Why has it become a must to invest in a CRM system?

Why has it become a must to invest in a CRM system?

It is tough to find customers for your business and it is tougher to retain them. The question is: how to make them an important component of our company? This is where Customer Relationship Management comes into the equation. I think we all have heard about CRM at some point or the other. So, what exactly is this CRM? Customers are critical to businesses as their survival depends very much on the former. The manner in which you are managing the customers determines the success of your business. Hence, CRM is all about managing your customers efficiently for the betterment of your business. These days technology has grown by leaps and bounds and you have software for every solution. The same holds true for CRM as well.

6 CRM benefits to make your customer relationships better

The CRM software is a potent tool used to manage your relationship with customers in an effective and organized way. An ideal customer relationship management software is well equipped to streamline customer information by collecting them at a centralized location to offer a clear view of all the customer data. Through such information it becomes easier for you to reach out to customers anytime via right channels. There are several benefits of having a CRM system in your organization. Let us understand them one by one.

  1. Offers a potent KYC tool

At banks you have Know Your Customer (KYC) option to maintain good relations with customers. This helps banks to know everything about their customers as all the information about the latter will be stored in a computer. This facility of KYC is what you get if you have an efficient CRM system as the information stored on each contact in one place serves the purpose of a robust communication tool. A CRM system offers the business a very competitive edge. Apart from full name, email address, telephone number, postal address, etc, it also offers good insights such as a contact’s vocation, his or her ties with other contacts in your database, the language spoken etc. Armed with such information it becomes convenient to indulge in personalized communication.

Convenient segmentation

Everyone aspires to do business or communicate with a perfect audience not with a faceless soul. This can be facilitated by dividing contacts (customers and prospects) into target audiences. As for segmentation, CRM is a powerful tool as it facilitates data break down into categories and criteria, simplifying the process of creating focused lists. With such a segmented list you can run a customer-specific campaign and assess your sales process. By understanding your target audience, you can easily customize your offer and tactics in line with the needs of your customers.

3. Aids in retaining customers

Retaining the customers is more important than finding new customers. This is an important job of every business. CRM is an expert in customer retention as it assists you in reminding you about your appointment or dispatching follow up mails. Also, the CRM system aids you in contacting customers who have not been in touch for a while.

Better anticipation of needs

If you know what to expect then it boosts your confidence. The same holds true for businesses as well. It becomes easier to deal with a customer especially if you have been following their buying pattern. The buying pattern can be conveniently had with an efficient CRM. Further CRM helps in offering better customer service. The easy access to the communication history facilitates in offering help to customers on time. So, CRM has many benefits.

Takes communication to a different level

In business, it is not appropriate to make customers wait. It is better to avoid such a scenario.

A CRM system goes a long way in addressing such problems. It saves your and your customers’ time, by providing a host of customizable, readymade email templates, letters, documents, proposals etc. These can be easily used to establish communication between your customers.

Better protection of data privacy

Data privacy is prone to malicious abuse these days. So, it becomes important to protect the data of your customers. A CRM software with inbuilt GDPR-related functionality is potent enough to safeguard against any attacks. The other benefit of CRM is the time saving potential as GDPR will do everything for you. A CRM system helps in getting your contacts’ consent to store and utilize their personal particulars, send automated notifications to all the latest contacts intimating that you want to store their data.

Conclusion

Never commit the mistake of assuming customers as mere sales opportunities . You might have some incredible things at your disposal but if you treat your customers badly, then there won’t be any takers for your products. That’s why it has become very essential to have cordial relationships with them. And for the same reason you need a CRM as it assists in forging good ties with customers. Also, having a GDPR-compliant CRM system ensures that there won’t be a security breach with regard to data. Hence, a CRM Software Development system is something that needs to be implemented in every organization.

Top CRM Market Statics Which Aids In Exploring CRM Potential

Top CRM Market Statics Which Aids In Exploring CRM Potential

Being in CRM consultancy for more than 10 years , Winklix has deeply experienced market trends and CRM statics . In order to help you out with better understanding of CRM software as well as its benefit and challenges , we have created deep insight article describing it in broader way .

The CRM Market Is Already On Rise

As written by Gartner in their recent reports , CRM market size will reach $ 80 billion by year 2025 . Another major survey on customer engagement platforms by Ovum has also Cleary stated CRM growth by segments . It is expected by year 2022 , marketing automation CRM segments will grow at fastest in comparison with customer service and salesforce automation which will also grow at same time .

SalesForce Will Remain CRM Market Leader 

As per the recent reports conducted by Gartner on CRM market , SalesForce CRM is still achieving top most position acquiring 19.5 % of CRM market share . SAP as per recent reports is acquiring only 8.3 % of the total market share . 

The report given below clearly states that CRM is synonymous with Salesforce for many user and hence it is not only choice as many customers are choosing other solution as well .

CRM Is Must To Keep Ahead In Business Competition 

According to some sources , near about 82 % of the companies are using CRM solution to manage sales process automation and sales reporting . Even Salesforce states in their reports that CRM solution helps increasing employee productivity , customer engagement and retention as well as reap other benefits .

Hence it is more likely for a company to succeed if they are exploring CRM capabilities at its full in comparison with business who deny to use CRM .

