What Does CRM Mean For Your Business?

What does CRM mean for your business

Customer relationship management has changed unrecognizably since its earliest days of rolodex to cutting-edge cloud based systems. Respectively, the way companies run their businesses has changed as well due to an ever-rising competition and customers’ demand for service of the highest quality. Obviously, back in the day it was much easier to manage a company and relationships with your clients. At best, the company would have had your names written down somewhere with a couple of notes attached. The same goes for competition – there was hardly any. Big companies always outcompeted the small ones. However, the business environment is no longer like this. These days, it is the fastest companies who emerge victorious. Technological progress enables even the smallest startups process huge volumes of customer information at breakneck speed without losing quality of customer service. That is why online CRMs are so popular. CRM systems are capable of automating your key business processes and make your companies better in every way. In turn, your employees will be able to establish a loyal community of customers while consistently increase revenue. Let’s take a closer look at what CRM means for marketing, sales and service teams in your company:

What does CRM Mean in Marketing?

In order to be at the top of their game your marketers need to constantly generate high-quality leads for your sales department via various communication channels. Nowadays, content marketing and email marketing are the most effective lead generation sources. If your marketing team wants to have a better understanding of who their buyers actually are and exploit these sources to their fullest, they will appreciate email marketing and contact management tools. The system creates a detailed profile on each of your contacts for your employees to obtain a 360-degree overview. In addition to the basic contact details, the system stores an entire history of interactions with the customer, their industry and company size and so forth. Add website behavior tracking and you will get a better understanding of your potential buyers’ preferences. That way, your marketing team can build personalized communications. Moreover, advanced CRM systems, like https://www.bpmonline.com/ enable your marketers to stimulate prospect’s interest through automated lead nurturing emails. Web-based CRM enables your marketing team to nurture potential buyers by providing them engaging and personalized content that turns them into leads and then into buying customers. Recent studies suggest that only 20% of leads are willing to buy when they enter your sales funnel. In fact, 80% of leads that sales department deems as “bad” actually make purchases within 24 months. Therefore, it is marketers’ responsibility to utilize lead nurturing tactics to keep potential buyers warmed up until they are ready to make a purchase.

lead channels

What does CRM Mean in Sales?

Productivity is crucially important for sales representatives. Unfortunately, 50% of their time is wasted on unproductive prospecting. Moreover, it turns out that your sales representatives are spending one-third of their time actively selling. The rest of their valuable time is lost countless time-consuming administrative responsibilities that hold your reps from what they do best – closing deals. Implementation of powerful CRM software can liberate your salespeople from tasks like lead scoring, lead tracking, document management, sales forecasting and so forth. Automation of these processes makes closing deals as quick and simple as it can be. All incoming leads, automatically qualified and completed with detailed customer information, are channeled to the right sales representatives.  In addition, your sales team can make the most of their pipeline by establishing automated sales processes. Intelligent CRM systems will adjust your business processes using industry’s best practices, all your salespeople will have to do is following clearly defined guidelines for each step of the sales process. It has been reported that it will help your sales team achieve 18% higher revenue growth than companies without one.

What does CRM Mean in Service?

Flawless customer service is the basis of a winning customer experience. Since customer satisfaction has become an actual business objective, the need to deliver excellent customer support on every stage of customer journey has never been more transparent. Actually, 80% of companies have claimed that they deliver “superior” customer service, however only 8% of customers can agree with this statement. Moreover, 91% of unsatisfied customers are not willing to do business with you after a single bad experience. Statistically, it would take 12 positive experience to win your customer back and make up for one poor experience. At the same time, your customer support agents are expected to deliver competent service regardless of the communication means your clients choose: may it be an email, a call or a complaint on Facebook etc. In addition, the clients do expect provided customer support to be personalized, as 40% of customers want to improve “Better Human Service” the most. That is why, your agents would definitely benefit from a unified customer database with a 360-degree overview of your contacts. Various automation tools will aid your customer support team in request management and problem management. Queue management capabilities will help you better organize your case resolution processes, taking into account the level of priorities and other important parameters.

Overall, online CRM solution keeps you ‘front of mind’ with your customers, and enables them to make the right decisions with accurate and relevant information, enabling your sales team to close deals faster. Cloud based CRM can transform your business and helps finding new customers quicker, while automated business processes tailored for each customer will aid your sales team in closing more deals one a whole new level of productivity. Consequently, you will be able to keep your customers happy and grow your business.