In this digital age, the importance of retaining loyal or existing customers is indisputable in every business and customer connection should be put first. That’s why every business knows that every new customer should be of the utmost value.
Yet, if you have thousands of customers each day, will you be able to handle all of it? So to optimize time, most businesses acquired some help from the IT Industry to make a revolutionary technology and they called it CRM.
From the acronym itself, CRM stands for Customer Relationship Management
It’s easy to understand, right?
CRM is not just the application of technology. But it is a strategy to develop stronger relationships with existing customers and learn more about their needs and behaviors. That’s why it is more of a business philosophy than a technical solution in dealing with customers effectively and efficiently. Still, a successful CRM still relies on technology optimization.
A CRM can be achieved by:
- finding out about your customers’ purchasing habits, opinions, and preferences
- profiling individuals and groups to market more effectively and increase sales
- changing the way you operate to improve customer service and marketing
A CRM helps a business to recognise the value of its customers and capitalise on improved customer relations. The better you understand your customers, the more responsive you can be to their needs.
Why You Need a CRM
Benefiting from CRM is not just a question of buying the right software. You must also adapt your business to the needs of your customers. This might involve a considerable time and huge investment, however there are many potential benefits. Such as:
- identifying which of your customers are profitable leads and which are not
- increased sales with better precision by anticipating needs based on historic trends
- identifying needs efficiently through understanding specific customer requirements
- cross-selling of other products by highlighting and suggesting alternatives or enhancements
With all these benefits in mind, a great CRM can enhance customer satisfaction and retention to ensure that your good reputation in the marketplace continues to grow. You can improve profitability by focusing on the most profitable customers and dealing with the unprofitable ones in more cost-effective ways.
It can also increase the value of your existing customers and reduce the cost associated with supporting and servicing them. Overall, it can increase efficiency and reduce total cost of sales.
Drawbacks
Now CRM as a requirement might’ve already been one of the top priorities on your list. However, you may already have it but it may not be the right one for your business. There are different types of CRM’s out there and it’s very easy to purchase and set up one for your company. So you have to be aware and meticulous in looking if your CRM will put your customers first or else it will lead to dissatisfaction and loss of revenue.
Trying to implement CRM as a complete solution is a risky strategy. It is better to break your CRM project down into manageable pieces by setting up pilot programs and short-term milestones. You should also consider starting with a pilot project that incorporates all the necessary departments and groups but is small and flexible enough to allow adjustments along the way.
It is also necessary that you don’t underestimate how much data you will require, and make sure that you can expand your systems if necessary. You need to carefully consider what data is collected and stored to ensure that only useful data are kept.
Introducing an ALL-IN-ONE CRM Tool
Even with years of accumulated knowledge, there’s always room for improvement. 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 exploit this information.
So with our own CRM, Our clients are given direct access to enable our customers to have real-time tracking and reporting. Konnektors CRM system is authentically designed to help clients manage and nurture new and existing business leads.
Our software provides our clients with a suite of tools to manage the entire sales process, from the initial lead qualification to opportunity management, forecasting, and eventually deal closure.
Clients can also monitor calls and how they are sorted in daily, weekly and monthly ranges. This way, our clients are assured that we are focused on the project.
Konnektors CRM does not need installation and is compatible with desktop and mobile. It is also integrated with email, calendar, and file-management apps that include Outlook, Gmail, and Google Apps.
