As a business grows, the customer management processes becomes trickier, challenging, more complex and demanding. It becomes difficult to offer quality customer support, gather valuable insights, maintain up-to-date information about customers etc. So what helps you manage all this information? CRM it is. CRM stands for Customer Relationship Management. It is an indispensable aspect of businesses today.
So why is CRM software so popular and what is its importance in your business?
- Complete Customer History
It helps your employees immediately see what’s already been done by their colleagues.
· Segmentation for target customers
Using CRM, you can filter your contacts to get a targeted list of customers who are most likely to be interested in upcoming special offers or new products. By segmenting your customers you can significantly increase engagement and return on investment.
· One platform for all data
It provides employees with a full history of customer interactions and complete customer data.
· Get actionable metrics and insights
It gives you the power to track metrics that provide valuable insights into your business like:
- Customer retention rate
- Lifetime customer value— determines what a customer is worth to you based on their spending and the length of time they’ve stayed with you
- Leads by different sources — tracks inquiries to show how marketing channels have helped to attract visits, leads, and customers
- Metrics give comprehensive insight into sales processes and company efficiency, allowing you to build a successful customer experience.
- Automate everyday tasks like filling out forms, sending reports, and addressing legal issues are all ancillary chores that are vital for managing your sales pipeline.
- Increase your conversion rate
Using this CRM functionality, you can prevent shopping cart abandonment (a customer visits an online store, places items in their cart, but doesn’t complete the purchase) by ensuring your customers that someone is always there to assist them.
- Improve the customer experience
Customers’ time is valuable, so you must resolve their issues quickly. With a CRM, your sales team, armed with client history, can provide a solution within minutes. The right system syncs with mobile devices anywhere, anytime via the cloud, so the entire team is on the same page and has the most current information at their fingertips. With a mobile CRM, you can provide a better customer experience including by sharing the latest information on products, deals, and contracts and providing quick answers to customer questions.
CRM technology has been widely embraced throughout the business world. This system will ensure your company takes care of who matters most in your business, the customer!