How CRM Dramatically Increases Business Profitability | Derry, NI, Ireland

How CRM Dramatically Increases Business Profitability | Derry, NI, Ireland

How CRM Dramatically Increases Business Profitability

What is CRM?

Customer Relationship Management represents a software application with highly useful features for any given business. The main goal of any CRM software, which as the name suggests, is to improve and streamline a company’s or a business’ relationship with its customers.

Why should your business use a CRM software? Well, because without CRM software, your business will work and operate extremely different from a business with CRM. Imagine that you lose the contact information of your customer. The delay may cause them to go to your nearest competitor. Or imagine that a customer is trying to buy a product your company specializes in, but a highly effective marketing message from a rival sway them away from you.

Here are the four major areas of business which can be drastically improved using a CRM software:

Marketing

As we all know, marketing is a crucial area which your business or company should have command of. According to a survey, 57% of a decision is made by a customer when they’re deciding to buy a product.

How CRM can serve you is by automating marketing related tasks. For example, suppose there is a sale lead found by a CRM software. This CRM software could turn that potential sales lead, i.e. the customer, into your fully fledged and long term client, just by sending over the right marketing material, i.e. emails, messages etc. to them at the right time.

Another way how CRM can be beneficial is that it could provide a business with the metrics necessary for analyzing how their teams, namely sales, marketing and business administration have performed. It does this by calculating how many leads have converted into sales and by scrutinizing the final impact.

Sales

The most successful companies are those which focus on their customers. Having relevant data about a business or a company’s customers can help you in the long run and give you an edge over your competitors.

CRM software allows a business or company to keep track of the whole sales process, such as which sales are in the lead and what deals have already been closed. It also allows a manager to keep track if the sales people have followed all necessary steps prior to closing a deal.

In addition, CRM allows you to keep track of customer engagement. For example, calling a customer twice to advertise your product may hurt your chances to keep them. Also, GPS based CRM software allows your sales people to directly have a face off with customers, instead of walking them over through phone or email.

Customer Service

There is nothing more crucial for retaining customers than having excellent and effortless customer service available on demand. According to survey, customer satisfaction will increase in value, even surpassing that of sales and marketing.

“A business absolutely devoted to Customer Service Excellence will have only one worry about profits. They will be embarrassingly large.” – Sir Henry Ford, Founder of Ford Motor Company

CMS contributes in this front in multiple ways. For one, it provides multiple channels for you agents to reach their customers and vice versa. According to a research, 84% of customers now search for and solve their problems using their own means, such as smartphones and PCs.

Having relevant data available to both your agents and customers at the tip of their fingertips ensures they get quality service. This becomes more streamlined and effective as CRM enables agents to spend more time engaging with customers through a variety of channels such as email, phone calls and social networks. CRM removes the tedious labor such as having to remember schedules set with customers. All important information such as their contacts, their follow ups and their previous reach outs are already presented by CRM software.

Social Engagement

Customers increasingly spend time on a variety of social channels to share their thoughts, express their concerns and voice their complaints. No longer do they settle with being ‘on hold’ on a company or business’ landline. Their preference has changed. Now they expect fast, friendly and valuable engagement from businesses and companies. This represents a major shift as businesses and companies are now expected come to the customers, not the opposite.

This is where CRM software becomes increasingly useful. It provides all the relevant numbers and matrices allowing both sales people and marketers to engage with customers and provide appropriate data at the right place and at the right time.

CRM Software lets you see all emerging trends about your product and its reputation. Now when a person voices their complaints or their concerns, a company or business can see it at once and instead of them being ignored, or presented wrong information by others, the business can engage with that customer at once. This increases their sense of loyalty and helps you keep them satisfied and to retain them longer.

Conclusion

Basically, CRM software covers every area of your business to streamline it. What is does is remove the immense work load of administrative work. It allows the whole company to be on the same page to ensure there are no blind spots, no misunderstandings and no communication gaps.

In addition, CRM software keeps the most important part of your business in the spotlight, i.e. your customers. Now that your sales and marketing team both have access to relevant data and are on the same page, if highly increases their productivity and keeps them agile.

“Successful CRM is about competing in the relationship dimension. Not as an alternative to having a competitive product or reasonable price- but as a differentiator. If your competitors are doing the same thing you are (as they generally are), product and price won’t give you a long-term, sustainable competitive advantage. But if you can get an edge based on how customers feel about your company, it’s a much stickier–sustainable–relationship over the long haul.” – Bob Thompson, CustomerThink Corporation

As a result, your company or business experiences higher sales leads, more deals closed and higher customer retention and loyalty. Your customers are engaged at once with relevant marketing material and better services keeping them ‘warm’ and satisfied.

Dee-Technology Specialist

Need a Software Solution or Support ?

Any bespoke software and applications development CRM - ERP - CMS

Click here to start your project now