rhythms.

The multi-channel approach

The multi-channel approach in a marketing campaign is a technique that allows you to reach the customer through different means. Multiply the possibilities of contacting your customers and perform several functions: remember them, make them aware that you are listening to them, that you are there to help them find solutions to their problems. There are many ways to achieve this:

• e-mail
• telephone
• mail
• SMS
• website
• social media etc.

Multichanneling increases interactions with your customers. This facilitates the establishment of a sustainable customer relationship.

Why is customer relationship management (CRM) important?

Because your customers are the lifeblood of your company

When we talk about customers, we mean sales, and therefore revenue. Without a customer, a company is not profitable. Customer care is essential to keep your organisation financially sustainable.

Because it allows you to distinguish yourself from your competitors

Managing customer relationships well can be a competitive advantage in a difficult market. While customers may sometimes find similar offers, a successful customer relationship is reflected in a positive brand image and can make a difference with undecided customers. It helps to win customers, or convince potential customers more easily thanks to a solid sales argument.

On the other hand, an ineffective or non-existent customer relationship will have two types of consequences: not only will it prevent you from finding new customers, but it may also cause you to lose existing customers.

Why it builds customer loyalty

A satisfied customer is a loyal customer. Think about it: it is a cat biting its own tail. You take care of your customers by offering them appropriate solutions to their problems, carefully.

Your customers know that they can count on you and that you know how to respond to their requests under the best conditions. They are loyal to your brand and your products or services: they will turn to you even when new needs arise.

To nurture the relationship with your customers, pay attention to the following points:

• customer service available through multiple channels
• an efficient after-sales or support service
• clear communication
• customised messages and offers
• involvement of your customers in the life of your company, e.g. taking into account their opinions or requests

The 4 facets of CRM

The CRM system can be analysed in the light of its 4 core parts. In brief, we will try to define them in order to clarify the usefulness of each of them

Strategic CRM

The strategic CRM mindset on which the company is based? its customers at the centre. Corporate strategy from the sales force to marketing activities focuses on the customer, projects and choices all follow this dogma. This is what in fact underpins customer centricity, an orientation that is very different from the more traditional (product, sales and market). Its main use is in seeking possible new customers and retaining current ones.

Operational CRM

Operational CRM is an implementation, through automation tools in the customer relationship, of the idea of customer centricity. It seeks to use the best tools for customer service, and technology is obviously fundamental here, to significantly improve the customer journey and the resulting relationship with the company.

Analytical CRM

Data. Everything is about data. Analytical CRM enables constant analysis to attract customers and retain current ones. A detailed study of every possible piece of data to minimise error.

Collaborative CRM

It is a strategy that through tools such as collaborative CRM makes it possible to get to know the customer in depth and move from mass marketing to one-to-one in order to build a lasting relationship of value. In its widest application, it also opens up to collaboration with partners

10 interesting CRM tools

The tools that can be found within CRM software can be varied; below is a short list of those that might be interesting as a customer contact point or advanced and sophisticated tools for data analysis:

1. Chat : Fast and easy communication with the customer and through chatbots 24/7
2. Community: to connect consumers to create a community, exchange opinions or even to find collaboration between company and customers to find new ideas
3. FAQ: to solve common problems with one click
4. Social media: not only for advertising but to interact with the customer, joke around and make the brand meaningful
5. Analysis of browsing data and customer profiling: to focus resources for more targeted results
6. Geolocation-basedmarketing campaigns and offers
7. Tracking customer communications
8. Social sentiment analysis
9. Automatic sending of communications
10. Monitoring of sales activities and satisfaction levels

What are the best CRM software?

To manage and improve your customer relationship, CRM (Customer Relationship Management) software is the essential tool for your business. Why?

• Targets contacts in a given market
• Centralises customer data
• Refers to customer needs
• Customises the commercial offer
• Facilitates segmentation
• Allows you to respond better and faster to customers, etc.

So let's take a look at some interesting CRM software solutions.

CRMsales

CRMsales is a software developed by Eurobusiness that tries to balance state-of-the-art sales and marketing tools with user-friendliness to be as intuitive as possible. Again, the structure is modular and therefore highly customisable according to requirements. It is also available in a mobile version 'CRMsales'. It can be integrated with countless software, including Microsoft's own, and is a customer management solution from market analysis to after-sales service.

Microsoft Dynamics CRM

This is a cloud application from Microsoft that is complementary to the ERP module of the Dynamics line. It is highly customisable and works well on IOS, Android and Windows phone. Prices vary greatly depending on requirements from about 34€ per month to about 143€ (depending on the number of users there may be surcharges) making it suitable for a wide range of companies. A free trial period is available.

Main functionalities:

• consumer analysis
• integration with Microsoft suite
• AI tools
• financial data management
• lead creation and training

Salesforce customer success platform

Salesforce a globally deployed CRM platform. It consists of various tools that can facilitate everything related to the customer relationship. Among the strengths it leverages are analytics tools, full mobile functionality and the integration of artificial intelligence tools within the product. Prices are flexible and range from 25€ to 150€ per month per user.

• Main functions:
• Lead management
• Marketing campaigns
• 24/7 support
• Comprehensive profiling
• Advanced data analysis

Teamleader

Teamelader features an intuitive interface and is designed as a tool for SMEs. It is designed to be easy to use and quick to learn and aims to offer the most complete experience possible of customer relationship management, data collection, quotes and invoices. It can also be integrated with the main software used by companies. If you are curious to try it out but are afraid to invest blindly, it offers a 14-day free trial so you can take your time and then enjoy a product that is on the market at a very competitive price.

Main functions:

• Database for all contacts
• Segmentation and profiling
• Reports
• Integration with social networks
• Leads management
• Invoice and quote management

Implement your CRM strategy

Customer relationships are the foundation of your company. Your customers are both your company's starting point, for the needs they express, and its ultimate goal, to satisfy them. For this relationship to be solid, long-lasting and above all effective, it is essential to use a CRM that helps you increase sales and create a strong relationship with your customers.