How CRM Helps In Bolstering Customer Relationships
Posted on September 12, 2016
Customers are the most important part of any organistion on which the success of the business depends. The better a business can maintain its customer relationship the more revenue and it will accumulate. Today, many companies are embracing Customer Relationship Management (CRM) software to manage company’s interactions with prospective audience and existing customers. With this technology, companies can increase their productivity and augment customer satisfaction rate.
A Complete Overview About CRM
Customer relationship management is not just a software that manages data of each customer, but it is an excellent strategy to gain insight into customers’ needs and behaviors. This powerful technology provides a comprehensive view of individual client and helps in monitoring previous interactions, status of orders, pending invoice, and many other things. Knowing the data of each customer is very crucial so that the sales personnel will know the information required in dealing with their customers.
In the competitive business environment, the importance of retaining pre-existing customers and expanding business is paramount. Statistically speaking that it costs five times more to attract new customers as it does to keep existing ones happy. This is why, it is essential to embrace a platform that not only helps companies to engage new prospects but also helps them to gather data about customers’ behavior and modify their business operations to ensure that customers’ needs are served in the best way.
Today, every domestic as well as reliable international call centre is using CRM software to provide efficient customer service to foster customer relationships. With the help of this intelligent application, the company can expect higher profits in comparison to their counterparts who are employing such strategy till now.
Given below are the reasons why it is needed:
- CRM helps in finding out customers’ purchasing habits, opinions and preferences
- It augments sales and productivity by profiling individuals and groups
- CRM changes the way a business operate to augment customer service level and marketing
Benefits of Implementing CRM
Aside from strengthening customer relationship, CRM also provides other benefits to a business. This blog post outlines the benefits of implementing CRM to a business.
Close more business deals: Through CRM system, it will become easier to identify the leads quickly. By categorising leads, one can easily customise pitches. Creating a compelling sales pitch can drive more leads and also help in reducing the response time. Through this, sales personnel can determine quality and responding leads. In this manner, the sales team can focus on quality leads and spend time in closing the deals. Note that finding quality leads can make better contracts and yield more profit. This ostensibly increases the productivity of the sales team.
Increase referrals and revenue from existing customers: Hiring outsourced outbound telemarketing services is the best way to improve sales leads. It is because call centre agents are well-versed with the latest industry trends and have knowledge about up-selling and cross-selling. With the help of CRM system, it will be easier to determine more opportunities. Providing good customer service can improve customer loyalty towards a business. This in turn increase repeat customers that spend more time on a business than new customers. Satisfied customers spreads word of mouth and make referrals to a business. In this way, new customers will add and profitability will also increase.
Augment product and service: CRM system collects data from various sources such as calls, online chats and social media channels. With this data, a business can have a clear picture about customers and what they feel about the products and services offered to them. Hence, a business will know if there is any scope of improvement in product and services offered.
Optimise work performance: Call centres integrate CRM system to obtain better insights in making the right decision. Business can access dashboard that provides a real-time picture on how the business in running. It helps a business to analyse its performance. Moreover, business will know the new customers receiving company’s email. It reduces the overhead expenses as business and its users can access all the aspects by visiting a single platform.
In short, by using CRM application, businesses can gain a better understanding of customers’ needs, purchasing behavior and patterns that further helps them in garnering huge revenue.