The old alphabetical truth in business that customers are the thing that makes a company possible is more relevant than ever. Nowadays, when information floods us from all directions, it is extremely difficult to win and hold the customer’s attention. And if we can win them once, we are just beginning the great battle to build their loyalty and commitment to our brand.
CRM, or Customer Relationship Management, is a business strategy or business practices aimed at managing customer relationships. CRM software is the platform through which a business manages these relationships.
The CRM system is essentially a customer database, which stores rich and detailed information about current and potential customers, partners, suppliers, and with the help of which facilitates and optimizes the activities of communication with customers and customer service, sales, and marketing.
CRM systems are fundamental for analyzing customer information and improving the interaction between the individual business units in a company. Let’s take a look at the most obvious advantages that prove the importance of such tools.
When we talk about the information that is delivered by CRM systems, we must also keep in mind how much it costs businesses to combine information about their customers from different channels. Excel spreadsheets, notebooks, call records, email communication, and other methods of storing customer data – all this colorful collection of information in one place in a form that allows a complete view of a customer.
This is the so-called 360-degree view, which is one of the most basic advantages of a good CRM system. A good system also helps to reduce the likelihood of making mistakes.
Perhaps every business can give an example from its practice of missing customers due to shortcomings in the organization of its sales process and especially customer service. For example, a merchant forgets to make a call, an email is not received, or the notebook is mysteriously lost.
These things happen and they bring losses. When your information is in the cloud and your team has the ability to update it constantly, some risks are completely eliminated and others to a significant extent.
Last but not least, it is important to mention that the centralization of the customer list in a system that can be easily monitored by the management significantly reduces the possibility for someone to easily copy and use it against the interests of the company.
People are less effective when they are out of the office because they usually do not have access to much of the information they need. Many processes rely on the intervention of a small group of people or even just one person.
For example, you need some information, but you are also unlucky that your colleague or manager is not available in the office. Such situations have the potential to lead to losses or lost profits for the company, and this problem can be solved so easily with a CRM system.
The opportunity for a company to design its products and services to fit the needs of its customers can be the key to future success. For many small and medium-sized enterprises, this is an effective way to compete with the ‘big fish’ and achieve sustainable growth.
A good CRM system can help you capture many details about the behavior and preferences of your customers so that your product can be fully tailored to their needs, and marketing activities can be maximally customized according to customer preferences, which will increase their efficiency.