We often hear a lot about cloud, sales automation and CRM. Let us understand what CRM benefits your business can derive:
CRM is a proven concept known to businesses. The primary purpose organizations implement a CRM process, is to have better control of their business, reduce turnaround time and develop better relations with customers.
CRM Processes often lead to:
- Increased sales through better timing. As you begin to anticipate needs of the customer, based on historic trends and events, you are bound to be there at the right time and in front of the right person.
- Empowered employees who have access to right information and can make business decisions quickly.
- Identifying needs of the customer more effectively and cater to them promptly.
- Revenue generation through cross-selling of other products by suggesting alternatives and enhancements
- Reports and analytics portraying profitable and non-profitable deals and customers
A well designed CRM process will also enable better marketing of your products or services by focusing on:
- Effective, targeted marketing communications aimed specifically at customers and their needs.
- Offering a focussed and personal approach which directly addresses the customer and also measures the effort and results.
- Development of new and improvised products and services, features in order to win more business in the future.
The following is a list of benefits and advantages a business can avail by having a properly implemented CRM Process. Published by Rapid GPRS, a CRM consulting company.
Ultimately this will lead to:
- Enhanced customer satisfaction and retention
- Increase in revenue from your existing customers and reduction in cost associated with support and service.
- Increase in the overall efficiency and lower cost of a sale
- improved profitability as you begin to focus on the most profitable customers and start dealing with the unprofitable ones in a more cost effective manner
In Parallel, your efforts can be concentrated on finding new customers and expanding your market. With the implementation of CRM, your business will now have a proper marketing process, sales process and customer service process. It is important to understand that customer needs change over time, and technology can make it easier to find out more about customers and ensure that everyone in an organisation can utilize this information and quickly convert into revenues. We certainly cannot deny the fact that ‘the more we know about our customers, the easier it is to identify new prospects and increase our customer base’.