Success CRM Implementation Will Give High ROI

According to FinanceOnline , the ROI on CRM software implementation is from $ 2.50 to $ 5.60 for every dollar spent on software solutions . Modern CRM is cloud based solution which given various kinds of benefits and training for IT professionals which thereby increases : 

  • High employee productivity 
  • Increase number of sales leads and follow ups 
  • Increase conversion of leads 

Most Of The CRM Users Prefer Cloud Based Delivery Version   

As per the recent survey conducted by SelectHub’s CRM buyers survey , majority of the respondents prefer cloud delivery model to on premises one . It was only 43 % of the user which treat offline and cloud CRM at equal place .

Offline or on premises CRM requires complex infrastructure as well huge investment which is most prominent reason why many tend to hesitate choosing on premises offline CRM .

CRM Is Being Used By Service , IT and Manufacturing Companies 

As per the recent survey by SelectHub’s CRM user survey , almost 32% of the users of CRM is from service industry . Another major share of 13 % is acquired by IT and manufacturing companies and retailers companies are taking market share of 18 % .

CRM Adoption Improves Sales Performance 

If you are an enterprise and your CRM adoption rate is less than 75 % , then you are more likely to have poor sales performance as stated in sales operation optimisation study by Miler Haiman group .Lower adoption in turn leads to poor management , follow ups with clients and thereby lower win rate . Thus in case you want to increase your sales , always try to ensure that your organisation is equipped with CRM solution and at the same time your user must get hands on on user training and release notes on custom built CRM functionality .

Manual Entry And No Third Party Integration Are Main Obstacle To Successful CRM Usage

The majority of respondent in state of inbound reports by HubSpot stated that main reason for failure of CRM solution is manual data entry and lack of integration availability of using the system . That’s why industry hesitate to implement CRM as a separate system as it brings hesitation to its user and thereby hamper the overall adoption of CRM .

Conclusion 

A CRM system which in turn support sales , facilitate customer management and give a hands on marketing activities is must for every organisation in todays world if you want your organisation to be ahead in this competitive world . But if you are thinking of that purchasing of CRM can immediately solve your problem in every way and your job will end there , then that will never going to happen . In order to help sales , marketing and customer service team to explore the most out of CRMs , it is viable to avail customisation , integration and user adoption service from some reliable CRM software provider .

6 Ways How CRM Can Improve Your Marketing

crm software development

It is a general trend that when people think of implementation of CRM for their enterprises , they think of sales . In fact people buy CRM to increase their sales , irrespective of the fact that CRM has many other parts and one of the important part is marketing .

If CRM has been implemented properly it can benefit organisation in number of ways namely improving lead quality , maintaining customer relationship by better communication , lowering the manpower cost and enhancing customer satisfaction .

For a CRM to be implemented properly which can in turn benefit you in number of ways , you must hire a CRM software development company with proven track records and years of experience .

Since this blog is limited to how CRM can improve your marketing tactics ,  let’s quickly looks in which it can be achieved .

It Makes Relationship With Sales Stronger 

The leading salesperson in any organisation will regularly follow up on the leads they receive from marketing tend around the clock . But as per the recent reports the fact is 10 % of the organisation has no matured lead management system compared to 25 % that are actually using lead management process .

Regular following up with the leads gives marketing team confidence in lead who are more likely to be converted into deal because and only because they are getting following up rapidly , and therefore more likely to get converted .

At the same time it also allows salespeople and marketer to easy track the progress of sales lead , thereby allowing efficient carrying out of task between departments and thereby efficiency managing campaigns of sales and marketing .

It Allows Filtering Customer On The Basis Of Value 

Understanding customers is one of the important factor for carrying on successful marketing tactics . CRM enables you to extract meaning from database so that you can get insight for required customer information and interest that can aids you to join marketing dots .

CRM also helps you to filter database of customers on the demographics , amount of revenue generation and cost of establishing and maintaining relationship with customers .

It Automates Email Marketing By Integrating With Email Campaign 

Carrying on email drive is more likely to increase your revenue by 18 % which comparing it with broadcast email . Many marketers also believes that email is the primary channel for lead generation . CRM system automate email marketing campaigns which allows right person to be connected on right time which in turn generates greater return on investment .

It Allows You To Automate Part Of Your Marketing 

Automatic feature in CRM allows to you carry out your marketing more efficiently . For instance , automatic code generation , capturing data online , taking input of data in CRM all can happen with ease .

CRM Allows To Track Performance 

Right from getting the leads from different sources to following up the entire sales cycle , you can keep the track record with just a single click . At just the press of the button you can view reports , track progress of leads and also pipeline revenue in real time .

This all automated process helps you in successful initiatives , reduces wasting of resources and build a virtuous feedback loop .

CRM Helps To Manage Marketing Suppliers 

CRM features is not only limited to customer focused approaches , but at the same time it also aids you in developing closer relationship with your supplier . Web based CRM software allows you to store data on your CRM platform which keeps all details at one place , allowing to track product pricing over time , sales trends followed by customer and more .

This reduces cost , optimises timescale , and over time drive up relationship with customer and suppliers to next level.

Looking for CRM software development or customisation , hire Winklix developers to get the best of benefits arising out of it .