What is CRM?
“Customer relationship management (CRM) is a term that refers to practices, strategies and technologies that companies use to manage and analyze customer interactions and data throughout the customer lifecycle, with the goal of improving business relationships with customers, assisting in customer retention and driving sales growth. CRM systems are designed to compile information on customers…[and] give customer-facing staff detailed information on customers’ personal information, purchase history, buying preferences and concerns. CRM software consolidates customer information and documents into a single CRM database so business users can more easily access and manage it.”
Why should I use CRM software?
Generally companies using Customer Relationship Management software see approximately:
37 % faster decision making
26 % increase in revenue
36 % increase in customer satisfaction
But my company’s too small to use Customer Relationship Management…
If you already use spreadsheets, email or address books/diaries to keep track of your customer’s details and interactions you are already practicing Customer Relationship Management (CRM) of a sort!!
The key question is, does managing your customer information in this way make the best use of your time and resources to develop and grow your business?
Help Your Business Grow
People buy from people, so growing and managing your relationship between you and your customers/potential customers as effectively and efficiently as possible is bound to help you grow your business bigger and faster than ever.
Know/Understand Your Customers
You can use Conclusys CRM to build up a complete understanding of your customer’s history with your company. Use this knowledge to build a strong relationship built on trust and mutual success.
Reduce Your Sales Costs
Acquiring new customers can be up to 10 times more expensive than continuing to service current customers, however new customers are required for business growth. However you can offset the cost of acquiring new customers against sales to your existing customers. Gain greater insight into the upsell, cross-sell and renewal opportunities of your existing customers using the CRM. See repeatable sales move faster and smoother due to the trust you’ve already engendered.
“The probability of selling to a new prospect is 5%–20%. The probability of selling to an existing customer is 60%–70%” Source – Marketing Metrics
Freeing you and/or your team from admin gives them more time to connect with customers. Finding contact details or data entry can be automated. The time gained can be used talking to new customers and strengthening relationships with existing ones.
Provide Better Customer Service
Customer Service and After Sale Care are as important as the quality of your initial product/service. Fall down here and you could end up losing a customer! When your entire team has access to a customer’s complete purchase/customer service history, via yout CRM, everyone can provide a personalised service to the customer and the result is smoother interactions that build trust and encourage repeat business.
“55% of consumers would pay more for a better customer experience”.
Source: Defaqto Research
6 Existing Indications You need CRM…NOW…!!!
If one or more of the following situations apply to your organisation then CRM could make managing your business a whole lot easier:
No Single Source of Information
Do you have an address book, a separate calendar/diary, emails in your inbox, separate contracts, various customer related spreadsheets? Then everyone from your organisation who interacts with your customers is at a disadvantage. They lack a single overview of your customer’s contact info, orders and interactions.
Producing Reports is complex and Difficult
Do you have to create/author reports manually? If so then your capability to track your customers purchases/expenditure with you is slim. You should be able to monitor each customer’s financial history with you easily and run hassle free monthly reports using your CRM.
You’re Losing Data
You can’t find that last email, you’ve misplaced the post-it-note from the phone call, you’re sure you wrote the date of that meeting in your diary…but it’s not there. If your customer interactions aren’t being tracked via your CRM important details get lost…especially if an employee leaves your company.
It’s Hard to Work While Mobile/Remotely
When your salespeople are out meeting prospects how long/likely is it that the rest of your organisation gets to see/access that information? Customer information scribbled in notebooks or locked on personal computers is a data goldmine. Get your sales people to add all of their information straight into the CRM using the mobile app or accessing the CRM directly using the internet browser on their phone/tablet/laptop so everyone can access the information!
Personalising Your Service to Customers
Personalisation of service builds trust and loyalty. To make the most of every contact you make, you want to be targeting prospects based on industry, geography, stage in the buying process, value of the customer, not just sending the same messages and offers to all of your customers and prospects. Use your CRM to segment your customer/prospect base and service them accordingly.
Discover the benefits Conclusys CRM could have for your business, the right system for a more profitable business. For your free, no obligation, initial consultation contact me on firstname.lastname@example.org or on 0845 544 3210.