How CRM Technology can improve your business performance?

Hi! Since we have embarked on the journey of giving tech discourses, this one is for businesses who aren’t exactly cupid in the name of client retention.

First question, which department retains a client and helps to build rock-solid client relationships? Sales department, Customer relationship department, several names, right. And how they are using technology to improve what they do? That’s CRM.

Now, the last question, how these CRM systems enable a business to improve its performance?

That’s what this blog post about. We have outlined the benefits of using a CRM software which in turn helps you to boost your business performance.

CRM systems allow to engage positively with more and more customers and remain competitive in the contemporary cutthroat business environment. These systems are often equipped with tools for interaction monitoring, contact information recording, as well as customer activity tracking. CRM software is known to improve lead generation and customer retention. The automation capabilities offered by CRM software solutions is uncanny. Users can easily slash the time spent on tedious manual tasks and concentrate on other priorities.

Apart from customer experience, companies can utilize this platform for contact management, lead nurturing, sales forecasting, and email marketing. The importance of quality customer service is known to everyone who owns a business. A satisfied customer helps you in increasing revenue and reducing customer churn for your business.

CRM is a straight jacket customer relationship savior for the businesses of varied sizes and types. It helps the businesses to forge robust relationships with their customers along with streamlining sales workflows. You can easily accelerate your sales processes with such holistic software that covers the sale processes end-to-end.

To keep your customers satisfied, you should optimize your customer relationship management quite frequent as this is classified as the most crucial activity for businesses these days. Here we are breaking down 5 benefits that you will enjoy while using a CRM software.

1. Better Sales Performance

We have already mentioned this as the most classified and lucrative benefit of having CRM software on board. The CRM software enables you to scale down time wasted in following prospects and follow concrete quality leads only. This way your sales cycles are reduced drastically which results in improved win rates. Fascinating! Right?

Best CRM also allows you to check customer buying histories and recognize upsell opportunities, potential leads, and repetitive customers. Also, you can identify your most loyal customers. With the list in your hand, you can easily create a customer reward system which is also facilitated by the CRM. Last but not least, you can create a personalized communication program to enhance engagement and conversions with the CRM. In case, there is some anomaly in the handling the customer like unanswered email or call, it can be easily detected and addressed as well.

2. Increased Efficiency and Profitability

Welcome to the world of operational efficiency with CRM software. With customers calls pouring in about complaints, grievances, or assistance, a CRM software helps a sale professional to quickly provide desired assistance to the client. It is as easy as Googling facts, all you need is a keyword or in this case a product serial number. With a product sequence number, the officer can quickly access the logistics database for defective batches. Meanwhile, the logistics department is intimated to make the desired replacement and finance department is computing and giving effect of necessary cost implications.

Additionally, customer engagement such as calls and emails can be tracked for department relevancy and can be rerouted to the right department for immediately providing the desired assistance. This way best performing customer care executive can be identified and rewarded as per their performance.

There are other forms of efficiency as well which include a dramatic reduction in the costs incurred for training new employees with user-friendly CRM tools which are deployable in minutes.

CRM integrates the main business processes like sales, inventory, and accounting for offering a seamless pipeline and avoiding a doubling of tasks. All the events, contracts, projects and underlying products are integrated into single CRM software for a smooth turnaround.

3. Faster Decision-Making

With CRM, you can cull insights from on-location and real-time data. This enables a manager to act immediately in order to react to market trends. Also, it offers an advantage to the enterprise where it can fine-tune its strategies and tactics right away to leverage a market opportunity or avert a foreseeable loss.

For instance, inventory department updated low inventory level in the CRM. This is an indication for prospective purchase orders, you can gauge the market for low prices to place bulk orders and save inventory costs to a great extent. Another example is with the input of the sales department, you can classify your customers into groups. Based on that, personal engagement can be offered to your loyal and repetitive customers. Quick discounts and rewards can also be offered based on the database.

4. Robust Data Security

CRM facilitates a single channel operation which means you can integrate your finances, capital infrastructure and human resources in one database. This lessens the possibilities of probable breaches in the system. In the best CRM systems, you can keep tabs on which employee can access which data and ensure only authorized employees to access the database. The data security remains intact this way.

5. Optimized Mobility

With mobile technologies, field executives can easily access the remote database for purchases, customer personal information, product information, and delivery schedules. Mobile CRM has increased sales force productivity by 26.4%. Sales mobility is an essential factor for improvement in sales force productivity. With CRM, a sales executive can access the details on spot and make decisions instantly.

Also, the sales cycle can be cut down tremendously with the help of CRM software. For instance, a field executive can immediately receive a quote after pitching the prospective client and entering his details. This support is provided by the back office which immediately processes the query generated by the field executive and consolidates a quote on that basis.

There are several other field applications for mobile CRM like checking customer credit limits, checking real-time inventory, notification for out-of-stock items and speeding the approval cycle from minutes to days.

Thinking of getting your own customized CRM software? We have a set of highly-skilled professionals in our team who hold expertise in customized CRM development. Drop in your contact details here and our executive will get back to you shortly.