The purpose of a business is not to look for clients only but also finding ways to retain them. While there are many ways of doing this, CRM has proven to be a surefire method.
So, what is CRM?
CRM stands for customer relationship management. It primarily manages all of your customers’ information from one location and goes all the way to solve your revenue fluctuations. The primary goal is to help you reach your sales targets faster.
In this short guide, we shall have a look at how you can use CRM systems to take your business to another level.
Why You Need to Incorporate CRM to your business
A study by walker report pointed out that by 2020, customer experience will be the unique selling point of a product and not the services offered by the product. In support of this, 86% of customers will be ready to part with more cash when they get better customer service from a business.
This means that without CRM, the future of your business is bleak. Why? You don’t have better ways to boost your sales pipeline, and other companies will eventually throw you out of the competition. It’s probably the reason why 53% of top-performing companies have invested in these systems.
When starting your business, a simple excel sheet may work out perfectly. Your customer base at this time is small, and the excel sheet helps you to take a few notes on what the customers want.
Nevertheless, there are still some signs that will show that you need a CRM system for your business.
- If you don’t have credible sources of information
- Doing analysis and reporting for your sales team is hard
- You don’t know how your employees associate with your customers
- You don’t have a platform to access valuable customer data when needed urgently
Types of CRM
Your business has different divisions. For a startup, a kind of CRM may perform all the duties. But for a more developed business that wants to record better ROI, you have to incorporate these three types.
1. Contact CRM
These are the cheapest CRM tools you will come around. They are focused on customer relationship management and tend to find personal information about your customers.
Some of the data it collects include your customers’ birthdays, their position at their places of work, and their hobbies. These questions add a personal touch that promises a long-lasting connection.
Contact information helps you to understand your customers’ personal goals and preferences. With this data, you can come up with unique ways to handle all your clients so that they feel appreciated.
2. Marketing CRM
With all the information of your customers in one medium, you can leverage on this priceless information from a marketing perspective. It’s what a marketing CRM does. It handles your customers from a marketing focus to help you make more sales.
The marketing CRM may appear similar to a contract CRM, but it has a few unique tools that assist in automating workflows. For instance, the app detects a lead that has shown interest in your products by continuously opening your emails. The sales team can then spring into action and make the prospect become an actual buyer.
3. Conversation CRM
As the name hints, this CRM system creates a conversation with your customers. It tends to replace the many emails that don’t bring results.
While it still uses the email exchanges and phone calls between your clients and your team, it focuses on their actual communication. As the business owner, you can then CC on the app and organize the conversation into customer profiles.
With this information, you can see what everyone says and know how to handle them to avoid miscommunication that may take place in the future.
How CRM Boosts your Sales Pipeline
CRM does more than just taking care of your customer data and bringing them into one cohesive unit. The systems are the perfect way to keep customers engaged.
While doing this, it reduces a company’s marketing cost by 23%. Why? Most CRM’s have been integrated with marketing tools. They can create email campaigns, advertisements that keep the customers up to date, and moving.
As the chief administrator of your business, you need more time to search for ways to increase your ROI. However, this can’t happen if you don’t have a CRM system. You will find yourself doing tasks that can be combined with the click of a button.
Apart from these, CRM will ease your follow-up process, create healthier pipelines, optimize team performance, and help you measure the growth of your business.
Now that you’re familiar with CRM systems, your business is ready to adopt one.