Top 5 Business Gains with CRM
By Elissa Grohne, Customer Engagement Strategist
Customer-centric business is becoming increasingly important. Without a well-maintained customer relationship management (CRM) system, it’s difficult to have a steady focus on the customer. Customers want to be engaged in conversation and feel as though they are being valued. If they don’t receive a positive experience, they will simply go elsewhere—it’s the age of the empowered customer. Companies investing in CRM are using its value to put clients at the core of their business, which is the fastest way to increase sales and profits. Here are five areas of business where CRM implementation can make a positive impact:
Great customer service is the foundation of every successful business. Although we are using more technology for customer service than ever before, we must remember to stay connected and to not lose the human element when applying customer service solutions. Customers are looking for an experience rather than just another transaction. Incorporating storytelling and customization into sales and marketing initiatives goes a long way.
Through tailored Customer relationship management solutions, you’re able to link your client data across multiple platforms to assure enjoyable customer experiences. CRM enables employees to input customer data and build on those valuable customer relationships which allows for a much stronger, deeper customer experience, or as we call it, “customer resonance.” The more you know about your clients, the better equipped you are to predict future issues that can be dealt with proactively. CRM solutions will increase customer loyalty and decrease customer agitation. Maintaining customer relationships is vital to any business, no matter the industry.
Efficiency is key when you’re running a business. Microsoft Dynamics CRM allows you to easily manage client activities, create engagement, and empower your customers to self-serve. You’re able to support your clients by having full visibility on service, buying patterns and marketing. Customer relationship management is an essential tool to increase efficiency and close more deals. Assuming that data is being entered correctly, CRM can drastically improve sales and save precious time. At the click of a button, you can view a customer’s entire history of interactions with the organization.
Utilizing CRM for email marketing and social media makes it easy to stay in front of your customers and leads. It also means that when someone asks a question via social media, you’ll be notified immediately and can quickly take action to address the concern. Thirty-seven per cent of B2B buyers ask questions on social media sites when looking for answers. Integrating social network accounts allows for businesses to engage with prospects and customers all in one system and provide excellent customer service.
It’s crucial for all employees to be trained on CRM from day-one so that accurate information is inputted to the database. When all employees are using CRM to record customer interactions, then others can serve each client with the knowledge from previous interactions, making it a faster and more efficient way to work. Internal collaboration makes your team stronger, and subsequently, benefits your customers. Collaborating your CRM with other tools is also powerful. With Dynamics CRM, you’re able to integrate other effective tools to enhance sales, communication and marketing. Use them anytime, anywhere, on any device.
Use the power of Microsoft Social Engagement to optimize your reach, spot trends, source interest, and receive alerts on how people are feeling about your brand, product or service. With Power BI Cloud-based analytics, you can have a single view of your most critical business data so you can monitor the health of your company and spot trends using a live dashboard.
These days, business owners are shifting gears and turning to the Telax Cloud contact center solution– offering flexible Cloud-based solutions that dominate conversations and increase customer retention. Telax allows you to sync customer information to your CRM, helpdesk, chat and e-commerce platform through contact history, automated workflow, computer telephony integration, contact lists, and data import and sync capabilities.
CRM is the ultimate organizational tool. Staying organized as a business means increased efficiency and effectiveness. All your business needs, from servicing to marketing and selling, are executed in the same organized and systematic way; access vital customer information anytime, anywhere. If you are out at a sales meeting, you can access CRM data through your smartphone or tablet and have all the information you need right at your fingertips.
Being able to track a customer’s lifecycle and integrate other metrics and tools makes life a lot easier for employees. Having a reliable software system to organize all your contacts, files, marketing campaigns, social media, opportunities, sales and more, will help you keep your sanity and help your business grow. Staff can fill the sales pipeline with qualified leads and track the entire process from acquiring prospects to winning business, and then maintain that business. Your communication is no longer siloed regarding customer management.
Having all staff members on board using CRM to its fullest potential creates a productive team. Combining optimal customer service, organization, collaboration and communication means higher profitability for a company. A Nucleus ROI case study on CRM says that the average returns from CRM have increased since 2011, from $5.60 to $8.71 for every dollar spent. And per sales person, a CRM can increase revenue by a 41 per cent.
Customer retention is also improved by leveraging a CRM system. According to a global customer service study, three out of four customers say they spent more money with a company because of a positive customer service experience. Your primary goal for implementing a CRM system should be to improve customer service to create strong brand loyalty and increase customer value.
Not every company has the same functionality needs for a CRM, so be sure to do your research and identify what specific customizations your organization requires for optimal performance.