Introduction – Reasons for CRM
CRM software has been around since the 1980’s it has been revived again recently with exciting new solutions coming to the market, especially cloud based solutions. With a diverse history and a unique offering, CRM is the most cost effective and powerful tool to achieve the age old goal of doing ‘more with less’, but what are the Reasons for CRM?
There is no doubt that once a relationship is established customers, clients and stakeholders are less likely to defect and move allegiance, provided they continue to receive high quality service. Both relationship engagement and customer relationship management are used to identify customer groups and to seriously consider the tailored responses required. They allow organisations to tailor messages, calls to action and loyalty.
This is how CRM has taken centre stage. It’s all about the use of your database information, identifying key clients, finding the right people who have the money and identifying where real money is coming in, to work smarter.
The Reasons for CRM and a successful CRM strategy will enable you to :
- Identify and secure more lucrative customers
- Raise customer experience
- Encourage greater loyalty from existing clients
CRM is far more than a sales strategy. It is a customer centric philosophy and thats why the reasons for CRM are far reaching.
The core concept of CRM is relatively simple. For many years, organisations have focused much of their effort on cost cutting and improving efficiency of its staff. In the attempt to streamline processes, organisations often automate elements of back office functions. As more organisations do the same it becomes harder to differentiate and retain clients, sponsors, donors and students.
By managing your relationships with these audience groups it is possible to drive successes as it allows communication to flow both ways. This is vital in these demanding times, which is all about client managed relationships working hand in hand with CRM. Many organisations and businesses rarely understand who their most profitable supporters are or which supporters will help the organisations ultimate success. Fewer still understand if their processes enhance ‘supporter retention.’
CRM solutions will achieve key goals, to retain customers, increase sales and optimise leads.
It is well known that it costs ten times as much to find a new customer as it does to retain an existing one.
CRM will help to keep your clients happy, engaged and most importantly raving fans. It will empower your people to be proactive and responsive with information readily available at any point of contact.
CRM will help your team to tighten the sales cycle. Using CRM will help you to see which opportunities will be the best, the most lucrative and thus your sales team will be able to focus on them to turn them quickly to a sale.
CRM will provide powerful analytical capability
Avoid missing sales follow-ups using tracking, activities and workflows
Find out which customers are not buying and find out why easily
Look at the successful sales and track why they where successful
Who are your best sales people and enable your CRM system to ensure everyone follows the best practices
Find out where the issues are in your processes – where do things get stuck
Understand your prospects and customers by listening to them and using that data in CRM
CRM will save time by using marketing campaigns and email templates.
Deliver targeted marketing collateral to your leads using segmentation rules. Only send them what they need to know or what they are interested in.
Marketing performance can be tracked –what worked, what campaigns were best value for money and created the most business. Even several months or years down the line, this information is readily available.
Report on your marketing efforts with ease using the data from your CRM system.
Used effectively, CRM will help your organisation achieve its long and short-term goals. It will:
- Ensure you’re targeting the right prospects or existing customers using the most effective messages channels
- Help your sales people turn leads into customers & build improved relationships with existing customers to create increased loyalty
- Help you and your teams to make the right decisions based on quality, timely information.
For more information about CRM or to get it working for you and your organisation, call Caltech CRM on 01924507 280.