Benefits of CRM
There are many benefits of CRM or advantages of CRM. Let’s discuss them one by one in detail:
- Better Customer Service
- Better Customer Segmentation
- Increased Sales
- Improved Customer Retention
- Better and Speedier Communication
- Better Anticipation of Needs
Better Customer Service
There are various functions of CRM software, but the main function for which it is created is to improve business-customer relationships. All the information about your customer is stored in one place, which makes CRM software the most powerful tool.
The type of Information stored is the contact’s full name, email address, telephone number, postal address, website, and social media accounts. Also, such critical business facts are stored as a contact’s position in the company, his/her relations to other contacts in your database, the language they speak, and even their birthdays.
This information is accessible to anyone in your company who needs it. All the information is available at the fingertips of your employee which makes his communication with a customer easy. CRM also helps to save all the activities, projects, sales, live chat messages, email exchanges, etc. CRM allows you to know your customer better.
Better Customer Segmentation
Every business wants to deal with the perfect audience. List of the contact may be enormous and large. It makes it difficult for the employee to decide whom to contact on the basis of criteria. For example, how do you know which customers want to see your email about your new in-store product?
CRM allows you to break down data by categories and criteria, making it easy to create focused lists. Used in sales and marketing, such segmented lists allow you to run specific customer marketing campaigns (and account-based marketing campaigns) and analyze your sales process and lead pool.
When you know whom you’re addressing, you can consciously tailor your offer, your tactics, and even your sales pitch! “Automation actually allows the marketer to have a more meaningful understanding of the customer and have more valuable interaction when they do interact because of it, ” Philips said.
CRM system helps you know better who is really interested in what you have to offer, who is still sitting on the fence, and who is cold as ice.
In order to streamline your sales process CRM will provide your sales team with one place where they can track leads, prospects, and customers over any duration of time, automate key tasks and analyze all of your sales data, potentially increasing sales and productivity in one centralized place.
A CRM helps you establish a step–by–step sales process that your employees can rely on every time and that you can easily tweak as issues arise. Sales managers can then use this data to identify patterns and see which sales processes are working for their team and which ones could be improved.
This is how your sales team can use information stored in the CRM to scale your processes as your business grows.
Improved Customer Retention
CRM plays a very important role to keep your customer happy. CRM will help you to keep the promises by reminding you about appointments or when to send follow-up emails. It also helps you to reach those customers who have been neglected or not contacted for a long time.
The CRM will provide sentiment analysis, automated ticketing, customer support automation, and user behavior tracking to help you determine problems and quickly address them with your customers.
Better and Speedier Communication
Without wasting the time of the customer and giving them a prompt reply is a sign of professionalism. CRM helps to save your time and your customer time, as it offers customizable ready-to-use various types of templates like letters, documents, proposals, quotes, etc.
A CRM automatically manages the process, sending your employees alerts when they should reach out to the prospect and tracking every interaction, from emails to phone calls.
Better Anticipation of Needs
CRM system helps salespeople to sell more and sell faster because they have access to the history (buying habits) of the entire customer journey which allows them to anticipate customer needs.
If you know the buying habits like what they bought, and what contracts they were offered, you can be more proactive and come up with new or better offers at the right time.
Just with a few clicks and you would know whether the contact had any problems with your product, how their service requests were handled, and whether they were satisfied or not. And if they had past complaints it’s your chance to redeem your reputation and offer a much better customer experience.
FAQ Related to Benefits of CRM
What are the benefits of CRM?
Following are the benefits of CRM:
1. Better Customer Service
2. Better Customer Segmentation
3. Increased Sales
4. Improved Customer Retention
5. Better and Speedier Communication
6. Better Anticipation of Needs.