What Is Customer Relationship Management?
Customer Relationship Management is the tool that effectively manages the relationship between the Customer, prospective clients, and the company. Customer Relationship Management encompasses several tactics and techniques to manage the customers. For every business, whether they are small or, big customers are essential. In most cases, customers are like a king.
In short, we can say that it is an art to manage the relationship with customers. These strategies will furnish healthy relationships. Organizations must ensure that customers are satisfied with their products and services. If one customer is satisfied, then ten new customers will automatically generate. However, one dissatisfied Customer will lose many customers.
- 22% of salespeople say they don’t know what CRM is.
- 40% of companies don’t use CRM at all.
- 47% of CRM users say CRM technology has a massive impact on their customer satisfaction rate.
- 88% of service teams found gaps in their technology solutions (including CRM software) during the pandemic.
- 77% of agents say their job is more strategic and requires more data than it did pre-covid.
What CRM Software Can Do For Your Business
Center Business Growth Around Your Customers
When your business enters the phase of rapid growth, it can be easy for valuable leads to fall through the cracks, after all, friction is a natural result of business growth.
An all-in-one CRM platform can eliminate that friction because it’s built with your customers and the customer experience in mind, in fact, it centers everything you do around your customers.
Align Your Sales, Marketing, And Service Teams
Cross-team alignment is integral to the success of your business. This alignment (specifically, the alignment between sales and marketing) helps your team streamline all stages of the buyer’s journey.
In doing so, internal teams will be able to share critical data and customer information so they can work as a cohesive unit. As a result, customers will have a seamless and consistent end-to-end customer experience that makes them want to remain loyal to your brand.
Automate Daily Tasks
CRM systems automate other day-to-day tasks, speeding up your time-consuming but necessary work. CRM automation may include data entry and contact record updates after every interaction, as mentioned above, as well as:
- Follow-up communication
- Email sequences
- Sales workflows (e.g. unenrollment trigger workflows, deal workflows, quote workflows)
- Chatbot conversations
- Lead-to-rep assignment
- Lead nurturing campaign
- Campaign analytics
Report On The Metrics That Matter
CRM systems make reporting on and analyzing your processes and pipeline simple. The reporting features within a CRM can be customized (such as your dashboards) to help you analyze the metrics that matter most to you. This allows you to identify areas of opportunity and growth to create better customer experiences.