CRM (Customer Relationship Management)
What is CRM?
CRM is a broadly recognised, widely-implemented strategy for managing and nurturing a company’s interactions with customers and sales prospects. It is simply the practice of how well, or not so well, you interact with your customers and prospects and learn from the experience. It involves using technology to organise, automate, and synchronise business processes such as sales activities, but also to conduct marketing, customer service, and technical support. At the heart of any CRM driven organisation sits a database driving the activities that make CRM such a valuable tool.
Define and identify your key customers:
By segmenting your customers based on things such as average order value, profit per order, frequency of buying, etc. you can easily identify your “key customers”. You may actually find the ones you currently think are “key customers” are really not as profitable as you thought. It also makes it easier to recruit more customers with the same characteristics as your “key customers” when you actually know who they are. It is proven that the most profitable business comes from your existing customers, rather than continuously trying to find new ones.
Keep track and measure what marketing strategy works for you:
By keeping track of all your marketing efforts, costs, prospects and sales generated from campaigns, you will be able to make judgements as to what marketing campaigns are most profitable and bring you the quickest ROI.
Make your sales people more effective:
A CRM-system puts all the customer details, trading history, service history, etc. at the fingertip of your sales people so they can speak with prospects and customers with a lot more confidence. Customers respond best to people who have their details at hand and can anticipate their needs.
Stay in touch with your customers:
A good customer relationship requires that you stay in touch with your customers, so they do not forget you, be it face to face, telephone calls or e-mails. A good CRM-software package will make this much easier to achieve and measure.
CRM – The BENEFITS for your business:
Gives you a 360-degree view of your customers, allowing you to be aware of recent targeted marketing activities, any interaction with customers including any complaints, their purchase history, their preferences and more.
• Streamlines sales and marketing processes
• Improves close rates
• Improves profiling and targeting
• Improves revenue, loyalty, and customer retention
• Helps you to identify which of your customers are profitable and which are not
• Delivers instant, company wide access to customers’ history
• Allows you to identify new selling opportunities
• Gives you a central resource for business communication regarding customer transactions
• ...and lot more.
Do you really need CRM? Answer these questions and you will know.
Read about SuperOffice CRM here.