‘Customer is king’. The business mantra has been around for as long as one can remember. In this internet age, where customers have the choice to switch loyalties at the push of a button, this age-old adage is more relevant than ever before. Gone are the days when the customer had no other option (more of a compulsion) than to stick to a particular provider. The modern customer is tech-savvy and hates to wait. If things don’t change, they don’t keep on watching from the sidelines, but get up and make the change happen.
The modern customer has access to various digital media platforms that don’t only help them make informed and rational decisions but also give them a voice they have desperately wanted. For businesses, the tables have clearly turned. They can no longer ignore the concerns and demands of their customers. The rules of the game have been rewritten. Satisfaction is no longer good enough for customers; they wanted to be delighted and swept off their feet.
Businesses across the globe are responding to these changes by adopting a more customer-focused strategy. Businesses today focus on forging long-term relationships with their customers. The once widely accepted notion that interaction with a customer must end once the sales are closed is scoffed today. The new rules of the game say that businesses must go beyond that line, taking steps to ensure their customers become their brand advocates. The tectonic shift in the attitude of businesses saw the birth of CRM software.
What is CRM software
Customer relationship management or CRM is not a novel concept. Earlier businesses relied on their team members to take and maintain hand-written notes detailing the results of their interactions with customers. However, as managing customer relationships became a more complex process, traditional methods made way for evolved systems. CRM software is one of the most important tools in the hands of customer-focused organizations. CRM software help businesses manage every aspect of their relationship with their customers. A CRM system is a repository of customer information. Its platform connects different departments in an organization providing them access to real-time client data.
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If you think CRM is just for mammoth enterprises with operations spanning across the globe think again! According to a study, more than 90 percent of small businesses use CRM software. Clearly, small business CRM is here to stay. Still looking for reasons to use CRM for small business? We will give you not one but 5. Keep reading.
1. Provides 360-degree customer view: In simple words, a 360-degree customer view is a snapshot of the customer’s journey with your business. According to a survey, having a 360-degree customer view is more important than getting new customers or retaining the old ones. CRM software store important customer data related to their past interactions with the company(their past purchases and responses). The software also keeps track of the current interactions with the customers, helping identify their preferences. Based on the available data, your managers can outline strategies to influence future customer decisions.
2. Promotes inter and intra team communication and co-ordination: Your CRM software enables your teams to exchange data such as customer details, calendars, and details related to important events. Teams can also exchange new ideas. CRM gets your team on the same page, thereby, helping save time. Team synergy means no lost opportunities and avenues for creating new ones.
3. Helps streamline your marketing strategy: It all boils down to your marketing strategy. An agile, responsive, and adaptive marketing strategy helps you attract new customers and retain the existing ones. The road to designing and implementing an effective marketing strategy goes through data warehouses that are the repository of invaluable data. However, data in the raw form is of no use. To help make sense of raw data, CRM system comes with report generating features. Advanced software offer visualizations that provide insights into campaigns and predict future trends. CRM software gives you the opportunity to study data at a granular level. With a CRM software by your side, generating inter and intradepartmental reports will be a matter of minutes. CRM software also alerts you to system bottlenecks promptly.
4. Automates processes: Your teams are tied up in repetitive tasks that they need to perform every month. CRM software breaks these shackles by automating processes. When your teams do not have to maintain complex paperwork, they are left with more time to devote to constructive activities that really matter.
5. Helps improve your customer experience: Ensuring 100 percent customer satisfaction is no longer enough to help you retain your customers. To win over your clients, you need to delight them. A CRM software helps you exactly do that. CRM software stores important data related to past and present customer interactions. Your teams can use this data to serve your customer better. CRM software helps do away with bottlenecks and roadblocks impacting service delivery. On-time service delivery not only helps keep your customers happy but also gives them a reason to refer your services.