If you want your business to be successful, you need to establish and maintain long-lasting relationships with customers. You need to understand their needs and be able to personalize the consumer experience. Tracking this information seems easy when you first begin and you only have a few customers, once you start growing, you need a reliable database to track your clients' data including their comments and suggestions on your products or services and their preferences. Modern technologies have already solved this problem for you, your team can now choose from a variety of CRM products, tailored for your specific requirements.
The term customer relationship management (CRM) refers to an organization's principles, practices, guidelines, and systems for customer interaction and support. The CRM includes direct interactions, sales, services contracted, needs, and sales forecasting plus customer behavior and trend analysis.
You probably see some obvious benefits of CRM. A CRM system helps you navigate the steps of building a decisive customer relationship. The right software can lead your customer service representatives step-by-step through the customer interaction process, prompting them to make note of their responses. It integrates all communications from emails to notes, from telephone calls to social media posts, so you have one point of reference for all information from every customer. Three main areas of CRM technology:
You may find an integrated solution that uses all three options or you may mix and match, according to your business requirements. The decision you make is very important because it is directly related to your company's performance, happy customers, and vendors. Proper implementation of a CRM system helps you manage the customer lifecycle so you discover new prospects by targeting and re-targeting them based on recommendations and suggestions, level of education and interests, past purchases, post-purchases activity, and more.
Amazon, Apple, and Coca-Cola are three great examples of companies taking advantage of CRM and making consumer's data work for them. Amazon would probably never become a leader in e-commerce without utilizing a CRM. Its infrastructure uses customer data on the fly to personalize the user's experience by suggesting products similar to their searches or their interests. All sales and search histories reside on the individual's account providing purchase and shopping tracking data. Based on this essential information, the company constantly improves the effectiveness of marketing campaigns and engages supportive tactics and tools such as email campaigns that remind shoppers of uncompleted purchases. Enhanced one-click checkout process speeds up purchases, and accelerate the quality of user's experience.
No doubt, Apple's CRM helped the company grow rapidly. When you purchase an Apple device, you must create your unique Apple ID to register it. Your Apple ID links every Apple service and device you use or purchase – Apple iCloud, App Store, Apple Music, Apple iMessage, FaceTime, etc. Everything you do gets synchronized and saved. The CRM then provides custom recommendations that help you determine items you would most likely consider to purchase.
Coca-Cola uses its CRM to foster collaboration plus efficiently resolve customer-related obstacles. The CRM system helps the staff of Coca-Cola identify problems before they grow large by monitoring customer behavior through social media, direct communications, and purchasing data. Mobile apps let the Coca Cola team access company's information from any place or device and rapidly create, fulfill, update orders, and streamline workflows.
The best CRM systems have a few things in common. Each provides information in digestible reports that support management in the decision-making process. The software assimilates the information from different sources in one place and synthesizes it into a useful format. Experienced managers can combine in-depth CRM information and their industry expertise to create innovative approaches to enhance overall business performance. A powerful CRM platform includes the following functions:
organizes data for easy interpretation,
prompts CSRs for useful information,
protects against duplicate records,
flags incomplete records.
As a part of the massive software-as-a-service (SaaS) market, CRM technology represents the fastest-growing category of enterprise-software. The major players in the CRM market are Adobe Systems, Microsoft, Oracle, Salesforce, and SAP.
Let's look at a few examples of the top software technologies to find which one fits your business the most.
The top three CRM-industry leaders currently include Microsoft Dynamic 365, Oracle CRM, and Salesforce Sales Cloud. The diverse Microsoft Dynamic 365 combines 200 apps in a cloud-based CRM with an ERP. Its custom workflows and automated smart email responses to customer actions rank among its other features.
Oracle focuses on the three-prong approach of loyalty, marketing, and sales. Marketers love this option for its simplicity in creating mass marketing mailings and e-mailing campaigns. It also automates sales processes and can provide accurate sales forecasts.
Finally, Salesforce Sales Cloud ranks as the most popular web-based CRM. It works in the cloud, so your entire team can access information from any location with Internet. Its top feature is customer monitoring and information tracking that helps develop long and short sales strategies.
The variety of CRM offers reflects the diversity of possible needs businesses might face. A small firm has different requirements than a large corporation. Your best choice matches your growth goals and provides you with tools to make your way to success the most time and cost-efficient, offering new ideas and audiences. A corporation focuses on building customer loyalty, expanding sales, and improving customer service. A small firm usually focuses on sales first, and only then on brand identity.
Chetu helps you explore the key facets of each CRM solution and so can select the right one according to your needs. Our CRM consultants have over 20 years of experience implementing CRM solutions and can help your business grow with the CRM solution to meet your company's objectives.
Chetu, Inc. does not affect the opinion of this article. Any mention of specific names for software, companies or individuals does not constitute an endorsement from either party unless otherwise specified. All case studies and blogs are written with the full cooperation, knowledge and participation of the individuals mentioned. This blog should not be construed as legal advice.
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