Customer Relationship Management
Customer Relationship Management (CRM) is a game changing tool for all types of business, it is is a technology for managing all your company’s relationships and interactions with customers and potential customers. The goal is simple: Improve business relationships to grow your business. A CRM system helps companies stay connected to customers, streamline processes, and improves profitability.
When people talk about CRM, they are usually referring to a CRM system, a tool that helps with contact management, sales management, agent productivity, and more. Business Objects includes a CRM fully integrated into the system and can be used to manage customer relationships across the entire customer lifecycle,. Customers are the backbone of your business and as such should be nutured. A fully integrated CRM will ensure the advertising spend on gaining new customers is maintained thus maximising spend. Once you have your customer it is vital to keep them. It may also be used for other such communications such as product releases and recalls.
What does a CRM do?
- Actively tracks and manages customer information.
- Intelligently captures customer emails.
- Simplifies repetitive tasks so you can concentrate on sales and leads.
- Delivers instant insights and recommendations.
- transpearantly runs loyalty programs
Why CRM matters?
- CRM helps you ditch clunky processes and manual effort so you can get on with business.
- Gives your customers a personalised experiance, you are advised at point of sale of purchase history, birthdates points of interest etc.
- One place to store all customer information means your details and conversations are always personal, relevant, and up to date.
If your business is going to be successful, you need a strategy for the future that’s centered around your customers, and enabled by the right technology. You have targets for sales, business objectives, and profitability. But getting up-to-date, reliable information on your progress can be tricky. How do you translate the many streams of data coming in from sales, customer service, marketing, and social media monitoring into useful business information?
The CRM system can give you a clear overview of your customers. You can see everything in one place — a simple, customizable dashboard that can tell you a customer’s previous history with you, the status of their orders, any outstanding customer service issues, and more. You can even choose to include their likes and dislikes. Marketers can use a CRM solution to manage and optimize campaigns and lead journeys with a data-driven approach, and better understand the pipeline of sales or prospects coming in, making forecasting simpler and more accurate. You’ll have clear visibility of every opportunity or lead, showing you a clear path from inquiries to sales. Some of the biggest gains in productivity and in making a whole-company shift to customer-centricity can come from moving beyond CRM as just a sales and marketing tool, and embedding it in your business — from finance to customer services and supply chain management. This helps to ensure that customer needs are at the forefront of business process and innovation cycles.
Running a business without CRM can cost you real money.
More administration means less time for everything else. An active sales team can generate a flood of data. Reps are out on the road talking to customers, meeting prospects, and finding out valuable information — but all too often this information gets stored in handwritten notes, laptops, or inside the heads of your salespeople.
Point of Sale data can get lost, promises are not followed up on promptly, and prioritizing customers can be a matter of guesswork rather than a rigorous exercise based on data. And it can all be compounded if a key salesperson moves on. But it's not just sales that suffers without CRM.
Your customers may be contacting you on a range of different platforms — including phone, email, social media and in person at point of sale, following up on orders, or contacting you about an issue. Without a common platform for customer interactions, communications can be missed or lost in the flood of information, leading to a slow or unsatisfactory response.
Even if you do successfully collect all this data, you’re faced with the challenge of making sense of it. It can be difficult to extract intelligence. Reports can be hard to create, and they can waste valuable selling time. Managers can lose sight of what their teams are up to, which means that they can’t offer the right support at the right time — while a lack of oversight can also result in a lack of accountability from the team.