The concept of CRM has been around for a long time. Back in the days, maintaining details of your customers was considered as CRM, but today CRM has got a broader meaning. In today’s world, a CRM tool is used to generate leads, manage leads, collect information, networking, and get it linked to other operations like marketing. Let’s see what are the benefits/ advantages of using a CRM tool:
1. CRM is a business strategy:
Your CRM has the potential to be a central processing unit (CPU) for your organization. In fact, if introduced and applied correctly, one of the most significant benefits of having and using a CRM in your business is being able to fully realize and map the true value of your clients as company assets.
The information collected by the CRM tool becomes a real asset in itself. If correctly used, your CRM tool will always keep you one step ahead than your competitors. For example, your CRM integrates with social media websites like LinkedIn, Facebook and Twitter and collects information about the customer about his likes and dislikes. The same information will help your sales team to build the relationship with your client.
2. Save Time:
A CRM automates a lot of the usual time-devouring tasks, giving salespeople more time to do what they are actually paid to do: namely, sell to prospects. More time spent in front of potential customers (instead of shuffling paper) means more sales, which makes everyone happy. More than that the sales person would be very happy to use his time elsewhere and be productive.
3. Improved Customer Relations:
One of the prime benefits of using a CRM is obtaining better customer satisfaction. By using this strategy, all dealings involving servicing, marketing, and selling your products to your customers can be carried out in an organized and systematic way. You can also provide better services to customers through improved understanding of their issues and this, in turn, helps in increasing customer loyalty and decreasing customer agitation.
4. The Increase in Sales:
By using a CRM strategy for your business you will be able to increase the revenue of your company to a great extent. Using the data collected, you will be able to popularize marketing campaigns in a more effective way. With the help of CRM software, you can ensure that the product promotions reach a different and brand new set of customers and not the ones who had already purchased your product and thus effectively increase your customer revenue.
5. Maximize Upselling and Cross-selling:
A CRM system allows up-selling which is the practice of giving customers premium products that fall into the same category of their purchase. The strategy also facilitates cross selling which is the practice of offering complementary products to customers, on the basis of their previous purchases. The details thus obtained will be stored in a central database, which is accessible to all company executives. So, when an opportunity is spotted, the executives can promote their products to the customers, thus maximizing up-selling and cross-selling.
6. Better internal communication:
Following a CRM strategy helps in building up better communication within the company. The sharing of customer data between different departments will enable you to work as a team. This is better than functioning as an isolated entity, as it will help in increasing the company’s profitability and enabling better service to customers.
7. Optimize Marketing:
With the help of CRM, you will be able to understand your customer needs and behavior, thereby allowing you to identify the correct time to market your product to the customers. CRM will also give you an idea about the most profitable customer groups, and by using this information you will be able to target similar prospective groups, at the right time. In this way, you will be able to optimize your marketing resources efficiently. You can also be ensured that you don’t waste your time on less profitable customer groups.
If the whole sales team is using the same CRM, then it’s easy to share that information as needed. Most CRMs allow you to develop templates for phone scripts or frequently used emails, and the team can share these templates. Many CRMs even support mobile devices, so you can access all that information from your iPhone or enter a few quick notes right from the prospect’s office.
9. Listen to your prospects!!!
If your CRM tool is integrated with social media websites like Facebook, LinkedIn, twitter and YouTube you can listen to your customers or prospects about your brand. This can help you generate quality leads for your team.
10. Simplified Goal setting:
By pulling all the data together into one place, CRMs make it easy to track performance both within and across the team. CRMs can also bring all this information together into reports that help with forecasting. Having this level of analysis available makes setting the next period’s goals much easier… and makes it more likely that these goals will align with reality.
Bista is ERP Consulting company with decade plus of expertise in ERP’s, CRM’s etc. We offer multiple ERP solution like Odoo, NetSuite & Optomeat. As of our expertise every ERP solution have the best applications and modules available like Odoo Apps. Every ERP offers different modules customizable, benefits of crm vary from ERP to ERP.